Mr. Chris Harris reports

AUTOCANADA ANNOUNCES EXECUTIVE CHAIR TRANSITION

Paul Antony has informed the board of directors of AutoCanada Inc. that he will transition from his role as executive chair. Following the appointment of a new chief executive officer, Mr. Antony will serve as non-executive chair of the board for a transition period, ensuring continuity and oversight. The board of directors has begun a search for a chief executive officer.

"When I stepped into the executive chair role in 2018, AutoCanada was overlevered, operationally constrained and on the verge of irrelevance," said Mr. Antony. "Together, we stabilized the business, returned it to profitability and repositioned it as a resilient, growth-ready platform. With the company on solid footing and a talented team in place, now is the right time for the transition and to reclaim time for my family and new initiatives in mobility data, technology and private investing. My time leading AutoCanada was among the most intense and rewarding chapters of my career. I'm proud of what we've built and I am excited for what comes next."

Under Mr. Antony's leadership, AutoCanada achieved several transformative milestones:

• Strengthened the balance sheet and significantly reduced debt;
• Rebuilt trust with OEM (original equipment manufacturer) partners and acquired new brands;
• Integrated advanced data analytics into the company's retail model;
• Positioned AutoCanada as a credible consolidator in Canadian auto retail;
• Initiated a full operational overhaul and cost transformation.

"On behalf of the board of directors, I want to thank Paul for his many years of service and dedication to AutoCanada," said Chris Harris, lead independent director. "Paul navigated the company through many challenges and built a strong foundation. With the operational overhaul and cost transformation well under way, the company is poised for growth on a scalable and disciplined basis."

About AutoCanada Inc.

AutoCanada's Canadian operations segment operates 64 franchised dealerships in Canada, comprising 23 brands, in eight provinces. AutoCanada currently sells Acura, Audi, BMW, Buick, Cadillac, Chevrolet, Chrysler, Dodge, Ford, GMC, Honda, Hyundai, Infiniti, Jeep, Kia, Mazda, Mercedes-Benz, Mini, Nissan, Porsche, Ram, Subaru and Volkswagen branded vehicles. In addition, AutoCanada's Canadian operations segment currently operates three used digital division dealerships and 12 stand-alone collision centres within its group of 29 collision centres. In 2024, the company's Canadian dealerships sold approximately 85,000 new and used retail vehicles. In addition, the company's collision centres offer an opportunity for the company to retain customers at every touch point within the automotive ecosystem.

AutoCanada's U.S. operations segment, operating as Leader Automotive Group, operates 17 franchised dealerships, comprising 15 brands, in Illinois, United States. Leader currently sells Audi, Chevrolet, Chrysler, Dodge, Honda, Hyundai, Jeep, Kia, Lincoln, Mercedes-Benz, Porsche, Ram, Subaru, Toyota and Volkswagen branded vehicles. In 2024, the company's U.S. dealerships sold approximately 12,900 new and used retail vehicles.