PENSKE AUTOMOTIVE GROUP COMPLETES ACQUISITION OF FERRARI DEALERSHIP IN NORTHERN ITALY

Ferrari Modena Complements Existing Luxury Brand Presence in Italy

Strengthens Worldwide Penske/Ferrari Relationship

BLOOMFIELD HILLS, Mich., July 3, 2025 -- Penske Automotive Group, Inc. , a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers with operations across four continents and eight countries, has completed the acquisition of a Ferrari dealership in Modena, Italy.  Located in Emilia Romagna, the heart of the Italian Motor Valley, this Ferrari dealership expands the Company's existing luxury presence in Italy to 29 automotive retail locations.  Penske Automotive Group now represents nine Ferrari locations worldwide, including Maranello Classic Parts, the only official Ferrari classic parts distributor in the world.  The expected estimated annualized revenue of the Modena location is $40 million.

Commenting on the acquisition, Penske Automotive Group Head of International Operations Randall Seymore said, "We are honored to represent the Ferrari brand at such an iconic location in Italy.  Our luxury brand presence in northern Italy, strong reputation and experienced leadership team will help us provide exceptional service to Ferrari customers.  We welcome the Ferrari brand in Italy, its customers and its existing employees to our team."

About Penske Automotive
Penske Automotive Group, Inc., headquartered in Bloomfield Hills, Michigan, is a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers. PAG operates dealerships in the United States, the United Kingdom, Canada, Germany, Italy, Japan, and Australia and is one of the largest retailers of commercial trucks in North America for Freightliner. PAG also distributes and retails commercial vehicles, diesel and gas engines, power systems, and related parts and services principally in Australia and New Zealand. PAG employs over 28,700 people worldwide. Additionally, PAG owns 28.9% of Penske Transportation Solutions ("PTS"), a business that employs over 44,500 people worldwide, manages one of the largest, most comprehensive and modern trucking fleets in North America with over 428,000 trucks, tractors, and trailers under lease, rental, and/or maintenance contracts and provides innovative transportation, supply chain, and technology solutions to its customers. PAG is a member of the S&P Mid Cap 400, Fortune 500, Russell 1000, and Russell 3000 indexes. For additional information, visit the Company's website at www.penskeautomotive.com.