Mr. Azim Lalani reports

AUTOCANADA, PATRICK PRIESTNER AND CANADAONE AUTO GROUP SETTLE OUTSTANDING LITIGATION

AutoCanada Inc. and CanadaOne Auto Group, a multilocation automobile dealership group operating dealerships across Canada, have agreed to resolve the legal proceedings between AutoCanada, Patrick Priestner and CanadaOne Auto that were commenced in 2019. Mr. Priestner was previously the chief executive officer and chairman of AutoCanada.

As part of this resolution, AutoCanada has agreed to sell to CanadaOne Auto properties on which two of CanadaOne Auto's dealerships are located, and CanadaOne Auto has agreed to amend the leases for two AutoCanada dealerships located on properties owned by CanadaOne Auto. The parties have also agreed to co-operate on certain commercial matters for each other's mutual benefit and plan to work together on certain charitable initiatives. Neither party has admitted any wrongdoing or liability.

About AutoCanada Inc.

AutoCanada is a leading North American multilocation automobile dealership group currently operating 83 franchised dealerships, comprising 28 brands, in eight provinces in Canada as well as a group in Illinois, United States. AutoCanada currently sells Chrysler, Dodge, Jeep, Ram, FIAT, Alfa Romeo, Chevrolet, GMC, Buick, Cadillac, Ford, Infiniti, Nissan, Hyundai, Subaru, Audi, Volkswagen, Kia, Mazda, Mercedes-Benz, BMW, MINI, Volvo, Toyota, Lincoln, Acura, Honda and Porsche branded vehicles. In addition, AutoCanada's Canadian operations segment currently operates three used vehicle dealerships and one used vehicle auction business supporting the used digital retail division, 12 RightRide division locations and 11 stand-alone collision centres within its group of 27 collision centres. In 2022, AutoCanada dealerships sold approximately 100,000 vehicles, and processed over 900,000 service and collision repair orders in its 1,367 service bays generating revenue in excess of $6-billion.

We seek Safe Harbor.