Diversified Subsidiary Companies Presentation slide image

Diversified Subsidiary Companies Presentation

Segment: Automotive Segment Description • We conduct our Automotive segment through our wholly owned subsidiaries, Icahn Automotive Group LLC ("Icahn Automotive") and our wholly owned subsidiary, AEP PLC LLC ("AEP PLC") The Automotive segment is engaged in providing a full range of automotive repair and maintenance services, along with the sale of any installed parts or materials related to automotive services ("Automotive Services") to its customers, as well as sales of automotive aftermarket parts and retailed merchandise ("Aftermarket Parts"). In addition to its primary business, the Automotive segment leases available and excess real estate in certain locations under long-term operating leases Historical Segment Financial Summary Highlights and Recent Developments • . • • FYE December 31, Automotive Segment (1) ($Millions) 2021 2022 2023 • Selected Income Statement Data: Net sales and other revenue from $2,394 $2,394 $1,741 operations Adjusted EBITDA (2) (67) (31) 113 • Net income (loss) (260) (192) (6) Segment Balance Sheet Data (3): Total assets $2,582 $2,532 $2,019 Equity attributable to IEP $1,575 $1,530 $1,096 Automotive Services provides Do-It-For-Me automotive repair services for retail and fleet customers with over 900 stores and 8,000 service bays located in the United States and Puerto Rico The Automotive segment continues to progress through its multi-year transformation plan focused on customer service, quality, and profitable growth The leadership team has focused on key strategic initiatives including: Positioning the Automotive Services business to take advantage of opportunities in the do-it-for-me market and vehicle fleets Improving inventory management and distribution network Investment in, and strategic review of, capital projects within Icahn Automotive's owned and leased locations to increase leasing revenue, restructure lease liabilities, and reduce occupancy costs Strategic investment in brownfield and greenfield supplementing existing store footprints Investment in customer experience initiatives and selective upgrades in facilities Investment in employees with focus on training and career development Business process improvements, including investments in our supply chain and information technology capabilities 23 As of January 31, 2023, IEH Auto Parts Holdings LLC ("Auto Plus") was deconsolidated due to voluntary Chapter 11 bankruptcy proceedings. Refer to the Adjusted EBITDA reconciliations in the Appendix. Balance Sheet data as of the end of each respective period. 12 12
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