23 December 2022

Derco acquisition: completion before year end

following final regulatory approval

Inchcape plc ("Inchcape" or the "Company"), the leading independent multi-brand global automotive distributor, announces that, following the approval by its shareholders on 16 December for the proposed acquisition of Derco ("the Transaction") and receipt of merger control approval by the Peruvian authorities on 22 December, all conditions to the Transaction have been met.

Completion of the Transaction is now expected to take place before the end of the year.

Duncan Tait, Group Chief Executive, said:

"We are delighted to have received all required shareholder and merger control clearances to complete the acquisition of Derco. The combination with Derco is a transformative and unique opportunity to accelerate our global distribution business.

In addition to delivering substantial shareholder value, the acquisition will provide exciting opportunities for our colleagues, OEM partners, dealers and consumers, and is another great example of Inchcape's Accelerate strategy in action. We are looking forward to welcoming the Derco team into the Inchcape family."

Contacts

About Inchcape

Inchcape is the leading independent multi-brand global automotive distributor, operating in over 40 markets and territories with a portfolio of the world's leading automotive brands. Inchcape has diversified multi-channel revenue streams including sale of new and used vehicles, parts, service, finance and insurance. The Company has been listed on the London Stock Exchange (INCH) since 1958, and is classified within the 'Business Support Services' sector. The Group is headquartered in London and employs around 14,500 people globally.

www.inchcape.com.