OPENLANE Takes Major Steps Forward with Share Repurchase and Financing

OPENLANE Completes Significant Share Repurchase

CARMEL, Ind., Oct. 8, 2025 - OPENLANE, Inc. (NYSE: KAR), a key player in the digital marketplace for wholesale used vehicles, recently announced a strategic move that reinforces its commitment to delivering shareholder value. The company confirmed the completion of its repurchase of 53% of its Series A Convertible Preferred Stock while simultaneously amending its Credit Agreement to incorporate an additional $550 million in secured term loans to facilitate this transaction.

The news was delivered by Brad Herring, the Executive Vice President and Chief Financial Officer of OPENLANE, who expressed his satisfaction with the financing process, noting that it was substantially oversubscribed. This over-commitment allowed OPENLANE to tighten its pricing and secure a more favorable rate, which further enhances its financial position. Herring remarked, "This level of interest and support from the investment community validates the robust cash-generating profile of our asset-light digital marketplace and highlights OPENLANE's readiness for continued growth."

The repurchase represents a significant step in OPENLANE's growth strategy, focusing on enhancing shareholder value while adapting to market dynamics. By diminishing the quantity of Series A shares in circulation, the company aims to boost the remaining shareholders' stakes, thereby demonstrating confidence in its future performance.

Established as a leader in the online wholesale vehicle sector, OPENLANE connects various parties in the automotive ecosystem, including manufacturers, dealers, and rental companies. Its innovative offerings provide a seamless and transparent transaction experience, which is crucial in an increasingly competitive marketplace. The success of this recent financing underscores the strength of OPENLANE's business model and its ability to create value through digital transformation.

With the funds generated from the new term loans, OPENLANE is positioned not only to enhance its operational capabilities but also to explore further growth opportunities within the evolving automotive landscape. In a market that is progressively leaning towards digital solutions, OPENLANE's asset-light approach proves to be advantageous, allowing swift scalability while keeping costs manageable.

The growing demand for financing in the used vehicle sector, coupled with OPENLANE's strategic initiatives, positions the company for future success. Investors and analysts alike are optimistic about the potential impact of these changes, particularly as the automotive industry continues to evolve rapidly due to technological advancements and changing consumer preferences.

As OPENLANE focuses on executing its strategy effectively, the company remains committed to enhancing long-term shareholder value. It is an exciting time for OPENLANE as it navigates new ventures and adapts to changing market conditions, reinforcing its reputation as an innovator in the digital automotive marketplace.

For more information and updates on OPENLANE, interested parties are encouraged to visit their corporate website at corporate.openlane.com.