Receipt of Unsolicited Proposal

26th Sep 2022

The Board of Pendragon announces that, on 21 September 2022, it received an unsolicited, preliminary and highly conditional proposal from Hedin Mobility Group AB (“Hedin Group”) regarding a possible cash offer for the entire issued and to be issued share capital of Pendragon at 29 pence per share (the “Proposal”).

The Board of Pendragon is currently considering the Proposal together with its financial and legal advisers. Shareholders are urged to take no action at this time.

There can be no certainty that any firm offer will be made, nor as to the terms on which any firm offer might be made. A further announcement will be made if and when appropriate.

The full receipt can be viewed and downloaded below.