#1Inchcape INVESTOR PRESENTATION May 2023#2Inchcape Inchcape: Group overview Our business Our differentiators Our financials Distribution focus c.90% of profit Vehicles & Parts Strong automotive brands Global scale 6 continents >40 markets Technology Digital & Analytics leader ROCE c.25% Cash conversion >60% 2 Leading global automotive distributor Long-term relationships with global OEMS Specialist in higher growth markets Leveraging technological capability Strong financial position (M&A firepower) Attractive capital allocation framework#3Inchcape 2022 headline financials Topline Profitability Cash Revenue Operating margin Free Cash Flow £8.1bn 5.1% £380m +15% £373m £(378)m Shareholders Adjusted EPS 72.0p 28.8p (2021:22.5p) Organic growth (YoY%) PBT Net debt¹ Dividend per share (proposed) Figures are stated before adjusting items, and on the basis of continuing operations 1: net debt reflects the completion of the Derco transaction on 31 December 2022. NB. Derco did not contribute any revenue or profit to the Inchcape Group in 2022 3#4Inchcape Considerable opportunities for an ambitious Inchcape Distribution Excellence Annual new car volumes (units) 90m 17m New market opportunities Large markets; typically insourced by OEMs e.g. China, US, UK, Brazil, Mexico 17m Global Inchcape markets worldwide INCHCAPE Diyla Catomer DISTRIBUTION 108 Vehicle Lifecycle Services Vehicle lifecycle value profit split² 25% Inchcape volumes Typical distribution markets1 Initial User (0-4 years) 1: Defined as those markets with annual new car volumes of less than 1m units 2: Analysis shows the split of profit attainable over an average vehicle's life, and assumes four different owners during that period The analysis captures the vehicle sales, finance & insurance commission and the aftersales services (including independent aftermarket) 3x New vehicle import Lifetime profits 25% 1st sale 75% 2nd sale 3rd sale 75% ---. Currently underserved Subsequent Users (4+ years) by Inchcape DIA DIA DI 4 41#5Inchcape Distribution deals & OEM opportunities have accelerated 2010 2016 2017 2018 2019 2020 2021 2022 2023 to date Number of deals 0 2 2 3 3 5 5 5 22 Revenue added¹ c.£400m c.£100m c.£250m c.£150m c.£200m c.£200m c.£2.3bn c.£300m New OEMs 1 2 2 1 0 New markets 3 7 1 3 0 3 2 2 3 1 1 5 1: Shows revenue reported in the last full financial year prior to Inchcape's ownership (e.g. Derco acquired on 31 December 2022, and 'revenue added' is the £2.2bn generated in the year ending December 2022) 2: CATS Group (Philippines: Mercedes-Benz, Chrysler, Dodge, Jeep, Jaguar Land Rover and RAM) and Mercedes-Benz Indonesia; remain subject to customary conditions with completion anticipated in the second half of 2023#6Inchcape DERCO ACQUISITION FEUD DERCO center#7Inchcape Derco: at a glance DERCO Headquarters: Santiago, Chile 0 Chile Peru Colombia Bolivia Existing portfolio: key facts ~4,500 colleagues 4 markets #1 player in Chile, Peru and Bolivia¹ #3 player in Colombia¹ 11 OEM brands 150k £2.2bn new vehicles distributed revenue (2022) 1: Market position by volume (2021) | 2: Remaining 70% operated by a network of independent dealers appointed by Derco 329 locations; ~30% operated by Derco² 7#8Inchcape Significant progress towards our strategy & growth ambitions Strong topline growth prospects Margin upside Distribution consolidation Shareholder value creation Increases exposure to higher growth markets Leverage combined scale to capture more vehicle lifetime value Derco is margin accretive for the Group Significantly increases Inchcape's distribution scale 20+% EPS accretion from year two Significant opportunity for synergies Global automotive distribution remains highly fragmented ROIC > Project WACC in year three Extending Inchcape's global leadership and creating significant value 8#9Inchcape Significant portfolio shift towards Distribution Revenue mix + 36% 4% 18% 78% 30% 43% 29% 22% 72% 9% 25% 57% 28% 22% Inchcape 2016A Inchcape 2022A Derco 2022A 27% 13% Profit mix + 50% 73% 89% 53% 40% 27% 20% 7% 22% 15% 27% 11% 8% Inchcape Enlarged Inchcape 2016A Inchcape 2022A Derco 2022A Inchcape Enlarged Europe & Africa Retail Americas Distribution Emerging Markets (2016) Europe (2016) "Inchcape Enlarged" reflects the 2022 performance of Inchcape Group (on the basis of continuing operations) plus Derco "Inchcape 2016A" reflects the performance of Inchcape Group as reported in 2016 (on the basis of the prevailing regional split) In 2016 "Emerging Markets" included Americas & Africa APAC 9 92%#10BRINGING MOBILITY TO THE WORLD'S COMMUNITIES FOR TODAY, FOR TOMORROW & FOR THE BETTER#11Inchcape Investment case: well-positioned to deliver significant value Consolidation opportunities Attractive shareholder returns Strong organic growth Exposure to higher growth markets History of market outperformance Margin expansion Leverage our global scale to improve profitability Actively pursuing higher margin activities We are the leader with c.2% share of global distribution Market consolidation expected to accelerate Dividend payout: 40% Track record of share buybacks Medium-term financial outlook Distribution Excellence: mid-to-high single digit profit CAGR plus M&A Vehicle Lifecycle Services: >£50m incremental profit contribution 11#12Inchcape APPENDIX 12 C#13Inchcape Capital allocation policy: highly attractive and disciplined 1) Invest in the business Capex for organic growth and technological investment 2) Dividends 3) Value accretive M&A Policy: Disciplined 40% annual payout of basic EPS (adjusted) approach to valuation 4) Share buybacks Consider appropriateness of share buybacks Cumulative 2016 to 2022 £450m capex spend (<1% of sales) £560m of dividends £1.9bn of distribution acquisitions £440m of share buybacks Net debt to EBITDA of max 1x (pre IFRS16) Cumulative outflow on M&A includes net debt acquired (ex-leases) and the value of shares granted (in the case of Derco the transaction included £280m of shares, to be issued to the Del Río family) 13#14Inchcape Accelerate strategic framework Our Growth Drivers Distribution Excellence Vehicle Lifecycle Services Our Enablers Culture and Capabilities Digital, Data & Analytics Efficient Scale Operations Responsible Business ☑ 14#15Inchcape Inchcape: the leading automotive distributor Retail Services Aftermarket Services INCHCAPE Product Planning Digital Customer Experience Data Analytics Logistics Our competitive advantages: ■The global leading distributor: >40 markets across six continents Long-term relationships, and several new exciting partnerships, with global OEM brands Connected Global Local Platforms DIFFERENTIATED Channel Management Market Expertise DISTRIBUTION Brand & Marketing ■ A plug-and-play distribution platform: unique digital and data analytics capabilities 15#16Inchcape Vehicle Lifecycle Services: exploring new opportunities Vehicle Lifecycle Value New vehicle import Lifetime 1st sale profits % 25% 75% 2nd sale 3rd sale DI DI DI. B2C 2. Digital Parts Platform 24 Three opportunities in focus Timeline Progress since 2021 CMD 1. bravoauto 2021/ 1. bravoauto rolled-out to all three Distribution regions 22 2023/ 2. Further developed our Digital Parts Platform Launch in 2023 B2B Trade-in 3. Used car listing platform TBC 3. Reflecting on how we best explore this opportunity Aftermarket B2B Currently underserved by Inchcape % Finance & Insurance Note: Analysis shows the split of profit attainable over an average vehicle's life, and assumes four different owners during that period The analysis captures the vehicle sales, finance & insurance commission and the aftersales services (including independent aftermarket) 1600#17Inchcape Excellent progress across our Responsible Business pillars Planet dy Foong People ONE Louis Manzano Carla Henry Victoria Sarmya ONE ONE Mel Tucker Kornur Tan Dalle Stephens Mark Kennedy Serena Wong Elaine Perez Nielsen Chia Dorothy Places Inchcape Driving What Matters Juntos estamos MOVILIZAND CRAZ NES NEGOCIO RESPONSABLE Practices 17 Inchcape SPEAK UP! Strong business relies on integrity without compromise. ■ Good progress towards our Scope 1 & Scope 2 CO2 emissions targets ■ Adopted renewable energy sources including investments in solar panels Launched Inclusion & Diversity and Women into Leadership programmes ■LifeWorks to support mental, physical social and financial wellbeing ■ Partnerships supporting prosthetics charities in Europe & the Americas ■ Road safety partnerships now in place in all regions We work responsibly and impact the world for the better, to the benefit of all our stakeholders Active promotion of our whistle-blower hotline. across both employees and suppliers ■ Accredited for our global heath and safety programme#18Inchcape 18 Extending Inchcape's global leadership in automotive distribution + Inchcape DERCO Accelerate strategy in action Inchcape acquires LatAm's largest independent automotive distributor Significantly expands Inchcape's position in highly attractive and fast growth markets within the Americas Combines two best-in-class operators with complementary market footprints and OEM brand portfolios Significant value creation through enhanced growth prospects and delivery of meaningful synergies (>£40m recurring + revenue) Culturally aligned with Inchcape Step-up in scale of distribution business Invest in higher growth markets Add new and complementary automotive brands Distribution Excellence e.g. digital and data, FIP ■ Opportunity to capture more of a vehicle's lifetime value Family to take a significant stake in Inchcape >>> Strengthening culture and capabilities#19Inchcape A strong and growing platform + deep OEM relationships Derco aggregate market share¹ Years of distribution relationship Current markets 46 4 18% SUZUKI 17% 17% 40 3 mazda 14% 23 1 CHEVROLET 12% RENAULT 22 3 Passion for life 16 2 Great Wall CHANGAN 15 3 JAC 14 3 MOTORS 나 HAVAL 14 2 2014 2016 2018 2020 2021 6 2 CITROEN OEM brands 8 10 10 11 11 6 1 DS AUTOMOBILES Current markets 4 4 4 4 4 JOYLONG 101 2 1 1: Market share in 2021 by total number of units distributed across four markets (Chile, Colombia, Peru and Bolivia) 19#20Inchcape Complementary market footprint and brand portfolio Markets Chile Derco SUZUKI mazda RENAULT Passion for life CHANGAN Great Wall JAC MOTORS HAVAL Inchcape MW ++ BMW ROLLS SUBARU R ROYCE HINO MOTORRAD GEELY JAGUAR MINI LAND -ROVER DFSK VOLVO PORSCHE Typical brand structure Passenger vehicles Luxury brands ✓ Premium brands Peru Colombia HAVAL SUZUKI Great Wall JAC MOTOR S CHANGAN RENAULT Passion for life. mazda CITROEN SUZUKI CITROEN B M W SUBARU HINO Niche brands MINI BYD DFSK BMW MOTORRAD SUBARU HINO DFSK Mainstream brands MACK DIECI JAGUAR DOOSAN LAND- -ROVER DS AUTOMOBILES SUZUKI CHEVROLET mazda Bolivia RENAULT Passion for life JOYLONG JAC CHANGAN MOTORS Mercedes-Benz Entry-level brands Inchcape present in 8 additional countries across Latin America Enlarged Inchcape presence Commercial vehicles 20 20#21Strategic acquisition with attractive recurring synergies... Inchcape 21 221 Organisation ■ Efficiencies of combined organisation ■ Back office (leveraging Inchcape's global and regional platforms) Operations ■ Rationalise service contracts Consolidation of infrastructure (footprint and warehousing) Proven track record of integration ■ Indumotora in 2016 ☐ ■ Rudelman in 2018 ◉ Mercedes-Benz in 2019/20 ■ Ditec in 2022 Simpson Motors/ ITC in 2022 Technology ■ Harmonise systems, and implement best practices and processes Recurring synergies ◉ >£40m recurring synergies ■ 30% realised in year one Significant majority achieved by the end of year two#22Inchcape ...and significant revenue synergy opportunities Enhancing Distribution Excellence * VLS opportunity Network benefits Finance & Insurance Products Digital & data Vehicles in operation² ~1.4m % DXP 101 54 39 DAP ~0.25m >5x Inchcape Americas Inchcape Americas + Derco ■Leverage broader network (new cities and countries) ■Leverage partnerships with financiers and GFV1 product knowledge Leverage Inchcape's digital and data capabilities Leverage combined scale to capture more of a vehicle's lifetime value 1: GFV = guaranteed future value (also commonly referred to as "PCP") | 2: total vehicles distributed over the past 10 years 22 22#23Inchcape Consolidation: plotting the landscape of opportunity Typical distribution markets¹ 17m Inchcape volumes 17m 17m Middle East OEM operated (NSCs) Other OEMS (potential) Latam & Africa Independent distributors Huge growth potential... Inchcape OEM Partners (existing) ...with new & existing OEMs... 1: Defined as those markets with annual new car volumes of less than 1m units APAC Number of independent distributors >170 >500 >250 Europe >220 ...across all regions... 23 23 ...in a highly fragmented industry#24Inchcape 24 24 Drivers of our financial performance Volume g Distribution Excellence Organic M&A Acquisitions & contract-wins Revenue Profit Exposure to higher growth markets ■ Volumes c.10% below historic levels Outperformance ■ Market share gains (DXP, DAP, FIP)1 ◉ Aftermarket growth Leverage overheads Technology efficiencies ☐ Expand OEM relationships ■ Broaden market footprint Revenue synergies Synergies ■ Organisational Vehicle Lifecycle Services New opportunities bravoauto ■ Used volumes & Aftersales ■ Multi-market roll-out Digital Parts Platform ■ Volume of parts sold ■ Marketing revenue Profit from new businesses Medium-term financial outlook ■ Operational Distribution Excellence: ■ Technology mid-to-high single digit profit CAGR plus M&A Vehicle Lifecycle Services: >£50m incremental profit contribution DXP: Digital experience Platform; DAP: Data Analytics Platform; FIP: Finance & Insurance Products