Lithia Motors Announces Move to Virtual-Only Annual Shareholder Meeting for 2020

Lithia Motors, Inc. (NYSE: LAD) (the "Company") today announced that due to the emerging public health impact of COVID-19, the Board of Directors has authorized participation via remote communication and moved to a virtual-only format for the Company's 2020 Annual Meeting of Shareholders (the "Annual Meeting").

As previously announced, the Annual Meeting will be held on Thursday, April 23, 2020 at 8:30 a.m., Pacific Daylight Time, however, in light of public health concerns, the 2020 Annual Meeting will occur online in a virtual format only, via live webcast at www.virtualshareholdermeeting.com/LAD2020 (the "2020 Annual Meeting Website"). To be admitted to the Annual Meeting at the 2020 Annual Meeting Website, shareholders must enter the control number found on their proxy card, voting instruction form or notice that was previously issued. Shareholders will not be able to attend the Annual Meeting physically but will have the same rights and opportunities to participate as they would at an in-person meeting. Registered shareholders who have misplaced their original proxy materials listing their unique control number can find that information by visiting www.shareholder.broadridge.com/bcis/ and selecting the option to create a profile in the top right-hand corner.

For additional information regarding how shareholders may access, vote and participate in the virtual Annual Meeting, please refer to the Company's supplemental proxy materials filed today with the Securities and Exchange Commission and the 2020 Annual Meeting Website.

About Lithia

Lithia Motors, Inc. is one of the largest providers of personal transportation solutions in the United States and is among the fastest growing companies in the Fortune 500 (#265-2019). Lithia is a growth company powered by people and innovation. By purchasing and building strong businesses that have yet to realize their potential, Lithia generates significant cash flows with low leverage. Operational excellence is achieved by refocusing the business on the consumer experience and by utilizing proprietary performance measurements to increase market share and profitability. Lithia's unique growth model invests to expand its nationwide network and to fund innovations that create personal transportation solutions wherever, whenever and however consumers desire.

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