PENSKE AUTOMOTIVE GROUP INCREASES DIVIDEND

Dividend increase $0.04 per share, or 7%, $0.61

Bloomfield Hills, Michigan., January 25, 2023 /PRNewswire/ — Penske Automotive Group, Inc. (NYSE: PAG), a diversified international transportation services company and one of the world’s leading automobile and commercial truck retailers, announced today that its board of directors Dividend $0.04 per share, or 7%, $0.61 per share. “Building on the strength of our diversified business model and our continued strong cash flow, we are pleased to offer our shareholders an increased cash dividend,” said Penske Automotive Group President. Robert Kurnick Jr. dividend is paid March 1, 2023to shareholders of record February 10, 2023.

About Penske Automotive

Penske Automotive Group, Inc. (NYSE: PAG) Bloomfield Hills, Michiganis a diversified international transportation services company and one of the world’s leading retailers of automobiles and commercial trucks. PAG operates dealers primarily in the country. usa, England, Canada, Germany, ItalyWhen Japan is one of the largest commercial truck retailers in North America for Freightliner. PAG also markets and distributes commercial vehicles, diesel and gas engines, power systems, related parts and services primarily domestically. Australia When new zealandIn addition, PAG owns 28.9% of Penske Transportation Solutions (“PTS”). North America With over 414,500 trucks, tractors and trailers under lease, rental and/or maintenance agreements, we provide innovative transportation, supply chain and technology solutions to our customers. PAG is a member of the Fortune 500, Russell 1000 and Russell 3000 indices and is ranked among the world’s most admired companies by Fortune magazine. For more information, please visit the company’s website at www.penskeautomotive.com.

Cautionary Note Regarding Forward-Looking Statements

Statements in this press release may contain forward-looking statements, including forward-looking statements regarding Penske Automotive Group, Inc.’s financial performance and future plans. Actual results may differ materially due to risks and uncertainties that are difficult to predict. These risks and uncertainties include new and used vehicle sales, the availability of consumer credit, changes in consumer demand, consumer confidence levels, fuel prices, individual discretionary spending levels, consumer Credit availability, interest rates, unemployment.Especially supply chain disruptions due to natural disasters, shortages of microchips and other components, the COVID-19 pandemic, war Ukraine, challenges in sourcing labor, or other disruptions. Direct sales by manufacturers, shift to an agency model of sales, sales by online competitors, or changes in the retail model due to the expansion of electric vehicles. the continued impact of COVID-19 on the global economy, including our ability to respond effectively to changing business conditions in light of the COVID-19 pandemic; Inflation rate including impact on car affordability. fluctuations in interest rates and foreign exchange rates; our ability to complete and integrate acquisitions; With respect to PTS, changes in customer financial condition, labor strikes or employee work stoppages, reduced asset utilization of PTS, continued availability from truck manufacturers and fleet vehicle and parts suppliers, changes in truck value Used trucks impacting PTS’ profitability in sales, regulatory risk, and associated compliance costs. our ability to realize returns on significant capital investments in new and upgraded dealer facilities; Our ability to navigate rapidly changing car and truck conditions. our ability to respond to new or enhanced regulations in domestic and international markets regarding car dealerships and vehicle sales, including those related to emissions standards, and commercial truck sales that may impede our or PTS’ actions; relevant changes in consumer sentiment; Ability to keep, acquire, sell, or operate trucks. Successful sales of commercial vehicles, engines and power systems. Natural disasters; recall initiatives or other disruptions that interrupt the supply of vehicles or parts to us. As a result of legal and administrative matters and other factors over which management has limited control. These forward-looking statements add to the Penske Automotive Group’s businesses, markets, conditions, risks and other uncertainties that may affect the Penske Automotive Group’s future results of operations. It should be evaluated with information. The risks and uncertainties set forth above are not exhaustive and additional risks and uncertainties are addressed in Penske Automotive Group’s Form 10-K. December 31, 2021Closed Quarterly Form 10-Q March 31, 2022, June 30, 2022When September 30, 2022, and other filings with the Securities and Exchange Commission (“SEC”). This press release speaks only as of its date, and Penske Automotive Group does not undertake any obligation to update the information contained herein.

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Source: Penske Automotive Group