Lithia Motors Investor Presentation — July 2021

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Forw ard -Looking Statements

Certain statements in this presentation, and at times made by our officers and representatives, constitute forward -looking state ments within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform

Act of 1995. Generally, you can identify forward -looking statements by terms such as "project", "outlook", "target", "may", "wil l", "would", "should", "seek", "expect", "plan", "intend", "forecast", "anticipate", "believe", "estimate",

"predict", "potential", "likely", "goal", "strategy", "future", "maintain", and "continue" or the negative of these terms or other comparable terms. Examples of forward -looking statements in this presentation include, among

others, statements regarding:

▪Future m arket conditions, including anticipated car sales levels;

▪Anticipated im pacts of the continued COVID -19 pandem ic on the U.S. and local econom ies in which we operate, our business operati ons and consum er dem and;

▪Continuation of our sales and services, including in -store appointm ents and hom e deliveries;

▪Expected growth from our e -com m erce hom e solutions and digital strategies;

▪Expected operating results, such as im proved store perform ance; continued im provem ent of selling, general and adm inistrative expenses ("SG&A") as a percentage of gross profit and all projections;

▪Anticipated integration, success and growth of acquired stores;

▪Anticipated ability to capture additional m arket share;

▪Anticipated ability to find accretive acquisitions;

▪Expected revenues from acquired stores;

▪Anticipated synergies, ability to m onetize our investm ent in digital innovation;

▪Anticipated additions of dealership locations to our portfolio in the future;

▪Anticipated financial condition and liquidity, including from our cash, availability on our credit facility and unfinanced re al estate;

▪Anticipated use of proceeds from our financings;

▪Anticipated allocations, uses and levels of capital expenditures in the future;

▪Expectations regarding com pliance with financial and restrictive covenants in our credit facility and other debt agreem ents;

▪Statem ents regarding furloughed em ployees and cost reductions;

▪Expectations regarding program s and initiatives for em ployee recruitm ent, training, and retention; and

▪Our strategies for custom er retention, growth, m arket position, financial results and risk m anagem ent.

Because forward -looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circum stances that are difficult to predict and many of which are outside of our control. Forward -looking