CAR GROUP LIMITED — AGM Information 2024

Oct 24, 2024

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2024 AGM Presentation

25 October 2024

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Agenda

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1 2 3 4
FY24 Financial Operating Strategy
Highlights Performance Segments Update
Page
3 - 10 11 - 15 16 - 20 21 - 28
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2

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1. FY24 Highlights

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3

Delivering Strong Shareholder Returns

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CAR Group (CAR) Total Shareholder Return (TSR) v S&P ASX200 Total Return Index (AXNT) [1]
1,200%
CAR Group (ASX:CAR) S&P ASX200
1,006%
1,000%
800%
600%
400%
224%
200%
0%
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4

(1) Total Shareholder Returns (TSR) includes dividends paid and share price appreciation from 10 September 2009 to 11 October 2024

Financial Performance

Excellent operating and financial performance with double digit revenue and earnings growth in all key markets

Proforma[1]

Adjusted[2]

Reported

Consolidation of acquisitions in both periods

Actual ownership excluding abnormal items

In accordance with IFRS

Revenue 17% $ in AUD 1,099m 15% in CC[3]

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EBITDA
$
581m
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17% in AUD 16% in CC[3]

Revenue $ 41% 1,099m

EBITDA $ 37% 581m NPAT $ 24% 344m

Revenue

$ 41% 1,099m EBITDA $ 42% 568m 4 NPAT $ 61% 250m

All financial information is presented in AUD unless otherwise stated. All comparatives are vs pcp unless otherwise stated. (1) Proforma financial information assumes consolidation of Trader Interactive and webmotors in FY24 and prior periods. Proforma NPAT not provided due to the complexity in determining Trader Interactive and webmotors’ financial information under a hypothetical capital structure. (2) Adjusted financials excludes certain nonrecurring or non-cash items. See slide 29 regarding the disclosure of non-IFRS Information. (3) CC = Constant Currency. Constant Currency represents the underlying change vs pcp in local currency. (4) Reported NPAT of $250m is down from $646m in pcp as it included the recognition of $487m gain on acquisition of Trader Interactive and webmotors.

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5

Operational Highlights

Excellent operational metrics reflect the strength of our global marketplaces

2.6 million 49 thousand Vehicles online[1] Subscribed dealers[2] 1.3 billion 48 million Unique audience Total sessions[4]

1.3 billion

48 million Unique audience per month[5]

18 billion Page views[3]

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22 million
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Dealer leads delivered[6]

All arrows show change vs. FY23

• (1) Inventory published for websites in Australia, South Korea, United States, Brazil, and Chile as at 30 Jun 24.

• (2) Number of active dealers in Australia, South Korea, United States, Brazil and Chile as at 30 Jun 24.

• (3) Page views for websites in Australia, South Korea, United States, Brazil and Chile for period 1 Jul 23 – 30 Jun 24.

• (4) Sessions for websites in Australia, South Korea, United States, Brazil and Chile for period 1 Jul 23 – 30 Jun 24.

• (5) Average monthly unique audience for websites in Australia, South Korea, United States, Brazil and Chile, monthly average for period 1 Jul 23 – 30 Jun 24. (6) Dealer leads from websites in Australia, South Korea, United States, Brazil, and Chile for period 1 Jul 23 – 30 Jun 24. Where relevant, all pcp metrics exclude Mexico.

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6

Our Global Portfolio Of Retail Brands

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Market Leading Positions in Large Addressable Markets

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$2.6 billion $8.4 billion
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$2.5 billion

$2.0 billion

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7

North America TAM re-stated to include private and media. Brazil and South Korea TAM re-stated to reflect recalculation of dealer and inclusion of media and private addressable markets.

Recap On First Year Of Majority Ownership

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Substantial market share gains[1]

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Market share of 2.2
unique visitors times
continues to
grow
Jun-23 Dec-23 Jun-24
webmotors #2
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Strong finance momentum

H2 FY24 Auto Finance contracts[3] Up 35%

Seamless finance integration with Santander and improving macro environment driving growth

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Revenue diversification

Media, Private and Finance Revenue[4] Up 26%

Strong growth in media, private and finance delivering improved diversification

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webmotors Revenue (BRL) [2]
+24%
+21% CAGR
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+21% CAGR
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FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24

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(1) webmotors market share based on monthly unique audience vs #2 across FY24, Similarweb. (2) webmotors revenue excludes car10 and Loop. (3) H2 FY24 vs H2 FY23. (4) FY24 vs FY23

Compelling Growth Through Different Economic Cycles

Group Proforma Financial Performance ($AUDm)

Revenue Revenue EBITDA CAGR: 15%

Highly resilient and countercyclical business model

• CAR Group 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, including when interest rates are high.

• 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 South Korea results in high recurring levels of revenue.

• Cost base has a good level of flexibility.

• Diversity of geographies and industries provide further resilience.

EBITDA CAGR: 16%

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9

Refer to footnote 1 on slide 5 for proforma definition.

FY25 Outlook

Four months into the new financial year, the company continues to perform well, which gives us confidence in the reiteration of our outlook statement provided in August:

Outlook Statement

We expect to deliver good growth in Revenue, Adjusted EBITDA and Adjusted NPAT on a constant currency basis.

Margin

We expect to see similar Adjusted EBITDA margins in FY25.

Australia Observations

International Observations

Dealer

• We expect to deliver good growth in Dealer revenue supported by growth in lead volumes, depth and yield.

North America

• We expect good growth in revenue and good growth in EBITDA.

Private

• We anticipate solid revenue growth supported by dynamic pricing optimisation and Instant Offer growth.

Latin America

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

Media

• We expect good revenue growth supported by continued expansion of our native ad products, programmatic capability and non-automotive diversification.

Asia

• We expect good growth in revenue and solid growth in EBITDA.

Investments

• We expect solid growth in revenue and similar EBITDA versus FY24.

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All financial references are on a constant currency basis. Refer to footnote 1 and 2 on slide 5 for proforma and adjusted financial definitions.

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2. Financial Performance

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Track Record of Growth

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Proforma
Revenue [1]
14% CAGR
($AUDm)
1,099
957
833
707
648
FY20 FY21 FY22 FY23 FY24
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Adjusted
NPAT
26% CAGR
($AUDm)
344
278
195
153
138
FY20 FY21 FY22 FY23 FY24
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Proforma
EBITDA [1]
15% CAGR
($AUDm)
581
499
431
390
334
FY20 FY21 FY22 FY23 FY24
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Adjusted
EPS [2]
14% CAGR
(cents)
91.3
78.1
66.5
58.4
53.6
FY20 FY21 FY22 FY23 FY24
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Refer to footnote 1 and 2 on slide 5 for proforma and adjusted financial definitions. (1) Revenue and EBITDA are presented on a constant currency basis. (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, where applicable.

P&L Summary

$AUDm		FY23	FY24	Growth %	• Excellent underlying revenue and EBITDA growth enhanced by
Revenue		781	1,099	41%	the full year consolidation of Trader Interactive and webmotors in FY24.
Operating expense		(356)	(518)	(45%)
1 Adjusted EBITDA Depreciation & amortisation		425 51	581 71	37% 40%	• D&A reflects depreciation of building fit-outs and software assets. Large increase due to the consolidation of Trader Interactive and webmotors.
Net finance cost		49	72	47%
Income tax expense		62	81	31%	• Increased net finance cost reflects higher interest rates.
Profit from associates		17	(0)	(100%)	• The movement in profits from associates and non-controlling
1 Non-controlling interests (NCI) Adjusted NPAT		(3) 278	(13) 344	(387%) 24%	interests reflects the transition of Trader Interactive and webmotors from minority to majority equity ownership positions.
Significant items Reported NPAT	2	367 646	(94) 250	n.m. (61%)	• Final dividend of 38.5 cents per share declared, up 18% on pcp. Dividend will be franked at 50%.
Adjusted earningsper share (cents)1 Final dividend per share (cents)		78.1 32.5	91.3 38.5	17% 18%	• The decrease in Reported NPAT is largely due to the one-off gains of $487m recognised in FY23 on moving to majority ownership of Trader Interactive and webmotors.

• The decrease in Reported NPAT is largely due to the one-off gains of $487m recognised in FY23 on moving to majority ownership of Trader Interactive and webmotors.

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13

Refer to footnote 1 on slide 5 for adjusted financial definitions. n.m. = not meaningful

Segment Performance

Double-digit revenue and earnings growth in all key segments

Proforma

$AUDm	FY23	FY24	Growth %	CC %1
Australia North America 2	399 239	450 277	13% 16%	13% 13%
Latin America Asia	139 104	182 121	31% 17%	25% 15%
Investments	61	68	12%	12%
Revenue	942	1,099	17%	15%
Australia 2	259	292	13%	13%
North America	140	166	18%	15%
Latin America	48	66	39%	34%
Asia	53	59	13%	11%
Investments	(3)	(3)	3%	3%
EBITDA	496	581	17%	16%

• Australia – Core Australian marketplace delivered excellent revenue and earnings growth through continued enhancement of our customer value proposition. Double-digit revenue growth across the three key segments of Dealer, Private and Media.

• North America – Excellent growth supported by new customer acquisition, increased adoption of depth products, dynamic pricing, and new media technology.

• Latin America – Outstanding webmotors growth delivered via national expansion, new products and media technology and an uplift in finance transactions.

• Asia – Excellent double-digit growth underpinned by opening new Guarantee Inspection sites and better branch utilisation. Encar Home also continues to scale.

• Investments – Good growth in tyres and inspection revenue.

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Refer to footnote 1 on slide 5 for proforma 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
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• 99% EBITDA to cash conversion reflects the attractive working capital profile of marketplace business models and good cash collections.

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Leverage [2] , net debt
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• Further reduction in leverage ratio on a proforma[2] basis, remains prudent at 1.7x.

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Capex
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• Capex investment continues to support growth. Key investments include digitising services, tradein, dynamic pricing, media products, site simplification, marine, C2C payments and leasehold improvements in South Korea branches.

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EBITDA to Cash flow Net debt Capex
Cash flow $AUDm [1] Net debt $AUDm Proforma Capex $AUDm [3]
Reported EBITDA to cash conversion Leverage ratio Capex as % of proforma revenue
561 1,800 2.50 110 30%
1,600 2.50
100
1.96 25%
395 1,400 1.81 1.70 2.00 90 102
1,200 20%
80 88
266 1,000 1.50
800 1,044 973 978 988 70 15%
9% 9%
600 1.00 60 10%
400 50
99% 99% 99% 200 0.50 40 5%
- - 30 0%
FY22 FY23 FY24 Dec-22 Jun-23 Dec-23 Jun-24 FY23 FY24
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Refer to footnote 1 on slide 5 for proforma financial definitions. (1) Operating cash flow excluding tax. (2) Jun-24 leverage ratio has been calculated on the basis of net debt / proforma EBITDA FY24. 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 FY23 and FY24. Calculated on a constant currency basis.

15

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3. Operating Segments

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Australia

$AUDm vs pcp%

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Excellent operational execution in all segments supported by a robust used car market

Revenue 450m 13%

Adjusted EBITDA 292m 13%

Revenue Breakdown

Dealer 228m 12% Private 99m 10% Media 73m 20% Data, Research & Services 50m 10%

• Increase in Dealer revenue driven by lead volumes, yield and expanded depth penetration. Depth benefitted from strong product value and an increase in inventory and time to sell.

• Private revenue uplift underpinned by increased market share, dynamic pricing optimisation and increased uptake of Instant Offer.

• Growth in Media revenue driven by continued product and advertiser diversification and a competitive new car market.

• Data, Research & Services result reflects good performance from Redbook which provides industry leading data services.

• EBITDA margin has increased slightly reflecting the inherent operating leverage amidst ongoing investment for future growth.

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Refer to footnote 2 on slide 5 for adjusted financial definition.

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North America

$AUDm

vs pcp%

Proforma Revenue 277m

277m 16% Proforma EBITDA 166m 18%

$USDm vs pcp%

Proforma Revenue 182m

13%

Proforma EBITDA 108m 15%

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Business model strength in more challenging market conditions

• Delivered double-digit revenue growth. This was an excellent outcome given more challenging macro conditions, particularly in the recreational verticals.

• Strong dealer value proposition demonstrated by increases in dealer numbers and average yield per dealer. Increase in yield through increased premium select penetration, package upsells and price increases.

• Net increase of 100 dealer customers over the past year.

• Revenue diversification through improved contribution from private and media segments.

• Private result supported by dynamic pricing and improved marketing

• Media segment grew strongly, driven by adopting CAR Group’s programmatic advertising technology and increasing the sophistication and size of the direct sales team.

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Refer to footnote 1 on slide 5 for proforma financial definition.

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Latin America

$AUDm vs pcp% CC %

Proforma Revenue 182m 31% 25% Proforma EBITDA 66m 39% 34%

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Strong operational execution delivers excellent financial performance

• Excellent progress made across all strategic initiatives in first full year of webmotors majority ownership.

• Delivered higher average revenue per dealer through higher depth and CRM product penetration, price increases and new product launches including inspections and Vision 360.

• National expansion plan is driving strong growth in revenue with an increase in market share in key markets outside Sao Paulo and Rio (Curitiba, Goiana Salvador, Belo Horizonte and Brasilia).

• Ongoing revenue diversification with significant increase in revenue through the implementation of the private dynamic pricing engine and investment in media operations.

• 35% increase in finance contracts written in the second half, driven by improved credit availability and a streamlined auto loan application process with Santander.

• Delivered substantial EBITDA margin growth alongside reinvestment into future growth initiatives.

• Strong growth in subsidiaries Car10 and Loop.

• Excellent revenue growth in Chile through the implementation of the lead model.

Refer to footnote 1 on slide 5 for proforma financial definition.

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Asia

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Increasing adoption of premium and digital retailing products

$AUDm vs pcp% CC % Revenue 121m 17% 15% Adjusted EBITDA 59m 13% 11%

• Excellent growth in revenue and EBITDA driven by increasing premium product penetration, yield increases and continued increase in Home delivery transactions.

• Guarantee inspections reached a significant milestone of over 50% of all new listings. This increase was driven by:

• Opening of 8 new inspection centres with 59 now operational across South Korea;

• Extended operating hours in certain inspection centres;

• Establishment of new dealer contracts at existing inspection centres; and

• Expansion of minimum volume commitments from existing dealers.

• Growth further supported by a 10% price rise on standard ads that was introduced at the end of H1 FY24.

• Encar Home delivery transaction volumes were up 24% vs pcp driven by more available inventory and an improved transaction process.

• Dealer Direct continues to improve after being impacted by difficult credit market conditions.

Refer to footnote 2 on slide 5 for adjusted financial definition.

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4. Strategy Update

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Our Global Priorities

We have a clear set of priorities across our global marketplaces

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1. Market 2. Digitising
3. Depth
Leadership Services
Expand the Remove friction Deliver value for
leadership positions points in the vehicle
sellers through new
of our online buying and selling
premium depth
marketplaces process
products
5. Media 6. Future
4. Private
Expansion Horizons
Connect
Create a seamless Leverage insights
advertisers to our
experience for and trends to explore
audience through
private buyers and new opportunities in
the most
sellers core and adjacent
sophisticated data
markets
products
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Further details in the following pages

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Depth

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Deliver value for sellers through new premium depth products

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Wallet attracts incremental spend

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Guarantee evolution

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In-depth inspection Report
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Premium Select Reporting Module

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• Santander loyalty program launched H2 FY24

• Participating dealers can redeem webmotors products through credits granted by Santander via cockpit

• 10% Guarantee Inspection price rise to be implemented gradually from 1 August 2024

• Regional expansion progressing

• Extending opening hours

• Detailed depth ROI reporting

• Enabling dealers to measure the benefits of their promoted inventory

• Reducing dealer churn

• Attracting incremental spend

• Introducing new Guarantee Inspection products

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Private Seller Experience

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Create a seamless experience for private buyers and sellers

Through continual innovation private yield has increased at 11% CAGR FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24

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Expanding our service offering and enhancing trust and safety

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Lower Car value Higher
Broadening the eligibility criteria of vehicles that can utilise
our Instant Offer service
AI photo Verified In-app Test drive Payment
assist Seller messaging bookings facilitation
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The listing fee is still only a small amount of the car’s value

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$160+ ÷ $35k = 0.5%
Average ad Average Take rate
fee [1] car price [2]
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Exporting carsales’ products and reducing the number of private ad placement steps

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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15+
Start Checkout
1 2 3
Start Checkout
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Reduced ad placement steps from 15+ to 3, increasing ad conversion and user satisfaction

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(1) Average private ad fee per vehicle listed as at 30 June 2024. (2) Average car price listed on carsales.com.au at 30 June 2024.

Media Expansion

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Connect advertisers to our audience through the most sophisticated data products

Total addressable markets for advertising are significant

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Estimated progress
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$0.8 billion $4.8 billion $1.5 billion $70 million
Grow Direct Diversify Customer Expand Media Explore Key
Sales Team Base Product Set Technologies for Local Markets
Homepage Buyout
Auto/Non-Auto
Partnerships Creative Programmatic Ad Technology
Travel & Tourism
Native Ads Native Video Customer Data Platform (CDP)
Accessories & Finance &
Branded Content Self-Serve Platform
Apparel Insurance
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Bars represent estimated progress made.

Future Horizons

Leverage insights and trends to explore new ideas and opportunities

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C2C payments

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Seller

Payment preference

Select "pay with carsales" when making a private listing

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Seller

Enter account

Verify identity documents and bank details

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Buyer

Buyer

Offer and pay

Add funds

Create an offer to buy for the seller to approve

Add funds into carsales account

Enhance Security, Trust & Safety

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Buyer

Release payment

Instantly release payment to seller

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Sustainability – FY24 highlights

Our mission is to operate a sustainable business that future generations will be proud of

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Our People

Our Customers

Our Impact

Our Business Practices

Great Place to Work certification achieved for Australia, Brazil, the US and Chile

86% of our team recommend CAR Group as a great place to work

44% female representation on CAR Group’s Board of Directors and 42% female representation in senior roles

Zero reportable data breaches

• 99.9% system reliability for customers

• 48m average monthly

• unique audience across our websites

• 2.6m vehicles online globally

• 15.2% reduction in total emissions for global business operations compared to FY23

Carbon neutrality achieved across CAR Group globally

Transitioned to 100% GreenPower across six of our Australian offices and commercial sites

Artificial Intelligence Governance Committee Established

Introduced CAR Group Anti-Bribery and Corruption policy and mandatory training

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Driving Long Term Shareholder Value

CAR Group has multiple growth opportunities across large addressable markets

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Clear leadership Digitising positions in each vehicle of our markets transactions

There is strong demand for frictionless buying and selling experiences creating significant opportunities for digital incumbents

Our leadership positions generate strong network effects, further building competitive advantage and delivering long term growth

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Underpenetrated international markets

Digital advertising spend is lower in our

international markets with significant runway to grow through increasing take-rates

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Transferrable, scaled IP and technology

• Our global technology platform and IP can facilitate rapid

• deployment of strategic products in all markets

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Strong cash flows with robust balance sheet

• High margin business model that generates

• strong free cash flows.

• This supports investment in new growth initiatives and provides for good dividends

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Disclaimer and Non-IFRS Information

Disclaimer

The material in this presentation has been prepared by CAR Group Limited (ASX: CAR) ABN 91 074 444 018 (“CAR Group") and is general background information about CAR Group’s 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 CAR Group’s 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

CAR Group results are reported under International Financial Reporting Standards (IFRS). This presentation also includes certain non-IFRS measures including “adjusted”, “underlying” and “proforma”. 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. Refer to slide 43 of the CAR Group FY24 Results presentation, released 12 August 2024, for a breakdown of significant items.

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