Southampton Optimizing the operational footprint and managing fixed cost base; focus on the UK opportunity Rightsizing operational footprint to enable efficient reconditioning and logistics | --- | --- | --- | --- | |---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------|------------|------------------------------------------------ ...

Financial Data and Key Metrics Changes - The company reiterated its guidance for 2023, forecasting retail unit sales of 40,000 to 50,000 units and an EBITDA loss of between £100 million and £120 million [2][4] - In 2022, total revenue grew approximately 91% to a record £1.25 billion, with retail units sold increasing by 88% to over 65,000 [16][36] - Retail gross profit per unit (GPU) for 2022 was £403, down from £427 in 2021, but expected to approach £1,200 for 2023 [36][45] Business Line Data and Key Metrics Changes - The retail GPU improved significantly, reaching £596 in Q4 2022, a 156% increase year-on-year, with expectations to reach around £1,500 by the end of 2023 [25][37] - The company achieved a finance attachment rate of over 50% in Q4 2022, indicating strong consumer engagement with financing options [25][38] Market Data and Key Metrics Changes - The U.K. used car market is valued at approximately £100 billion annually, with around 7 million transactions per year, presenting a significant opportunity for the company [14][35] - The company has exited the Mainland European market, focusing solely on the U.K. market, which is the largest used car market in Europe [19][63] Company Strategy and Development Direction - The company is shifting its focus from rapid growth to improving unit economics, optimizing fixed costs, and extending cash runway [18][80] - Key priorities for 2023 include enhancing unit economics, reducing fixed costs, and maximizing cash runway, with a goal of increasing market share from 1% to 5% over time [35][80] Management's Comments on Operating Environment and Future Outlook - Management noted that consumer demand remains strong despite economic challenges, with a positive outlook on financing rates [76] - The company is optimistic about achieving profitability through improved unit economics and operational efficiencies [71][80] Other Important Information - The company has reduced its headcount by about half as part of its restructuring efforts, which is expected to yield significant cost savings [44][52] - The company ended 2022 with cash and cash equivalents of £258 million and self-funded inventory of approximately £75 million [51] Q&A Session Summary Question: What is the plan beyond 2023 regarding growth and investment? - The company expects to return to growth in 2024, with the capacity to scale back up to 2022 volume levels with existing facilities [82] Question: How is the market backdrop affecting supply and demand? - The market remains challenging due to supply chain issues, but there is a slight improvement [84] Question: What is the expected cash burn rate throughout the year? - The exit rate for cash burn is expected to be around £30 million per quarter by the end of 2023, with plans to reduce it further [85][87]

Strategy and Market Focus - The company has shifted its strategy from maximizing market share in the UK and mainland Europe to focusing solely on the UK market and improving unit economics, which may pose implementation challenges[40][45] - The Revised 2023 Plan aims to improve unit economics by reducing employee headcount, lowering marketing spend, rationalizing vehicle preparation and customer support sites, and increasing retail gross profit per unit (GPU)[48] - Revised 2023 Plan includes reducing vehicle preparation centers, potentially decreasing reconditioning capacity and impacting gross profit per unit[104] - Revised 2023 Plan reduces vehicle preparation centers to 4 and customer centers to 7 in the UK as of March 20, 2023[118][129] Financial Performance and Profitability - The company has a history of losses, with an accumulated loss of approximately £1,279 million as of December 31, 2022, and may not achieve profitability in the future[49][51] - The company's ability to improve unit economics depends on factors such as acquiring suitable inventory, improving logistics efficiency, and attracting customers to its website[55] - The company's Revised Business Plans are based on current estimates and assumptions, which are subject to risks and uncertainties, and may not fully realize the anticipated cost savings and benefits[47] - The company's 2023 budget aims to reduce cash consumption and achieve profitability without external funding until H2 2024, including closures of vehicle preparation centers and headcount reductions[58] - The company's ability to continue as a going concern is under substantial doubt due to potential insufficient cash and liquid assets to cover operating and capital requirements through April 30, 2024[56] Capital and Liquidity - The company may require additional outside capital in the next 12 months, but as of now, there are no firm commitments for such capital[52] - As of December 31, 2022, the company had cash and cash equivalents of £258.3 million, which is expected to meet liquidity requirements for at least the next twelve months[57] - The company plans to increase liquidity through actions such as sale and leaseback of owned property and unwinding the UK subscriptions business[59] - The company's future debt may contain restrictive covenants, limiting its ability to obtain additional capital and pursue business opportunities[62] - The company's ability to repurchase Convertible Notes or repay principal at maturity may be limited by law, regulatory authority, or future indebtedness agreements[70] Debt and Financing - As of December 31, 2022, the company had indebtedness outstanding of £531 million, including £162 million in stocking loans and £349 million in Convertible Notes[67] - The company's interest expense from indebtedness was £53 million for the year ended December 31, 2022[67] - The company may face challenges in refinancing existing debt or securing new debt due to rising interest rates and market conditions[64] - The company is proactively managing its car financing facilities, which totaled £240 million as of December 31, 2022, to reflect lower unit volume expectations for 2023[63] Inventory and Supply Chain - The company's business is sensitive to changes in the prices of new and used vehicles, and obstacles in acquiring suitable inventory could have a material adverse effect on its operations[42] - Vehicle inventory accounted for £233 million, or approximately 27% of the company's total assets as of December 31, 2022, with excess inventory potentially leading to downward pressure on sales prices and margins[103] - The company's ability to recondition and sell inventory expeditiously is critical, as delays could lead to depreciation and reduced gross profit per unit[103] - Customer demand exceeding capacity to purchase and recondition used vehicle inventory could lead to lower inventory levels and conversion rates[104] - The value of the company's overall inventory as of December 31, 2022, amounted to £233 million[131] - The company faces risks of uninsured damages due to force majeure events such as flooding, fires, or hail affecting its inventory[132] - Seasonal fluctuations in used vehicle prices may result in higher gross profit per unit in the first half of the year compared to the second half[140] Marketing and Customer Acquisition - The company recorded marketing expenses of £63 million in 2022 but has reduced and intends to continue reducing certain types of marketing, which may affect its ability to sustain brand visibility[93] - The company's ability to attract users to its website in a cost-effective manner is crucial, and a failure to do so could negatively impact its business[85] - The company's reliance on search engines and vehicle listings sites to drive traffic to its website is not entirely within its control, and changes in search engine algorithms could adversely affect its operating results[95] - The company's brand reputation is vital for attracting users and increasing engagement, and any damage to this reputation could adversely affect consumer demand and results of operations[91] - Social networks are a critical source of new clients and engagement, with potential risks including reduced brand affinity and increased marketing costs if unpaid tools become ineffective[159] Operational Risks - The company has identified material weaknesses in its internal control over financial reporting (ICFR) for the fiscal years ended December 31, 2022 and 2021, which could adversely affect its ability to report financial results accurately and timely[44] - The company's operations may be adversely affected by legal, regulatory, and other developments, including non-compliance with financial regulations[44] - Disruption to customer or vehicle preparation centers could significantly impact vehicle reconditioning, order fulfillment, and customer satisfaction[119] - Reliance on third-party suppliers for outsourced services and value-added products introduces risks of service interruptions and quality issues[121][123] - Transportation costs and logistics risks, including rising carrier prices and vehicular crashes, could disrupt inventory supply chain and distribution[128] - Manufacturer recalls and financial issues could adversely affect vehicle supply, sales, and valuations, potentially increasing costs and litigation risks[130] - The company is exposed to cyber-attacks, which could result in significant financial losses, reputational harm, and regulatory fines[151] - The company's website and IT systems are critical to its operations, and any disruptions could harm its reputation and result in lost sales[154] - The company relies on third-party web-hosting providers, and any service interruptions or financial difficulties faced by these providers could negatively impact its business[155] - Email and messaging service malfunctions could lead to customer dissatisfaction and regulatory issues, impacting the company's operations[160] - Online payment methods expose the company to risks such as increased fees, fraud, and compliance costs, which could affect financial performance[162] - Fraudulent credit card transactions could result in significant financial losses, with the company potentially liable for such transactions[163] - Noncompliance with global payment regulations could lead to reputational damage, litigation, and increased operational costs[164] - Data protection failures, including breaches of UK GDPR, could result in fines of up to 4% of annual global turnover and reputational harm[165] - Third-party service providers' failure to comply with data protection obligations could compromise customer data and lead to financial penalties[166] - Intellectual property risks include potential infringement claims, costly litigation, and the need to develop alternative technologies[174] Economic and Market Conditions - Global inflation and geopolitical conflicts have exacerbated inflationary pressures, leading to increased costs for labor, fuel, materials, and services, which could negatively impact the company's revenues and gross profit per unit[79] - Economic slowdowns, particularly in the UK, may reduce consumer purchases of vehicles, negatively affecting the company's profitability and putting downward pressure on product and service prices and volumes[80] - The company's geographic concentration in the UK exposes it to risks related to regional economic downturns, severe weather, and Brexit-related uncertainties, which could adversely affect its financial condition and results of operations[83] - Rising interest rates could make vehicles less affordable, steering customers to less profitable options and adversely affecting financial condition[106] - Significant changes in retail prices for new or used vehicles could materially impact revenues and results of operations[107] - Decline in used vehicle prices could reduce inventory acquisition costs but may also lead to asset impairments and lower gross profit[108] - Foreign exchange fluctuations, particularly between GBP and USD, could lead to volatility in operating results and increased interest expenses[179] Regulatory and Compliance - The company is subject to UK corporation tax, and changes in tax laws or regulations could materially impact its cash flows and financial condition[206] - Legal disputes in the UK or other jurisdictions could result in costly litigation, diverting financial and management resources and potentially harming the company's reputation[207] - Non-compliance with financial regulations could result in penalties, loss of licenses, or cease-and-desist orders, impacting business operations[192] - UK Government's plan to ban new petrol and diesel car sales by 2030 may reduce inventory availability and increase costs[196] - Increased public and shareholder attention to ESG matters may expose the company to negative perception and additional costs[198] - The company's insurance may not provide adequate coverage against claims, potentially requiring the company to pay significant liabilities from its own funds[208] - The inability to obtain affordable inventory insurance could force the company to self-insure, reducing its ability to invest in the business and exposing it to financial risk[209] Shareholder and Equity Risks - The company's Class A Shares are at risk of delisting from the NYSE if the average global market capitalization falls below $50 million over 30 trading days[216] - The company's Warrants were delisted from the NYSE and are now traded over the counter, which may limit liquidity and investor ability to transact in these securities[217] - The company issued $630 million in Convertible Notes, which may be converted into Class A Shares, potentially diluting existing shareholders and increasing the number of shares available for resale[223] - Outstanding Warrants for 2,062,728 Class A Shares may be exercised, leading to dilution of existing shareholders and increased shares available for resale[224] - Future issuances of Class A Shares or equity-linked securities could dilute existing shareholders and negatively impact the market price of the company's shares[226] - Fluctuations in operating results, negative media coverage, and external economic factors could lead to significant volatility in the company's share price[227] - The company does not currently intend to pay dividends on its Class A Shares, and shareholders' return on investment will depend on the appreciation of the share price[230] - Alex Chesterman owns approximately 24.3% of the issued and outstanding Class A Shares, giving him significant influence over shareholder decisions and potential delays in changes of control[231] - The company's securities may experience significant price fluctuations due to factors such as performance, large share transactions, legislative changes, and economic conditions[228] - Existing shareholders' proportionate ownership interest may decrease, potentially reducing cash available per share and diminishing voting power[229] - The company is incorporated under Cayman Islands law, which may limit shareholders' ability to enforce rights through U.S. Federal courts[232] - Cayman Islands corporate law differs from U.S. law, particularly in shareholder rights and fiduciary responsibilities of directors[233] Internal Controls and Financial Reporting - Identified material weaknesses in internal control over financial reporting (ICFR) for fiscal years 2021 and 2022, potentially leading to material misstatements in financial statements[182] - Deficiencies in entity-level and financial reporting control environment, including ineffective management review controls and IT general controls (ITGCs)[182] - Insufficient accounting and finance personnel with IFRS technical accounting knowledge for non-routine and complex transactions[182] - Implemented a governance, risk management, and compliance (GRC) tool to manage financial reporting controls in 2022[185] - Engaged consultants and hired personnel with expertise in finance and IFRS accounting to address control weaknesses[185] - Remediation plan may require substantial time and resources, with no assurance of timely completion or avoidance of future material weaknesses[186] - Potential decline in market price of securities and loss of investor confidence if material weaknesses are not addressed[187] Customer Service and Warranty - The return rate for cars sold under the 7-day return policy in 2022 was 6.7%[138] - The company provides a free 90-day warranty and offers extended warranty, insurance, and service plans, which may lead to increased costs if provisions are set too low[145] Technology and Digital Infrastructure - In 2022, approximately 80% of unique visitors to the company's website were attributable to mobile devices, highlighting the importance of mobile functionality for future success[85] - The company uses email and messaging services for marketing, and restrictions on these communications could materially affect its revenues[157]

Cazoo Group Ltd (NYSE:CZOO) Q3 2022 Results Conference Call October 27, 2022 8:00 AM ET Company Participants Robert Berg - Director of IR and Corporate Finance Alex Chesterman - Founder, Chairman and CEO Stephen Morana - CFO and Director Conference Call Participants Rajat Gupta - JPMorgan Adam Berlin - UBS Sam Saeed - Berenberg Catherine OÂ'Neill - Citi Operator Greetings, everyone. Welcome to Cazoo's Third Quarter Fiscal Year 2022 Earnings Call. At this time, all participants are in a listen-only mode. A q ...

Exhibit 99.1 Cazoo Announces Third Quarter 2022 Financial Results UK revenues and retail unit sales up 100% YoY with significant further progress on UK Retail GPU ● Record UK revenues of £347m in Q3, up 103% YoY driven by very strong UK retail sales growth ● Record UK Retail unit sales at 18,889, up 100% YoY as the consumer shift to online accelerates ● UK Retail GPU of £488, up by a further £179 versus Q2, with efficiencies made across the board ● EU strategic review complete with withdrawal underway and e ...

Exhibit 99.1 CAZOO GROUP LTD UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED JUNE 30, 2022 UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME For the six months ended June 30, 2022 | --- | --- | --- | --- | --- | |-----------------------------------------------------------------------|-------|-----------------------------------------|-------|-----------------------------------------| | Continuing operations | Notes | Six months ...

Financial Data and Key Metrics Changes - In Q2 2022, the company achieved record revenues of £333 million, up 145% year-on-year, driven primarily by UK retail revenues which increased over 140% year-on-year [12][22] - The company sold 23,955 cars in Q2, representing a 124% year-on-year growth, including 17,033 retail units, which grew by 94% year-on-year [23] - The UK retail gross profit per unit (GPU) increased by 150% from £124 in Q1 to £309 in Q2 [24] Business Line Data and Key Metrics Changes - The company has sold over 80,000 cars since its launch, with over 30,000 sold in the first half of 2022, making it one of the largest used car retailers in the UK [10] - Retail unit sales in Q2 were over 17,000, contributing to significant market share growth despite a challenging macroeconomic environment [12][23] - The company has increased its UK website inventory to over 7,500 cars, reflecting improvements in reconditioning capabilities [13] Market Data and Key Metrics Changes - The UK used car market consists of around eight million transactions annually, valued at over £100 billion, with digital penetration remaining low [19] - The company aims to capture a market share of 5% or greater, which could generate gross profit of close to £0.5 billion annually at a medium-term GPU target of £2,000 [20] Company Strategy and Development Direction - The company is focused on cash preservation and reducing the need for external funding while driving towards profitability [7][31] - A full strategic review of the business in Mainland Europe is underway to further reduce cash burn and ensure a path to cash flow breakeven without additional capital [8][28] - The company has implemented a business realignment plan aimed at sustainable gross margins and reduced SG&A costs while still expecting over 100% year-on-year growth in 2022 [16] Management Comments on Operating Environment and Future Outlook - Management acknowledges the deteriorating consumer confidence and potential recession but remains optimistic about maintaining strong momentum into Q3 [15][31] - The company is confident in its ability to capture significant market opportunities and has laid the groundwork for continued growth [32] - Management emphasizes the importance of reaching cash flow breakeven and reducing reliance on external funding [17][31] Other Important Information - The company has cash reserves of over £400 million and self-financed inventory of over £175 million as of the end of June [29] - A new Chief Financial Officer, Paul Woolf, has been appointed to succeed Stephen Morana later this year [30] Q&A Session Summary Question: What prompted the strategic review options for Europe? - Management indicated that the review aims to ensure a plan that does not involve further capital raising, with options ranging from business as usual to potential withdrawal from some markets [35][37] Question: How do you see the competitive backdrop in the UK? - The competitive landscape remains stable, with the company confident in its ability to grow market share as digital services become more prevalent [48][50] Question: What are the main areas of cost inflation in 1H? - Cost inflation has been observed across labor and materials, impacting GPU growth, but management expects to manage these costs effectively moving forward [61] Question: Can you provide UK retail GPU for July? - Management refrained from sharing specific figures for July but reaffirmed guidance of £500 to £600 for the year, expecting continued positive GPU trajectory [63]

Search. Drive. Smile. Investor Presentation August 2022 1 Disclaimer 2 Forward-Looking Statements The statements contained or referred to in this Presentation may include "forward-looking statements" within the meaning of the "safe harbour" provisions of the Private Securities Litigation Reform Act of 1995. . The expectations, estimates, and projections of the business of Cazoo may differ from its actual results and, consequently, you should not rely on forward-looking statements as predictions of future ev ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ...

Cazoo Group Ltd (NYSE:CZOO) Q1 2022 Earnings Conference Call May 3, 2022 8:00 AM ET Company Participants Alex Chesterman – Founder, Chief Executive Officer Stephen Morana – Chief Financial Officer Robert Berg – Director of Investor Relations and Corporate Finance Conference Call Participants Rajat Gupta – JPMorgan Adam Berlin – UBS Saim Saeed – Berenberg Operator Greetings and welcome to the Cazoo First Quarter 2022 Earnings call. At this time, all participants are in a listen-only mode. A question-and-answ ...