AUTO1 Group SE

Quarterly Report • Sep 13, 2023

HALF-YEAR REPORT

H1 2023

13 SEPTEMBER 2023

MISSION STATEMENT 3

4 01 2023 H1 HIGHLIGHTS

• 5 AUTO1 is Europe's Used Car Powerhouse
• 6 We Focused on Further Improvements to Our Cost Base and on Trading Efficiency as We Move Towards Adjusted EBITDA Break-Even
• 7 We are Investing in More Branches to Densify Our Purchasing Network
• 8 We Significantly Exceeded Our Year-End GPU Target in Q2 and Expect Further Improvements Towards Our Long-Term Ambition
• 9 We Maintain Strong Customer Satisfaction While Driving Unit Economics
• 10 Financial Overview

INTERIM GROUP MANAGEMENT REPORT 02 11

• Group Profile 12
• Economic Report 12
• Forecast, Opportunities and Risk Report 16

INTERIM CONSOLIDATED FINANCIAL STATEMENTS 03 17

• Consolidated Statement of Financial Position 18
• Consolidated Statement of Profit or Loss and Other Comprehensive Income 20
• Consolidated Statement of Changes in Equity 21
• Consolidated Statement of Cash Flows 22
• Selected Notes to the Consolidated Interim Financial Statements 23

RESPONSIBILITY STATEMENT 33

SERVICE 04 34

• Glossary 35
• Financial Calendar 36
• Contact 36

Building the Best Way to Buy and Sell Cars Online

01 2023 H1 HIGHLIGHTS

• AUTO1 is Europe's Used Car Powerhouse PAGE 5
• We Focused on Further Improvements to Our Cost Base and on Trading Efficiency as We Move Towards Adjusted EBITDA Break-Even PAGE 6
• We are Investing in More Branches to Densify Our Purchasing Network PAGE 7
• We Significantly Exceeded Our Year-End GPU Target in Q2 and Expect Further Improvements Towards Our Long-Term Ambition PAGE 8
• We Maintain Strong Customer Satisfaction While Driving Unit Economics PAGE 9
• Financial Overview PAGE 10

AUTO1 is Europe's Used Car Powerhouse

We Focused on Further Improvements to Our Cost Base and on Trading Efficiency as We Move Towards Adjusted EBITDA Break-Even

We are Investing in More Branches to Densify Our Purchasing Network

+12a % Wachstum ggü. Vorjahr Installation of additional Micro Branches in convenient locations for the customer

T Einheiten

Merchant Fahrzeuge

134,3 23,2 17,9 127,2 116,4 EU wide potential for the Micro Branches >1,000 additional locations

Efficient CapEx and OpEx spending

Q2 2021 Q2 2022

Remarketing C2B

150,4

We Significantly Exceeded Our Year-End GPU Target in Q2 and Expect Further Improvements Towards Our Long-Term Ambition

*GPU is not equal to gross profit/number of cars sold because of the effects of inventory changes due to the capitalisation of internal refurbishment costs which are not part of cost of materials.

We Maintain Strong Customer Satisfaction While Driving Unit Economics

*Weighted Average based on avg. Trustpilot and Google score per market

Financial Overview

Summary of Key Figures

Group Key Figures	Q2 2022	H1 2022	FY 2022	Q2 2023	H1 2023	Change Q2 YoY	Change H1 YoY
Units Sold (#)	166,147	335,757	649,709	141,682	298,788	-14.7%	-11.0%
Revenue (in million EUR)	1,737.2	3,375.1	6,534.1	1,340.5	2,846.5	-22.8%	-15.7%
ASP (EUR)	10,456	10,052	10,057	9,462	9,527	-9.5%	-5.2%
Gross profit (in million EUR)	126.4	250.3	488.2	127.8	259.8	1.1%	3.8%
GPU (EUR)	761	746	746	898	866	18.1%	16.1%
Adjusted EBITDA (in million EUR)	-46.8	-94.4	-165.6	-14.8	-40.0	68.3%	57.7%
Inventory (in million EUR)	686.5	686.5	617.6	428.7	428.7	-37.6%	-37.6%

Segment Key Figures

Merchant Key Figures	Q2 2022	H1 2022	FY 2022	Q2 2023	H1 2023	Change Q2 YoY	Change H1 YoY
Units Sold (#)	150,377	305,429	585,545	127,285	266,312	-15.4%	-12.8%
thereof C2B	127,134	258,535	497,254	110,703	231,010	-12.9%	-10.6%
thereof Remarketing	23,243	46,894	88,291	16,582	35,302	-28.7%	-24.7%
Revenue (in million EUR)	1,467.3	2,860.8	5,477.6	1,114.5	2,336.0	-24.0%	-18.3%
thereof C2B	1,234.9	2,398.8	4,599.2	960.7	1,998.5	-22.2%	-16.7%
thereof Remarketing	232.4	462.0	878.4	153.8	337.5	-33.8%	-26.9%
ASP (EUR)	9,757	9,367	9,355	8,756	8,772	-10.3%	-6.4%
thereof C2B	9,713	9,278	9,249	8,678	8,651	-10.7%	-6.8%
thereof Remarketing	9,999	9,852	9,949	9,277	9,562	-7.2%	-3.0%
Gross profit (in million EUR)	110.1	223.6	418.0	103.1	210.1	-6.3%	-6.0%
GPU (EUR)	732	732	714	810	789	10.7%	7.8%

Retail Key Figures	Q2 2022	H1 2022	FY 2022	Q2 2023	H1 2023	Change Q2 YoY	Change H1 YoY
Units Sold (#)	15,770	30,328	64,164	14,397	32,476	-8.7%	7.1%
Revenue (in million EUR)	269.9	514.3	1,056.5	226.0	510.5	-16.2%	-0.7%
ASP (EUR)	17,113	16,958	16,466	15,701	15,718	-8.3%	-7.3%
Gross profit (in million EUR)	16.3	26.8	70.2	24.7	49.7	51.2%	85.7%
GPU (EUR)	1,035	882	1,039	1,680	1,495	62.4%	69.5%

Differences may exist due to rounding.

02 INTERIM GROUP MANAGEMENT REPORT

PAGE 12		Group Profile
---------	--	---------------

• Economic Report PAGE 12
• Forecast, Opportunities and Risk Report PAGE 16

Group Profile

AUTO1 Group SE is listed on Frankfurt Stock Exchange since 4 February 2021. From this date onwards, the shares of AUTO1 Group SE have been traded on the regulated market (Prime Standard) of the Frankfurt Stock Exchange.

The statements made in the annual report 2022 of the AUTO1 Group with regard to the business model, group structure and performance indicators essentially continue to apply as of the date of publication of this half-year financial report.

Economic Report

Overall economic conditions

The euro economy continues to show slight growth after the recent period of weakness. High inflation, rising financing costs and uncertainty about the economic environment have put an end to the post-Corona upswing in Europe and caused economic activity to contract slightly. Private consumption was weak in the winter half-year.1 According to Eurostat's preliminary forecast, gross domestic product increased by 0.3% in the EU and by 0.1% in the euro area in the first quarter of 2023. Leading indicators suggest that growth will continue to pick up in the second quarter, though business sentiment remains muted.²

a. Industry Environment

In the first half of 2023, used car transactions remained broadly flat year on year, despite new car registrations in the EU having increased significantly (+17.9%), reaching 5.4 million units. The new car registration improvements in recent months indicate that the European automotive industry is recovering from the supply disruptions caused by the pandemic. However, cumulative volumes are down 21% compared to 2019, meaning that new car demand is still being absorbed and not yet feeding into the used car market. As a result, there have not yet been any significant increases in used car transactions in the EU over the past six months. Germany recorded a slight year-on-year increase in used car transactions of 4.6%3 in the first half of 2023, while France recorded a slight decrease of -4.4%.⁴ According to the AUTO1 Price Index, used car prices were 10.2% lower in June 2023 compared to the same month last year. Year-to-date, used car prices have stabilised with a slight price increase of only 1.9% from January to June.⁵

b. Business Performance

Group
	1 Jan. 2023 - 30 Jun. 2023	1 Jan. 2022- 30 Jun. 2022
Revenue (in KEUR)	2,846,468	3,375,113
Gross profit (in KEUR)	259,759	250,326
Adjusted EBITDA (in KEUR)1	(39,956)	(94,373)
Sold cars (#)	298,788	335,757

Defined as EBITDA adjusted for non-operating effects, which comprise sharebased and other-non operating expenses. See the table for reconciliation to adjusted EBITDA in section c. 1. Results of operations. 1

The first half of 2023 was another strong half-year for AUTO1 Group. With the gross profit of KEUR 259,759⁶ (first half year of 2022: KEUR 250,326), the Group achieved its highest-ever half-year gross profit result. The increase was mainly due to the steady improvement in margins in the Retail segment.

Sales of a total 298,788 used cars (first half year of 2022: 335,757) generated revenues of KEUR 2,846,468 (first half year of 2022: KEUR 3,375,113) in the first six months of the year. The decline was attributable to the Merchant segment and is mainly due to lower used car prices and a lower number of cars sold as a result of the focus on profitability.

The AUTO1 Group recorded an adjusted EBITDA of KEUR -39,956, equivalent to an improvement of KEUR 54,517 compared to the first half year of 2022 (KEUR -94,373). This was in particular due to lower marketing expenses and an decrease in personnel expenses.

Compare Kiel Economic Reports No. 103 (2023|Q2). 1

• Compare EU Economic Forecast Spring 2023. 2
• Compare Kraftfahrt Bundesamt Besitzumschreibungen January-June 2023. 3 4

Compare CCFA (Comité des ConstrucKEURs Français d'Automobiles), Immatriculations de V.P en France Juin 2023.

Compare AUTO1 Group Price Index https://www.auto1-group.com/de/index/#aktuellerindex 5

When adding up individual amounts or percentages, rounding differences may occur in the following. 6

Merchant
	1 Jan. 2023 - 30 Jun. 2023	1 Jan. 2022- 30 Jun. 2022
Sold cars (#)	266,312	305,429
Revenue (in KEUR)	2,336,009	2,860,801
thereof C2B	1,998,465	2,398,803
thereof Remarketing	337,544	461,998
Gross profit (in KEUR)	210,060	223,565
GPU (in EUR)	789	732

Both the C2B and the Remarketing channel of the Merchant segment declined in the first half of 2023, which resulted in a decrease of KEUR 524,792 of total revenues to KEUR 2,336,009. At the same time, the number of sold cars decreased by 39,117 to 266,312 units (first half year of 2022: 305,429 units).

Via the C2B channel, the number of sold cars declined from 258,535 units in the previous year's period to a total of 231,010 units in the first half year of 2023. The sold C2B cars thus accounted for 87% of total sales in the Merchant segment (85% in the prior-year period). Total revenue of the C2B channel decreased from KEUR 2,398,803 in the previous year's period by KEUR 400,338 to KEUR 1,998,465.

At the same time, the number of Remarketing cars sold fell between the first half year of 2023 and 2022 by 11,592 to 35,302 units. The sale of used cars via the Remarketing channel generated revenue of KEUR 337,544 in the first six months of 2023 (first half of 2022: KEUR 461,998).

Gross profit per unit improved from EUR 732 to EUR 789. This resulted in total gross profit in the Merchant segment of KEUR 210,060, a decrease of KEUR 13,504 compared to the same period of the previous year.

Retail

	1 Jan. 2023 - 30 Jun. 2023	1 Jan. 2022- 30 Jun. 2022
Sold cars (#)	32,476	30,328
Revenue (in KEUR)	510,459	514,312
Gross profit (in KEUR)	49,699	26,761
GPU (in EUR)*	1,495	882

GPU is not equal to gross profit/number of cars sold because the effects of inventory changes due to the capitalisation of internal refurbishment costs that are not part of cost of materials is not accounted for. *

Autohero also focused on increasing profitability. In our online Retail segment, sales figures increased from 30,328 units in the first six months of 2022 to 32,476 units. Total revenue decreased slightly from KEUR 514,312 in the prior-year period to KEUR 510,459. Whereby, the share of Autohero's revenue increased to 17.9% of the Group's total revenue, compared to 15.2% in the first six months of 2022. Due to the strong increase in sales and an improvement in gross profit per unit from EUR 882 to EUR 1,495, Autohero's total gross profit almost doubled from KEUR 26,761 in the first half of 2022 to KEUR 49,699. Gross profit per unit was EUR 1,680 in Q2 2023 (Q1 2023: EUR 1,349), compared to EUR 1,035 in Q2 2022 (Q1 2022: EUR 718).

c. Position of the Group

1. Results of operations

Revenue Performance

The Group's revenue decreased by 15.7% or KEUR 528,645 to KEUR 2,846,468 in the first half of 2023 compared to the corresponding six months of the previous year. This was due in particular to the Merchant business and a lower number of vehicles sold there as well as lower average selling prices. The number of cars sold decreased by 36,969 to 298,788 in the same period.

Gross Profit Development

Cost of materials decreased by 17.2% or KEUR 538,078 to KEUR 2,586,709. The gross profit improved because the decrease in cost of materials was greater than the decrease in revenues. In the Merchant business, the cost of materials amounted to KEUR 2,125,949 and in the Retail business to KEUR 460,761. The cost of materials included, among other things, the cost of vehicles sold, external transport costs (cost of transporting goods to the customers) as well as further services associated with the operational processing of vehicle purchases and sales. The decrease in revenue and the corresponding higher reduction in cost of materials are attributable to the focus on profitability in both segments of the AUTO1 Group and to the decline in used vehicle prices.

The gross profit rose in the first half year of 2023 by KEUR 9,433 to KEUR 259,759 and led to the highest-ever halfyear gross profit of the AUTO1 Group. Gross profit of KEUR 210,060 was generated in the Merchant business and gross profit of KEUR 49,699 was generated in the Retail business.

Development of EBITDA and adjusted EBITDA

Personnel expenses decreased by KEUR 11,909 in the first half year of 2023 to KEUR 143,104 compared to the corresponding six months of the previous year, due to a particular reduction in headcount. On average, the Group had 5,488 employees in the reporting period (first half of 2022: 6,214).

Other operating expenses decreased by 16% compared to the previous year's period, in total by KEUR 32,383 to KEUR 171,998. This mainly resulted from an overall improvement in cost management, which led to a decrease of KEUR 37,949 in marketing expenses to KEUR 71,991 and a decrease of KEUR 2,433 in internal logistics costs to KEUR 36,105. Contrarily, allowances on receivables increased by KEUR 3,863 to KEUR 4,705 and losses from currency translation increased by KEUR 3,680 to KEUR 6,713.

The following table shows the reconciliation of EBITDA to adjusted EBITDA:

KEUR	1 Jan. 2023 - 30 Jun. 2023	1 Jan. 2022- 30 Jun. 2022
EBITDA	(48,822)	(102,313)
Share-based payments	5,934	3,782
Other non-operating expenses	2,932	4,158
Adjusted EBITDA	(39,956)	(94,373)

Other non-operating expenses in the first half of 2023 resulted mainly from expenses for severance payments and consulting expenses relating to refinancing projects. In comparison, the item in the first six months of 2022 mainly reflected transaction costs incurred in connection with the inventory and consumer loan ABS facilities.

Development of the Consolidated Result

In the first half of 2023, the consolidated loss amounted to KEUR 76,904 (first half of 2022: KEUR 133,504). The improvement in the consolidated result is due especially to reduced marketing and personnel expenses as well as an increase in gross profit.

2. Financial position

KEUR	1 Jan. 2023 - 30 Jun. 2023	1 Jan. 2022- 30 Jun. 2022
Cash flow from operating activities	130,951	(286,469)
Cash flow from investing activities	(9,706)	324,947
Cash flow from financing activities	(109,785)	231,873
Cash and cash equivalents at the beginning of the period	542,431	106,653
Cash and cash equivalents at the end of the period	553,891	377,004

For the first half year of 2023, AUTO1 Group reported a positive cash flow from operating activities of KEUR 130,951 (first half year of 2022: KEUR -286,469). The main reason for this in the current financial year was the reduction in inventories by KEUR 188,847. This was offset by an increase in non-current and current trade receivables from instalment sales by KEUR 42,498.

The cash flow from investing activities for the year 2023 amounted to KEUR -9,706 (first half year of 2022: KEUR 324,947) and resulted primarily from the increase in fixed assets. The positive cash flow in the prior-year period was mainly due to the sale of short-term financial assets.

The financing activities of the AUTO1 Group overall generated a cash outflow of KEUR -109,785 in the first six months of 2023 (first half year of 2022: cash inflow of KEUR 231,873). The negative cash flow in the reporting period mainly resulted from the repayment of the Inventory ABS facility, as a result of lower utilisation due to reduced inventory. The previous year, on the other hand, was mainly characterised by the increase in the utilisation of the Inventory ABS facility and the first-time inclusion of the Consumer Loan ABS facility, which refinances the instalment purchase program for Autohero customers in Germany and Austria.

The Group was able to always meet its payment obligations towards third parties.

At the end of the half year 2023, cash and cash equivalents amounted to KEUR 553,891 (31 December 2022: KEUR 542,431) and thus had increased by KEUR 11,460.

3. Net assets

Assets

KEUR	30 Jun. 2023	31 Dec. 2022
Fixed Assets	140,105	135,851
Trade and other receivables	196,430	151,703
Other assets	14,939	12,704
Non-current assets	351,474	300,258
Inventories	428,726	617,573
Trade and other receivables	111,818	117,547
Other financial and non-finan cial assets	108,809	111,091
Cash and cash equivalents	553,891	542,431
Current assets	1,203,244	1,388,642
Total assets	1,554,718	1,688,900

Equity & Liabilities

KEUR	30 Jun. 2023	31 Dec. 2022
Total equity	613,716	684,884
Financial liabilities	534,136	617,398
Provision, other financial and non-financial liabilities	52,808	52,179
Non-current liabilities	586,944	669,577
Financial liabilities	478	11,295
Trade payables	162,727	143,285
Provision, other financial and non-financial liabilities	190,853	179,859
Current Liabilities	354,058	334,439
Total liabilities	941,002	1,004,016
Total equity and liabilities	1,554,718	1,688,900

Fixed assets increased by KEUR 4,254 to KEUR 140,105, mainly due to the capitalisation of development costs and investments in operating and office equipment of the AUTO1 Group.

Non-current trade and other receivables consists of receivables from instalment purchase ('Ratenkauf'), which are secured by the vehicles sold, from the Autohero segment. Current trade and other receivables include instalment purchase receivables of KEUR 31,703 (prior year: KEUR 33,932).

Compared to the year-end, inventories decreased by KEUR 188,847 to KEUR 428,726. KEUR 355,000 of the inventories is covered by the utilisation of the Inventory ABS facility. The decrease in inventories is attributable to both the Merchant segment's and the Retail segment's vehicle inventories.

As of the reporting date, current trade receivables and other receivables, which mainly include receivables from the sale of vehicles, declined by KEUR 5,729 to KEUR 111,818.

Other current assets primarily relate to value added tax claims and prepayments.

The equity ratio at the end of the reporting period stood at 39.5% (31 December 2022: 40.6%). The decrease is the result from the consolidated loss of the first six months of 2023 in the amount of KEUR 76,904. The lower balance sheet total had a positive effect on the equity ratio.

Non-current financial liabilities decreased by KEUR 83,261 to KEUR 534,136 during the first six months. This was mainly due to the lower utilisation of the Inventory ABS facility as a result of lower inventories. This was offset by the higher utilisation of the Consumer Loan ABS facility.

Current liabilities increased by KEUR 19,619 to KEUR 354,058 as of the reporting date. They consisted mainly of trade payables, to which the increase is mainly attributable, and contractual liabilities.

Forecast, Opportunities and Risk Report

Opportunities and Risk Report

As a company with international operations, AUTO1 is exposed to a diverse array of opportunities and risks that could influence our net assets, financial position and results of operations. The specific risks and opportunities related to our various risk clusters, as well as the organisation of our risk management system, were presented in our annual report 2022 on pages 25 to 34. The risk areas highlighted in the 2022 annual report remain relevant in the current reporting period, with no new risk areas identified as critical.

Forecast Report

Macroeconomy

The risk of entering a recession has decreased, but economic momentum is being held back by monetary tightening. Key conditions which were largely responsible for the weakening of the global economy last year have recently improved significantly. Energy prices, for example, have fallen significantly again and as a result inflationary pressures have eased. in the change in strategy in China away from the zero-covid policy has improved the prospects for continued economic expansion, and the disruptions to economic activity caused by supply bottlenecks are no longer as severe as before. In the euro zone, economic activity is expected to improve gradually in the further course of 2023 and in 2024. Overall, gross domestic product is expected to increase by 0.6% in the current year and by 1.7% in 2024.⁷

Industry

Our expectations with respect to the development of the used car market have not changed since April 2023 (see page 35 of the Annual Report 2022).

Expectations of AUTO1 Group

We have refined our outlook for 2023 since first disclosing it in our Q4 and FY 2022 results presentation as follows: We expect to sell a total of 625,000 units with a +/- 5% bound (previously 625,000 to 690,000 units), of which 560,000 +/- 5% (previously 590,000 +/- 5%) relate to the Merchant segment and 65,000 +/- 5% (previously 65,000 to 70,000) relate to the Retail segment.

The slight reduction in our sales targets is a consequence of the continued prioritisation of improving gross profit per unit in both segments.

We continue to expect the Group's gross profit for 2023 to be EUR 500 million to EUR 550 million.

We expect the Group's adjusted EBITDA for 2023 to be in an improved range between EUR -50 million and EUR -70 million (previously between EUR -60 million and EUR -90 million).

As a result of declining average selling prices, total AUTO1 Group revenue forecast is to be lower in fiscal year 2023 compared to 2022 (previously assuming revenue at the level of the previous year).

Compare Kiel Economic Report No. 103 (2023|Q2). ⁷

Interim Group Management Report 03 INTERIM CONSOLIDATED FINANCIAL STATEMENTS

• Consolidated Statement of Financial Position PAGE 18
• Consolidated Statement of Profit or Loss and Other Comprehensive Income PAGE 20
• Consolidated Statement of Changes in Equity PAGE 21
• Consolidated Statement of Cash Flows PAGE 22
• Selected Notes to the Consolidated Interim Financial Statements PAGE 23

Consolidated Statement of Financial Paosition

as at 30 JUNE 2023

Assets

KEUR	Note	30 Jun. 2023	31 Dec. 2022
Intangible assets		14,504	12,361
Property, plant and equipment	4.1	125,601	123,490
Trade and other receivables	4.3	196,430	151,703
Other financial assets	4.4	14,536	12,189
Deferred tax assets		404	515
Non-current assets		351,474	300,258
Inventories	4.2	428,726	617,573
Trade and other receivables	4.3	111,818	117,547
Income tax receivables		3,042	3,028
Other financial assets	4.4	3,464	3,035
Other assets		102,304	105,028
Cash and cash equivalents		553,891	542,431
Current assets		1,203,244	1,388,642
Total assets		1,554,718	1,688,900

Consolidated Statement of Financial Position continued

as at 30 JUNE 2023

Equity & Liabilities

KEUR	Note	30 Jun. 2023	31 Dec. 2022
Subscribed capital	4.5	215,988	215,696
Capital reserve	4.5	1,715,877	1,711,745
Other reserves		64,347	63,790
Retained earnings		(1,385,668)	(1,308,764)
Equity attributable to owners of the Parent Company		610,543	682,467
Non-controlling interests		3,172	2,417
Total Equity		613,716	684,884
Financial liabilities	4.6	534,136	617,398
Other financial liabilities	4.7	49,954	49,256
Provisions		454	454
Other liabilities		1,616	1,616
Deferred tax liabilities		784	853
Non-current liabilities		586,944	669,577
Financial liabilities	4.6	478	11,295
Trade payables		162,727	143,285
Other financial liabilities	4.7	43,072	33,560
Provisions		24,617	16,049
Other liabilities	4.8	119,265	124,626
Income tax liabilities		3,900	5,624
Current liabilities		354,058	334,439
Total liabilities		941,002	1,004,016
Total equity and liabilities		1,554,718	1,688,900

Consolidated Statement of Profit or Loss and Other Comprehensive Income

for the period 1 JANUARY to 30 JUNE 2023

KEUR	Note	1 Jan. 2023 - 30 Jun. 2023	1 Jan. 2022 - 30 Jun. 2022
Net revenue	3.1	2,846,468	3,375,113
Cost of materials		(2,586,709)	(3,124,788)
Gross profit		259,759	250,326
Other operating income	3.2	6,522	6,755
Employee costs	3.3	(143,104)	(155,013)
Other operating expenses	3.4	(171,998)	(204,381)
Earnings before interest, tax, depreciation and amortisation (EBITDA)		(48,822)	(102,313)
Depreciation, amortisation and impairment		(21,772)	(17,535)
Earnings before interest and tax (EBIT)		(70,594)	(119,848)
Finance income	3.5	3,933	123
Finance costs	3.5	(9,389)	(4,966)
Other financial result	3.5	(786)	(6,166)
Earnings before tax (EBT)		(76,835)	(130,857)
Income taxes	3.6	(69)	(2,647)
Net loss for the period		(76,904)	(133,504)
Thereof attributable to the owners of the Company		(76,904)	(133,504)
Other comprehensive income
Items that are or may be reclassified subsequently to profit or loss:		(199)	445
Exchange differences on translation of foreign operations		(954)	70
Gain or Loss from derivative financial instruments		708	496
Deferred Taxes		48	(121)
Total comprehensive income for the period		(77,103)	(133,058)
Thereof attributable to the owners of the Company		(77,859)	(133,433)
Thereof attributable to non-controlling interests		756	375
Diluted and basic earnings per ordinary share in EUR	5.4	(0.36)	(0.63)

Consolidated Statement of Changes in Equity

for the period 1 JANUARY to 30 JUNE 2023

					Other Reserves
KEUR	Subscribed Capital	Treasury Shares	Capital Reserve	Other Equity Reserves	Currency Translation Reserve	Retained Earnings	Total	Non controllig Interests	Total Equity
Note	4.5		5
Balance as at 1 Jan. 2023	214,804	892	1,711,745	64,890	(1,100)	(1,308,764)	682,467	2,417	684,884
Net result	-	-	-	-	-	(76,904)	(76,904)	-	(76,904)
Other comprehensive income	-	-	-	-	(954)	-	(954)	755	(199)
Total comprehensive income for the
year	-	-	-	-	(954)	(76,904)	(77,858)	755	(77,103)
Share based payments	29	(29)	-	5,935	-	-	5,935	-	5,935
Capital increases	292	-	4,132	(4,424)	-	-	-	-	-
Balance as at 30 Jun. 2023	215,125	863	1,715,877	66,401	(2,054)	(1,385,668)	610,544	3,172	613,716

Other Reserves

Subscribed Capital	Treasury Shares	Capital Reserve	Other Equity Reserves	Currency Translation Reserve	Retained Earnings	Total	Non controllig Interests	Total Equity
								921,014
-	-	-	-	-	(133,504)	(133,504)	-	(133,504)
-	-	-	-	70	-	70	375	445
								(133,059)
(90)	90	-	3,782	-	-	3,782	-	3,782
2,291	-	29,823	(32,114)	-	-	-	-	-
214,536	893	1,709,727	62,928	(826)	(1,195,896)	791,363	375	791,738
	212,335 -	803 -	1,679,904 -	91,260 -	(896) 70	(1,062,392) (133,504)	921,014 (133,434)	- 375

Consolidated Statement of Cash Flows

for the six months ended 30 JUNE 2023

KEUR	1 Jan. 2023 - 30 Jun. 2023	1 Jan. 2022 - 30 Jun. 2022 (133,504)
Net loss for the period	(76,904)
Adjustments for
Depreciation, amortization and impairment	21,772	17,535
Financial result	6,242	11,009
Income taxes	69	2,647
Change in provisions	2,745	1,164
Expenses from share-based payments	5,935	3,782
Loss on disposal of fixed assets	1,055	1
Other non-cash effects	(3,265)	5,874
Change in operating assets and liabilities
Change in operating assets	153,455	(217,819)
Change in operating liabilities	26,397	28,760
Cash flows used in operating activities
Interest received	3,708	123
Interest paid	(7,688)	(3,822)
Interest for lease liability (IFRS 16)	(853)	(740)
Taxes paid	(1,717)	(1,479)
Net cash from (used in) operating activities	130,951	(286,469)
Acquisition of property, plant and equipment	(7,669)	(21,553)
Acquisition of investments in financial assets	(2,593)	(69,863)
Proceeds from sale of property, plant and equipment	556	1,667
Proceeds from sale of financial assets	–	414,696
Net cash from investing activities	(9,706)	324,947
Proceeds from incurring liabilities to banks	362,500	481,838
Repayment of liabilities to banks	(455,000)	(235,000)
Transaction costs related to borrowings	(1,745)	(1,938)
Repayment of lease liabilities	(15,540)	(13,028)
Cash flows from financing activities	(109,785)	231,872
Net change in cash and cash equivalents	11,460	270,351
Cash and cash equivalents at the beginning of the period	542,431	106,653
Cash and cash equivalents at the end of the period	553,891	377,004

Selected Notes

to the condensed consolidated interim financial statements as at 30 June 2023

1. General information on the consolidated interim financial statements

1.1 Reporting entity

The AUTO1 Group (hereinafter also referred to as 'AUTO1' or the 'Group'), comprises the parent company AUTO1 Group SE, Munich, Germany (hereinafter also referred to as 'AUTO1 SE'or the 'Company'), and its direct and indirect subsidiaries. The Company is registered in the commercial register of the Munich District Court under HR number 241031B. The Company's address is Bergmannstrasse 72, 10961 Berlin, Germany.

1.2 Basis of accounting

The Board of Management of AUTO1 has prepared these condensed consolidated interim financial statements for the six months ended 30 June 2023 in accordance with IAS 34 Interim Financial Reporting as adopted by the European Union. The interim financial statements should be read in conjunction with the Group's last annual consolidated financial statements as of 31 December 2022 and for the year ended 31 December 2022. They do not include all the information required for a complete set of financial statements prepared in accordance with IFRS Standards. However, selected explanatory notes are included to explain events and transactions that are significant to an understanding of the changes in the Group's financial position and performance since the last annual financial statements.

These interim financial statements were authorized for issue by the Company's Board of Management on 12 September 2023 and have been directly submitted to the Supervisory Board for approval. The condensed consolidated interim financial statements are prepared in EUR. Amounts are stated in thousands of euros (KEUR) except where otherwise indicated. Rounding differences may arise when individual amounts or percentages are added together. The condensed consolidated interim financial statements and the interim Group management report have not been audited or reviewed by an auditor.

Consolidation scope

Compared to the 2022 consolidated financial statements, there were no significant changes to the AUTO1 Group's consolidation scope in the first half of 2023.

1.3 Uses of estimates and judgements

In preparing these interim financial statements, management has made judgements and estimates that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expense. Actual results may differ from these estimates. The significant judgements made by management in applying the Group's accounting policies and the key sources of estimation uncertainty were the same as those described in the last annual financial statements.

1.4 Significant accounting policies

The accounting policies applied in these interim financial statements are the same as those applied in the Group's consolidated financial statements as of 31 December 2022. A few new standards were effective from 1 January 2023 but they did not have a material effect on the Group's financial statements.

1.5 Standards issued but not yet effective

A few new standards and amendments to standards are effective for annual periods beginning after 1 January 2024 and earlier application is permitted; however, the Group has not early adopted any of the forthcoming new or amended standards in preparing these condensed consolidated interim financial statements.

2. Operating segments

a. Description of segments

The Group has the following two strategic divisions: 'Merchant' and 'Retail', which are its reportable segments. These divisions offer products to a different customer base and are managed separately because they require different technology (use of different sales platforms) and sales marketing strategies. No operating segments were aggregated.

Merchant

Our Merchant business primarily consists of the sale of used cars to car dealerships via our dealer platform AUTO1.com. Fees from logistic services and additional fees in connection with providing the vehicles to dealers are included.

The revenue from the Merchant business is further split according to the sourcing of the cars. All cars, purchased via the Group's branch network, are classified as 'C2B' cars. In contrast, all cars purchased from professional dealers are categorized as 'Remarketing' cars. As there are no business activities that result in independent sales revenues in the two categories, C2B and Remarketing are solely different sourcing channels. Sales are made to the same customer base and via the same sales channel.

Retail

Our Retail business primarily consists of the sale of used cars to private customers via Autohero.com.

b. Segment information

All revenues are generated by external customers. The segments' measure of profit or loss is gross profit, defined as revenue less cost of materials.

Information about reportable segments

	Merchant		Retail		AUTO1 Group
KEUR	1 Jan. 2023 – 30 Jun. 2023	1 Jan. 2022 – 30 Jun. 2022	1 Jan. 2023 – 30 Jun. 2023	1 Jan. 2022 – 30 Jun. 2022	1 Jan. 2023 – 30 Jun. 2023	1 Jan. 2022 – 30 Jun. 2022
Revenue	2,336,009	2,860,801	510,459	514,312	2,846,468	3,375,113
thereof:	–	–	–	–	–	–
C2B	1,998,465	2,398,803	–	–	–	–
Remarketing	337,544	461,998	–	–	–	–
Cost of materials	(2,125,949)	(2,637,236)	(460,761)	(487,551)	(2,586,709)	(3,124,788)
Gross profit	210,060	223,565	49,699	26,761	259,759	250,326
KEUR	30 Jun. 2023	31 Dec. 2022	30 Jun. 2023	31 Dec. 2022	30 Jun. 2023	31 Dec. 2022
Inventories	206,004	300,154	222,721	386,357	428,726	617,573

Reconciliation of information on reportable segments

There are transactions between the reportable segments, which relate to transfers of used cars and shared distribution services. The amounts reported to the chief operating decision maker relate to the amounts after consolidation. The measures reported for the segments represent measures in accordance with IFRS. The difference between the reportable segments' measure of profit and loss (gross profit) to the loss before tax in the consolidated statement of profit and loss and other comprehensive income therefore relates to all material line items below gross profit.

3. Notes to the condensed interim statement of profit and loss and other comprehensive income

3.1 Revenue

As a result of the decline in prices on the used car market and a lower number of vehicles sold in the Merchant segment, revenue decreased by KEUR 528,645 to KEUR 2,846,468 in the first half of 2023. Revenues in the Retail segment include interest income of KEUR 5,462 (prior-year period: KEUR 1,411), which was generated by the offering of instalment purchases in the Retail business.

The information about revenue provided in the segment information in section 2 meets the requirements of IFRS 15.114 and those revenue disclosures are based on the recognition and measurement requirements in IFRS 15. Therefore, no further disaggregated revenue disclosures are provided.

3.2 Other operating income

Other operating income mainly includes the effects of the capitalisation of development costs and currency translation gains.

3.3 Personnel expenses

The decrease in personnel expenses is primarily due to a reduction in employee capacity as a result of the focus on profitability.

3.4 Other operating expenses

Other operating expenses were reduced by KEUR 32,383 to KEUR 171,998 compared with the same period of the previous year. The main drivers for the reduction were attributed to the lower marketing expenses, which decreased by KEUR 37,949 to KEUR 71,991, and the lower logistics costs for internal transport due to the smaller number of vehicles to be transported.

The following table shows the items of other operating expenses:

KEUR	1 Jan. 2023 - 30 Jun. 2023	1 Jan. 2022- 30 Jun. 2022
Marketing expenses	(71,991)	(109,941)
Internal logistic costs	(36,105)	(38,538)
Legal, consulting and financial statements costs	(5,276)	(6,373)
Other expenses	(58,625)	(49,530)
Total other operating expenses	(171,998)	(204,381)

Other expenses include, among other things, costs relating to other periods, currency translation losses, freelancer costs, costs for IT, ancillary rental costs, impairment losses on receivables and travel and recruiting costs, whereby the increase in other expenses is due in particular to exchange rate effects and impairment losses on receivables. The change in impairment on receivables recognised in profit or loss is reported in the consolidated statement of cash flows under other non-cash effects within the cash flows from operating activities.

3.5 Finance income and finance costs

The increase in financial income is mainly attributable to the increase in interest rates and the related interest income on cash and cash equivalents.

Interest expense consists mainly of interest expense on the Inventory ABS facility, which increased due to the increase in market interest rates, and interest expense on lease liabilities. The interest expense from the Consumer Loan ABS facility, on the other hand, is presented under cost of materials.

3.6 Income tax expense

Income tax expense is recognized as an amount determined by multiplying the profit (loss) before tax for the interim reporting period by the best estimate of the weighted-average annual income tax rate expected for the full financial year, adjusted for the tax effect of certain items recognized in full in the interim period. As such, the effective tax rate in the interim financial statements may differ from management's estimate of the effective tax rate for the annual financial statements. The effective tax rate for the six months ended 30 June 2023 was 4.49% (first half year 2022: 24.47%) and results from profit-making entities with a service level agreement for transfer pricing purposes. The reduction compared with the same period of the previous year is since tax groups have been established in the majority of the countries in which AUTO1 operates.

4. Notes to the condensed interim statement of financial position

4.1 Property, plant and equipment

Investments in fixtures and fittings of the AUTO1 Group resulted in an increase in property, plant and equipment of KEUR 2,111 to KEUR 125,601. Right of use assets recognised within property, plant and equipment were subject to an impairment loss of KEUR 2,313 in the reporting period, which is included in the expenses for depreciation, amortisation and impairment in the consolidated statement of profit or loss and other comprehensive income.

4.2 Inventories

Inventories decreased by KEUR 188,847 to KEUR 428,726. Both segments recorded a decrease in inventories. In the reporting period ending 30 June 2023, the write-down of inventories to net realisable value decreased by KEUR 9,096 (increased by KEUR 5,906 in the same period of the previous year). The effects from the valuation of inventories are reported in the consolidated statement of profit or loss and other comprehensive income under cost of materials and in the consolidated statement of cash flows under other non-cash effects within the cash flows from operating activities.

4.3 Trade and other receivables

Trade and other receivables (30 June 2023: non-current KEUR 196,430 and current KEUR 111,818; 31 December 2022: non-current KEUR 151,703 and current 117,547) increased in total by KEUR 38,998 to KEUR 308,248 (2022: KEUR 269,250) which reflects an increase in instalment sales. In the financial year 2021, the Group began offering Autohero vehicles to its customers on instalment purchases, which results in an increase in non-current trade receivables. The portion of instalment purchase receivables due within the next twelve months is classified as current. At the end of the reporting period, instalment purchase receivables totalled KEUR 228,133 (previous year: KEUR 185,635).

4.4 Other financial assets

The following table shows the items of other financial assets:

KEUR	30 Jun. 2023	31 Dec. 2022
Other financial assets (non-current)
Deposits	6,004	5,771
Derivative financial instruments	8,531	6,417
Total	14,536	12,189
Other financial assets (current)
Deposits	3,464	3,035
Total	3,464	3,035

Deposits primarily include security deposits for rental agreements. In addition, other non-current financial assets include interest rate hedging instruments measured at fair value.

Other current financial assets include security deposits.

4.5 Share capital and capital reserve

The following table shows the development of the share capital and capital reserve:

KEUR	Share Capital	Capital Reserves
As at 1 January 2023	215,696	1,711,745
Capital increase (SCP/VOP/ VSIP) in March 2023	202	3,007
Capital increase (SCP/VOP/ VSIP) in May 2023	90	1,125
As at 30 June 2023	215,988	1,715,877

Section 5.1 contains further explanations on the share-based payments from which the changes in share capital and capital reserves result.

4.6 Financial liabilities

In December 2020, AUTO1 Group SE together with the banks and lenders established the structured entity AUTO1 Funding B.V. based in Amsterdam, the Netherlands, which is controlled and fully consolidated by AUTO1 Group SE. AUTO1 Funding B.V. issued promissory note loans and registered bonds on 29 January 2021, to finance the Group's growing vehicle business. The Inventory ABS facility has now been increased to a total amount of EUR 1,035 million and an extension until 2025 has been agreed. The financing commitments of the senior noteholders as main participants in the program amount to EUR 800 million.

In addition, in February 2022, the structured entity Autohero Funding 1 B.V. was founded with its registered office in Amsterdam, the Netherlands, which is controlled and fully consolidated by AUTO1 Group SE. Autohero Funding 1 B.V. issued promissory note loans on 4 April 2022 to finance the Group's growing instalment purchase program. The Consumer Loan ABS facility comprises a total volume of EUR 250 million (85% of which are external Senior notes) and matures in April 2027.

The promissory note loans and registered bonds were recognised in the balance sheet as follows:

KEUR	30 Jun. 2023	31 Dec. 2022
Financial liabilities (non-current)
Liabilities to financial institutions	534,136	617,398
Total	534,136	617,398
Financial liabilities (current)
Liabilities to financial institutions	-	11,000
Interest and fees accrued	478	295
Total	478	11,295

The reduction in non-current financial liabilities resulted in particular from the lower utilisation of the Inventory ABS facility. The decrease in current liabilities to financial institutions is due to the repayment of a mezzanine tranche from the Inventory ABS facility.

4.7 Other financial liabilities

Other financial liabilities essentially include leasing liabilities as well as liabilities from incoming payments from the factoring of VAT receivables where the VAT receivables have not yet been derecognised. In the reporting period, other financial liabilities increased by KEUR 8,445 due to factoring (31 December 2022 KEUR 8,751). In the consolidated statement of cash flows, payments from the factor are classified as incoming payments on the VAT receivable and are therefore reported in cash flows from operating activities.

4.8 Other liabilities

Other liabilities, which decreased slightly as of the reporting date, mainly consist of contract liabilities.

Contract liabilities relate to dealer transactions. A contract liability corresponding to the receivable is recognised when a payment is due from a dealer. Revenue in respect of outstanding contract liabilities is recognised upon payment.

Personnel-related liabilities primarily include holiday accruals, payroll tax liabilities and social insurance contributions.

5. Other disclosures

5.1 Share-based payments

Share based payments expenses recognised in personnel expenses amount to KEUR 5,934 for the sixth months period ended 30 June 2023 (first half year 2022: KEUR 3,782). The share-based payment programs described in the 2022 consolidated financial statements continued to take place in 2023.

5.2 Financial instruments and fair value measurements

5.2.1 Fair value measurement

The Group assesses the inputs used to measure fair value using the three-tier hierarchy in accordance with IFRS 13. The hierarchy indicates the extent to which inputs used in measuring fair value are observable in the market. When measuring the fair value of an asset or a liability, the Group uses observable market data as far as possible.

Level 1 inputs include unadjusted quoted prices in active markets for identical assets or liabilities.

Level 2 inputs (excluding quoted prices included in Level 1), comprise inputs that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, quoted prices from identical or similar assets or liabilities in inactive markets and observable inputs for the asset or liability.

Level 3 inputs that are significant to the measurement that is unobservable in the market and includes management's judgements about the assumptions market participants would use in pricing the asset or liability (including assumptions about risk).

If the inputs used to measure the fair value of an asset or a liability might be categorised in different levels of the fair value hierarchy, then the fair value measurement is categorised in its entirety at the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement.

The Group recognises transfers between levels of the fair value hierarchy at the end of the reporting period during which the change has occurred. No transfers between levels of the fair value hierarchy have occurred.

5.2.2 Accounting classifications and fair values

The following table shows the carrying amounts and fair values of financial assets and financial liabilities, including their classification in the measurement categories of IFRS 9. The carrying amounts of cash and cash equivalents, current trade and other receivable as well as trade payables is approximately their fair value due to their short-term maturities. The fair value of non-current trade receivables may differ from the carrying amount, in particular due to changes in the interest rate environment. For all other financial assets and liabilities, no changes have occurred that would have had a material effect on the fair value of these instruments since their initial recognition.

30 Jun. 2023

KEUR	Measurement Category	Carrying Amount	Fair Value	Fair Value Hierarchy
Financial assets
Non-current financial assets		210,966
of which receivables from instalment purchases	Measured at amortised cost	196,430	190,434	2
of which derivative financial instruments	No measurement category pursuant to IFRS 9	8,531	8,531	2
of which other non-current financial assets	Measured at amortised cost	6,004	n/a	n/a
Trade and other receivables (current)	Measured at amortised cost	111,818	n/a	n/a
Other current financial assets	Measured at amortised cost	3,464	n/a	n/a
Cash and cash equivalents	Measured at amortised cost	553,891	n/a	n/a
Financial liabilities Non-current financial liabilities		584,090
of which financial liabilities	Measured at amortised cost	534,136	534,136	2
of which lease liabilities	No measurement category according to IFRS 9	49,931	n/a	n/a
of which other financial liabilities	Measured at amortised cost	23	n/a	n/a
Trade and other payables	Measured at amortised cost	162,727	n/a	n/a
Other current financial liabilities		43,549
of which financial liabilities to banks and investors	Measured at amortised cost	478	n/a	n/a
of which lease liabilities	No measurement category according to IFRS 9	25,871	n/a	n/a
of which other current financial liabilities	Measured at amortised cost	17,200	n/a	n/a

31 Dec. 2022

KEUR	Measurement Category	Carrying Amount	Fair Value	Fair Value Hierarchy
Financial assets
Non-current financial assets		163,891
of which receivables from instalment purchases	Measured at amortised cost	151,703	146,991	2
of which derivative financial instruments	No measurement category pursuant to IFRS 9	6,417	6,417	2
of which other non-current financial assets	Measured at amortised cost	5,771	n/a	n/a
Trade and other receivables	Measured at amortised cost	117,547	n/a	n/a
Other current financial assets	Measured at amortised cost	3,035	n/a	n/a
Cash and cash equivalents	Measured at amortised cost	542,431	n/a	n/a
Financial liabilities
Non-current financial liabilities		666,654
of which financial liabilities	Measured at amortised cost	617,398	617,398	2
of which lease liabilities	No measurement category according to IFRS 9	49,233	n/a	n/a
of which other financial liabilities	Measured at amortised cost	23	n/a	n/a
Trade and other payables	Measured at amortised cost	143,285	n/a	n/a
Other current financial liabilities		33,560
of which lease liabilities	No measurement category according to IFRS 9	24,809	n/a	n/a
of which other current financial liabilities	Measured at amortised cost	8,751	n/a	n/a

The fair value of receivables from instalment purchases was determined using the discounted cash flow method. The fair value of derivative financial instruments, all of which were interest rate caps at the reporting date, was determined using the Black-Scholes model.

5.3 Related parties

Until 30 June 2023 and 2022, the members of the Management Board and the Supervisory Board received the following compensation.

KEUR	1 Jan. 2023 - 30 Jun. 2023	1 Jan. 2022- 30 Jun. 2022
Short-term employee benefits	791	881
Share-based payments	333	400
Total	1,124	1,281

5.4 Earnings per share

Basic earnings per share were calculated based on the net income attributable to ordinary shareholders and the weighted average number of ordinary shares.

	1 Jan. 2023 - 30 Jun. 2023	1 Jan. 2022- 30 Jun. 2022
Earnings per share (basic and diluted)	(0.36)	(0.63)

Treasury shares are excluded from the calculation.

	1. Jan. 2023 - 30. Jun. 2023	1. Jan. 2022 - 30. Jun. 2022
Consolidated loss for the period in KEUR	(76,904)	(133,504)
Net loss attributable to ordinary shares (for basic and diluted earnings per share)	(76,904)	(133,504)

Weighted average of ordinary shares in 2023 (basic and diluted):

Thousands of shares	1 Jan. 2023- 30 Jun. 2023
Ordinary shares at 1 Jan.	214,461
Effect of common shares vested in February 2023	49
Effect of capital increase in March 2023	114
Effect of common shares vested in May 2023	15
Effect of capital increase in May 2023	17
Weighted average number of Ordinary shares as at 30 June 2023	214,656

The following options were excluded in the calculation of the diluted weighted average number of ordinary shares on 30 June 2023 because their effect would have been anti-dilutive:

Thousands of shares	1 Jan. 2023- 30 Jun. 2023
Unvested ordinary shares - member of the Management Board	206
Potential ordinary shares from the incentive program for virtual shares	1,501
Potential ordinary shares from the Long Term Incentive Plan 2017	2,265
Potential ordinary shares from the Long Term Incentive Plan 2020	7,500
Potential ordinary shares from Share Compensation Program	878
Potential ordinary shares from Virtual Options Program	1,467
Potential ordinary shares from Matching Shares Program	25
Total number of potential ordinary shares	13,842

Weighted average of ordinary shares in 2022 (basic and diluted):

Thousands of shares	1 Jan. 2022 - 30 Jun. 2022
Ordinary shares at 1 Jan.	211,587
Effect of capital increase (exercised virtual shares)	1.656
Effect of common shares vested in February 2022	49
Effect of capital increase (exercised virtual shares)	119
Effect of common shares vested in April 2022	15
Weighted average number of Ordinary shares as at 30 June 2022	213,425

The following options were excluded in the calculation of the diluted weighted average number of ordinary shares on 30 June 2022 because their effective would have been anti-dilutive:

In Tausend Aktien	1. Jan. 2022- 30. Jun. 2022
Unvested ordinary shares - member of the Management Board	480
Potential ordinary shares from the incentive program for virtual shares	1,950
Potential ordinary shares from the Long Term Incentive Plan 2017	2,265
Potential ordinary shares from the Long Term Incentive Plan 2020	7,500
Potential ordinary shares from Share Compensation Program	223
Potential ordinary shares from Virtual Options Program	204
Total number of potential ordinary shares	12,622

5.5 Subsequent events

There were no significant events after the reporting date.

Responsibility Statement

We hereby confirm that, to the best of our knowledge and in accordance with the applicable reporting principles for interim financial reporting, the consolidated interim financial statements give a true and fair view of the assets, liabilities, financial position and profit or loss of the Group, and the interim group management report includes a fair review of the development and performance of the business and the financial position of the Group, together with a description of the significant opportunities and risks associated with the expected development of the Group in the remaining financial year.

Berlin, 12. September 2023 AUTO1 Group SE

Christian Bertermann CEO

Markus Boser CFO

PAGE 35	Glossary
PAGE 36	Financial Calendar
PAGE 36	Contact

Glossary

ABS

Asset-backed-securitization facilities, which are utilized to secure long-term, cost-efficient financing of the inventory as well as installment purchase loans.

Adjusted EBITDA

EBITDA adjusted for separately disclosed items including nonoperating effects, which comprise share-based payments and other non-operating expenses.

ASP

Abbreviation for "Average Selling Price", defined as revenue for the period divided by the number of cars sold.

AUTO1 Group SE

The Company, together with its consolidated subsidiaries.

Autohero

Retail sales channel of the Auto1 Group to sell used cars to private customers.

C2B

Abbreviation for the purchase channel of the AUTO1 Group, which stands for the procurement of used cars from private individuals via "we buy your car" and corresponding brands in all purchase countries.

EUR

The single European currency adopted by certain participating member states of the European Union, including Germany.

GPU

Gross profit per unit, defined as gross profit divided by units sold in a respective period.

Gross Profit (GP)

Defined as Revenue less cost of materials.

Merchant

Wholesale sales channel of the AUTO1 Group to sell used cars to dealers.

NPS

Abbreviation for "Net Promoter Score", a key figure that measures the extent to which consumers would recommend a product or service to others.

Remarketing

Name for the purchase channel of the AUTO1 Group, which stands for the procurement of used cars from the dealer side.

Retail

See Autohero.

Financial Calendar

2023

8. November Press Release - quarterly statement (call-date Q3)

Contact

Investor Relations

Philip Reicherstorfer

+49 30 2016 38 213 ir@auto1-group.com Alexander Enge

+49 30 2016 38 213 ir@auto1-group.com

Publisher

AUTO1 Group SE

Bergmannstraße 72, 10961 Berlin +49 30 2016 38 1901 info@auto1-group.com

Disclaimer

Certain statements in this communication may constitute forward looking statements. These statements are based on assumptions that are believed to be reasonable at the time they are made, and are subject to significant risks and uncertainties. Our actual results may differ materially and adversely from any forward-looking statements discussed in this communication. You should not rely on forward-looking statements as predictions of future events. We do not undertake any obligation to update or revise these statements and do not accept any liability regarding the achievement of forward looking statements.

SERVICE

Bergmannstraße 72, 10961 Berlin, Germany +4930201638360 info@auto1-group.com

2023 H1 HALF-YEAR REPORT 37