PENSKE AUTOMOTIVE GROUP Business Summary

Penske Automotive Group, Inc. (PAG) operates as a diversified international transportation services firm, primarily generating revenue through a multi-pillared model of retail automotive dealerships, commercial truck centers, and strategic equity investments. The company’s core Retail Automotive segment focuses on high-margin premium and luxury brands—including BMW, Mercedes-Benz, Audi, and Lexus—deriving income from new and used vehicle sales, finance and insurance (F&I) products, and a resilient service and parts business that reached record levels in 2025. Additionally, PAG operates the Premier Truck Group, a major North American commercial vehicle retailer, and holds a 28.9% stake in Penske Transportation Solutions (PTS), which manages a fleet of over 400,000 vehicles. Competing directly with AutoNation, Lithia Motors, and Group 1 Automotive, PAG distinguishes itself through a dominant international footprint and a strategic pivot toward "high-volume premium" assets, recently solidified by the 2025 acquisition of the world’s most productive Lexus and Toyota dealerships. Originally founded in 1990 as United Auto Group and transformed following a 1999 takeover by Penske Corporation, the company is led by Chairman and CEO Roger S. Penske, a legendary figure in the automotive and racing industries. The executive leadership team includes President Robert H. Kurnick, Jr., and Executive Vice President and CFO Shelley Hulgrave, who oversees the firm’s conservative capital allocation strategy. Technology and digital operations are directed by EVP and Chief Information Officer Richard Hook, while strategic global partnerships are managed by EVP Kawakami, a veteran of Mitsui & Co. The company’s governance is supported by a seasoned board including Vice Chair Greg Penske and independent director Kimberly J. McWaters. PAG remains a Fortune 500 powerhouse with significant institutional backing from Mitsui & Co., Ltd., maintaining a long-standing strategic alliance that bolsters its international expansion and supply chain logistics.