Mr. Paul Antony reports

AUTOCANADA ANNOUNCES PROMOTIONS AND EXPANDS LEADERSHIP TEAM

AutoCanada Inc. has made key promotions and additions to its leadership team.

Jeff Thorpe, who joined the company as president, Canadian operations, in April, 2022, will have responsibility for all operations in North America as president, North American operations. Brian Feldman, who joined as senior vice-president of Canadian operations and disruptive technologies in April, 2022, has been appointed as chief operating officer of the company.

"Jeff and Brian have proven themselves over the last year and have been instrumental in driving our strong performance through their focus on operational initiatives in Canada. We are very pleased to provide Jeff with the increased responsibility of oversight over our U.S. operations, in addition to Canadian operations, and to appoint Brian as the chief operating officer of the company," said Paul Antony, executive chairman of the company.

In addition, Drew Forret will be appointed as chief administrative and transformation officer, and Michael Fera will join as vice-president, financial planning and analysis, each effective in the fourth quarter of 2023. These new roles will support the company's renewed focus on fiscal discipline.

"We are very excited to welcome Drew and Michael to the AutoCanada team. Drew and Michael's significant and proven experience in driving high-performance business cultures with scalable best practices and fiscal discipline will be invaluable for AutoCanada as we continue on the next leg of our journey," said Mr. Antony.

Mr. Forret has over 20 years of experience focusing on the leadership and scaling of growth-based organizations. He most recently held the position of chief operating officer and chief financial officer of Voices, a platform that connects businesses with professional voice talent. Prior to Voices, Mr. Forret was the chief operating officer and chief financial officer of CarProof, a provider of vehicle history reports, and president of Activplant, an originator of manufacturing intelligence software. Mr. Fera has over a decade of experience in financial planning and analysis. He joins us from Tim Hortons, Canada's leading quick-service restaurant chain, where he served as head of finance for the Canadian business. In addition, Mr. Fera held several operational roles spanning development, franchising, non-traditional business and real estate during his tenure with Tim Hortons.

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, the company's 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.

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