CAR GROUP LIMITED — AGM Information 2023

Oct 26, 2023

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2023 AGM Presentation

27 October 2023

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Agenda

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1 2 3 4 Performance Financial Operating Strategy Summary Review Segments Update Review 3 - 11 12 - 16 17 - 23 24 - 33

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2

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1. Performance Summary

Delivering Strong Shareholder Returns

carsales (CAR) Total Shareholder Return (TSR) v S&P ASX200 Total Return Index (AXNT)[1]

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900%
carsales (ASX:CAR) S&P ASX200
800%
784%
700%
600%
500%
400%
300%
200%
172%
100%
0%
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4

(1) Total Shareholder Returns (TSR) includes dividends paid and share price appreciation from 10 September 2009 to 13 September 2023.

FY23 Financial Summary

• Outstanding financial performance with 18% proforma[1] revenue growth, 19% proforma[1] EBITDA growth and margin expansion to 53%

• Excellent progress on strategic priorities and continued investment in long-term growth initiatives

• Creating substantial value through delivery of carsales' products and IP in US and Brazil

• Double-digit revenue and earnings growth in all key markets

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Proforma [1] Adjusted [1] Reported
Consolidation of acquisitions in both periods Actual ownership excluding abnormal items In accordance with IFRS
Revenue Revenue Revenue
$942m 18% $781m 53% $781m 53%
vs pcp
EBITDA EBITDA EBITDA
$496m 19% $425m 57% $400m 49%
NPAT NPAT
$278m 43% $646m 301%
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• (1) Proforma financial information assumes consolidation of Trader Interactive and webmotors in FY23 and prior periods. Proforma NPAT not provided due to the complexity in determining Trader Interactive and webmotors’ financial information under a hypothetical capital structure. Adjusted financials excludes certain non-recurring or non-cash items. Refer FY23 results presentation appendix regarding the disclosure of non-IFRS Information and for a reconciliation of Adjusted to Reported Financials.

5

FY23 Operational Metrics

Excellent operational metrics reflect strength of our global marketplaces

Marketplace Highlights Dealer Highlights Consumer Highlights

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2.2 million 48 thousand 18 billion
Vehicles online [1] Subscribed dealers [2] Page views [3]
1.2 billion 410 thousand 11x more preferred
Total sessions [4] Encar car inspections [5] v nearest competitor [6]
42 million 22 million 8% Faster
Unique audience
Dealer leads delivered [8] Time to sell [9]
per month [7]
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All arrows show change vs. FY19

(1) Inventory published for websites in Australia, South Korea, United States, Brazil, Mexico, and Chile as at 30 Jun 23. (2) Number of active dealers in Australia, South Korea, United States, Brazil, Mexico and Chile as at 30 Jun 23. (3) Page views for websites in Australia, South Korea, United States, Brazil, Mexico and Chile for period 1 Jul 22 – 30 Jun 23. (4) Google Analytics, sessions for websites in Australia, South Korea, United States, Brazil, Mexico and Chile for period 1 Jul 22 – 30 Jun 23. (5) South Korea - carsales internal data, cars inspected for period 1 Jul 22 – 30 Jun 23. (6) Study conducted by independent research agency, Nature Pty Ltd, “market brand health tracker Jun 23”. If you had to choose one tomorrow, which one would you most prefer for buying or selling a new / used car? carsales.com.au vs. competitors. (7) Google Analytics, unique audience for websites in Australia, South Korea, United States, Brazil, Mexico and Chile, monthly average for period 1 Jul 22 – 30 Jun 23. (8) Dealer leads from websites in Australia, South Korea, United States, Brazil, Mexico, and Chile for period 1 Jul 22 – 30 Jun 23. (9) Median time to sell Jun-23 vs. Jun-19 average for Australian used private and dealer inventory.

6

Market Opportunity

We operate in large markets with significant opportunity for future long-term growth

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Market Share
(revenue / TAM)
$2.6 billion Market Share
$3.2 billion
$2.0 billion1 9%
4%
FY15 FY23
$2.5 billion1
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7

Refer to slide 41 of FY23 results presentation for calculation methodology. (1) Brazil and Korea re-stated to reflect recalculation of dealer and inclusion of media and private addressable markets.

Strong US Growth Since Acquisition

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Key Revenue Synergies Being Delivered

Revenue Growth Has Increased

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October
2022
Lead Amplifier
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Revenue (USDm) and Growth vs pcp (%) by Half Revenue (USDm) Growth v pcp

• Audience extension product with 75% dealer uptake

• Price of 99USD per month

• Delivering low single-digit increase in revenue growth

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March
2023
Dynamic Pricing
Dynamic pricing for private seller advertisements
Delivering significant increase in private ad yield of 30% [[1]]
April
Premium Select 2023
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• Dynamic pricing for private seller advertisements

• Live on all key sites

• Delivering significant increase in private ad yield of 30%[[1]]

• Ranking product that promotes vehicle to top of search

• Live on all key sites

• Signed >400 dealers at monthly yield of USD550

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+16%
+11%
84
+9%
77
72
70
66
H2 21 H1 22 H2 22 H1 23 H2 23
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(1) Jun-23 v Jun-22

Strong webmotors Progress

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National expansion driving increased audience and new initiatives gaining traction

National Expansion

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Investment in increasing brand presence is yielding strong benefits
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Curitiba (Pop. 3.7m) Brasília (Pop. 4.3m)
60% 80%
webmotors #2 webmotors #2
60%
40%
40%
20%
20%
0% 0%
Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23
Goiania (Pop. 2.7m) Salvador (Pop. 3.9m)
80% 60%
webmotors #2 webmotors #2
60% 50%
40% 40%
20% 30%
0% 20%
Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23
1Market share
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Dynamic Pricing

• Private Ad Yield

• • Dynamic pricing engine 12% implemented mid-June

• • Increased private ad 8% yield 12% with no volume loss

• • More upside to come through additional initiatives FY19 - FY22 June 23 CAGR vs pcp

What’s Next – Media

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Revenue per Visit [2]
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• webmotors has a huge audience but derives minimal media revenue

• Initial media revenue 10x upside will come from deployment of carsales’ programmatic technology which will deliver improved ad quality and pricing wm cs

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9

(1) Source: Google Analytics. (2) Visits and revenue for the period of Jul-22 - Jun-23. Assumes an AUD / BRL exchange rate of 3.23.

Delivered Compelling Double-Digit Growth Over 16 Years Through Different Economic Cycles

Highly resilient and countercyclical business model

• carsales is more geared to used vehicle buy & sell transactions which have less cyclicality than new vehicle buy transactions

• Dealers & OEMs need to move inventory in any economic environment

• Marketplaces deliver a high return on investment versus other advertising sources and tends to be last channel to be reduced

• Subscription model for dealers in the US and Korea results in high recurring levels of revenues

• Cost base has a good level of flexibility

• Diversity of geographies and industries provide further resilience

Group Proforma Financial Performance (AUDm)

46% growth through pandemic

Revenue EBITDA

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900
800
700 42% growth
through Brazilian
recession Revenue
600
CAGR: 15%
500
400
108% growth
through GFC
300 EBITDA
CAGR: 16%
200
100
0
FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23
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1,000 900 800 700 600 500 400 108% growth through GFC

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10

Refer to footnote 1 on slide 5 for proforma definition.

Positive Outlook for FY24

Four months into the new financial year we are very pleased with how the company continues to perform, which gives us confidence in the reiteration of the outlook statement provided in August:

Outlook statement

Proforma Basis

We expect to deliver good growth in Revenue and EBITDA in FY24

Actual Basis

We expect to deliver very strong growth in Revenue and Adjusted EBITDA and strong growth in Adjusted NPAT in FY24

Margin

We expect to see expansion in the carsales Group EBITDA margin on a proforma basis in FY24

Australia Observations

International Observations

Dealer

• We expect to deliver solid growth in dealer revenue in FY24 supported by increased penetration of premium products including depth and dealer finance along with yield increases

United States

• We expect good growth in revenue and strong growth in EBITDA in FY24

Brazil

Private

• Anticipate good revenue growth supported by private ad volume growth, private ad yield and Instant Offer

• We expect strong growth in revenue and strong growth in EBITDA in FY24

Korea

Media

• Expect good revenue growth supported by continued expansion of our native ad products, programmatic capability and nonautomotive diversification

• We expect good growth in revenueand solid growth in EBITDA in FY24

Investments

• Expecting good growth in revenue and similar EBITDA versus FY23

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11

All financial references are on a constant currency basis. Refer to footnote 1 on slide 5 for proforma and adjusted financial definitions.

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2. Financial Review

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Strong Track Record of Growth

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Proforma
Revenue [1] ($m)
942
820
698
640
619
FY19 FY20 FY21 FY22 FY23
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Proforma
EBITDA [1] ($m)
496
428
386
330
312
FY19 FY20 FY21 FY22 FY23
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Adjusted
NPAT ($m)
278
195
153
138
130
FY19 FY20 FY21 FY22 FY23
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Adjusted
EPS [2] (cents)
78.1
66.5
58.4
53.6
50.6
FY19 FY20 FY21 FY22 FY23
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(1) Revenue and EBITDA are presented on a constant currency basis. Refer to footnote 1 on slide 5 for proforma and adjusted financial definitions. (2) In accordance with AASB133, historical EPS has been restated based on an adjustment factor to take into account the new shares issued in connection with the Trader Interactive and webmotors acquisitions.

13

P&L Summary

P&L Summary	P&L Summary	P&L Summary
Actual Basis
$A Millions FY22 FY23 Growth %
Revenue 509.5	781.0	53%
Operating expense 238.4	356.1	49%
Adjusted EBITDA 271.2	424.9	57%
Depreciation & amortisation 38.6 Net finance cost 13.1 Income tax expense 64.1 Profits from associates & NCI 39.4	50.7 48.9 61.8 14.7	31% 275% (4%) (63%)
Adjusted NPAT 194.8 Adjusted earnings per share (cents)1 66.5 Final dividend per share (cents) 24.5	278.2	43% 17% 33%
	78.1 32.5

Reconciliaton of Adjusted NPAT to Reported NPAT

~~Reconciliation of Reported NPAT to Adjusted NPAT~~

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Adjusted NPAT 194.8	278.2	43%
Gain on step acqusition - Acquired intangible amortisation (23.0) Impairment of investments - M&A and other significant items (11.1)	486.5 (49.0) (37.6) (32.5)	n.m. n.m. n.m. n.m.
Reported NPAT 160.8	645.6	301%

• Very strong increase in revenue and EBITDA reflects strong underlying double-digit growth and the consolidation of Trader Interactive and webmotors in FY23

• D&A largely reflects depreciation of building fit outs and software assets. The high growth is largely due to the inclusion of Trader Interactive and webmotors. The software investment continues to support ongoing growth, which was strong in FY23

• Net finance cost increase reflects an increased debt balance and a higher average interest rate

• Profits from associates & NCI largely reflects contribution from webmotors and Trader Interactive as associates. Profit contribution is lower in FY23 vs FY22 because both were equity accounted for a shorter duration in FY23

• Final dividend of 32.5 cents per share declared, up 33% on pcp. Dividend will be franked at 50%

• Reported NPAT is higher than Adjusted NPAT largely due to the one-off gain recognised on moving to majority ownership in the US and Brazil

• M&A costs comprises costs associated with the US and Brazil transactions

• Impairment largely reflects non-cash impairment of Tyres Group business due to a more challenging operating environment

14

Refer to footnote 1 on slide 5 for proforma and adjusted financial definitions. FY22 EBITDA and Net Finance cost has been restated for consistent presentation of Finance cost. (1) In accordance with AASB 133, FY22 EPS has been restated based on an adjustment factor to take into account the New Shares issued in connection with the Trader Interactive and webmotors acquisitions. The TERP adjustment factor is approximately 0.9647.

Segment Performance

Delivering double-digit revenue and earnings growth in all key segments

Proforma Basis

$A Millions FY22	FY23 Growth %	FY23 Growth %
Australia2 351.7 Asia 95.4	399.1	13%
	103.9	9%
North America 195.5 Latin America 99.0	239.4 138.9	22% 40%
Investments 56.5	60.9	8%
Revenue 798.1	942.2	18%
Australia1 226.6
	258.6	14%
Asia 48.1 North America 111.2 Latin America 31.8	52.5 140.0 47.7	9% 26% 50%
Investments (1.9)	(3.0)	n.m.
Adjusted EBITDA 415.8	495.7	19%

• Australia – excellent revenue and EBITDA result driven by continuing to provide a compelling value proposition for our customers. Reflected in double digit growth across the Private, Dealer and Media revenue segments. Achieved margin expansion whilst continuing to invest in future growth

• Asia – Good revenue and earnings growth primarily driven by increasing the penetration rate of the Guarantee and Encar Home products in South Korea

• North America – delivered another excellent revenue and margin result via strong customer acquisition momentum, yield increases through premium product penetration and continuing to demonstrate operating leverage

• Latin America – this segment comprises Brazil, Chile and Mexico. The strong growth largely derives from the performance in Brazil. The national expansion campaign in Brazil delivered strong growth in customer acquisition and yield increases through premium product penetration

• Investments – Solid revenue growth in Redbook Inspect and the Tyres Group. Lower EBITDA result due to lower margin in Tyres due to higher freight costs

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15

Refer to footnote 1 on slide 5 for proforma and adjusted financial definitions. (1) Represents growth in local currencies. (2) Australia reflects Online Advertising and Data Research & Services segments.

Strong Cash Flow and Robust Balance Sheet

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Cash flow conversion Leverage [2] and net debt Capex
•
• Good conversion of EBITDA to cash • Net debt and leverage ratio increase Key investments in digital retailing
reflects the attractive working capital reflects incremental debt drawn down and trade-in, dynamic pricing and
media technology continue to drive
profile of marketplace business as part the 51% acquisition of Trader
growth in all our markets
models and good cash collections Interactive, which was completed in
Sep-22 • We expect FY24 capex as a % of
• FY23 Leverage on proforma [2] basis revenue to be similar to FY23
remains prudent at 1.96x
EBITDA to Cash flow Capex
Cash flow [1] Proforma capex
Reported EBITDA to cash conversion Capex as % of proforma revenue
Net debt
395
100 86 30%
80 71 25%
257 266 $A Millions FY22 FY23 %
20%
216 Borrowings 650 1,172 (80%) 60
15%
Cash (132) (199) 50% 40
10%
107% 106% Net Debt 518 973 (88%)
99% 99% 20 9% 9% 5%
Leverage ratio 1.91 1.96 n/a
0 0%
3
FY20 FY21 FY22 FY23 FY22 FY23
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16

(1) Operating cash flow less tax. (2) FY23 Leverage ratio has been calculated on the basis of net debt / proforma EBITDA. Refer to footnote 1 on slide 5 for proforma and adjusted financial definitions. Ratios are based on proforma financial outcomes and may vary with bank covenant definitions. (3) Proforma capex includes 100% of the capex for Trader Interactive and webmotors in both FY22 and FY23. FY23 capex above excludes a one-off brand purchase in South Korea.

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3. Operating Segments Review

Strong Marketplace Metrics

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+15% +21% +49% +2%
FY19 FY23 FY19 FY23 FY19 FY23 FY19 FY23
+10% +41% +10% +57%
FY19 FY23 FY19 FY23 FY19 FY23 FY19 FY23
250 1.5 200 500
200
1.0 150 400
150
100
0.5 100 300
50
000s m 000s 000s
0 0.0 50 200
1
Traffic
Leads
2
Inventory
-20 -20 -20 -21 -21 -22 -22 32 -2 -23
Feb-20 Jul-20 Dec-20 May-21 Oct-21 Mar-22 Aug-22 Jan-23 Jun-23 Feb-20 Jul-20 Dec-20 May-21 Oct-21 Mar-22 Aug-22 Jan-23 Jun-23 Feb-20 Jul-20 Dec-20 May-21 Oct-21 Mar-22 Aug-22 Jan-23 Jun-23 FebJan JulJun DecNov MayApr OctSep FebMar JulAug JanDec JunMay
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(1) Traffic measurement sources: US, Korea: Google Analytics, Brazil: Adobe. (2) Trader Interactive monthly unique listings. Other markets listing volumes on last day of each month

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18

Australia - carsales

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Excellent execution on key priorities supported by strength and resilience in the used car market

Financial summary

Performance commentary

$A millions FY22 FY23 %	$A millions FY22 FY23 %	$A millions FY22 FY23 %
Dealer 183.8 Private 69.4 Media 54.5 Data, Research & Services 44.1	203.0	10%
	89.9	30%
	60.6	11%
	45.6	4%
Revenue 351.7	399.1	13%
Adjusted EBITDA 226.6	258.6	14%

• Outstanding FY23 result with double digit growth in Dealer, Private and Media segments

• Extended our market leadership position from an audience and inventory perspective, reflecting the strength of carsales’ value proposition. Result also supported by the resilience of the Australian used car market, growth in new car sales and a healthy dealer network

• Dealer performance underpinned by higher yields and increasing penetration of premium products, which was primarily depth products

Revenue Growth Contribution ($m)

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+13%
20.5 6.1 1.6 399.1
400 19.2
351.7
350
300
250
200
150
100
50
0
FY22 Dealer Private Media DR&S FY23
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• Excellent Private revenue outcome driven by record volumes, increased ad yield and strong growth in Instant Offer volumes

• Media delivered good growth through continued execution of new products and diversification into non-automotive categories

• Resilient result in Data, Research & Services reflects Redbook continuing to maintain its market leading position as a provider of vehicle specification and market insight services

• Small improvement in EBITDA margin reflects the benefits of operating leverage and good cost management. This was despite investing more in future growth and the impact of a more inflationary environment

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North America - Trader Interactive

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Outstanding first year of full ownership with strong progress on synergies driving growth

Financial summary (proforma)

Performance commentary

	FY22	FY23 %	FY23 %
Revenue 141.8 Adjusted EBITDA 80.6 USDm		161.0	14% 17%
		94.1
Revenue 195.5 Adjusted EBITDA 111.2 AUDm		239.4	22%
		140.0	26%

• Strong financial performance reflects delivery of new product, acquiring new customers and investing in technology to drive future growth

• Consumer demand remains elevated versus pre-covid levels with traffic and lead volumes significantly higher than 2019

• Delivered double-digit revenue growth across all verticals in H2, supported by growing inventory levels

• Good customer acquisition, particularly in the under penetrated Powersports and Commercial Truck segment

Revenue Growth Contribution ($USDm)

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+14%
180
160 13.4 3.1 2.7 161.0
141.8
140
120
100
80
60
40
20
FY22 Yield & Dealer Private FY23
Upsell Volume & Other
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• Strong value proposition supported increases in average yield per dealer. Yield uplift delivered through new product releases, package upsells and price increases

• Private growth driven by higher volumes and the implementation of the dynamic pricing engine

• Strong dealer acquisition with >300 new paying dealers subscribed

• Achieved three percentage points of EBITDA margin expansion to 60%, through operating leverage and good cost discipline

• Rapid integration of carsales IP, in particular Premium Select and dynamic pricing to drive momentum into FY24

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20

Refer to footnote 1 on slide 5 for proforma and adjusted financial definitions.

Latin America - webmotors

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Excellent financial performance with strong growth in all key areas and margin expansion

Financial summary (proforma)

Performance commentary

	FY22	FY23 %	FY23 %
Revenue 352.1 EBITDA 127.1 BRLm		453.1	29% 31%
		166.6
Revenue 93.1 EBITDA 33.4 AUDm		131.1	41%
		48.3	44%

• Excellent financial performance in Brazil reflecting strong execution of the national expansion plan driving lead volume and dealer subscription growth

• Delivered higher dealer yields through higher premium product penetration and a price increase

• National expansion plan increased market share in key markets Curitiba, Brasília, Goiania and Salvador with a combined population of c.15 million

Revenue Growth Contribution (BRLm)

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+29%
500
23.3 453.1
450 31.5 13.3
400 32.9
352.1
350
300
250
200
150
100
50
0
FY22 Volume Yield & Media & car10 FY23
Upsell Private & Loop
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• Private ad dynamic pricing engine implemented in June 23. This delivered a good uplift in yield with further upside expected in FY24

• Good growth in finance simulations but similar level of transactions due to tight credit market and more conservative lending policies. This should improve in FY24 as credit markets improve and interest rates reduce

• Strong growth in adjacent market services, Car10 and Loop

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21

Refer to footnote 1 on slide 5 for proforma and adjusted financial definitions.

Asia - Encar

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Continued execution on penetrating premium products driving good growth

Financial summary

Performance commentary

	FY22	FY23 %	FY23 %
Revenue 79.3 Adjusted EBITDA 39.7 KRWb		88.2	11% 12%
		44.3
Revenue 90.9 Adjusted EBITDA 45.5 AUDm		98.6	9%
		49.6	9%

• Good growth in revenue and EBITDA which was a pleasing result given tight credit market conditions experienced throughout the year

• Strong inventory growth with listings on site at a record high of 180k

• Performance supported by further increase in penetration of Guarantee product to 46% of all listings. Key drivers were:

• Opening of 4 new inspection centres with 51 now operational across Korea

Revenue Growth Contribution (KRWb)

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+11%
90 5.9 1.3 1.8 88.2
79.3
80
70
60
50
40
30
FY22 Guarantee Encar Home Other FY23
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• Establishment of new dealer contracts at existing inspection centres

• Expansion of minimum volume commitments from existing dealers

• Encar Home transaction volumes were up 43% vs pcp with continued refinement of user experience positively impacting conversion from deposit to delivery

• Dealer Direct volumes impacted by difficult credit market conditions

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22

Refer to footnote 1 on slide 5 for proforma and adjusted financial definitions.

Latin America & Investments

Latin America ex. Brazil[1]

Investments

Revenue 6.1 8.0 31% EBITDA (1.3) (1.3) (1%) CCm1

	1 FY22 FY23 %
Revenue 56.5 60.9 8% AUDm
EBITDA (1.9) (3.0) n.m.

• Strong growth in revenue reflects increasing customer penetration in Chile

• Resolved to exit our Mexican business given the market remains challenging and our focus on other priorities

• Solid revenue result reflects double-digit growth in our inspections business. The tyres business had a challenging year with profitability impacted by higher freight costs. Resulted in recording a non-cash impairment charge of $22m

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23

(1) CC refers to constant currency AUDm, growth in local currency.

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4. Strategy Update

Our Global Priorities

We have a clear set of priorities across our global marketplaces

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1. Market 2. Digital
Leadership Retailing
Expand the Increase digitisation
leadership positions of the vehicle
of our online buying and selling
marketplaces process
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4. Media
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5. Future
Horizons
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3. Dynamic Pricing

Connect advertisers to our audience through the most sophisticated data products

Leverage insights and trends to explore new opportunities in core and adjacent markets

Alignment of price to value in the most structured and automated way

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25

1. Market Leadership

Expand the leadership positions of our online marketplaces

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Lead vs. #2 [1]
7.5x
Increased marketing
investment, expanding
inventory choice and new
product delivery driving
#2 carsales
strong market share
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Lead vs. #2 [2]
5.4x
Continued focus on organic
traffic generation and
investment in Dealer Direct
brand drove significant #2 Encar
increase in leadership over #2
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Lead vs. #2 [2]
3.2x
Expanded market leadership
position through increased
investment in marketing and #2 Trader
growing inventory levels Interactive
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Lead vs. #2 [2]
1.7x
National expansion plan
drove strong increase in lead
over both horizontal and
vertical competitors #2 webmotors
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26

(1) Nielsen Digital Content Ratings. (2) Similarweb Jun-23 sessions vs. #2. Trader Interactive excludes Equipment.

2. Digital Retailing

Increase digitisation of the vehicle buying and selling process

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Our strategy is to adapt key digital retailing features to cater to local market’s conditions

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Car
buying
$
steps
Search Fixed Price Inspection Trade-in Finance & Payment Delivery Own
NEW NEW
> 4mil monthly > No-haggle, pre- > All cars inspected by > Enter trade-in > Finance pre- > Tyresales.com.au
unique visitors [1] negotiated the dealer, a third details into deal sheet approval on all digital
competitive pricing. party or by RedBook to get estimated retailing eligible > caravan &
Reservations Inspect trade-in valuation dealer cars and camping NEW
available private listings accessories
website
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NEW > 10mil monthly > No-haggle, pre> Enter trade-in > Safe and secure unique visitors[2] negotiated details into deal sheet payments available competitive pricing. to get estimated Reservations trade-in valuation available NEW > 14mil monthly > No-haggle, pre> Encar inspects and > Dealer Direct > Encar facilitates > Encar conducts unique visitors[2] negotiated guarantees all eligible platform facilitates finance applications delivery of car on competitive pricing Home cars instant sale dealer with lenders during dealer’s behalf for a auctions buying process fee NEW > 11mil monthly > webmotors will > Consumer enters > webmotors has > Dealer responsible unique visitors[2] conduct inspection at trade-in details into finance application for conducting

NEW > webmotors will > Consumer enters > webmotors has > Dealer responsible > Consumers can conduct inspection at trade-in details into finance application for conducting book collision dealer’s request webmotors app and integration with delivery to consumer’s repairs through negotiates with dealer Banco Santander home Car10 app 27

(1) Nielsen Digital Content Ratings. (2) FY23 average monthly unique sessions, Google Analytics.

3. Dynamic Pricing Alignment of price to value in the most structured and automated way

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• carsales continued rollout of new pricing engine features, with area-based pricing (metro/rural) recently launched

• Implemented value-based dynamic pricing in Trader Interactive and webmotors which is driving strong yield uplift

• Clear path for further increases to private ad yield

Private Ad Yields

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14% 12% 35% 30% 14% 12%
12% 30% 12%
10% 25% 10% 8%
8% 20% 8%
6% 5% 15% 6%
4% 10% 4% 4%
2% 5% 2%
0% 0% 0%
FY12 - FY16 FY16 - FY23 FY19 - FY22 June 23 FY19 - FY22 June 23
CAGR CAGR CAGR vs pcp CAGR vs pcp
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Dynamic Pricing Strategy
Pricing variable
Standard/Premium Value State Metro/rural Suburb/post code Supply/demand
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4. Media

Connect advertisers to our audience through the most sophisticated data products

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Australian double-digit growth continues and adtech is being leveraged into international markets

New audience match technology is increasing advertising market share

• carsales match provides advertisers with the ability to match their first party-data with carsales’ first-partydata

• We then create a ‘carsales id’ which joins the attributes of both data sources and enables advertisers to build segments based on buying signals using Adobe Real-Time CDP

• Advertisers can now create targeted ad campaigns across the entire carsales network without reliance upon third-party cookie technology

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Agency re-brand is
driving new customer
growth
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We are deploying Australian product and technology capability into international markets

• Through re-branding our media agency we are attracting more diverse advertisers and have a significant non-auto customer base

• Implemented programmatic bestpractice into Trader Interactive websites to improve ad viewability, which measures whether an ad is actually seen by users

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Non-auto Contribution [1]
• Improving this metric commands
26% higher yields through increased
24% demand
21%
18% Programmatic Performance [2]
14%
Viewability Daily Revenue
64%
+25%
FY19 FY20 FY21 FY22 FY23 42%
Before After Before After
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(1) Non-Automotive OEM contribution to Media segment revenue. (2) Optimisations implemented 1-July-23. Before = June-23, After = July-23.

5. Future Horizons

Leverage insights and trends to explore new ideas and opportunities

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• In-house product Adjacent International carsales development and marketplace M&A early-stage innovation opportunities opportunities investments

• • Our culture of innovation • Explore horizontal and • Invest in high growth, • Launched in 2022, the encourages creativity and vertical integration underpenetrated carsales’ corporate venture new ideas, harnessing opportunities that leverage international markets capital program looks to emerging technologies and our existing audience make minority investments themes to build new products • Implement IP and product to scale early-stage venture • Recently launched a caravan synergies to accelerate

• • Hackathons empower our ecommerce store and growth • Key focus areas: teams to build new products working on a payments • Adtech and solve customer problems solution in Australia • Fintech outside of day-to-day roles • EV & batteries • Artificial intelligence

• • Product & technology teams hold conferences and regular catchups to share IP across countries

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Artificial Intelligence

AI supports innovation to drive customer experience and efficiency to deliver improved productivity

Our Artificial Intelligence Strategy

Enrich the Consumer Experience

• Deploy artificial intelligence to make searching simpler

• Improve personalisation with more relevant recommendations

• Increase accuracy of vehicle pricing and valuation products

Enhance Security, Trust & Safety

• Protect the identity of buyers and private sellers

• Integrate 3rd party AI software to detect abnormal site activity

• Use Natural Language Processing to detect and prevent unauthorised site access

Optimise Engineering & Processes

• Use AI code-completion to fast-track new software and products

• Use generative AI to produce creative content more efficiently

• Automate manual back-office processing tasks

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Lead Scoring

Machine learning deployed to understand consumer behavioural patterns to determine buyer intent

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Boat GPT

Beta search utilises Chat GPT’s language model to make ad data entry faster and AI comment generation

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Mystique

AI engine that identifies and blurs number plates in an images, providing protection against number plate cloning fraud

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Mobile Diagnosis

During Encar’s Guarantee inspection, photos are analysed by AI to automate detection of registration, optional features, mileage, and specifications

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Cyclops

Tessa

Deep learning image Cuts down private ad recognition tool that review times from classifies vehicle images hours to minutes by during publishing, using AI to review reducing photographer and publish vehicles manual effort. Awarded to sites 2018 IT project of the year by itnews

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Sustainability

We are committed to driving improvement across our Sustainability focus areas

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Environment

• Published our first TFCD report in FY23

• Maintained carbon neutrality in Australian operations in FY23

• Commitment to deliver carbon neutrality in international businesses in FY24

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Social

• Certified as a Great Place to Work for the sixth year in a row and recognised by the Australian Financial Review a Best Place to Work

• Launched our Reflect Reconciliation Action Plan, endorsed in FY23

• 37.5% female representation on the board and 43% females in senior management roles in Australia

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Governance

• Implemented subsidiary boards with independent directors in each of our key geographies. Allows the business to dedicate appropriate focus to local country risks

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How carsales Creates Shareholder Value

carsales presents a highly compelling investment proposition with multiple growth large opportunities across large addressable markets

1 2 3 4 5 Clear leadership Digitising Underpenetrated Transferrable, Strong cash flows positions in each vehicle international scaled IP and with robust of our markets transactions markets technology balance sheet Our leadership There is strong demand Digital advertising Our global technology High margin business positions generate the for frictionless buying spend is lower in our platform and IP can models generate strong strongest network and selling experiences international markets facilitate rapid free cash flows to fund effects, further building creating significant with significant runway deployment of strategic investment in future competitive advantage opportunities for digital to grow through products in all markets growth and provide for and delivering long incumbents increasing take-rates good dividends term growth

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Disclaimer and Non-IFRS Information

Disclaimer

The material in this presentation has been prepared by carsales.com Limited (ASX: CAR) ABN 91 074 444 018 (“carsales") and is general background information about carsales’ activities current as at the date of this presentation. The information is given in summary form and does not purport to be complete. In particular you are cautioned not to place undue reliance on any forward looking statements regarding our belief, intent or expectations with respect to carsales’ businesses, market conditions and/or results of operations, as although due care has been used in the

preparation of such statements, actual results may vary in a material manner. Information in this presentation, including forecast financial information, should not be considered advice or a

recommendation to investors or potential investors in relation to holding, purchasing or selling securities. Before acting on any information you should consider the appropriateness of the information having regard to these matters, any relevant offer document and in particular, you should seek independent financial advice.

Non-IFRS Financial Information

carsales' results are reported under International Financial Reporting Standards (IFRS). This presentation also includes certain non-IFRS measures including “adjusted”, “underlying” “proforma” and “look-through”. These measures are used internally by management to assess the performance of our business and our associates, make decisions on the allocation of resources and assess operational management. Non-IFRS measures have not been subject to audit or review. All numbers listed as reported comply with IFRS.

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Thank you

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