ASBURY AUTOMOTIVE GROUP Business Summary

Asbury Automotive Group Inc. (ABG) operates as a leading automotive retailer in the United States, generating revenue through a diversified model that includes new and used vehicle sales, parts and service operations, and high-margin finance and insurance (F&I) products. The company's primary business segments are its extensive dealership network, which includes 175 new-vehicle stores and 39 collision centers, and its proprietary "Total Care Auto" (TCA) subsidiary, which provides service contracts and vehicle protection products. ABG differentiates itself through a heavy strategic tilt toward luxury and import brands, which account for over 70% of its new-vehicle revenue, and its "Clicklane" omni-channel platform for end-to-end digital car buying. In a highly fragmented market, ABG competes directly with industry giants such as AutoNation, Penske Automotive Group, Lithia Motors, and Group 1 Automotive, positioning itself as a high-growth, technology-forward player with a concentrated footprint in the resilient Sun Belt and Northeast regions. Originally founded in 1995 by Tom Gibson, a former president of Subaru of America, with backing from Onex Corporation and Ripplewood Holdings, the company is currently led by President and CEO David W. Hult, who has overseen a transformative period of acquisitive growth and digital integration. The executive team includes Senior Vice President and CFO Michael Welch and Chief Operating Officer Daniel E. "Dan" Clara, a 23-year company veteran who is designated to succeed Hult as CEO following the May 2026 annual meeting. Technology and innovation initiatives, including the enterprise-wide rollout of the Tekion cloud-based management system, are spearheaded by SVP of Strategy and Innovation Miran Maric. The company's governance is overseen by Board Chair Thomas J. Reddin and Lead Independent Director Bridget Ryan-Berman, with notable recent board additions including Christopher DiSantis, a partner at American Securities.