PENSKE AUTOMOTIVE GROUP EXPANDS PRESENCE IN SOUTHERN CALIFORNIA

PENSKE AUTOMOTIVE GROUP EXPANDS PRESENCE IN SOUTHERN CALIFORNIA

Acquires BMW/MINI of Escondido and a Collision Center BLOOMFIELD HILLS, Mich., April 12, 2022 /PRNewswire/

Acquires BMW/MINI of Escondido and a Collision Center

BLOOMFIELD HILLS, Mich., April 12, 2022 /PRNewswire/ — Penske Automotive Team, Inc. (NYSE: PAG), a diversified worldwide transportation products and services business and one particular of the world’s premier automotive and industrial truck shops, today announced that it has obtained BMW/MINI of Escondido, along with a collision middle, found in Escondido, California. The acquired dealership and collision centre are positioned in the Escondido Automobile Shopping mall, where by the organization at present operates dealerships featuring the Acura, Audi, Honda, and Mazda makes. The acquisition is expected to generate annualized revenue of around $115 million.

Commenting on the acquisition, Chair and CEO Roger Penske, reported, “We are thrilled to have done the acquisition of the properly-respected BMW/MINI manufacturers in Escondido. The acquisition strengthens the scale of our offerings in the Escondido Auto Shopping mall and provides additional depth to our romantic relationship with the BMW and MINI models. I would like to welcome the 72 BMW/MINI of Escondido staff, such as 22 professionals, to the Penske Automotive Team group.”

Calendar year-to-day 2022, Penske Automotive Team has added roughly $665 million in annualized income by means of acquisitions and an open level.

About Penske Automotive

Penske Automotive Team, Inc., (NYSE: PAG) headquartered in Bloomfield Hills, Michigan, is a diversified worldwide transportation products and services company and one of the world’s leading automotive and commercial truck vendors. PAG operates dealerships principally in the United States, the United Kingdom, Germany, Italy, and Japan and is the biggest retailer of industrial vehicles in North The us for Freightliner. PAG also distributes and retails business motor vehicles, diesel and gasoline engines, electrical power systems and connected elements and expert services principally in Australia and New Zealand. Additionally, PAG owns 28.9% of Penske Transportation Solutions, a business that manages a fleet of over 366,000 autos furnishing impressive transportation, source chain and technological innovation methods to North American fleets. PAG is a member of the Fortune 500, Russell 1000, and Russell 3000 indexes, and is ranked amongst the World’s Most Admired Companies by Fortune Journal. For additional details, pay a visit to the firm’s web site at www.penskeautomotive.com.

Warning Relating to Ahead Hunting Statements

Statements in this push release might include ahead-hunting statements, such as ahead-looking statements regarding Penske Automotive Team, Inc.’s fiscal efficiency, acquisitions and advancement options. Precise final results may well differ materially for the reason that of dangers and uncertainties that are tricky to forecast. These hazards and uncertainties incorporate, among many others, the period, severity, and resolution of the COVID-19 pandemic, federal government mandated limitations on our company in mild of COVID-19 or otherwise, financial and geo-political problems usually, ailments in the credit marketplaces, adjustments in fascination charges and international currency trade costs, variations in tariff fees, improvements in the distribution product in our worldwide operations by means of agency or other suggests, adverse disorders impacting a individual producer, which includes the adverse affect to the motor vehicle and elements provide chain because of to restricted car or truck availability thanks to the COVID-19 pandemic, the scarcity of automotive semiconductor chips or other parts, all-natural disasters, recall or other disruptions that interrupt the source of cars or parts to us, modifications in buyer credit rating availability, the final result of legal and administrative matters, and other elements above which administration has limited manage. These forward-seeking statements ought to be evaluated alongside one another with further details about Penske Automotive Group’s company, markets, circumstances, and other uncertainties, which could impact Penske Automotive Group’s upcoming functionality. These dangers and uncertainties are resolved in Penske Automotive Group’s Sort 10-K for the 12 months finished December 31, 2021, and its other filings with the Securities and Trade Commission (“SEC”). This push launch speaks only as of its date, and Penske Automotive Team disclaims any duty to update the facts herein.

Inquiries really should speak to:

Shelley Hulgrave

Anthony Pordon

Government Vice President and

Govt Vice President Trader Relations

Chief Fiscal Officer

and Corporate Advancement

Penske Automotive Group, Inc.

Penske Automotive Group, Inc.

248-648-2812

248-648-2540

[email protected]

[email protected]

PENSKE AUTOMOTIVE GROUP EXPANDS PRESENCE IN SOUTHERN CALIFORNIA

Penske Automotive Team logo. (PRNewsFoto/Penske Automotive Group)

Cision

Cision

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