OPLN

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EXHIBIT 99.1 - EARNINGS RELEASE

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EXHIBIT 99.1

EARNINGS RELEASE

For Immediate Release

Analyst Inquiries:

Media Inquiries:

Bill Wright

Laurie Dippold

(317) 249-4559

(317) 468-3900

investor_relations@openlane.com

laurie.dippold@openlane.com

OPENLANE, Inc. Reports Second Quarter 2026 Financial Results

•Marketplace commercial vehicles sold growth of 39% YoY

•Marketplace dealer vehicles sold growth of 13% YoY, driven by 31% growth in US dealer vehicles sold

•Gross Merchandise Value (GMV) of approximately $10.5 billion, representing 41% YoY growth

•Revenue of $555 million, representing 15% YoY growth, driven by 21% growth in auction and related fees

•Net income of $44 million, representing 33% YoY growth

•Adjusted EBITDA of $103 million, representing 19% YoY growth

•Cash flow from operating activities of $53 million

Carmel, IN, August 4, 2026 — OPENLANE, Inc. (NYSE: OPLN), today reported its second quarter financial results for the period ended June 30, 2026.

"OPENLANE’s strong performance in the second quarter clearly demonstrates the powerful growth engine this company has built," said Peter Kelly, CEO of OPENLANE. "We grew consolidated revenue by 15%, delivered $103 million in Adjusted EBITDA, and increased marketplace GMV by 41% to $10.5 billion. Our commercial business is benefitting from the early stages of the off-lease inflection, and we grew US dealer volumes by over 30%, significantly outperforming the industry. I am pleased to raise OPENLANE’s 2026 consolidated Adjusted EBITDA guidance and confident in our ability to continue accelerating this positive momentum."

"OPENLANE remains well positioned in the market, and we are executing a strategy that is delivering results across the company," said Brad Herring, EVP and CFO of OPENLANE. "AFC continued to fuel the marketplace and contributed $46 million in Adjusted EBITDA. Our technology teams are releasing innovative features and new revenue-generating products and services. And as our 2025 go-to-market investments ramp towards full capacity, we are leaning into additional investments in 2026 based on that success."

2026 Guidance

The company is updating its annual guidance to the following:

Previous Guidance (May 5, 2026)Revised Guidance (August 4, 2026)

Net income (in millions)

$147 - $164 $163 - $176

Adjusted EBITDA (in millions)

$365 - $385 $385 - $400

Net income per share - diluted *

$1.09 - $1.23 $1.23 - $1.33

Operating Adjusted EPS

$1.28 - $1.42 $1.40 - $1.50

* The company uses the two-class method of calculating net income per diluted share. Under the two-class method, net income is adjusted for dividends and undistributed earnings (losses) to the holders of the Series A Preferred Stock (based on the weighted average number of participating securities outstanding during the period). The weighted average diluted shares used in the net income per diluted share calculation reflect the additional common shares resulting from the conversion of the remaining preferred shares into shares of common stock, weighted from the dates of conversion. Previous guidance assumed conversion in June 2026; revised guidance reflects the actual conversion in May 2026.

Earnings guidance does not contemplate future items such as business development activities, strategic developments (such as restructurings, spin-offs or dispositions of assets or investments), contingent purchase price adjustments, significant expenses related to litigation, tax adjustments, adverse changes in the value of foreign currencies relative to the U.S. dollar, changes in applicable laws and regulations (including significant accounting, tax and trade matters) and intangible impairments. The timing and amounts of these items are highly variable, difficult to predict, and of a potential size that could have a substantial impact on the company’s reported results for any given period. See reconciliations of the company's guidance included below.

Earnings Conference Call Information

OPENLANE will be hosting an earnings conference call and webcast on Tuesday, August 4, 2026 at 8:30 a.m. ET. The conference call may be accessed by calling 1-833-634-2155 and asking to join the OPENLANE call. A live webcast will be available at the investor relations section of corporate.openlane.com. Supplemental financial information for OPENLANE’s second quarter 2026 results is available at the investor relations section of corporate.openlane.com.

The archive of the webcast will be available following the call at the investor relations section of corporate.openlane.com for a limited time.

About OPENLANE

OPENLANE, Inc. (NYSE: OPLN) makes wholesale easy by connecting the leading automotive manufacturers, dealers, rental companies, fleet operators, captive finance and lending institutions as buyers and sellers to create the most advanced digital marketplace for used vehicles. Our innovative products and services deliver a fast, fair an

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EXHIBIT 99.1 - EARNINGS RELEASE

Document

EXHIBIT 99.1

EARNINGS RELEASE

For Immediate Release

Analyst Inquiries:

Media Inquiries:

Bill Wright

Laurie Dippold

(317) 249-4559

(317) 468-3900

investor_relations@openlane.com

laurie.dippold@openlane.com

OPENLANE, Inc. Reports First Quarter 2026 Financial Results

•Marketplace commercial vehicles sold growth of 25% YoY

•Marketplace dealer vehicles sold growth of 13% YoY

•Gross Merchandise Value (GMV) of approximately $9.1 billion, representing 32% YoY growth

•Revenue of $528 million, representing 15% YoY growth, driven by 22% growth in auction and related fees

•Net income of $49 million, representing 33% YoY growth

•Adjusted EBITDA of $97 million, representing 17% YoY growth

•Cash flow from operating activities of $160 million, representing 30% YoY growth

Carmel, IN, May 5, 2026 — OPENLANE, Inc. (NYSE: OPLN), today reported its first quarter financial results for the period ended March 31, 2026.

"OPENLANE started 2026 strong, growing consolidated revenue by 15%, delivering $97 million in Adjusted EBITDA and generating $160 million in cash flow from operations," said Peter Kelly, CEO of OPENLANE. "These results were led by strong performance in the Marketplace business where we grew vehicles sold by 19% including US dealer-to-dealer volume growth in the upper 20% range and solid commercial volume growth throughout the quarter. Our strategy and execution are delivering results, and it is clear that OPENLANE’s unique inventory, technology advantage and superior customer experience are capturing market share, expanding our network, and accelerating growth."

"OPENLANE’s first quarter performance is compelling evidence to the scalability of our business model and the differentiated value OPENLANE provides in the market," said Brad Herring, CFO of OPENLANE. "Our US dealer business continued to accelerate, our finance business responsibly balanced growth and risk, and we are still in the infancy stages of the off-lease volume return. And while no industry is immune to macroeconomic or geopolitical impacts, we remain confident in our ability to execute our plan and deliver on our increased full year guidance."

2026 Guidance

The company is updating its annual guidance to the following:

Previous Guidance

(February 18, 2026)

Revised Guidance

(May 5, 2026)

Net income (in millions) $130 - $147 $147 - $164

Adjusted EBITDA (in millions) $350 - $370 $365 - $385

Net income per share - diluted *$0.95 - $1.09

$1.09 - $1.23

Operating Adjusted EPS $1.24 - $1.38 $1.28 - $1.42

* The company uses the two-class method of calculating net income per diluted share. Under the two-class method, net income is adjusted for dividends (including deemed dividends) and undistributed earnings (losses) to the holders of the Series A Preferred Stock. The weighted average diluted shares used in the net income per diluted share calculation assumes conversion of the remaining preferred shares to common shares in June 2026.

Earnings guidance does not contemplate future items such as business development activities, strategic developments (such as restructurings, spin-offs or dispositions of assets or investments), contingent purchase price adjustments, significant expenses related to litigation, tax adjustments, adverse changes in the value of foreign currencies relative to the U.S. dollar, changes in applicable laws and regulations (including significant accounting, tax and trade matters) and intangible impairments. The timing and amounts of these items are highly variable, difficult to predict, and of a potential size that could have a substantial impact on the company’s reported results for any given period. See reconciliations of the company's guidance included below.

Earnings Conference Call Information

OPENLANE will be hosting an earnings conference call and webcast on Tuesday, May 5, 2026 at 8:30 a.m. ET. The conference call may be accessed by calling 1-833-634-2155 and asking to join the OPENLANE call. A live webcast will be available at the investor relations section of corporate.openlane.com. Supplemental financial information for OPENLANE’s first quarter 2026 results is available at the investor relations section of corporate.openlane.com.

The archive of the webcast will be available following the call at the investor relations section of corporate.openlane.com for a limited time.

About OPENLANE

OPENLANE, Inc. (NYSE: OPLN) makes wholesale easy by connecting the leading automotive manufacturers, dealers, rental companies, fleet operators, captive finance and lending institutions as buyers and sellers to create the most advanced digital marketplace for used vehicles. Our innovative products and services deliver a fast, fair and transparent experience that helps customers make smarter decisions and achieve better outcomes. Headquartered in Carmel, Indiana, OPENLANE has employees across the United States, Canada, Europe,

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EXHIBIT 99.1 - EARNINGS RELEASE

Document

EXHIBIT 99.1

EARNINGS RELEASE

For Immediate Release

Analyst Inquiries:

Media Inquiries:

Bill Wright

Laurie Dippold

(317) 249-4559

(317) 468-3900

investor_relations@openlane.com

laurie.dippold@openlane.com

OPENLANE, Inc. Reports 2025 Financial Results

Fourth Quarter Highlights

•Marketplace dealer volume growth of 9% YoY

•Gross Merchandise Value (GMV) of approximately $7.1 billion, representing 8% YoY growth

•Revenue of $494 million, representing 9% YoY growth, driven by 12% growth in auction and related fees

•Income from continuing operations of $60 million, representing 14% YoY growth

•Adjusted EBITDA of $76 million, representing 5% YoY growth

•Cash flow from operating activities of $126 million

Full Year Highlights

•Marketplace dealer volume growth of 15% YoY

•GMV of approximately $29 billion, representing 6% YoY growth

•Revenue of $1,935 million, representing 8% YoY growth, driven by 13% growth in auction and related fees

•Income from continuing operations of $178 million, representing 62% YoY growth

•Adjusted EBITDA of $333 million, representing 13% YoY growth

•Cash flow from operating activities of $392 million, representing 34% YoY growth

Carmel, IN, February 18, 2026 — OPENLANE, Inc. (NYSE: OPLN), today reported its fourth quarter and annual financial results for the period ended December 31, 2025.

"OPENLANE’s strong fourth quarter and full-year 2025 results are compelling proof points to the strength of our strategy and our ability to execute with precision," said Peter Kelly, CEO of OPENLANE. "On a full-year basis, OPENLANE sold nearly 1.5 million vehicles and generated $1.9 billion in total revenue, $333 million in Adjusted EBITDA, and $392 million in cash flow from operations. This was driven by particularly strong performance in our dealer-to-dealer business which, despite a challenging fourth quarter macro environment in Canada, continued to accelerate in the U.S., outpacing the industry and taking share. OPENLANE begins 2026 with positive momentum and remains well positioned to capture the opportunities from the industry’s continued migration toward digital and the inflection of off-lease volumes beginning in the first quarter of 2026."

"OPENLANE’s performance in 2025 further reinforces the strength and scalability of OPENLANE’s digital operating model," said Brad Herring, EVP and CFO of OPENLANE. "The investments we’ve made in people, technology and the OPENLANE brand are further differentiating us in the market, and compounding our growth. And our results, coupled with our positive outlook for 2026, fuel our confidence in OPENLANE’s ability to deliver long-term growth and shareholder value."

2026 Guidance

Annual Guidance

Net income (in millions)

$130 - $147

Adjusted EBITDA (in millions)

$350 - $370

Net income per share - diluted *

$0.95 - $1.09

Operating Adjusted EPS

$1.24 - $1.38

* The company uses the two-class method of calculating net income per diluted share. Under the two-class method, net income is adjusted for dividends (including deemed dividends) and undistributed earnings (losses) to the holders of the Series A Preferred Stock. The weighted average diluted shares used in the net income per diluted share calculation assumes conversion of the remaining preferred shares to common shares in June 2026.

Earnings guidance does not contemplate future items such as business development activities, strategic developments (such as restructurings, spin-offs or dispositions of assets or investments), contingent purchase price adjustments, significant expenses related to litigation, tax adjustments, adverse changes in the value of foreign currencies relative to the U.S. dollar, changes in applicable laws and regulations (including significant accounting, tax and trade matters) and intangible impairments. The timing and amounts of these items are highly variable, difficult to predict, and of a potential size that could have a substantial impact on the company’s reported results for any given period. See reconciliations of the company's guidance included below.

Earnings Conference Call Information

OPENLANE will be hosting an earnings conference call and webcast on Wednesday, February 18, 2026 at 8:30 a.m. ET. The conference call may be accessed by calling 1-833-634-2155 and asking to join the OPENLANE call. A live webcast will be available at the investor relations section of corporate.openlane.com. Supplemental financial information for OPENLANE’s fourth quarter and annual 2025 results is available at the investor relations section of corporate.openlane.com.

The archive of the webcast will be available following the call at the investor relations section of corporate.openlane.com for a limited time.

Investor Day

As previously announced, OPENLANE will host its in-person Investor Day on Tuesday, March 3, 2026, in Fort Lauderdale, Florida. During the event, members of OPE

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EXHIBIT 99.1 - EARNINGS RELEASE

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EXHIBIT 99.1

EARNINGS RELEASE

For Immediate Release

Analyst Inquiries:

Media Inquiries:

Bill Wright

Laurie Dippold

(317) 249-4559

(317) 468-3900

investor_relations@openlane.com

laurie.dippold@openlane.com

OPENLANE, Inc. Reports Third Quarter 2025 Financial Results

•Marketplace dealer volume growth of 14% YoY

•Gross Merchandise Value (GMV) of approximately $7.3 billion, representing 9% YoY growth

•Revenue of $498 million, representing 8% YoY growth, driven by 20% growth in auction fee revenue

•Income from continuing operations of $48 million, representing 69% YoY growth

•Adjusted EBITDA of $87 million, representing 17% YoY growth

•Cash flow from operating activities of $72 million

•Raised full year guidance for Adjusted EBITDA and Operating Adjusted EPS

Carmel, IN, November 5, 2025 — OPENLANE, Inc. (NYSE: KAR), today reported its third quarter financial results for the period ended September 30, 2025.

"OPENLANE’s strategy — and the investments we’ve made to accelerate it — produced another strong quarter of organic growth and profitability, including 8% consolidated revenue growth and $87 million in Adjusted EBITDA," said Peter Kelly, CEO of OPENLANE. "We grew dealer-to-dealer volumes by 14%, significantly outpacing the industry, gaining market share and evidencing the strength and growing preference of the OPENLANE brand. We are executing our growth strategy with precision, and remain well positioned for the inflection of off-lease vehicles in 2026 and beyond."

"OPENLANE’s third quarter results further reinforce the strong scalability characteristics of OPENLANE’s asset-light, digital operating model," said Brad Herring, EVP and CFO of OPENLANE. "We are leaning into investments that will build on our positive momentum and position OPENLANE to deliver long-term shareholder value. Our confidence in OPENLANE’s strategy and positioning, coupled with our strong year-to-date results, support our raise in 2025 guidance."

2025 Guidance

The company is updating its annual guidance to the following:

Previous Guidance

(August 6, 2025) Revised Guidance (November 5, 2025)

Income from continuing operations (in millions) $132 - $140 $139 - $144

Adjusted EBITDA (in millions) $310 - $320 $328 - $333

Income (loss) from continuing operations per share - diluted * $0.61 - $0.66 $(1.32) - $(1.28)

Operating Adjusted EPS $1.12 - $1.17 $1.22 - $1.26

* The company uses the two-class method of calculating income (loss) from continuing operations per diluted share. Under the two-class method, income from continuing operations is adjusted for dividends (including deemed dividends), and undistributed earnings (losses) to the holders of the Series A Preferred Stock, and the weighted average diluted shares do not assume conversion of the preferred shares to common shares. The Series A Preferred Stock repurchases in the fourth quarter of 2025 are expected to result in a deemed dividend, representing the excess of the consideration paid over the carrying amount of the Series A Preferred Stock repurchased. The deemed dividend is expected to exceed income from continuing operations and result in a loss from continuing operations available to common stockholders when calculating income (loss) from continuing operations per diluted share.

Earnings guidance does not contemplate future items such as business development activities, strategic developments (such as restructurings, spin-offs or dispositions of assets or investments), contingent purchase price adjustments, significant expenses related to litigation, tax adjustments, adverse changes in the value of foreign currencies relative to the U.S. dollar, changes in applicable laws and regulations (including significant accounting, tax and trade matters) and intangible impairments. The timing and amounts of these items are highly variable, difficult to predict, and of a potential size that could have a substantial impact on the company’s reported results for any given period. See reconciliations of the company's guidance included below.

Earnings Conference Call Information

OPENLANE will be hosting an earnings conference call and webcast on Wednesday, November 5, 2025 at 8:30 a.m. ET. The conference call may be accessed by calling 1-833-634-2155 and asking to join the OPENLANE call. A live webcast will be available at the investor relations section of corporate.openlane.com. Supplemental financial information for OPENLANE’s third quarter 2025 results is available at the investor relations section of corporate.openlane.com.

The archive of the webcast will be available following the call at the investor relations section of corporate.openlane.com for a limited time.

About OPENLANE

OPENLANE, Inc. (NYSE: KAR) makes wholesale easy by connecting the leading automotive manufacturers, dealers, rental companies, fleet operators, captive finance and lending institutions as buyers and s

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EXHIBIT 99.1 - EARNINGS RELEASE

Document

EXHIBIT 99.1

EARNINGS RELEASE

For Immediate Release

Analyst Inquiries:                                                     Media Inquiries:

Itunu Orelaru                                                         Laurie Dippold

(317) 249-4559                                                           (317) 468-3900

investor_relations@openlane.com                    laurie.dippold@openlane.com

OPENLANE, Inc. Reports Second Quarter 2025 Financial Results

•Marketplace dealer volume growth of 21% YoY

•Gross Merchandise Value (GMV) of approximately $7.5 billion, representing 10% YoY growth

•Revenue of $482 million, representing 9% YoY growth, driven by 24% growth in auction fee revenue

•Income from continuing operations of $33 million, representing 212% YoY growth

•Adjusted EBITDA of $87 million, representing 21% YoY growth

•Cash flow from operating activities of $72 million, representing 91% YoY growth

•Adjusted Free Cash Flow of $87 million, representing 34% YoY growth

•Raised full year guidance for Adjusted EBITDA and Operating Adjusted EPS

Carmel, IN, August 6, 2025 — OPENLANE, Inc. (NYSE: KAR), today reported its second quarter financial results for the period ended June 30, 2025.

"OPENLANE delivered a very strong second quarter, growing auction fee revenue by 24%, delivering $87 million in Adjusted EBITDA and generating $87 million in Adjusted Free Cash Flow," said Peter Kelly, CEO of OPENLANE. "The growing strength, presence and preference of the OPENLANE brand was evidenced by 21% dealer volume growth, double-digit increases in unique buying and selling dealers and dealer market share gains achieved during the quarter. Looking ahead, we remain well positioned to benefit from the ongoing industry transition from physical to digital and the anticipated increase in off-lease supply beginning in 2026."

"OPENLANE is successfully executing our 2025 plan and longer-term strategy," said Brad Herring, CFO of OPENLANE. "Our second quarter results further reinforce the strong scalability characteristics of our asset-light, digital operating model, and I am very pleased that the marketplace segment now represents 51% of our consolidated Adjusted EBITDA. I believe our performance and the investments we continue to make in people, technology and our go-to-market approach help position us to deliver sustained growth, profitability and shareholder value."

2025 Guidance

The company is updating its annual guidance to the following:

Previous Guidance

(February 19, 2025) Revised Guidance (August 6, 2025)

Income from continuing operations (in millions) $100 - $114$132 - $140

Adjusted EBITDA (in millions) $290 - $310$310 - $320

Income from continuing operations per share - diluted *$0.38 - $0.48$0.61 - $0.66

Operating Adjusted EPS $0.90 - $1.00$1.12 - $1.17

* The company uses the two-class method of calculating income from continuing operations per diluted share. Under the two-class method, income from continuing operations is adjusted for dividends and undistributed earnings (losses) to the holders of the Series A Preferred Stock, and the weighted average diluted shares do not assume conversion of the preferred shares to common shares.

Earnings guidance does not contemplate future items such as business development activities, strategic developments (such as restructurings, spin-offs or dispositions of assets or investments), contingent purchase price adjustments, significant expenses related to litigation, tax adjustments, adverse changes in the value of foreign currencies relative to the U.S. dollar, changes in applicable laws and regulations (including significant accounting, tax and trade matters) and intangible impairments. The timing and amounts of these items are highly variable, difficult to predict, and of a potential size that could have a substantial impact on the company’s reported results for any given period. See reconciliations of the company's guidance included below.

Earnings Conference Call Information

OPENLANE will be hosting an earnings conference call and webcast on Wednesday, August 6, 2025 at 8:30 a.m. ET. The conference call may be accessed by calling 1-833-634-2155 and asking to join the OPENLANE call. A live webcast will be available at the investor relations section of corporate.openlane.com. Supplemental financial information for OPENLANE’s second quarter 2025 results is available at the investor relations section of corporate.openlane.com.

The archive of the webcast will be available following the call at the investor relations section of corporate.openlane.com for a limited time.

About OPENLANE

OPENLANE, Inc. (NYSE: KAR), provides sellers and buyers across the global wholesale used vehicle industry with innovative, technology-driven remarketing solutions. OPENLANE's unique end-to-end platform supports whole car, financing, logistics and other ancillary and r

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EXHIBIT 99.1 - EARNINGS RELEASE

Document

EXHIBIT 99.1

EARNINGS RELEASE

For Immediate Release

Analyst Inquiries:                                                     Media Inquiries:

Jared Harnish                                                         Laurie Dippold

(317) 249-4559                                                           (317) 468-3900

investor_relations@openlane.com                    laurie.dippold@openlane.com

OPENLANE, Inc. Reports First Quarter 2025 Financial Results

•Marketplace dealer volume growth of 15% YoY

•Revenue of $460 million, representing 7% YoY growth, driven by 10% YoY Marketplace growth

•Income from continuing operations of $37 million, representing 99% YoY growth

•Adjusted EBITDA of $83 million, representing 11% YoY growth

•Cash flow from operating activities of $123 million, representing 22% YoY growth

•Authorized new $250 million share repurchase program

Carmel, IN, May 7, 2025 — OPENLANE, Inc. (NYSE: KAR), today reported its first quarter financial results for the period ended March 31, 2025.

"OPENLANE delivered a strong start to 2025, building on our positive momentum and delivering record performance in many areas, particularly within the marketplace business," said Peter Kelly, CEO of OPENLANE. "We grew revenue by 7%, delivered $83 million in Adjusted EBITDA and generated $123 million in cash flow from operations. It is clear that the OPENLANE brand is becoming more differentiated and valued in the eyes of our growing customer base, and I remain confident about OPENLANE’s positioning for long-term growth."

"Looking ahead, there are still many questions and unknowns relating to tariffs and their potential impact on the industry. We are operating with discipline, considering all potential scenarios and actively communicating with our customers. Given the asset-light, strong cash generation and resilient characteristics of our business, all evidenced in our Q1 performance, I believe OPENLANE is better positioned than ever to adapt, react and successfully navigate the environment."

2025 Guidance

The company is maintaining its previously stated annual guidance.

Annual

Guidance

Income from continuing operations (in millions) $100 - $114

Adjusted EBITDA (in millions) $290 - $310

Income from continuing operations per share - diluted *$0.38 - $0.48

Operating adjusted net income from continuing operations per share - diluted$0.90 - $1.00

* The company uses the two-class method of calculating income from continuing operations per diluted share. Under the two-class method, income from continuing operations is adjusted for dividends and undistributed earnings (losses) to the holders of the Series A Preferred Stock, and the weighted average diluted shares do not assume conversion of the preferred shares to common shares.

The December 2024 divestiture of the company's automotive key business is reflected in the 2025 guidance.

Earnings guidance does not contemplate future items such as business development activities, strategic developments (such as restructurings, spin-offs or dispositions of assets or investments), contingent purchase price adjustments, significant expenses related to litigation, tax adjustments, adverse changes in the value of foreign currencies relative to the U.S. dollar, changes in applicable laws and regulations (including significant accounting,

tax and trade matters) and intangible impairments. The timing and amounts of these items are highly variable, difficult to predict, and of a potential size that could have a substantial impact on the company’s reported results for any given period. Prospective quantification of these items is generally not practicable. Operating adjusted net income from continuing operations per share excludes amortization expense associated with acquired intangible assets, as well as one-time charges, net of taxes. See reconciliations of the company's guidance included below.

Share Repurchase Authorization

The board of directors approved a new share repurchase authorization of up to $250 million of the Company’s outstanding common stock through December 31, 2026. This share repurchase program replaces the prior program which had approximately $100 million remaining through December 31, 2025.

Earnings Conference Call Information

OPENLANE will be hosting an earnings conference call and webcast on Wednesday, May 7, 2025 at 5:00 p.m. ET. The conference call may be accessed by calling 1-833-634-2155 and asking to join the OPENLANE call. A live webcast will be available at the investor relations section of corporate.openlane.com. Supplemental financial information for OPENLANE’s first quarter 2025 results is available at the investor relations section of corporate.openlane.com.

The archive of the webcast will be available following the call at the investor relations section of corporate.openlane.com for a limited time.

About OPENLANE

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EXHIBIT 99.1 - EARNINGS RELEASE

Document

EXHIBIT 99.1

EARNINGS RELEASE

For Immediate Release

Analyst Inquiries:                                                     Media Inquiries:

Itunu Orelaru                                                          Laurie Dippold

(317) 249-4559                                                           (317) 468-3900

investor_relations@openlane.com                    laurie.dippold@openlane.com

OPENLANE, Inc. Reports 2024 Financial Results

Carmel, IN, February 19, 2025 — OPENLANE, Inc. (NYSE: KAR), today reported its fourth quarter and annual financial results for the period ended December 31, 2024.

"OPENLANE delivered positive fourth quarter and full-year 2024 results, driven by another strong quarter in our marketplace business," said Peter Kelly, CEO. "The Marketplace grew year-over-year volume for the seventh straight quarter, including 15% growth in dealer volumes, and grew Adjusted EBITDA by an impressive 30%. Our customers are clearly responding to our unique offerings and our differentiated value proposition that delivers ease, speed and improved outcomes. We remain focused on our strategy – delivering the best marketplace, technology and customer experience, and are well positioned for continued growth."

"OPENLANE’s consistent growth and financial performance clearly demonstrate the strong scalability characteristics of our asset-light, digital model," said Brad Lakhia, Chief Financial Officer. "Our culture of innovation, growth and financial discipline increased revenue, reduced cost and delivered $293 million in Adjusted EBITDA. We will continue to lean into our marketplace go-to-market investments to drive growth while leveraging our leading, high-performing finance business."

Fourth Quarter Highlights

•Marketplace total volume YoY growth of 9%, with dealer YoY growth of 15%

•Consolidated revenue of $455 million, representing 12% YoY growth, driven by 18% YoY Marketplace growth

•Consolidated income from continuing operations of $52 million, with Marketplace contributing $26 million

•Consolidated Adjusted EBITDA of $73 million, representing 18% YoY growth

•Marketplace Adjusted EBITDA of $31 million, representing 30% YoY growth

Full Year Highlights

•Marketplace total volume YoY growth of 9%

•Consolidated revenue of $1,789 million, representing 5% YoY growth, driven by 8% YoY Marketplace growth

•Consolidated income from continuing operations of $110 million, with Marketplace contributing $2 million

•Consolidated Adjusted EBITDA of $293 million, representing 8% YoY growth

•Cash flow from operating activities of $293 million

•Marketplace Adjusted EBITDA of $135 million, representing 24% YoY growth

•Gross Merchandise Value (GMV) of approximately $27 billion, representing 12% YoY growth

2025 Guidance

Annual

Guidance

Income from continuing operations (in millions) $100 - $114

Adjusted EBITDA (in millions) $290 - $310

Income from continuing operations per share - diluted *$0.38 - $0.48

Operating adjusted net income from continuing operations per share - diluted$0.90 - $1.00

* The company uses the two-class method of calculating income from continuing operations per diluted share. Under the two-class method, income from continuing operations is adjusted for dividends and undistributed earnings (losses) to the holders of the Series A Preferred Stock, and the weighted average diluted shares do not assume conversion of the preferred shares to common shares.

The December 2024 divestiture of the company's automotive key business is reflected in the 2025 guidance.

Earnings guidance does not contemplate future items such as business development activities, strategic developments (such as restructurings, spin-offs or dispositions of assets or investments), contingent purchase price adjustments, significant expenses related to litigation, tax adjustments, adverse changes in the value of foreign currencies relative to the U.S. dollar, changes in applicable laws and regulations (including significant accounting and tax matters) and intangible impairments. The timing and amounts of these items are highly variable, difficult to predict, and of a potential size that could have a substantial impact on the company’s reported results for any given period. Prospective quantification of these items is generally not practicable. Operating adjusted net income from continuing operations per share excludes amortization expense associated with acquired intangible assets, as well as one-time charges, net of taxes. See reconciliations of the company's guidance included below.

Earnings Conference Call Information

OPENLANE will be hosting an earnings conference call and webcast on Wednesday, February 19, 2025 at 5:00 p.m. ET. The call will be hosted by OPENLANE Chief Executive Officer Peter Kelly and Chief Financial Officer Brad Lakhia. The conference call may be accessed by calling 1-833-634-

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EXHIBIT 99.1

EARNINGS RELEASE

For Immediate Release

Analyst Inquiries:                                                     Media Inquiries:

Itunu Orelaru                                                          Laurie Dippold

(317) 249-4559                                                           (317) 468-3900

investor_relations@openlane.com                    laurie.dippold@openlane.com

OPENLANE, Inc. Reports Third Quarter 2024 Financial Results

Carmel, IN, November 6, 2024 — OPENLANE, Inc. (NYSE: KAR), today reported its third quarter financial results for the period ended September 30, 2024.

"OPENLANE delivered strong third quarter results while advancing a differentiated pipeline of innovation and expanding our investments in people, technology and the customer experience," said Peter Kelly, CEO of OPENLANE. "I’m particularly pleased with the performance of our marketplace business, which grew volumes, gross profit and adjusted EBITDA with positive contributions from our US, Canadian and European marketplaces."

"OPENLANE extended its track record of strong financial and operational performance in the third quarter" said Brad Lakhia, EVP and CFO of OPENLANE. "On a consolidated basis, we delivered revenue of $448 million driven by 6% volume growth, income from continuing operations of $28 million, adjusted EBITDA of $75 million, and year-to-date cash flow from operating activities of $260 million. Our marketplace segment also demonstrated continued resiliency and profitability, with significant adjusted EBITDA growth while increasing our Gross Merchandise Value by 12% to nearly $7 billion."

Third Quarter 2024 Financial Highlights

•Total revenue of $448 million in Q3 2024, representing 8% YoY growth

•Consolidated income from continuing operations of $28 million, with Marketplace contributing $5 million

•Consolidated adjusted EBITDA of $75 million in Q3 2024, representing 10% YoY growth

•$260 million of cash flow from operating activities on a year-to-date basis

•Marketplace revenue of $354 million in Q3 2024, representing 12% YoY growth

•Marketplace adjusted EBITDA of $36 million, representing 34% YoY growth

•Marketplace volumes increased 6% YoY

•Gross Merchandise Value (GMV) of approximately $7 billion, representing 12% YoY growth

2024 Guidance

The company is updating its annual guidance to the following:

Annual

Guidance

Income from continuing operations (in millions)

$73 - $81

Adjusted EBITDA (in millions)

$285 - $295

Income from continuing operations per share - diluted *

$0.21 - $0.27

Operating adjusted net income from continuing operations per share - diluted

$0.81 - $0.87

* The company uses the two-class method of calculating income from continuing operations per diluted share. Under the two-class method, income from continuing operations is adjusted for dividends and undistributed earnings (losses) to the holders of the Series A Preferred Stock, and the weighted average diluted shares do not assume conversion of the preferred shares to common shares.

Earnings guidance does not contemplate future items such as business development activities, strategic developments (such as restructurings, spin-offs or dispositions of assets or investments), contingent purchase price adjustments, significant expenses related to litigation, tax adjustments and changes in applicable laws and regulations (including significant accounting and tax matters) and intangible impairments. The timing and amounts of these items are highly variable, difficult to predict, and of a potential size that could have a substantial impact on the company’s reported results for any given period. Prospective quantification of these items is generally not practicable. Operating adjusted net income from continuing operations per share excludes amortization expense associated with acquired intangible assets, as well as one-time charges, net of taxes. See reconciliations of the company's guidance included below.

Share Repurchase Authorization

The board of directors authorized an increase in the size of the company’s share repurchase program by approximately $5 million and an extension of the share repurchase program through December 31, 2025. With the increase, and giving effect to the company’s previous repurchases, approximately $100 million remains available for repurchases under the share repurchase program.

Earnings Conference Call Information

OPENLANE will be hosting an earnings conference call and webcast on Wednesday, November 6, 2024 at 5:00 p.m. ET. The call will be hosted by OPENLANE Chief Executive Officer Peter Kelly and Chief Financial Officer Brad Lakhia. The conference call may be accessed by calling 1-833-634-2155 and asking to join the OPENLANE call. A live webcast will be available at the investor relations section of corporate.openlane.com. Supplemental financial information for

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EXHIBIT 99.1

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For Immediate Release

Analyst Inquiries:                                                     Media Inquiries:

Itunu Orelaru                                                          Laurie Dippold

(317) 249-4559                                                           (317) 468-3900

investor_relations@openlane.com                    laurie.dippold@openlane.com

OPENLANE, Inc. Reports Second Quarter 2024 Financial Results

Carmel, IN, August 7, 2024 — OPENLANE, Inc. (NYSE: KAR), today reported its second quarter financial results for the period ended June 30, 2024.

"OPENLANE’s second quarter and year-to-date results clearly demonstrate the power of our differentiated platform and the strong scalability characteristics of our company," said Peter Kelly, CEO of OPENLANE. "During the quarter, we grew marketplace and finance volumes, increased revenue and delivered strong adjusted EBITDA and operating cash flows. I am confident in OPENLANE’s strategy, we are investing in technology and people to further accelerate innovation and profitable growth."

"OPENLANE’s continued focus on execution and profitable growth delivered solid financial results in the second quarter," said Brad Lakhia, EVP and CFO of OPENLANE. "Consolidated revenue was $432 million, marketplace segment grew volumes by 7% and increased Gross Merchandise Value to nearly $7 billion. AFC was again a strong adjusted EBITDA contributor, and we improved our provision for loan losses versus the first quarter. Our year-to-date generation of $138 million of cash flow from operating activities clearly demonstrates the value — and potential — of our asset-light, digitally focused business."

Second Quarter 2024 Financial Highlights

•Marketplace volumes increased 7% YoY

•Total revenue of $432 million in Q2 2024, representing 4% YoY growth

•Marketplace revenue of $336 million in Q2 2024, representing 5% YoY growth

•Gross Merchandise Value (GMV) of approximately $7 billion, representing 6% YoY growth

•Income from continuing operations of $11 million

•Adjusted EBITDA of $71 million (with Marketplace contributing 46%), including the $2 million year-to-date impact for the newly enacted Canadian Digital Services Tax

•$138 million of cash flow from operating activities on a year-to-date basis

2024 Guidance

As a result of Canada’s abrupt implementation of a retroactive Digital Services Tax (DST), which was enacted on June 28, 2024 retroactive to January 1, 2022, the company has updated its 2024 annual guidance. During the second quarter of 2024, the company recorded $12 million of Canadian DST, of which $10 million related to 2022 and 2023. Assuming no changes to this legislation, including the scope of application, the company estimates this will result in approximately $5 million in incremental cost of services in 2024. The company anticipates taking steps to mitigate this incremental annual cost and therefore does not anticipate a material impact on future periods earnings and cash flows.

Annual

Guidance

Income from continuing operations (in millions)

$65 - $80

Adjusted EBITDA (in millions)

$285 - $305

Income from continuing operations per share - diluted *

$0.14 - $0.24

Operating adjusted net income from continuing operations per share - diluted

$0.77 - $0.87

* The company uses the two-class method of calculating income from continuing operations per diluted share. Under the two-class method, income from continuing operations is adjusted for dividends and undistributed earnings (losses) to the holders of the Series A Preferred Stock, and the weighted average diluted shares do not assume conversion of the preferred shares to common shares.

Earnings guidance does not contemplate future items such as business development activities, strategic developments (such as restructurings, spin-offs or dispositions of assets or investments), contingent purchase price adjustments, significant expenses related to litigation, tax adjustments and changes in applicable laws and regulations (including significant accounting and tax matters) and intangible impairments. The timing and amounts of these items are highly variable, difficult to predict, and of a potential size that could have a substantial impact on the company’s reported results for any given period. Prospective quantification of these items is generally not practicable. Operating adjusted net income from continuing operations per share excludes amortization expense associated with acquired intangible assets, as well as one-time charges, net of taxes. See reconciliations of the company's guidance included below.

Earnings Conference Call Information

OPENLANE will be hosting an earnings conference call and webcast on Wednesday, August 7, 2024 at 5:00 p.m. ET. The call will be hosted by OPENLANE Chief Executive Officer Peter Kelly and Chief Financial Offic

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EXHIBIT 99.1

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For Immediate Release

Analyst Inquiries:                                                     Media Inquiries:

Mike Eliason                                                          Laurie Dippold

(317) 249-4559                                                           (317) 468-3900

mike.eliason@openlane.com                     laurie.dippold@openlane.com

OPENLANE, Inc. Reports First Quarter 2024 Financial Results

Carmel, IN, May 1, 2024 — OPENLANE, Inc. (NYSE: KAR), today reported its first quarter financial results for the period ended March 31, 2024.

"I am very pleased with OPENLANE’s first quarter results and believe they represent a compelling preview of the performance OPENLANE is capable of delivering as the industry recovery continues" said Peter Kelly, CEO of OPENLANE. "The marketplace segment grew volumes by 13%, delivered 47% of total OPENLANE adjusted EBITDA and continued to take share from physical auctions. Our finance segment was also a strong contributor during the quarter. And as I look to the future, we are advancing a robust pipeline of innovation that will further differentiate our offerings and strengthen our ability to deliver continued growth and improved financial performance."

First Quarter 2024 Financial Highlights

•Marketplace volumes increased 13% YoY

•Gross Merchandise Value (GMV) increased 17% to $7 billion YoY

•Income from continuing operations of $19 million

•Adjusted EBITDA of $75 million, with Marketplace accelerating to 47% of total

•$100 million of cash flow from operating activities

2024 Guidance

The company’s previously stated annual guidance remains unchanged.

Annual

Guidance

Income from continuing operations (in millions) $74 - $88

Adjusted EBITDA (in millions) $285 - $305

Income from continuing operations per share - diluted *$0.20 - $0.30

Operating adjusted net income from continuing operations per share - diluted$0.77 - $0.87

* The company uses the two-class method of calculating income from continuing operations per diluted share. Under the two-class method, income from continuing operations is adjusted for dividends and undistributed earnings (losses) to the holders of the Series A Preferred Stock, and the weighted average diluted shares do not assume conversion of the preferred shares to common shares.

Earnings guidance does not contemplate future items such as business development activities, strategic developments (such as restructurings, spin-offs or dispositions of assets or investments), contingent purchase price adjustments, significant expenses related to litigation, tax adjustments and changes in applicable laws and regulations (including significant accounting and tax matters) and intangible impairments. The timing and amounts of these items are highly variable, difficult to predict, and of a potential size that could have a substantial impact on the company’s reported results for any given period. Prospective quantification of these items is generally not practicable. Operating adjusted net income from continuing operations per share excludes amortization expense associated with acquired intangible assets, as well as one-time charges, net of taxes. See reconciliations of the company's guidance included below.

Earnings Conference Call Information

OPENLANE will be hosting an earnings conference call and webcast on Wednesday, May 1, 2024 at 4:30 p.m. ET. The call will be hosted by OPENLANE Chief Executive Officer Peter Kelly and Chief Financial Officer Brad Lakhia. The conference call may be accessed by calling 1-833-634-2155 and asking to join the OPENLANE call. A live webcast will be available at the investor relations section of corporate.openlane.com. Supplemental financial information for OPENLANE’s first quarter 2024 results is available at the investor relations section of corporate.openlane.com.

The archive of the webcast will be available following the call at the investor relations section of corporate.openlane.com for a limited time.

About OPENLANE

OPENLANE, Inc. (NYSE: KAR), provides sellers and buyers across the global wholesale used vehicle industry with innovative, technology-driven remarketing solutions. The company's unique end-to-end platform supports whole car, financing, logistics and other ancillary and related services. Our integrated marketplaces reduce risk, improve transparency and streamline transactions for customers around the globe. Headquartered in Carmel, Indiana, the company has employees across the United States, Canada, Europe, Uruguay and the Philippines. For more information and the latest company news, visit corporate.openlane.com.

Forward-Looking Statements

Certain statements contained in this release include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and which are subject to certain risks

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EXHIBIT 99.1

EARNINGS RELEASE

For Immediate Release

Analyst Inquiries:                                                     Media Inquiries:

Mike Eliason                                                          Laurie Dippold

(317) 249-4559                                                           (317) 468-3900

mike.eliason@openlane.com                     laurie.dippold@openlane.com

OPENLANE, Inc. Reports 2023 Financial Results

Carmel, IN, February 20, 2024 — OPENLANE, Inc. (NYSE: KAR), today reported its fourth quarter and annual financial results for the period ended December 31, 2023.

"Our business made significant progress in 2023, and we are very pleased to deliver results that exceeded our guidance for the year," said Peter Kelly, CEO of OPENLANE. "We are beginning to see the positive impacts of our strategic investments in innovation and technology, our brand simplification work, as well as our continued diligence around costs. Our solid execution in the fourth quarter and throughout 2023 delivered volume growth, revenue growth and margin expansion, results that I believe position OPENLANE for future growth and success."

2023 Financial Highlights

•Total revenue of $1,645 million, an increase of 8%

•Loss from continuing operations of $155 million, including a $251 million non-cash impairment

•Adjusted EBITDA of $272 million, an increase of 18%, with Marketplace contributing approximately 40%

•Marketplace volumes increased 3% and 10% in the fourth quarter

•$237 million of cash flow from operating activities

2024 Guidance

Annual

Guidance

Income from continuing operations (in millions)

$74 - $88

Adjusted EBITDA (in millions)

$285 - $305

Income from continuing operations per share - diluted *

$0.20 - $0.30

Operating adjusted net income from continuing operations per share - diluted

$0.77 - $0.87

* The company uses the two-class method of calculating income from continuing operations per diluted share. Under the two-class method, income from continuing operations is adjusted for dividends and undistributed earnings (losses) to the holders of the Series A Preferred Stock, and the weighted average diluted shares do not assume conversion of the preferred shares to common shares.

Earnings guidance does not contemplate future items such as business development activities, strategic developments (such as restructurings, spin-offs or dispositions of assets or investments), contingent purchase price adjustments, significant expenses related to litigation, tax adjustments and changes in applicable laws and regulations (including significant accounting and tax matters) and intangible impairments. The timing and amounts of these items are highly variable, difficult to predict, and of a potential size that could have a substantial impact on the company’s reported results for any given period. Prospective quantification of these items is generally not practicable. Operating adjusted net income from continuing operations per share excludes amortization expense associated with acquired intangible assets, as well as one-time charges, net of taxes. See reconciliations of the company's guidance included below.

Earnings Conference Call Information

OPENLANE will be hosting an earnings conference call and webcast on Tuesday, February 20, 2024 at 5:00 p.m. ET. The call will be hosted by OPENLANE Chief Executive Officer Peter Kelly and Chief Financial Officer Brad Lakhia. The conference call may be accessed by calling 1-833-634-2155 and asking to join the OPENLANE call. A live webcast will be available at the investor relations section of corporate.openlane.com. Supplemental financial information for OPENLANE’s fourth quarter 2023 results is available at the investor relations section of corporate.openlane.com.

The archive of the webcast will be available following the call at the investor relations section of corporate.openlane.com for a limited time.

About OPENLANE

OPENLANE, Inc. (NYSE: KAR), provides sellers and buyers across the global wholesale used vehicle industry with innovative, technology-driven remarketing solutions. The company's unique end-to-end platform supports whole car, financing, logistics and other ancillary and related services. Our integrated marketplaces reduce risk, improve transparency and streamline transactions for customers around the globe. Headquartered in Carmel, Indiana, the company has employees across the United States, Canada, Europe, Uruguay and the Philippines. For more information and the latest company news, visit corporate.openlane.com.

Forward-Looking Statements

Certain statements contained in this release include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and which are subject to certain risks, trends and uncertainties. In particular, statements made that are not historical facts may

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EXHIBIT 99.1

EARNINGS RELEASE

For Immediate Release

Analyst Inquiries:                                                     Media Inquiries:

Mike Eliason                                                          Laurie Dippold

(317) 249-4559                                                           (317) 468-3900

mike.eliason@openlane.com                     laurie.dippold@openlane.com

OPENLANE, Inc. Reports Third Quarter 2023 Financial Results

Carmel, IN, November 1, 2023 — OPENLANE, Inc. (NYSE: KAR), today reported its third quarter financial results for the period ended September 30, 2023.

"For the third consecutive quarter, OPENLANE delivered improved results including increased volumes, revenue and gross profit. And against an industry backdrop that remains challenged, our marketplace segment grew both commercial and dealer transactions while meaningfully contributing to OPENLANE’s adjusted EBITDA performance" said Peter Kelly, CEO of OPENLANE. "We continue to simplify our company and the customer experience through our platform and brand consolidation to OPENLANE. And I remain very optimistic about the powerful combination of our asset-light, digital business model and the full OPENLANE team."

Third Quarter 2023 Financial Highlights

•Total revenue of $416 million, an increase of 6% year-over-year

•Income from continuing operations of $13 million

•Adjusted EBITDA of $68 million, with Marketplace contributing approximately 40%

•Marketplace volumes increased 8%

•$216 million of cash flow from operating activities year-to-date

2023 Guidance

The company’s previously stated annual guidance for Adjusted EBITDA and operating adjusted net income from continuing operations per diluted share remains unchanged, while the company's other guidance measures have been updated as shown below.

Annual

Guidance

Income (loss) from continuing operations (in millions)

($172) - ($158)

Adjusted EBITDA (in millions)

$250 - $270

Income (loss) from continuing operations per share - diluted * ($1.98) - ($1.85)

Operating adjusted net income from continuing operations per share - diluted

$0.60 - $0.70

* The company uses the two-class method of calculating income from continuing operations per diluted share. Under the two-class method, income from continuing operations is adjusted for dividends and undistributed earnings (losses) to the holders of the Series A Preferred Stock, and the weighted average diluted shares do not assume conversion of the preferred shares to common shares.

Earnings guidance does not contemplate future items such as business development activities, strategic developments (such as restructurings, spin-offs or dispositions of assets or investments), contingent purchase price adjustments, significant expenses related to litigation, tax adjustments and changes in applicable laws and regulations (including significant accounting and tax matters) and intangible impairments. The timing and amounts of these items are highly variable, difficult to predict, and of a potential size that could have a substantial impact on the company’s reported results for any given period. Prospective quantification of these items is generally not practicable. Operating adjusted net income from continuing operations per share excludes amortization expense

associated with acquired intangible assets, as well as one-time charges, net of taxes. See reconciliations of the company's guidance included below.

Share Repurchase Authorization

The board of directors authorized an increase in the size of the company’s share repurchase program by an additional $20 million and an extension of the share repurchase program through December 31, 2024. With the increase, and giving effect to the company’s previous repurchases, approximately $125 million remains available for repurchases under the share repurchase program.

Earnings Conference Call Information

OPENLANE will be hosting an earnings conference call and webcast on Wednesday, November 1, 2023 at 5:00 p.m. ET. The call will be hosted by OPENLANE Chief Executive Officer Peter Kelly and Chief Financial Officer Brad Lakhia. The conference call may be accessed by calling 1-833-634-2155 and asking to join the OPENLANE call. A live webcast will be available at the investor relations section of corporate.openlane.com. Supplemental financial information for OPENLANE’s third quarter 2023 results is available at the investor relations section of corporate.openlane.com.

The archive of the webcast will be available following the call at the investor relations section of corporate.openlane.com for a limited time.

About OPENLANE

OPENLANE, Inc. (NYSE: KAR), provides sellers and buyers across the global wholesale used vehicle industry with innovative, technology-driven remarketing solutions. The company's unique end-to-end platform supports whole car, financing, logistic

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EXHIBIT 99.1

EARNINGS RELEASE

For Immediate Release

Analyst Inquiries:                                                     Media Inquiries:

Mike Eliason                                                          Laurie Dippold

(317) 249-4559                                                           (317) 468-3900

mike.eliason@openlane.com                     laurie.dippold@openlane.com

OPENLANE, Inc. Reports Second Quarter 2023 Financial Results

Carmel, IN, August 2, 2023 — OPENLANE, Inc. (NYSE: KAR), today reported its second quarter financial results for the period ended June 30, 2023.

"I am very pleased with our solid performance in the second quarter. Against an industry backdrop of continued tight supply, we delivered strong growth in revenue, total gross profit and adjusted EBITDA," said Peter Kelly, CEO of OPENLANE. "Our performance was led by our Marketplace segment, which, given the scalability of our asset-light, digital model, is very well positioned to help build on our positive operational and financial performance. And our rebrand and associated platform consolidation strategy is beginning to take meaningful shape, creating more liquid and cost efficient markets that help our customers achieve better outcomes while accelerating innovation and growth at OPENLANE."

Second Quarter 2023 Financial Highlights

•Total revenue of $416.9 million, an increase of 9% year-over-year

•Loss from continuing operations of $193.8 million, or $(1.87) per diluted share, driven by non-cash goodwill and intangibles impairment charges of $221.4 million, net of tax impacts

•Adjusted EBITDA of $83.8 million, an increase of 49%, including receipt of $20.0 million early termination payment

•Marketplace Adjusted EBITDA of $43.5 million, a $38.5 million increase year-over-year including receipt of $20.0 million early termination payment

•Operating adjusted net income from continuing operations of $36.8 million, or $0.25 per diluted share, compared with $6.6 million, or $0.04 per diluted share, for the quarter ended June 30, 2022.

•$142.6 million of cash flow from operating activities for the six months ended June 30, 2023, drove a reduction in net debt of $117.5 million

2023 Guidance

The company’s previously stated annual guidance for Adjusted EBITDA remains unchanged, while the company's other guidance measures have been updated as shown below.

Annual

Guidance

Income (loss) from continuing operations (in millions) ($166) - ($153)

Adjusted EBITDA (in millions) $250 - $270

Income (loss) from continuing operations per share - diluted *($1.92) - ($1.80)

Operating adjusted net income from continuing operations per share - diluted$0.60 - $0.70

* The company uses the two-class method of calculating income from continuing operations per diluted share. Under the two-class method, income from continuing operations is adjusted for dividends and undistributed earnings (losses) to the holders of the Series A Preferred Stock, and the weighted average diluted shares do not assume conversion of the preferred shares to common shares.

Earnings guidance does not contemplate future items such as business development activities, strategic developments (such as restructurings, spin-offs or dispositions of assets or investments), contingent purchase price adjustments, significant expenses related to litigation and changes in applicable laws and regulations (including significant accounting and tax matters) and intangible impairments. The timing and amounts of these items are highly variable, difficult to predict, and of a potential size that could have a substantial impact on the company’s reported results for any given period. Prospective quantification of these items is generally not practicable. Operating adjusted net income from continuing operations per share excludes amortization expense associated with acquired intangible assets, as well as one-time charges, net of taxes. See reconciliations of the company's guidance included below.

Earnings Conference Call Information

OPENLANE will be hosting an earnings conference call and webcast on Thursday, August 3, 2023 at 8:30 a.m. ET. The call will be hosted by OPENLANE Chief Executive Officer Peter Kelly and Chief Financial Officer Brad Lakhia. The conference call may be accessed by calling 1-833-634-2155 and entering participant passcode "OPENLANE." A live webcast will be available at the investor relations section of corporate.openlane.com. Supplemental financial information for OPENLANE’s second quarter 2023 results is available at the investor relations section of corporate.openlane.com.

The archive of the webcast will be available following the call at the investor relations section of corporate.openlane.com for a limited time.

About OPENLANE

OPENLANE, Inc. (NYSE: KAR), provides sellers and buyers across the global wholesale used vehicle industry with

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EXHIBIT 99.1

EARNINGS RELEASE

For Immediate Release

Analyst Inquiries:                                                      Media Inquiries:

Mike Eliason                                                             Laurie Dippold

(317) 249-4559                                                           (317) 468-3900

mike.eliason@karglobal.com                     laurie.dippold@karglobal.com

KAR Auction Services, Inc. Reports First Quarter 2023 Financial Results

•Total revenue increased 14% year-over-year

•Significant increases in operating profit and income from continuing operations

•Adjusted EBITDA increased 20% year-over-year

Carmel, IN, May 2, 2023 — KAR Auction Services, Inc. (NYSE: KAR), today reported its first quarter financial results for the period ended March 31, 2023.

"I am very pleased with our solid performance in the first quarter and the improvement we achieved over the prior year—including double-digit growth in revenue, gross profit, adjusted EBITDA and operating adjusted earnings per share," said Peter Kelly, CEO. "Our Marketplace segment grew revenue and profitability by increasing service attach rates, buyer participation and overall conversion during the quarter. We are beginning to see the positive impact of our ongoing cost control efforts across our business, and remain well positioned for growth."

First Quarter 2023 Financial Highlights

•Total revenue was $420.6 million, an increase of 14% for the first quarter of 2023, compared with $369.4 million for the first quarter of 2022.

•Income from continuing operations of $12.7 million, or $0.01 per diluted share, for the first quarter of 2023, compared with a loss from continuing operations of $8.4 million, or $(0.16) per diluted share, for the first quarter of 2022.

•Operating adjusted net income from continuing operations of $17.4 million, or $0.12 per diluted share, for the quarter ended March 31, 2023, compared with an operating adjusted net loss from continuing operations of $2.9 million, or $(0.02) per diluted share, for the quarter ended March 31, 2022.

•Adjusted EBITDA from continuing operations was $58.9 million, an increase of 20% for the quarter ended March 31, 2023, which included an $11 million charge related to an investment in an early-stage automotive company, compared with $49.1 million for the quarter ended March 31, 2022.

•Marketplace revenue, excluding purchased vehicle sales, was $265.5 million, an increase of 11% for the first quarter of 2023, compared with $238.9 million for the first quarter of 2022.

•Finance segment's first quarter performance was driven by increased loan transactions of 13% and increased revenue per loan transaction of 5%.

2023 Guidance

The company’s previously stated annual guidance for Adjusted EBITDA of $250 to $270 million and operating adjusted net income from continuing operations per diluted share of $0.37 to $0.47 remains unchanged.

The company has not provided a reconciliation because it is unable, without unreasonable efforts, to quantify the forward-looking income from continuing operations, the most directly comparable GAAP measure. In connection with the rebranding of the existing branded marketplaces to OPENLANE, the company expects to evaluate the carrying amount of its indefinite-lived ADESA tradename and other definite-lived tradenames for potential impairment, as well as reassess the useful life of the ADESA tradename, in the second quarter of 2023. Any such non-cash impairment would affect income from continuing operations, but not the non-GAAP financial measures Adjusted EBITDA and operating adjusted net income from continuing operations per diluted share.

Earnings guidance does not contemplate future items such as business development activities, strategic developments (such as restructurings, spin-offs or dispositions of assets or investments), contingent purchase price adjustments, significant expenses related to litigation and changes in applicable laws and regulations (including significant accounting and tax matters) and intangible impairments. The timing and amounts of these items are highly variable, difficult to predict, and of a potential size that could have a substantial impact on the company’s reported results for any given period. Prospective quantification of these items is generally not practicable. Operating adjusted net income from continuing operations per share excludes amortization expense associated with acquired intangible assets, as well as one-time charges, net of taxes.

Earnings Conference Call Information

KAR will be hosting an earnings conference call and webcast on Wednesday, May 3, 2023 at 8:30 a.m. EDT. The call will be hosted by KAR's Chief Executive Officer, Peter Kelly, Executive Vice President and Chief Financial Officer, Brad Lakhia and Chief Accounting Officer, Scott Anderson. The conference call may be acc

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Analyst Inquiries:                                                      Media Inquiries:

Mike Eliason                                                             Laurie Dippold

(317) 249-4559                                                           (317) 468-3900

mike.eliason@karglobal.com                     laurie.dippold@karglobal.com

KAR Auction Services, Inc. Reports 2022 Financial Results

•Total revenue and gross profit increased for the quarter and year

•Cost actions completed on schedule and contributed to a reduction in fourth quarter selling, general and administrative expenses

•Completed consolidation of U.S. dealer-to-dealer marketplaces and migrated European marketplace technology onto a single platform

•Over $1.5 billion of corporate debt repaid and 12.6 million shares of common stock repurchased and retired for approximately $182 million in 2022

Carmel, IN, February 21, 2023 — KAR Auction Services, Inc. (NYSE: KAR), today reported its fourth quarter and annual financial results for the period ended December 31, 2022.

"KAR’s Q4 and 2022 performance demonstrate the strength of our business and our ability to execute a highly focused strategy," said Peter Kelly, CEO of KAR Global. "Against a backdrop of a still very unusual and volume-constrained industry environment, we increased revenue and total gross profit while investing in the people, platforms and technology necessary to support our customers and our digital future. We remain highly focused on cost management and growth, and we believe our strategy and capabilities position us well to capture the opportunities ahead."

Fourth Quarter 2022 Financial Highlights

•Total revenue was $372.8 million, an increase of 4% for the fourth quarter of 2022, compared with $357.7 million for the fourth quarter of 2021.

•Income from continuing operations of $41.9 million, or $0.21 per diluted share, for the fourth quarter of 2022, compared with $15.2 million, or $0.04 per diluted share, for the fourth quarter of 2021. In October 2022, the Company closed on the sale of excess land in Montreal which resulted in a gain of $33.9 million.

•Operating adjusted net income from continuing operations of $47.6 million, or $0.33 per diluted share, for the quarter ended December 31, 2022, compared with $25.9 million, or $0.17 per diluted share, for the quarter ended December 31, 2021.

•Adjusted EBITDA from continuing operations was $56.5 million for the quarter ended December 31, 2022, compared with $64.3 million for the quarter ended December 31, 2021.

•Marketplace revenue, excluding purchased vehicle sales, was $227.1 million, an increase of less than 1% for the fourth quarter of 2022, compared with $226.6 million for the fourth quarter of 2021.

•Marketplace gross profit per vehicle sold increased 3% to $297 for the quarter ended December 31, 2022, compared with $288 for the quarter ended December 31, 2021.

•Finance segment's strong fourth quarter performance was driven by increased loan transactions of 15% and increased revenue per loan transaction of 11%.

•In the fourth quarter of 2022, KAR repurchased and retired 3,909,406 shares of common stock in the open market at a weighted average price of $12.79 per share, aggregating $50 million.

2022 Financial Highlights

•Total revenue was $1,519.4 million, an increase of 5% for the year ended December 31, 2022, compared with $1,450.6 million for the year ended December 31, 2021.

•Income from continuing operations of $28.6 million, or $(0.10) per diluted share, for the year ended December 31, 2022, compared with a loss from continuing operations of $(0.8) million, or $(0.27) per diluted share, for the year ended December 31, 2021. In October 2022, the Company closed on the sale of excess land in Montreal which resulted in a gain of $33.9 million.

•Operating adjusted net income from continuing operations of $65.8 million, or $0.43 per diluted share, for the year ended December 31, 2022, compared with $48.7 million, or $0.31 per diluted share, for the year ended December 31, 2021.

•Adjusted EBITDA from continuing operations was $231.2 million for the year ended December 31, 2022, compared with $270.2 million for the year ended December 31, 2021.

•Marketplace revenue, excluding purchased vehicle sales, was $960.6 million, an increase of 2% for the year ended December 31, 2022, compared with $940.5 million for the year ended December 31, 2021.

•Marketplace gross profit per vehicle sold increased 8% to $287 for the year ended December 31, 2022, compared with $265 for the year ended December 31, 2021.

•Finance segment's strong year ended performance was driven by increased revenue per loan transaction of 18% and increased loan transactions of 10%.

•In 2022, KAR repurchased and retired 12,649,722 shares of common stock in the open market a

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Analyst Inquiries:                                                      Media Inquiries:

Mike Eliason                                                             Jill Trudeau

(317) 249-4559                                                           (317) 796-0945

mike.eliason@karglobal.com                     jill.trudeau@karglobal.com

KAR Auction Services, Inc. Reports Third Quarter 2022 Financial Results

•Revenue, gross profit per vehicle sold, income from continuing operations and Adjusted EBITDA increased for the quarter despite a decrease in volumes

•Repurchased $600 million principal amount of senior notes

•Repurchased $50 million of common stock in the third quarter and an additional $50 million of common stock in October 2022

Carmel, IN, November 1, 2022 — KAR Auction Services, Inc. (NYSE: KAR) today reported its third quarter financial results for the period ended September 30, 2022.

"I am pleased with the results that we produced across the organization, especially given what continues to be a very challenging industry and economic environment," said Peter Kelly, CEO of KAR Global. "During the quarter, we increased revenue, total gross profit and Adjusted EBITDA. We are achieving our cost reduction targets ahead of our original timeline, and are re-investing in the platforms and technology that will accelerate KAR and our customers into the future. I am energized by the many opportunities ahead and believe our digital strategy and differentiated offerings position us well for the future."

Third Quarter 2022 Financial Highlights

•Total revenue was $393.0 million, an increase of 13% for the third quarter of 2022, compared with $347.1 million for the third quarter of 2021.

•Income from continuing operations of $0.5 million, or $(0.09) per diluted share, for the third quarter of 2022, compared with a loss from continuing operations of $26.9 million, or $(0.31) per diluted share, for the third quarter of 2021.

•Operating adjusted net income from continuing operations of $13.7 million, or $0.09 per diluted share, for the quarter ended September 30, 2022, compared with an operating adjusted net loss from continuing operations of $16.5 million, or $(0.11) per diluted share, for the quarter ended September 30, 2021.

•Adjusted EBITDA from continuing operations was $69.5 million for the quarter ended September 30, 2022, compared with $66.6 million, including a $10 million gain from sale of investments, for the quarter ended September 30, 2021.

•Marketplace revenue, excluding purchased vehicle sales, was $248.1 million, an increase of 14% for the third quarter of 2022, compared with $217.8 million for the third quarter of 2021.

•Marketplace gross profit per vehicle sold increased 14% to $320 for the quarter ended September 30, 2022, compared with $280 for the quarter ended September 30, 2021.

•Finance segment's strong third quarter performance was driven by increased revenue per loan transaction of 16% and increased loan transactions of 13%.

•In the third quarter of 2022, KAR repurchased and retired 3,309,527 shares of common stock in the open market at a weighted average price of $15.11 per share, aggregating $50 million.

The company has classified the ADESA U.S. physical auction business as discontinued operations. As such, the results discussed herein refer to the continuing operations of KAR and do not include the results of the ADESA U.S. physical auction business.

Recent Share Repurchases

In October 2022, KAR repurchased and retired 3,909,406 shares of common stock in the open market at a weighted average price of $12.79 per share, aggregating $50 million. At October 31, 2022, approximately $126.9 million of the company's outstanding common stock remained available for repurchase under the 2019 share repurchase program.

Earnings Conference Call Information

KAR will be hosting an earnings conference call and webcast on Wednesday, November 2, 2022 at 8:30 a.m. EDT. The call will be hosted by KAR's Chief Executive Officer, Peter Kelly and Executive Vice President and Chief Financial Officer, Eric Loughmiller. The conference call may be accessed by calling 1-833-634-2155 and entering participant passcode "KAR", while the live web cast will be available at the investors section of www.karglobal.com. Supplemental financial information for KAR’s third quarter 2022 results is available at the investors section of www.karglobal.com.

The archive of the webcast will also be available following the call and will be available at the investors section of www.karglobal.com for a limited time.

About KAR

KAR Auction Services, Inc. d/b/a KAR Global (NYSE: KAR), provides sellers and buyers across the global wholesale used vehicle industry with innovative, technology-driven remarketing solutions. KAR Global's unique end-to-end platform

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Analyst Inquiries:                                                      Media Inquiries:

Mike Eliason                                                             Jill Trudeau

(317) 249-4559                                                           (317) 796-0945

mike.eliason@karglobal.com                     jill.trudeau@karglobal.com

KAR Auction Services, Inc. Reports Second Quarter 2022 Financial Results

•KAR completed the sale of its ADESA U.S. physical auction business to Carvana and is using the proceeds to reduce debt

•The company has over $800 million of available cash as of June 30, 2022

◦The company is concurrently announcing a tender offer to purchase up to $600 million principal amount of senior notes

◦Repurchased $82 million of common stock in the second quarter

•The company's performance was impacted by reductions in conversion rates across its marketplaces

Carmel, IN, August 2, 2022 — KAR Auction Services, Inc. (NYSE: KAR) today reported its second quarter financial results for the period ended June 30, 2022.

"During the second quarter, KAR increased revenue and total gross profit, grew gross profit per vehicle sold in our marketplace business, and delivered continued strong performance in our financing business," said Peter Kelly, CEO of KAR Global. "Looking ahead, we remain highly focused on cost management, pricing and platform consolidation, which we expect to contribute to improved second half results and help position us for future growth. However, if the conversion pressures experienced in the second quarter do not improve, we would expect full year 2022 Adjusted EBITDA may be as low as $245 million as sellers and buyers look for price equilibrium across our marketplaces. Accordingly, we are updating our previous guidance for Adjusted EBITDA to a range of $245 to $265 million."

Second Quarter 2022 Financial Highlights

The company has classified the ADESA U.S. physical auction business as discontinued operations. As such, the results discussed herein refer to the continuing operations of KAR and do not include the results of the ADESA U.S. physical auction business.

•Total revenue for the second quarter of 2022 was $384.2 million, an increase of 2% compared with $376.0 million for the second quarter of 2021.

•Loss from continuing operations for the second quarter of 2022 of $5.4 million, or $(0.10) per diluted share, compared with $15.3 million, or $(0.16) per diluted share, for the second quarter of 2021.

•Marketplaces had a conversion rate of 36% of vehicles offered for the second quarter of 2022, compared with 48% for the second quarter of 2021.

•Adjusted EBITDA from continuing operations for the quarter ended June 30, 2022 was $56.1 million, compared with $62.1 million for the quarter ended June 30, 2021.

•Operating adjusted net income (loss) from continuing operations per diluted share was $0.04 for the quarter ended June 30, 2022, compared with $(0.03) for the quarter ended June 30, 2021.

•Year-over-year increase in digital dealer-to-dealer marketplaces of 5%, including acquired volume from CARWAVE.

•Marketplace gross profit per vehicle sold increased 11% to $282 for the quarter ended June 30, 2022, compared with $254 for the quarter ended June 30, 2021.

•AFC's strong second quarter performance was driven by increased revenue per loan transaction of 19% and increased loan transactions of 13%.

Debt Tender Offer

On August 2, 2022, the company commenced an offer to purchase for cash up to $600,000,000 principal amount of its 5.125% Senior Notes due 2025, exclusive of any applicable premiums paid in connection with such tender offer and accrued and unpaid interest. The tender offer is being made only by and pursuant to the terms set forth in the offer to purchase, dated August 2, 2022, and is subject to a number of conditions set forth therein that may be waived or changed.

Earnings Conference Call Information

KAR will be hosting an earnings conference call and webcast on Wednesday, August 3, 2022 at 8:30 a.m. EDT. The call will be hosted by KAR's Chief Executive Officer, Peter Kelly and Executive Vice President and Chief Financial Officer, Eric Loughmiller. The conference call may be accessed by calling 1-877-300-8521 and entering participant passcode 10169145, while the live web cast will be available at the investors section of www.karglobal.com. Supplemental financial information for KAR’s second quarter 2022 results is available at the investors section of www.karglobal.com.

The archive of the webcast will also be available following the call and will be available at the investors section of www.karglobal.com for a limited time.

About KAR

KAR Auction Services, Inc. d/b/a KAR Global (NYSE: KAR), provides sellers and buyers across the global wholesale used vehicle industry with innovative, tec

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Analyst Inquiries:                                                      Media Inquiries:

Mike Eliason                                                             Jill Trudeau

(317) 249-4559                                                           (317) 796-0945

mike.eliason@karglobal.com                     jill.trudeau@karglobal.com

KAR Auction Services, Inc. Reports First Quarter 2022 Financial Results

•KAR expects to close the transaction selling its ADESA U.S. physical auction business to Carvana, with the proceeds expected to reduce debt

•KAR reported consistent revenue from continuing operations

•For the first quarter, gross profit per vehicle sold increased year-over-year to $255

•Continued growth in digital dealer-to-dealer volumes were driven by industry-leading platforms, BacklotCars and TradeRev

Carmel, IN, May 3, 2022 — KAR Auction Services, Inc. (NYSE: KAR) today reported its first quarter financial results for the period ended March 31, 2022.

"We expect to close the transaction selling our U.S. physical auction business to Carvana within the next week," said Peter Kelly, CEO of KAR Global. "Going forward KAR will be the premier digital marketplace for wholesale used vehicles, with a meaningful finance company enabling our customer base. Our business will become asset-light with an enhanced financial profile—including significantly less debt. We expect the new simplified KAR to generate $265 million of Adjusted EBITDA in 2022. And as I look beyond 2022, I see exciting opportunities for growth across all of our businesses."

First Quarter 2022 Financial Highlights

The company has classified the ADESA U.S. physical auction business as held-for-sale (discontinued operations) based on management’s intention to sell the business. As such, the results discussed herein refer to the continuing operations of KAR and do not include the results of the ADESA U.S. physical auction business.

•Total revenue for the first quarter of 2022 was $369.4 million, a decrease of less than 1% compared with $369.8 million for the first quarter of 2021.

•Net loss from continuing operations for the first quarter of 2022 of $8.4 million, or $(0.16) per diluted share, compared with net income from continuing operations of $26.2 million, or $0.10 per diluted share, for the first quarter of 2021.

•Adjusted EBITDA from continuing operations for the quarter ended March 31, 2022 was $49.1 million, compared with $77.2 million for the quarter ended March 31, 2021.

•Operating adjusted net income (loss) from continuing operations per diluted share was $(0.02) for the quarter ended March 31, 2022, compared with $0.26 for the quarter ended March 31, 2021.

•Results for the quarter ended March 31, 2021 included $17.0 million in realized gains related to previous investments in early-stage automotive companies.

•Year-over-year increase in ADESA's digital dealer-to-dealer marketplaces of 31%, or 6% when including CARWAVE volumes in both years.

•ADESA gross profit per vehicle sold increased 3% to $255 for the quarter ended March 31, 2022, compared with $248 for the quarter ended March 31, 2021.

•AFC's strong first quarter performance was driven by increased revenue per loan transaction of 28%.

Share Repurchase Authorization

The board of directors authorized an increase in the size of the company’s $300 million share repurchase program by an additional $200 million and an extension of the share repurchase program through December 31, 2023. With the increase, and giving effect to the company’s previous repurchases, approximately $309 million remains available for repurchases under the share repurchase program.

Earnings Conference Call Information

KAR will be hosting an earnings conference call and webcast on Wednesday, May 4, 2022 at 8:30 a.m. EDT. The call will be hosted by KAR's Chief Executive Officer, Peter Kelly and Executive Vice President and Chief Financial Officer, Eric Loughmiller. The conference call may be accessed by calling 1-844-778-4145 and entering participant passcode 5886902, while the live web cast will be available at the investors section of www.karglobal.com. Supplemental financial information for KAR’s first quarter 2022 results is available at the investors section of www.karglobal.com.

The archive of the webcast will also be available following the call and will be available at the investors section of www.karglobal.com for a limited time.

About KAR

KAR Auction Services, Inc. d/b/a KAR Global (NYSE: KAR), provides sellers and buyers across the global wholesale used vehicle industry with innovative, technology-driven remarketing solutions. KAR Global's unique end-to-end platform supports whole car, financing, logistics and other ancillary and related services, including the sale of nearly 2.6 million units valued at over $40 bil

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Analyst Inquiries:                                                      Media Inquiries:

Mike Eliason                                                             Jill Trudeau

(317) 249-4559                                                           (317) 796-0945

mike.eliason@karglobal.com                     jill.trudeau@karglobal.com

KAR Auction Services, Inc. Reports 2021 Financial Results

•KAR reported increased revenue and operating adjusted net income per share for 2021, driven by strong gross profit per unit and lower selling, general and administrative expenses (excluding acquisitions)

•For the fourth quarter, gross profit per vehicle sold increased year-over-year and sequentially to $297; Adjusted EBITDA increased year-over-year and sequentially to $97.9 million

•Continued growth in digital dealer-to-dealer volumes were driven by industry leading platforms, BacklotCars and TradeRev

Carmel, IN, February 16, 2022 — KAR Auction Services, Inc. (NYSE: KAR), today reported its fourth quarter financial results for the period ended December 31, 2021.

"Though commercial seller volumes remained constrained in the fourth quarter, I was pleased with our performance in the face of this challenge," said Peter Kelly, CEO of KAR Global. "We have maintained – and in some cases slightly increased – our share with commercial sellers while achieving strong double-digit growth in our digital dealer-to-dealer businesses. We are focused on improving gross profit per unit sold and Adjusted EBITDA as a percent of revenue, and continue to take meaningful, deliberate steps to reduce our labor and selling, general and administrative costs. We believe our digital transformation strategy and leaner cost structure position us for faster growth and higher profitability as volumes return."

Fourth Quarter 2021 Financial Highlights

•Total revenue for the fourth quarter of 2021 was $549.4 million, an increase of 4% compared with $529.6 million for the fourth quarter of 2020.

•Net income for the fourth quarter of 2021 of $5.1 million and a loss of $(0.04) per diluted share, compared with a net loss of $17.1 million, or $(0.21) per diluted share, in the fourth quarter of 2020.

•Adjusted EBITDA for the quarter ended December 31, 2021 was $97.9 million, compared with $67.5 million for the quarter ended December 31, 2020, an increase of 45%.

•Operating adjusted net income per diluted share was $0.11 for the quarter ended December 31, 2021, compared with an operating adjusted net loss per diluted share of $(0.01) for the quarter ended December 31, 2020.

•Year-over-year increase in ADESA's digital dealer-to-dealer marketplaces of 72% or 20%, when including CARWAVE and BacklotCars volumes in both years.

•ADESA gross profit per vehicle sold increased 30% to $297 for the quarter ended December 31, 2021, compared with $229 for the quarter ended December 31, 2020.

•AFC's strong fourth quarter performance was driven by increased loan transactions (5%), increased revenue per loan transaction (25%) and increased leverage of selling, general and administrative costs of $9.1 million in both the fourth quarter of 2021 and 2020.

2021 Financial Highlights

•Total revenue for the year ended December 31, 2021 was $2,251.6 million, an increase of 3% compared with $2,187.7 million for the year ended December 31, 2020.

•Net income for the year ended December 31, 2021 of $66.5 million, or $0.16 per diluted share, compared with net income of $0.5 million and a loss of $(0.16) per diluted share, for the year ended December 31, 2020.

•Adjusted EBITDA for the year ended December 31, 2021 was $434.2 million, compared with $375.3 million for the year ended December 31, 2020, an increase of 16%.

•Operating adjusted net income per diluted share was $0.81 for the year ended December 31, 2021, compared with operating adjusted net income per diluted share of $0.51 for the year ended December 31, 2020.

•Year-over-year increase in ADESA's digital dealer-to-dealer marketplaces of 110% or 34%, when including CARWAVE and BacklotCars volumes in both years.

•ADESA gross profit per vehicle sold increased 19% to $277 for the year ended December 31, 2021, compared with $233 for the year ended December 31, 2020.

•Strong growth in AFC's revenue (8%), operating profit (36%) and Adjusted EBITDA (46%) reflect strong used car pricing, low credit risk and the efficiency of its inventory floorplanning business model.

Investments in Early-Stage Automotive Companies

The company invests in certain early-stage automotive companies and funds that relate to the automotive industry. We believe these investments have resulted in the expansion of relationships in the vehicle remarketing industry. Realized gains on these investments were $4.8 million and $32.0 million for the three and twelve months ended Decem

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Analyst Inquiries:                                                      Media Inquiries:

Mike Eliason                                                             Jill Trudeau

(317) 249-4559                                                           (317) 796-0945

mike.eliason@karglobal.com                     jill.trudeau@karglobal.com

KAR Auction Services, Inc. Reports Third Quarter 2021 Financial Results

Sanjeev Mehra Elected to Board of Directors

•Revenue was impacted by lower volumes throughout the wholesale remarketing industry

•105% increase in North American digital dealer-to-dealer volumes; 19% growth when including BacklotCars pre-acquisition 2020 volumes

•Reduction in unrealized gains on investments contributes to net loss in the third quarter

Carmel, IN, November 2, 2021 — KAR Auction Services, Inc. (NYSE: KAR), today reported its third quarter financial results for the period ended September 30, 2021.

“I am pleased with our third quarter performance, particularly given the extremely constrained vehicle supply our industry continues to face,” said Peter Kelly, CEO of KAR Global. “We continued to experience solid growth in our digital dealer-to-dealer segment and once again saw record numbers of total active sellers and buyers participate in our marketplaces. Our continued efforts to refine our operating model toward a more digital future contributed to stronger unit economics in the quarter while also positioning KAR for accelerated growth once industry volumes begin to recover.”

Third Quarter 2021 Financial Highlights

•Total revenue for the third quarter of 2021 was $535.2 million, down 10% compared with $593.6 million for the third quarter of 2020.

•Net loss for the third quarter of 2021 of $1.0 million, or $(0.10) per diluted share, compared with net income of $47.1 million, or $0.23 per diluted share, in the third quarter of 2020.

•Adjusted EBITDA for the quarter ended September 30, 2021 was $96.6 million, compared with $139.2 million for the quarter ended September 30, 2020.

•Operating adjusted net income per diluted share was $0.08 for the quarter ended September 30, 2021, compared with $0.45 for the quarter ended September 30, 2020.

•Year-over-year increase in our North American digital dealer-to-dealer marketplaces of 105% and 19% year-over-year growth when including BacklotCars pre-acquisition 2020 volumes.

•ADESA gross profit per vehicle sold increased 10% to $274 for the quarter ended September 30, 2021, compared with $249 for the quarter ended September 30, 2020.

Investments in Early-Stage Automotive Companies

The company invests in certain early-stage automotive companies and funds that relate to the automotive industry. We believe these investments have resulted in the expansion of relationships in the vehicle remarketing industry. Realized gains on these investments were $10.0 million and $27.2 million for the three and nine months ended September 30, 2021, respectively. The company had a net reduction in unrealized gains on investment securities of

$20.9 million for the three months ended September 30, 2021 and a net increase in unrealized gains on investment securities of $10.7 million for the nine months ended September 30, 2021.

Sanjeev Mehra Elected to Board of Directors

The company also announced the election of Sanjeev Mehra to KAR’s Board of Directors. Mehra currently serves as managing partner of Periphas Capital, which he co-founded after a 31-year career at Goldman, Sachs & Co. Mehra held a number of leadership roles during his tenure at Goldman Sachs, including serving as vice chairman of the global private equity business, as co-head of US private equity, and as head of its operating committee. Mehra, who has served on the boards of more than 25 companies, previously served on KAR’s Board from 2007 to 2013.

“Sanjeev brings deep experience investing in and advising companies spanning many different industries, and has a strong track record fostering growth, transformational change and operational efficiency,” said Kelly. “We are thrilled to welcome Sanjeev back to KAR’s Board and will benefit from his insights and expertise as we capture the opportunity ahead of us.”

Earnings Conference Call Information

KAR will be hosting an earnings conference call and webcast on Wednesday, November 3, 2021 at 8:30 a.m. EDT. The call will be hosted by KAR's Chief Executive Officer, Peter Kelly and Executive Vice President and Chief Financial Officer, Eric Loughmiller. The conference call may be accessed by calling 1-844-778-4145 and entering participant passcode 2698167, while the live web cast will be available at the investors section of www.karglobal.com. Supplemental financial information for KAR’s third quarter 2021 results is available at the investors section of www.karglobal.com.

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