Lithia Motors Investor Presentation — October 2021

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Forward -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 market conditions, including anticipated car sales levels;

▪Anticipated impacts of the continued COVID -19 pandemic on the national and local economies in which we operate, our business ope rations and consumer demand;

▪Continuation of our sales and services, including in -store appointments and home deliveries;

▪Expected growth from our e -commerce home solutions and digital strategies;

▪Expected operating results, such as improved store performance; continued improvement of selling, general and administrative 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 market share;

▪Anticipated ability to find accretive acquisitions;

▪Expected revenues from acquired stores;

▪Anticipated synergies, ability to monetize our investment 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 compliance with financial and restrictive covenants in our credit facility and other debt agreements;

▪Statements regarding furloughed employees and cost reductions;

▪Expectations regarding programs and initiatives for employee recruitment, training, and retention; and

▪Our strategies for customer retention, growth, market position, financial results and risk management.

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