AUTO1 Group SE — Investor Presentation 2021

Nov 17, 2021

Q3 2021 Earnings Presentation

Disclaimer IMPORTANT NOTICE

For the purposes of this notice, "Presentation" means this document, its contents or any part of it. This Presentation does not, and is not intended to, constitute or form part of, and should not be construed as, an offer to sell, or a solicitation of an offer to purchase, subscribe for or otherwise acquire, any part of it form the basis of or be relied upon in connection with or act as any inducement to enter into any contract or commitment or investment decision whatsoever. This Presentation is neither an advertisement nor a prospectus and should not be relied upon in making any investment decision to purchase, subscribe for or otherwise acquire any securities.

• The information and opinions contained in this Presentation are provided as at the date of this Presentation, are subject to change without notice and do not purport to contain all information that may be required to evaluate AUTO1 Group SE. AUTO1 Group SE undertakes no obligation to update or revise this Presentation. No reliance may or should be placed for any purpose whatsoever on the information contained in this Presentation, or any other information discussed verbally, or on its completeness, accuracy or fairness.
• The information in this Presentation is of preliminary and abbreviated nature and may be subject to updating, revision and amendment, and such information may change materially. Neither AUTO1 Group SE nor any of its directors, officers, employees, agents or affiliates undertakes or is under any duty to update this Presentation or to correct any inaccuracies in any such information which may become apparent or to provide any additional information.
• The Presentation and discussion contain forward looking statements, other estimates, opinions and projections with respect to anticipated future performance of AUTO1 Group SE ("Forward-looking Statements"). By their nature, Forward-looking Statements involve significant risks and uncertainties, because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking Statements should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. Similarly, past performance should not be taken as an indication of future results, and nor representation or warranty, express or implied, is made regarding future performance. The development of AUTO1 Group SEs prospects, growth, strategies, the industry in which it operates, and the effect of acquisitions on AUTO1 Group SE may differ materially from those made in or suggested by the Forward-looking Statements contained in this Presentation or past performance. In addition, even if the development of AUTO1 Group SEs prospects, growth, strategies and the industry in which it operates are consistent with the Forward-looking Statements contained in this Presentation or past performance, those developments may not be indicative of AUTO1 Group SE results, liquidity or financial position or of results or developments in subsequent periods not covered by this Presentation. Any Forward-Looking Statements only speak as at the date of this Presentation is provided to the recipient and it is up to the recipient to make its own assessment of the validity of any Forward-looking Statements and assumptions. No liability whatsoever is accepted by AUTO1 Group SE in respect of the achievement of such Forward-looking Statements and assumptions.

We Are Building the Largest and Most Profitable Car Dealer in the EU

We Are the Industry Leader in a Massive Market Highlights

1 ONE COMPANY ONE PLATFORM ONE TECHNOLOGY ONE PHILOSOPHY Fastest Growing Online Seller in EU Fully Controlled Used Car Production Digital Aggregator Across Europe Scalable Inventory Financing Proven Management Team Leading Automotive Dataset Largest Buyer from Private Consumers Integrated Consumer Financing

Q3 was a Record Quarter by all Metrics Highlights

Highlights

Our Q3 Results Reflect Our long-term Revenue and Gross Profit Track Record

With >160,000 Units in Q3 We Bought More Cars than Ever Highlights

Highlights

Autohero Delivers a Record Quarter on Units, Revenue and Gross Profit

Scale Autohero Deliveries

We Have a Clear Roadmap to Our Long-Term GPU of EUR 3,000

Long-Term Driver of GPU Expansion	Potential Impact EUR
Reduce average days to sale and cross border selling	500 - 700
Smart pricing for purchasing	400 - 600
Cost of sales efficiencies	50 - 100
Increase in-house production	500 - 700
In-house financing	800 - 1,000
Increase conversion of additional products and services	100 - 200

Building Our Autohero Brand Autohero

EuroSpeedway Lausitz Germany

Building Our Autohero Brand

Our Marketing Investments are Building Material Brand Awareness Across Europe

Brand Awareness

Quarters since launch of brand building¹

Building Our Autohero Brand

Autohero Branding and Marketing Investments Generate Overwhelming Consumer Demand

Building Our Autohero Brand

Scale Autohero Production Autohero

Autohero Used Car Production Center

Scale Autohero Production

We Secured our 2021 Used Car Production Capacity Target and are on Track for Further Rollout

*Full capacity at maximum utilization

Merchant Business AUTO1.com

Merchant Business

Our Merchant Business Alone Achieved More Than EUR 1 Billion Revenue and More than EUR 100 Million Gross Profit in Q3

Merchant Business

Our Merchant Business Continues to Deliver Record Quarters

• Strategic OEM sourcing partnerships, as well as our award-winning price indicator tool, demonstrate the strength of our sourcing technology and processes
• Our powerful Merchant network creates demand to enable AUTO1 to source the widest depth and breadth of used cars across all channels

We Achieved a Record Quarter in Q3 2021 on all Metrics

EUR million	Q3 2020	Q4 2020	Q1 2021	Q2 2021	Q3 2021
Cars Sold, #k	120	117	131	143	157
Merchant: C2B	100	98	106	116	127
Merchant: Remarketing	17	15	17	18	18
Retail (Autohero)	2.4	4.2	7.8	8.4	11.3
Revenue	769.4	779.1	899.5	1,065.1	1,260.2
Merchant: C2B	629.7	609.5	671.8	799.0	933.1
Merchant: Remarketing	108.5	116.9	131.3	152.0	167.2
Retail (Autohero)	31.2	52.7	96.4	114.1	159.8
Gross Profit	86.7	82.8	86.4	99.3	116.3
GPU (€)	725	706	662	695	743
Merchant GPU	734	721	688	717	772
Retail (Autohero) GPU	268	290	255	363	365
Opex	(71)	(105)	(101)	(122)	(141)
Adjusted EBITDA	16.0	(22.1)	(14.3)	(22.9)	(24.7)
Adjusted EBITDA Margin	2.1%	(2.8)%	(1.6)%	(2.1)%	(2.0)%

Differences may exist due to rounding

OPEX includes employee expenses, other operating expenses less other operating income and less separately disclosed items

In a Constrained Supply Environment We Efficiently Built up our Inventory to Match our Growth Targets

*Defined as average inventory during the period (calculated using the beginning and ending balance) divided by cost of sold vehicles for the period and multiplied by days per period

We Have ca. €1 Billion of Available Liquidity to Build Europe's Largest and Most Profitable Car Retailer

We are Pulling Forward Capex Investments to Match Tremendous Customer Demand

Guidance Update

Guidance Update

We Are Increasing our Revenue and Gross Profit Guidance

Appendix

29

AUTO1 Financial Figures

Group

	Q2 2020	Q3 2020	9M 2020	Q2 2021	Q3 2021	9M 2021	Growth Q3 YoY	Growth 9M YoY
Units Sold	66,223	119,550	340,111	142,715	156,530	429,782	31%	26%
Revenue (€m)	403.8	769.4	2,050.5	1,065.1	1,260.2	3,224.8	64%	57%
ASP (€)	6,097	6,436	6,029	7,463	8,051	7,503	25%	24%
Gross Profit (€m)	27.4	86.7	203.2	99.3	116.3	302.0	34%	49%
GPU (€)	414	725	597	696	743	703	3%	18%
GP Margin	6.8%	11.3%	9.9%	9.3%	9.2%	9.4%	-2.1pp	-0.5pp
Opex (€m)	(38)	(71)	(196)	(122)	(141)	(364)	99%	85%
Marketing expenses (€m)	(4.9)	(18.9)	(49.5)	(46.3)	(57.5)	(136.5)	204%	176%
Adjusted EBITDA (€m)	(10.2)	16.0	7.0	(22.9)	(24.7)	(61.9)	-254%	-988%
Adjusted EBITDA Margin	(2.5)%	2.1%	0.3%	(2.1)%	(2.0)%	(1.9)%	-4.1pp	-2.2pp

Differences may exist due to rounding OPEX includes employee expenses, other operating expenses less other operating income and less separately disclosed items

Differences may exist due to rounding

AUTO1 Financial Figures
Segment: Merchant

	Q2 2020	Q3 2020	9M 2020	Q2 2021	Q3 2021	9M 2021	Growth Q3 YoY	Growth 9M YoY
Units Sold	65,049	117,121	334,145	134,300	145,255	402,277	24%	20%
Thereof C2B	57,157	100,221	298,381	116,367	126,647	349,154	26%	17%
Thereof Remarketing	7,892	16,900	35,764	17,933	18,608	53,123	10%	49%
Revenue (€m)	388.6	738.2	1,970.6	951.0	1,100.3	2,854.4	49%	45%
Thereof C2B (€m)	342.6	629.7	1,739.1	799.0	933.1	2,403.9	48%	38%
Thereof Remarketing (€m)	46.0	108.5	231.5	152.0	167.2	450.5	54%	95%
ASP (€)	5,973	6,303	5,897	7,081	7,575	7,096	20%	20%
Thereof C2B (€)	5,993	6,283	5,828	6,866	7,368	6,885	17%	18%
Thereof Remarketing (€)	5,829	6,421	6,473	8,474	8,990	8,481	40%	31%
Gross Profit (€m)	27.1	86.0	201.5	96.2	112.2	292.8	30%	45%
GPU (€)	416	734	603	717	772	728	5%	21%
GP Margin	7.0%	11.7%	10.2%	10.1%	10.2%	10.3%	-1.5pp.	0.03pp.

AUTO1 Financial Figures

Segment: Retail (Autohero)

	Q2 2020	Q3 2020	9M 2020	Q2 2021	Q3 2021	9M 2021	Growth Q3 YoY	Growth 9M YoY
Units Sold	1,174	2,429	5,966	8,415	11,275	27,505	364%	361%
Revenue (€m)	15.2	31.1	79.9	114.1	159.8	370.4	413%	363%
ASP (€)	12,944	12,828	13,401	13,565	14,174	13,467	10.5%	0.5%
Gross Profit (€m)	0.3	0.7	1.6	3.1	4.1	9.2	533%	445%
GPU (€)	288	268	282	363	365	333	36%	18%
GP Margin	2.2%	2.1%	2.1%	2.7%	2.6%	2.5%	0.5pp.	0.4pp.

Differences may exist due to rounding