AUTOCANADA ANNOUNCES STRATEGIC REVIEW OF COLLISION OPERATIONS

A Special Committee has been formed to evaluate strategic alternatives for the Company's Collision Operations, including, but not limited to, a potential separation and sale of all or part of the business.

• AutoCanada's Collision Operations segment operates under the ACX brand, with 26 OEM certifications covering 37 vehicle brands and significant opportunities for continued organic growth and acquisitions (the "Collision Operations").
• Management believes the value and growth potential of the Company's Collision Operations may not be fully reflected in AutoCanada's current public market valuation.

EDMONTON, AB, Sept. 29, 2026 /CNW/ -- AutoCanada Inc. ("AutoCanada" or the "Company") (TSX: ACQ), a leading Canadian multi-location automobile dealership and collision repair group, today announced that its Board of Directors is initiating a strategic review of the Company's Collision Operations (the "Strategic Review").

The Board has established a special committee of independent directors (the "Special Committee") to analyze and evaluate a range of strategic alternatives intended to maximize value for AutoCanada and its shareholders and to support the continued growth of its Collision Operations. These alternatives may include, but are not limited to, a separation of the business from AutoCanada, and a potential sale of all or part of the business.

The Board believes the value and growth potential of the Company's Collision Operations may not be fully reflected in AutoCanada's current public market valuation.

"AutoCanada's Collision Operations has reached a scale that provides a strong foundation for continued organic growth and acquisitions," said Samuel Cochrane, Chief Executive Officer of AutoCanada. "With a substantial pipeline of opportunities ahead, we are exploring how to best unlock embedded value for AutoCanada shareholders and position the Collision Operations to accelerate growth."

There can be no assurance that the Strategic Review will result in any transaction or specific outcome, nor can there be any assurance regarding the terms, structure or timing of any potential transaction. AutoCanada has not set a definitive timetable for the completion of the Strategic Review and does not intend to make further public announcements or disclosures regarding the process unless and until the Board of Directors approves a specific transaction, determines that the process has concluded, or otherwise determines that public disclosure is required under applicable securities laws.

About AutoCanada
AutoCanada's Dealership Operations segment operates 61 franchised dealerships in Canada, representing 23 automotive brands across eight provinces, as well as three independent used vehicle dealerships. In 2025, AutoCanada's Canadian dealerships sold approximately 71,000 new and used retail vehicles. AutoCanada's U.S. dealership portfolio is classified as discontinued operations as the Company progresses its sale.

AutoCanada's Collision Operations segment, operating under the ACX brand, operates 38 collision centres supported by 26 original equipment manufacturer certifications covering 37 vehicle brands. Collision Operations supports customer retention across multiple touchpoints in the automotive ownership lifecycle.

All dollar amounts in this press release are in Canadian dollars.

Forward-Looking Statements
Certain statements contained in this press release are forward-looking statements and information (collectively "forward-looking statements"), within the meaning of applicable Canadian securities legislation. We hereby provide cautionary statements identifying important factors that could cause actual results to differ materially from those projected in these forward-looking statements. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions, or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "will continue", "is anticipated", "projection", "vision", "goals", "objective", "target", "schedules", "outlook", "anticipate", "expect", "estimate", "could", "should", "plan", "seek", "may", "intend", "likely", "will", "believe", "shall" and similar expressions) are not all historical facts and are forward-looking and may involve estimates and assumptions and are subject to risks, uncertainties and other factors some of which are beyond our control and difficult to predict.

Forward-looking statements in this press release include, without limitation, statements regarding: the Strategic Review process, including the potential evaluation, outcome, terms, and timing of any strategic alternatives; the impact of the Strategic Review on AutoCanada and its shareholders; the growth potential, valuation, and ongoing operations of the Collision Operations; and the Company's expectations regarding public disclosure.

Forward-looking statements provide information about management's expectations and plans for the future and may not be appropriate for other purposes. Forward-looking statements are based on various assumptions, and expectations that AutoCanada believes are reasonable in the circumstances. No assurance can be given that these assumptions and expectations will prove correct. Those assumptions and expectations are based on information currently available to AutoCanada, including information obtained from third-party consultants and other third-party sources, and the historic performance of AutoCanada's businesses. AutoCanada cautions that the assumptions used to prepare such forward-looking statements could prove to be incorrect or inaccurate.

In preparing the forward-looking statements, AutoCanada considered numerous economic, market and operational assumptions, including key assumptions listed under Section 3 Market and Financial Outlook of the Company's Management's Discussion & Analysis for the three-month period and year ended December 31, 2025 (the "MD&A").

The forward-looking statements are also subject to known and unknown risks and uncertainties. These risks and uncertainties include, without limitation: the risk that the Strategic Review does not lead to a transaction or achieve its intended benefits; potential disruption to operations, key relationships, or management attention during the process; general market and economic conditions; compliance with laws and regulations; reduced customer demand; operational risks; force majeure; labour relations matters; our ability to access external sources of debt and equity capital; and the risks identified in (i) the MD&A under Section 12 Risk Factors and (ii) AutoCanada's most recent Annual Information Form (the "AIF"). The preceding list of assumptions, risks and uncertainties is not exhaustive.

Accordingly, these factors could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. Therefore, any such forward-looking statements are qualified in their entirety by reference to the factors discussed throughout this press release and in the MD&A.

Details of the Company's material forward-looking statements are included in the Company's most recent AIF. The AIF and other documents filed with securities regulatory authorities (accessible through the SEDAR+ website at www.sedarplus.ca) describe the risks, material assumptions, and other factors that could influence actual results and which are incorporated herein by reference.

When relying on our forward-looking statements to make decisions with respect to AutoCanada, investors and others should carefully consider the preceding factors, other uncertainties and potential events. Any forward-looking statements are provided as of the date of this press release and, except as required by law, AutoCanada does not undertake to update or revise such statements to reflect new information, subsequent or otherwise. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.

Additional Information
Additional information about AutoCanada is available at www.autocan.ca and on SEDAR+ at www.sedarplus.ca.

SOURCE AutoCanada Inc.

For Further Information Contact: Mike Woodward, Chief Financial Officer, Phone: [phone], Email: [email protected]