Mr. Geoff Kidell of MAP Investco reports

PAUL ANTONY ANNOUNCES ACQUISITION OF AUTOCANADA SHARES

Paul Antony acquired 20,000 common shares of AutoCanada Inc. on Oct. 2, 2026, through the facilities of the Toronto Stock Exchange at a price of $23.0695 per share for aggregate consideration of $461,390, excluding commissions. The shares were acquired by Mr. Antony's holding company, MAP Investco Inc.

Following the acquisition, Mr. Antony, together with his joint actors, beneficially own and exercise control or direction over an aggregate of 1,962,930 common shares of AutoCanada and options to purchase 1.5 million common shares, representing approximately 14.31 per cent of the outstanding common shares on a partially diluted basis (assuming the exercise of the options).

Immediately before the acquisition, Mr. Antony, together with his joint actors, beneficially owned and exercised control or direction over an aggregate of 1,942,930 common shares and options to purchase 1.5 million common shares, representing approximately 14.23 per cent of the outstanding common shares on a partially diluted basis (assuming the exercise of the options). These 1,942,930 common shares include those acquired by Mr. Antony in connection with the transactions announced by AutoCanada on Dec. 27, 2023, which resulted in Mr. Antony increasing the common shares he owns and exercises control or direction over from 814,800 to 1,553,452 through market purchases from March to September, 2024. These share acquisitions represented an increase from approximately 7.39 per cent in March, 2024, to approximately 10.51 per cent in September, 2024, of the outstanding common shares owned and controlled or directed by Mr. Antony on a partially diluted basis (assuming the exercise of Mr. Antony's options).

The acquisition of common shares was made for investment purposes. Mr. Antony and his joint actors have the current intention to acquire additional common shares and to exercise their options to acquire common shares. Mr. Antony and his joint actors will review their investment in AutoCanada on a continuing basis and may, depending on various factors, acquire additional securities of AutoCanada, dispose of securities of AutoCanada, engage with the board of directors and management of AutoCanada, make proposals privately to AutoCanada or participate in transactions involving AutoCanada. Mr. Antony and his joint actors may change their plans or intentions at any time and from time to time without prior notice, subject to applicable law.

This early warning news release is issued under the early warning provisions of Canadian securities legislation, including National Instrument 62-104, Take-Over Bids and Issuer Bids, and National Instrument 62-103, The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.

A copy of the early warning report to which this news release relates will be filed with the applicable securities commissions and can be found under AutoCanada's profile on SEDAR+. AutoCanada's head office is located at Suite 200, 15511 123 Ave. NW, Edmonton, Alta., T5V 0C3. A copy of the early warning report can be obtained by contacting Geoff Kidell at MAP Investco at 519-601-9555.

We seek Safe Harbor.