Asbury Automotive : Investor Presentation Q2 2021

Investor Presentation

Q2 / 2021

© Asbury Automotive Group 2021. All Rights Reserved (NYSE: ABG)

Forward Looking Statements

To the extent that statements in this presentation are not recitations of historical fact, such statements constitute "forward-looking statements" as such term is defined in the Private Securities Litigation Reform Act of 1995. The forward-looking statements in this presentation may include statements relating to goals, plans, expectations, projections regarding the expected benefits of management's plans, projections and objectives for future operations, scale and performance, integration plans and expected synergies from acquisitions, our financial position, results of operations, market position, capital allocation strategy, business strategy and expectations of our management with respect to, among other things: changes in general economic and business conditions, including the impact of COVID-19 on the automotive industry in general, the automotive retail industry in particular and our customers, suppliers, vendors and business partners; our relationships with vehicle manufacturers; our ability to improve our margins; operating cash flows and availability of capital; capital expenditures; the amount of our indebtedness; the completion of any pending and future acquisitions and divestitures; future return targets; future annual savings; general economic trends, including consumer confidence levels, interest rates, and fuel prices; and automotive retail industry trends.

The following are some but not all of the factors that could cause actual results or events to differ materially from those anticipated, including: the impact of the COVID-19 pandemic, market factors, Asbury's relationships with, and the financial and operational stability of, vehicle manufacturers and other suppliers, acts of God or other incidents which may adversely impact supply from vehicle manufacturers, such as the shortage of semi-conductor chips, which has adversely impacted new vehicle inventory supply, and/or present retail sales challenges, risks associated with Asbury's indebtedness (including available borrowing capacity, compliance with its financial covenants and ability to refinance or repay such indebtedness, on favorable terms), Asbury's relationships with, and the financial stability of, its lenders and lessors, risks related to competition in the automotive retail and service industries, general economic conditions both nationally and locally, governmental regulations, legislation, adverse results in litigation and other proceedings, and Asbury's ability to execute its five-year strategic plan, technology initiatives and other operational strategies, Asbury's ability to leverage gains from its dealership portfolio, Asbury's ability to capitalize on opportunities to repurchase its debt and equity securities or purchase properties that it currently leases, and Asbury's ability to stay within its targeted range for capital expenditures. There can be no guarantees that Asbury's plans for future operations will be successfully implemented or that they will prove to be commercially successful. These risks, uncertainties and other factors are disclosed in Asbury's Annual Report on Form 10-K, subsequent quarterly reports on Form 10-Q and other periodic and current reports filed with the Securities and Exchange Commission from time to time.

These forward-looking statements and such risks, uncertainties and other factors speak only as of the date of this presentation. We expressly disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement.

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NYSE | ABG	© Asbury Automotive Group 2021. All rights reserved.

Mission & Vision

North Star is the "Guest Experience"

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NYSE | ABG	© Asbury Automotive Group 2021. All rights reserved.

NYSE:ABG
FORTUNE 500	~$8B
AUTOMOTIVE RETAILER	TOTAL REVENUE (1)

6th LARGEST (5) AUTOMOTIVE RETAILER

3%

6%

91(3)	HIGHLIGHTS
Locations

New PVR	SG&A % of GP
$3,912/+103%	54.2%/-850 bps
Used Retail PVR	Adj. Operating Margin(4)
$2,737/+59%	8.4%/+280 bps
F&I PVR	Adj. EPS(4)

5%3%

6%

3%

15%

26%

New Vehicle

33%

Revenue(2)

112(3)
	Franchises
			Q2
31(3)
	Brands
25(3)
Collision Centers

$1,827/+5%	$7.78/+209%
Adjusted	Available
Net Leverage(3,4)	Liquidity(3)
1.6x	$576M

Completed first full quarter with , our next generation automotive ecosystem and on-line sales platform, rolled out to all of our dealerships

Q2 / 2021

NYSE | ABG

1. For the twelve months ending Dec 31, 2020, pro forma reflecting the impact of acquisitions and divestures closed in 2020
2. For the three months ending Jun 30, 2021,

(3) As of Jun 30, 2021 (4) See Non-GAAP Reconciliations (5) According to 2020 Automotive News Top 150 Dealership Groups Report

Attractive Brand Mix

(Based on New Vehicle Revenue - June '21 YTD)

	Luxury - 45%		Import - 39%		Domestic - 16%

Very attractive portfolio of brands; high concentration of import and luxury

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NYSE | ABG	© Asbury Automotive Group 2021. All rights reserved.