Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-12297 Penske Automotive Group, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of i ...

Financial Data and Key Metrics Changes - Revenue for Q2 2022 was $6.9 billion, a decline of 1% year-over-year, impacted by foreign exchange losses of $245 million; excluding FX, revenue increased by 2% [8] - Earnings before taxes increased by 8% to $500 million, net income from continuing operations rose by 10% to $374 million, and earnings per share increased by 17% to $4.93; excluding FX, EBT was up 10% to $511 million [9] Business Line Data and Key Metrics Changes - Retail automotive operations saw a 17% decline in total unit sales due to supply constraints; automotive revenue declined by 8%, but gross profit only decreased by 3% [10] - CarShop unit sales increased by 7% to 20,000 units, with revenue rising by 15% to $468 million; however, same-store variable gross profit per unit retail decreased to $2,145 from $2,714 year-over-year [11] - The retail commercial truck dealership business experienced a 23% increase in revenue to $769 million, with unit sales rising to 4,174 units [13] Market Data and Key Metrics Changes - Penske Transportation Solutions (PTS) reported a 20% increase in revenue to $3.3 billion, with profit rising by 33% to $472 million; equity earnings increased by $34 million to $137 million year-to-date [15] - New vehicle supply in the US is at 12 days, while used vehicle inventory has a 42-day supply [22][23] Company Strategy and Development Direction - The company is focused on sustainability initiatives, including electrification and the installation of over 1,300 charging stations across its network [27][28] - The company has completed acquisitions and new open points representing $745 million in annual revenue, with plans to acquire five Mercedes-Benz dealerships in the UK expected to generate approximately $550 million in revenue for 2022 [25][26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong demand for vehicles despite supply constraints and expects current supply challenges to persist for the next nine to twelve months [23] - The company aims to maintain a disciplined capital allocation strategy, focusing on opportunistic acquisitions, investments, and shareholder returns [19][20] Other Important Information - The company returned $437 million to shareholders in 2022, representing 59% of net income, and increased its quarterly dividend by 15% [18] - Long-term debt remains below $1.5 billion, with a leverage ratio of 0.7x, providing flexibility for future acquisitions [21] Q&A Session Summary Question: Concerns about SG&A costs as volumes recover - Management indicated that SG&A costs have decreased from 78% of gross pre-COVID to 66% currently, with expectations to stabilize in the low 70s as business normalizes [38][39] Question: Opportunities for leveraging capital for buybacks or acquisitions - Management emphasized a cautious approach to leverage, preferring to maintain flexibility while considering both buybacks and acquisitions [46][54] Question: Trends in PTL and gain on sale impact - The gain on sale in Q2 was $140 million, up $95 million year-over-year, with PAG's share being $27 million [63] Question: Impact of electric vehicles on dealership operations - Management acknowledged the need for training and facility changes to accommodate electric vehicles, which will require more educational support for customers [65] Question: Visibility into inventory and demand for the back half of the year - Management reported strong forward sold orders in both the US and UK, with a positive outlook for demand in the commercial truck sector [72][74] Question: Affordability issues impacting CarShop customers - Management confirmed that affordability issues are more pronounced for CarShop customers compared to franchise-level customers, affecting margins [84] Question: SG&A cost reduction without headcount reduction - Management indicated that there are still opportunities to reduce costs through technology and improved efficiency, despite rising costs in other areas [89][90]

PENSKE Automotive Second Quarter 2022 Financial Results SYTNER On-Highway Power Systems Mining Defense DISCLAIMER Statements in this press release may involve forward-looking statements, including forwardlooking statements regarding Penske Automotive Group, Inc.'s financial performance, acquisitions, and growth plans. Actual results may vary materially because of risks and uncertainties that are difficult to predict. These risks and uncertainties include, among others, the company's ability to successfully ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-12297 Penske Automotive Group, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of ...

Penske Automotive Group, Inc. (NYSE:PAG) Q1 2022 Results Conference Call April 27, 2022 2:00 PM ET Company Participants Anthony Pordon - EVP, Investor Relations and Corporate Development Roger Penske - Chair & CEO Shelley Hulgrave - CFO Tony Facione - Vice President and Corporate Controller Conference Call Participants John Murphy - Bank of America Stephanie Moore - Truist Securities Mike Ward - Benchmark Company Daniel Imbro - Stephens Inc Rajat Gupta - JPMorgan David Whiston - Morningstar Operator Good af ...

First Quarter 2022 Financial Results DISCLAIMER Statements in this press release may involve forward-looking statements, including forwardlooking statements regarding Penske Automotive Group, Inc.'s financial performance, acquisitions, and growth plans. Actual results may vary materially because of risks and uncertainties that are difficult to predict. These risks and uncertainties include, among others, the duration, severity, and resolution of the COVID-19 pandemic, government mandated restrictions on our ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-12297 Penske Automotive Group, Inc. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of ...

Penske Automotive Group, Inc. (NYSE:PAG) Q4 2021 Earnings Conference Call February 9, 2022 2:00 PM ET Company Participants Anthony Pordon - EVP, Investor Relations and Corporate Development Shelley Hulgrave - CFO Roger Penske - Chair of the Board & CEO Tony Facione - Vice President and Corporate Controller Conference Call Participants Rick Nelson - Stephens John Murphy - Bank of America Merrill Lynch Michael Ward - Benchmark Company Stephanie Moore - Truist Rajat Gupta - JPMorgan David Whiston - Morningstar ...

Fourth Quarter 2021 Financial Results DISCLAIMER Q3 2021 2 Statements in this presentation may involve forward-looking statements, including forward-looking statements regarding Penske Automotive Group, Inc.'s liquidity, assessment of business conditions, expected future operating results and growth plans. Statements in this press release may involve forward-looking statements, including forward-looking statements regarding Penske Automotive Group, Inc.'s financial performance and growth plans. Actual resul ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Table of Contents For the quarterly period ended September 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-12297 Penske Automotive Group, Inc. (Exact name of registrant as specified in its charter) Delaware 22-3086739 (State o ...