AutoCanada Inc. — Proxy Solicitation & Information Statement 2026

Apr 1, 2026

Notice of Annual Meeting of Shareholders

NOTICE IS HEREBY GIVEN that the annual meeting (including any adjournments or postponements thereof, the "Meeting") of the holders (the "Shareholders") of common shares (the "Shares") of AutoCanada Inc. (the "Company" or "AutoCanada") will be held online at https://meetnow.global/M4JRWFT on Thursday, May 14, 2026 at 1:00 p.m. (Eastern Time) for the following purposes:

1. TO RECEIVE the audited consolidated financial statements for the year ended December 31, 2025, together with the report of the auditor thereon;
2. TO ELECT the directors of the Company for the ensuing year;
3. TO APPOINT PricewaterhouseCoopers LLP as the independent auditor of the Company and authorize the Board of Directors of the Company to fix their remuneration; and
4. TO TRANSACT such other business as may properly be brought before the Meeting.

As a Shareholder, you are entitled to attend the Meeting and to cast one vote for each Share that you own. The specific details of all matters proposed to be put before the Meeting are set forth in the Management Information Circular accompanying this Notice of Meeting.

It is desirable that as many Shares as possible be represented at the Meeting. If you do not expect to attend and would like your Shares represented, please complete the enclosed instrument of proxy and return it as soon as possible in the envelope provided for that purpose to the Company's transfer agent, Computershare Trust Company of Canada ("Computershare"), as follows:

1. By mail or courier to Computershare, 320 Bay Street, 14th Floor, Toronto, Ontario, M5H 4A6;
2. By hand delivery to Computershare, 320 Bay Street, 14th Floor, Toronto, Ontario, M5H 4A6; or
3. By internet at www.investorvote.com.

All proxies, to be valid, must be received by Computershare, at least forty-eight (48) hours (excluding Saturdays, Sundays and holidays) prior to the Meeting. Late proxies may be accepted or rejected by the Chair of the Meeting in his or her discretion, and the Chair of the Meeting is under no obligation to accept or reject any particular late proxy.

If you are a non-registered beneficial Shareholder, you must follow the instructions provided by your broker, securities dealer, bank, trust company or similar entity in order to vote your Shares. The accompanying Management Information Circular provides additional information relating to the matters to be dealt with at the Meeting.

DATED at Edmonton, Alberta this 24th day of March, 2026.

BY ORDER OF THE BOARD OF DIRECTORS

(signed)

Cynthia Hill
Executive Vice President, General Counsel and Corporate Secretary