Eagers Automotive (APE) Investor Presentation summary

Strategic investments and equity raising

• Acquisition of a 65% equity interest in CanadaOne Auto for C$953 million (A$1,043 million), funded by a mix of scrip and cash, with a 55% indirect interest in operating companies and 65% in freehold properties.

• Mitsubishi Corporation invests A$50 million for new shares in Eagers and A$70 million for a 20% stake in easyauto123, forming a broader strategic partnership.

• Equity raising includes a A$452 million entitlement offer and a strategic placement to Mitsubishi, with new shares issued at a significant discount to market price.

• The acquisition is expected to be immediately mid-teens EPS accretive on a pro forma basis, with pro-forma leverage of 1.20x at June 2025.

• Funding mix includes exchangeable shares, entitlement offer, placement, strategic investment in easyauto123, and debt, maintaining a strong balance sheet.

CanadaOne investment rationale and financials

• CanadaOne is a top 5 Canadian dealership group with 42 locations, 20 OEM brands, and a strong property portfolio, delivering 32% revenue CAGR since 2022.

• LTM June 2025 turnover is A$5.5 billion, adjusted EBITDA A$334 million, and adjusted PBT A$221 million, with a 4.0% return on sales and low net debt.

• The dealer-partner model drives high alignment and performance, with new vehicle sales per dealership about twice the Canadian industry average.

• CanadaOne’s operational excellence is reflected in 109% parts and service absorption and a highly experienced management team.

• The acquisition provides a platform for further North American consolidation and the rollout of Eagers’ easyauto123 model in Canada.

Strategic partnership with Mitsubishi Corporation

• Mitsubishi’s investment supports a strategic alliance to explore growth opportunities in automotive retail, used cars, financial services, and mobility solutions.

• The partnership leverages Mitsubishi’s global network and experience, aiming to maximize value across the vehicle lifecycle and promote sustainable mobility.

• Mitsubishi’s 20% stake in easyauto123 is valued at A$70 million, with plans to contribute expertise and drive scale and value enhancement.