Slides
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CAR Group Limited 2026 AGM Presentation 30 October 2026
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Agenda 1 FY26 highlights & FY27 outlook Page 4 – 10 2 FY26 AGM 2 Strategy update Page 11 – 18
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AGM video available at cargroup.com 3
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1. FY26 highlights & FY27 outlook 4
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All financial information is presented in AUD unless otherwise stated. All comparatives are vs prior comparative period “pcp”, unless otherwise stated. EBITDA = Earnings Before Interest, Tax, Depreciation & Amortisation. NPAT = Net Profit After Tax attributable to owners of CAR Group Limited. (1) Proforma financial information excludes the Australian Tyres business unit sold in FY25 and certain non-recurring or non-cash items as in adjusted financials. (2) Adjusted financial information excludes certain non-recurring or non-cash items. See slide 22 regarding the disclosure of non-IFRS information and slide 44 of the FY26 Results Presentation for a reconciliation of Adjusted to Reported Financials. (3) Reported financial information is in accordance with IFRS. (4) CC = Constant currency. Constant currency represents the underlying change vs pcp in local currency. This is calculated by restating the prior period results using current period FX rates. (5) Refer to slide 9 for the cash conversion calculation method. (6) EBITDA = Proforma EBITDA. $1,253m Cash Conversion5 Proforma1 Revenue $700m 56% Proforma1 EBITDA margin Proforma1 EBITDA $314m 1.7x Net Debt:EBITDA6 Reported3 NPAT 107.6cps Adjusted2 Earnings per share Adjusted2 NPAT $407m FY26 highlights Financial highlights 100% 12% 10% In CC4 in AUD 12% 9% In CC4 in AUD 14% In AUD 11% 8% In CC4 in AUD 5
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FY26 highlights Compounding growth • Used vehicles are less cyclical than new vehicle transactions. They are the largest, most consistent part of the market. • Dealers and OEMs rely on us to move inventory in any economic environment, including when interest rates are high. • Marketplaces deliver a high return on investment, making us the channel dealers keep when others are cut. • Subscription model in the US and South Korea drives high recurring revenue. • Cost base has a good level of flexibility. • Diversity of geographies and industries provides resilience. Group Proforma1 financial performance ($AUDm) FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 Revenue EBITDA EBITDA CAGR: 15% Revenue CAGR: 14% 6 (1) Refer to footnotes 1 and 2 on slide 5 for proforma definition. Revenue and EBITDA CAGR calculated on a constant currency basis. Constant currency represents the underlying change vs pcp in local currency. This is calculated by restating the prior period results using current period FX rates. Consistent growth through multiple cycles
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0% 200% 400% 600% 800% 1,000% 1,200% 1,400% CAR Group (ASX:CAR) S&P/ASX 200 CAR Group (CAR) Total Shareholder Return (TSR) v S&P/ASX 200 Total Return Index (AXNT)1 818% 277% (1) Total Shareholder Return (TSR) includes dividends paid and share price appreciation from 9 September 2009 to 29 October 2026 FY26 highlights Shareholder return 7
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26% of Group Revenue 20% of Group Revenue 12% of Group Revenue AsiaAustralia 41% of Group Revenue Growth rates are presented on a constant currency basis. Constant currency represents the underlying change vs pcp in local currency. Revenue contribution adds to 100% when the investments segment is included. FY26 highlights Our global portfolio The Americas North America Latin America Key brands and group revenue contribution 8 +7% +8% +12% +12% +19% +23% +15% +14% Revenue Adjusted EBITDA
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Strong cash flow and robust balance sheet Cash flow $AUDm1 Reported EBITDA to cash conversion 100% EBITDA to cash conversion reflects the attractive working capital profile of marketplace business models and good cash collections. Leverage ratio remains prudent at 1.7x. Refinancing of bank facilities completed in Aug-26 providing extended maturities and additional funding capacity. Growth capex investment as a percentage of revenue remained stable at 10%. Increase in other capex was primarily driven by new office fitouts. Investments include C2C payments, Wallet, value- based pricing, media strategy, site simplification, marine and branch upgrades in South Korea. EBITDA to Cash flow Capex3Net debt Net debt $AUDm Leverage ratio2 605 669 98% 100% 70% 90% 110% 130% 150% 170% - 100 200 300 400 500 600 700 800 FY25 FY26 1,079 1,198 1.7 1.7 1.0 1.5 2.0 2.5 3.0 - 500 1,000 Jun-25 Jun-26 FY26 highlights Refer to footnote 1 on slide 5 for proforma financial definitions. (1) Operating cash flow excluding tax. (2) Jun-25 and Jun-26 - leverage ratio has been calculated based on Net debt / Proforma EBITDA. Ratios may vary with bank covenant definitions. (3) All periods exclude the Australian Tyres business unit for revenue & capex. CapexCash flow conversion Leverage, net debt 9 111 130 8 11 10% 10% -6% 4% 14% 24% 34% 44% - 20 40 60 80 100 120 140 160 FY25 FY26 Other Capex Inc Leases Growth Capex Growth Capex % of Revenue
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Outlook FY27 outlook 11-14% Revenue growth in constant currency 10-13% Adjusted EBITDA growth 9-12% Adjusted NPAT growth These financial outcomes are dependent on a number of factors, including prevailing macroeconomic conditions, geopolitical risk, customer demand, and movements in inflation and FX rates. Growth % represents anticipated growth in constant currency vs FY26. FY27 outlook is provided in line with the further details on slide 21. in constant currency in constant currency We expect to deliver excellent growth in FY27 10
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11 2. Strategy update
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The biggest audience in every market Clear #1 brands in every market we operate in, and the trust that comes with them Integrated ecosystems Embedded with dealers, consumers and OEMs, on both sides of every sale Unique data assets at scale Two decades of listings, pricing, enquiries and real sale outcomes across five markets Delivering the best customer experience AI is amplifying the advantages of our market- leading positions, proprietary data and ecosystem reach. Strategy update Transforming customer experience through scale, data and innovation 12 We own what matters in vehicle marketplaces
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Direct Most of our traffic Search engines LLMs Personal agents Our sites and apps CG/Agent Our data and ecosystem Listings, pricing, dealers and finance 1 Search is becoming agentic More of the searching, comparing and shortlisting will be done by agents. We are building for it. 2 Vehicles need a specialist A complex, high-value purchase needs deep inventory, accurate pricing, verified sellers and transaction support. 3 We integrate with agents and LLMs Horizontal agents and LLMs connect to our ecosystem. 4 We set the terms We decide what data agents can access and how. Our data and connected ecosystems remain our advantage. The front door changes. What's behind it doesn't. Audience Experience Ecosystem Agents are a new way to connect to our ecosystem Strategy update 13
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A buyer asks their AI agent “Find a used family SUV under $40,000 in Melbourne. Can you show me some options?” Stage What the agent needs What we have Search Broad selection of vehicles, live and accurate Most complete dealer and private inventory, in real time Direct feeds from dealer DMS and CRM Evaluate Vehicle history, inspection reports and pricing Inspections, history and pricing from our own data Live market pricing and transaction history Transact Trade-in, finance, identity checks and payment Most trusted platform to verify and complete a sale Payments, Finance & Insurance and Instant Offer Agents optimise for the best, most efficient answer. Backed by unique first-party data, we're built to be that answer. 14 Everything an agent needs to buy a vehicle sits with us Strategy update
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Search and discovery Help buyers find the right car, faster Natural language and voice search Personalised recommendations 4x more likely to submit a lead with AI search at webmotors How we monetise More leads and more completed sales Merchandising and sourcing Better listings and more stock AI-written listing descriptions Pricing guidance and market value Stock sourcing insights for dealers 50% faster inspections at Encar using AI How we monetise Higher-value subscriptions and new dealer products Lead nurturing Turn interest into sales Pre and post-enquiry nurturing 24/7 AI transaction support Finance conversion optimisation <18 mins lead response time at Trader Interactive using AI Lead Response How we monetise New paid products and more deals closed 15 AI is earning revenue at every step of buying and selling a vehicle Strategy update CG/Agent
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Product video available at cargroup.com 16
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AI Technology Hub Our global AI hub in Brazil builds core agentic capabilities, with local teams adapting them for each marketplace. Our approach enables rapid deployment across multiple marketplaces, benefitting from economies of scale. CG/lab is funded within existing investment levels. Key Areas of Focus Building core agentic AI capabilities Embedding AI deeply across the customer journey Developing end-to-end buyer and seller agents Integrating CAR experiences into generative platforms Launching apps within LLM ecosystems Ensuring responsible AI governance Speed | Efficiency | Economies of Scale CG/lab is driving rapid AI product deployment Strategy update 17
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Double-digit growth in Proforma revenue, Proforma EBITDA and Adjusted NPAT in constant currency. Group EBITDA margins maintained at 56% while investing in Marine (US) and Dealer Direct (Korea). Excellent growth across every key segment, including double-digit revenue and EBITDA growth in the US. Deeper integration across our buyer and seller ecosystems. AI product development continuing at pace, sharpening the customer experience. AI-driven operational efficiencies – greater speed, accuracy and scale with no incremental investment required. Excellent FY27 outlook. Key takeaways 18 FY26 AGM
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19 Thank you
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20 Appendices
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FY27 Outlook FY27 Commentary 11-14% Revenue Growth (in constant currency) Australia Expect high single-digit % revenue growth driven by volume, yield and depth penetration in Dealer; volume, yield and Instant Offer in Private; and continued product and advertiser diversification in Media. North America Expect double-digit % revenue growth in constant currency supported by higher customer yield, increased penetration of depth products, media expansion, data growth and marine. Latin America Expect double-digit % revenue growth in constant currency to be driven by increase in dealer customers, yield and increased penetration of premium dealer products, finance and media revenue. Asia Expect double-digit % revenue growth in constant currency supported by continued uplift in Guarantee penetration combined with higher Encar Home and Dealer Direct volumes. 10-13% Adjusted EBITDA Growth (in constant currency) • Continued operating leverage expected in Australia and Latin America. • North America revenue growth expected to be higher than EBITDA growth due to ongoing investment in marine. • Asia revenue growth expected to be higher than EBITDA growth due to investment in scaling the Dealer Direct and Home Services products. 9-12% Adjusted NPAT Growth (in constant currency) • Net finance costs estimated to be ~$66-$72m. • D&A expected to grow at ~16-19%. • Effective tax rate expected to be ~20-21%. FY27 outlook and commentary These financial outcomes are dependent on a number of factors. These factors include prevailing macroeconomic conditions, geopolitical risk, customer demand, and movements in inflation and FX rates. Growth % represents anticipated growth in constant currency vs FY26. 21 Appendices
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Disclaimer The material in this presentation has been prepared by CAR Group Limited (ASX: CAR) ABN 91 074 444 018 (“CAR Group”) and is general background information about CAR Group’s activities current as at the date of this presentation. The information is given in summary form and does not purport to be complete. In particular, you are cautioned not to place undue reliance on any forward-looking statements regarding our belief, intent or expectations with respect to CAR Group’s businesses, market conditions and/or results of operations, as although due care has been used in the preparation of such statements, actual results may vary in a material manner. Information in this presentation, including forecast financial information, should not be considered advice or a recommendation to investors or potential investors in relation to holding, purchasing or selling securities. Before acting on any information you should consider the appropriateness of the information having regard to these matters, any relevant offer document and in particular, you should seek independent financial advice. Non-IFRS Financial Information CAR Group results are reported under International Financial Reporting Standards (IFRS). This presentation also includes certain non-IFRS measures including “adjusted” and “proforma”. These measures are used internally by management to assess the performance of our business and our associates, make decisions on the allocation of resources and assess operational management. Non-IFRS measures have not been subject to audit or review. All numbers listed as reported comply with IFRS. 22 Disclaimer and non-IFRS information Appendices
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What is IFRS and non-IFRS financial information? • IFRS financial information is financial information that is presented in accordance with all relevant accounting standards • Non-IFRS financial information is financial information that is presented other than in accordance with all relevant accounting standards. For example: o Revenue or profit information calculated on a basis other than under accounting standard definitions or calculated with accounting standards and then adjusted e.g. “adjusted” or “proforma” What non-IFRS financial information does CAR Group disclose in its half year and full year results presentations? • CAR Group presents reported financial information for its business segments, associates and investments where applicable IFRS financial information exists. The financial information presented is sourced directly from financial information prepared in accordance with all relevant accounting standards and has been subject to either review or audit by CAR Group’s external auditors (PwC) • In CAR Group’s investor presentations the company aims to provide equal or greater prominence to IFRS financial information. However, we also present or refer to non-IFRS financial information. Please note, all information labelled “Reported” in this presentation complies with IFRS • Non-IFRS financial information is calculated based on statutory IFRS financial information and adjusted to show either a position excluding significant items which have been removed OR presented based on CAR Group’s effective equity ownership interest of an entity’s underlying revenue, EBITDA or NPAT • Any non-IFRS financial information is clearly labelled as “Adjusted” or “Proforma” to differentiate it from reported/IFRS financial information • CAR Group provides reconciliations on the face of slides, appendices and in footnotes of presentations in order to allow the reader to clearly reconcile between the IFRS and non- IFRS financial information Why does CAR Group disclose non-IFRS financial information in its half year and full year results presentations? • CAR Group has invested in businesses in Malaysia, Thailand, South Korea, the United States, Chile and Brazil, and has evolved into a global portfolio of online automotive assets. Accordingly, CAR Group management believes that presenting additional non-IFRS information in its half year and full year results presentations provides readers with a greater understanding of how management analyses the business, as well as meaningful insights into CAR Group’s overall financial performance and position. • The Australian Securities and Investments Commission (“ASIC”) acknowledges the relevance of non-IFRS financial information in providing “meaningful insight” as long as it does not mislead the reader Appendices 23 Overview of CAR Group non-IFRS financial information