Investor Relations

Press Release

AUTO1 Group commences € 0.5bn ABS programme to finance inventory

Berlin, 8 February 2021 - In accordance with its previously announced plans, on 29 January, AUTO1 Group, Europe's leading digital platform for buying and selling used cars online, initially utilized its €485m asset-backed security (ABS) financing. The company plans to use the proceeds from the notes issued under this programme to fund its inventory across Europe to improve its already vast car selection for wholesale and retail customers.

The ABS programme comprises a €400mm senior note tranche, which received an 'A(sf)' investment grade rating, a €35mm mezzanine note tranche with a split 'BBB(sf)' / 'BB(sf)' rating as well as a €50mm junior-ranking risk retention tranche, with a blended cost of interest of less than 2%.

Markus Boser, CFO of AUTO1 Group: "This innovative ABS programme will allow us to quickly expand our inventory, making it possible to offer our customers even more choice across more than 80 car brands and all relevant price points. We are proud to have received an investment grade rating for the senior tranche from two leading rating agencies, which reflects the strength and stability of our digital platform for buying and selling cars online. This financing structure shows the strong support AUTO1 has from our banking partners as well as the capital markets."

Crédit Agricole Corporate and Investment Bank acted as lead arranger for the facility, while Barclays, BNP Paribas, Citi, Deutsche Bank, Goldman Sachs, HSBC, Intermediate Capital Group, and Royal Bank of Canada joined as noteholders. AUTO1 Group was advised by Freshfields Bruckhaus Deringer Rechtsanwälte Steuerberater PartGmbB. Hogan Lovells advised the senior lenders.

About AUTO1 Group
Founded in 2012, AUTO1 Group is a multi-brand technology company that is building the best way to buy and sell cars online. Its local European consumer brands like wirkaufendeinauto.de offer consumers the fastest and easiest way to sell their car. Its merchant brand, AUTO1.com, is Europe's largest wholesale platform for car trading professionals. With its retail brand Autohero, AUTO1 Group is using its technology, scale and operational excellence to develop the best consumer experience to buy a car online. AUTO1 Group is operating in over 30 countries and achieved revenues of €3.5 billion in 2019.
For more information please visit www.auto1-group.com

Contact
Philip Reicherstorfer
Director Corporate Finance
Phone: +49 30 201 638 213
E-mail: ir@auto1-group.com

AUTO1 Group SE | Bergmannstraße 72 | 10961 Berlin | Germany

DISCLAIMER

This release contains forward-looking statements. These statements are based on the current views, expectations, assumptions and information of the management of AUTO1 Group SE (the "Company"). Forward-looking statements should not be construed as a promise of future results and developments and involve known and unknown risks and uncertainties. Various factors could cause actual future results, performance or events to differ materially from those described in these statements, and neither the Company nor any other person accepts any responsibility for the accuracy of the opinions expressed in this release or the underlying assumptions. The Company does not assume any obligations to update any forward-looking statements. Moreover, it should be noted that all forward looking statements only speak as of the date of this release and that the Company assumes no obligation, except as required by law, to update any forward-looking statement or to conform any such statement to actual events or developments.

The Company expressly disclaims any obligation or undertaking to update, review or revise any forward-looking statement contained in this release, whether as a result of new information, future developments or otherwise.