Penske Automotive Group, Inc. announced that on December 16, 2021, Masashi Yamanaka resigned from the Board of Directors and the Board of Directors filled the vacancy created by Yamanaka’s resignation by appointing Kota Odagiri as a director. Odagiri is an employee of Mitsui and has spent the last 29 years with Mitsui and its affiliates in various capacities, most recently serving as the Chairman and Managing Director of Bussan Auto Finance India Pvt. Ltd. from April 2020 to December 2021. From March 2019 to March 2020, he served as Deputy Managing Director of India Yamaha Motor Pvt. Ltd. and from April 2017 to February 2019, he served as General Manager, Group Management Framework Department in Mitsui’s First Motor Vehicles Division. From January 2015 to March 2017, he served as General Manager, Yamaha Business Department in Mitsui’s Third Motor Vehicles Division. Mr. Odagiri will not receive any compensation from the Company for serving as its director.