Mr. Azim Lalani reports

AUTOCANADA ENTERS INTO AUTOMATIC SHARE PURCHASE PLAN

In connection with its previously announced normal course issuer bid to purchase up to 1,329,106 common shares, AutoCanada Inc. has entered into an automatic share purchase plan with its designated broker. The ASPP has been precleared by the Toronto Stock Exchange and will terminate on March 10, 2025, unless earlier terminated in accordance with its terms.

The ASPP is intended to allow for purchases of its common shares during certain predetermined blackout periods, subject to certain limits as to price and number of shares. Outside of these predetermined blackout periods, shares will be repurchased in accordance with management's discretion subject to applicable law.

AutoCanada's NCIB commenced on March 11, 2024, and will continue until March 10, 2025, when the bid expires, or such earlier date as the corporation completes its purchases pursuant to the notice of intention filed with the TSX. All purchases of common shares made under the ASPP will be included in determining the number of common shares purchased under the NCIB. Any common shares purchased by the corporation pursuant to the NCIB will be cancelled.

About AutoCanada Inc.

AutoCanada is a leading North American multilocation automobile dealership group currently operating 84 franchised dealerships, composed of 28 brands, in eight provinces in Canada, as well as a group in Illinois, United States. AutoCanada currently sells Acura, Alfa Romeo, Audi, BMW, Buick, Cadillac, Chevrolet, Chrysler, Dodge, Fiat, Ford, GMC, Honda, Hyundai, Infiniti, Jeep, Kia, Lincoln, Mazda, Mercedes-Benz, Mini, Nissan, Porsche, Ram, Subaru, Toyota, Volkswagen and Volvo 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, 13 RightRide division locations, and 11 stand-alone collision centres within its group of 27 collision centres. In 2023, the company generated revenue in excess of $6-billion, and its dealerships sold over 100,000 retail vehicles.