Automotive Aftermarket Stock Performance...manny, moe & Jack (NYSe:PBY) for $15 per share, representing a premium of approximately 23% over the company’s closing share price of $12.15

1

Automotive AftermArket

Weekly Automotive Aftermarket Intelligence ReportOctober 27, 2015

Automotive Aftermarket Stock Performance*

Percent Change1 Week 1 Month YTD

Manufacturers 2.9% 10.5% 12.4% 3.0% 5.3% 20.4% 1.6% 0.7% 0.9% 1.0% 0.1% 3.4% 3.9% 7.0% 27.2% 2.1% 7.0% 0.8%

Retailers & DistributorsProfessional InstallersCollision

Automotive AftermarketS&P 500

1 Weighted by market capitalization

Segment Index 1

S&P 500Last Month Return

7.0%

S&P 500Last Week Return

2.1%

(10%) (5%) 0% 5% 10% 15%

(10%)

(5%)

0%

5%

10%

15%

20%

SMP

Snap-On

Remy

Federal Mogul

MPA

Goodyear

Dorman

Cooper Tire

Axalta

Solera

LKQ

KARCopart

Boyd

Sonic

Rush

Penske

Monro

Lithia Motors Inc.

Group 1

CarMax

Auto Nation

Asbury

U.S. Auto Parts

Uni-Select

Pep Boys

O’Reilly

GPC

AutoZone

Advance Auto

Horizon Global

Last

Mon

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Last Week’s Return

3.57 3.62 3.69 3.66 3.65 3.54 3.36 3.26 3.29 3.33 3.38 3.55 3.67

3.57 3.62 3.69 3.66 3.65 3.54 3.36 3.26 3.29 3.33 3.38 3.55 3.67

3.57 3.62 3.69 3.66 3.65 3.54 3.36 3.26 3.29 3.33 3.38 3.55 3.67

3.57 3.62 3.69 3.66 3.65 3.54 3.36 3.26 3.29 3.33 3.38 3.55 3.67

tenneco (not shown above) had one week and one month returns of 14.5% and 27.6%, respectively. on July 13, 2015, BorgWarner (NYSe:BWA) announced that it would acquire remy international, inc. (NasdaqGS:remY) for $29.50 per share in cash, representing a premium of approximately 43% over the company’s closing share price of $20.53 on July 10, 2015.

on october 26, 2015, Bridgestone Corp. (tSe:5108) announced that it would acquire Pep Boys – manny, moe & Jack (NYSe:PBY) for $15 per share, representing a premium of approximately 23% over the company’s closing share price of $12.15 on october 23, 2015.

on September 13, 2015, vista equity Partners announced that it would acquire Solera Holdings for $55.85 per share in cash, representing a premium of approximately 53% over the company’s closing share price of $36.39 on August 3rd

*Size of the bubble represents relative market capitalization

Source: CapitaliQ

2

Automotive Aftermarket Stock Performance

Most Recent Quarter Sales Growth (Year-over-Year)

Source: Capital iQ

(10%)

(20%)

0%

10%

20%

30%

40%

50%

60%

70%

1.3%

36.3%

4.8%

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(2.9%)

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(1.2%) (2.7%) (1.6%) (0.6%)

(14.7%)

(1.8%)

2.6% 1.0%

12.4%7.9% 10.2%

0.1%

8.1%14.0%

9.1% 7.9% 8.6%

60.7%

37.4%

3.0%4.3%

12.2%

0.1%

12.4% 10.9%7.5%

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Oct-15Sep-15Aug-15Jul-15Jun-15May-15Apr-15Mar-15Feb-15Jan-15Dec-14Nov-14Oct-14

Suppliers

Independent Service Providers & Dealers

BB&T Automotive Aftermarket Index

Retailers & Distributors

Collision

S&P 500 Index

Source: Capital iQ

3

SuPPlieRS

indePendent SeRvice PRovideRS & deAleRS

RetAileRS & diStRibutoRS

colliSion

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5-Year Average

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2.0x

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1 enterprise value = market Capitalization + Debt – Cash; eBitDA = earnings Before interest, taxes, Depreciation, and Amortization2 Pep Boys is included in both retailers & Distributors and independent Service Providers & Dealers3 kAr is included in both retailers & Distributors and CollisionSource: Capital iQ

enterprise value / last 12 Months’ ebitdA Multiples1,2,3

4

Stock 52 Week Market Price / P / E Forward PEG TEV / Revenue TEV / EBITDATicker Price High / Low Cap TEV TBV LTM CY 2015 CY 2016 CY 2015 CY 2016 LTM CY 2015 CY 2016 LTM CY 2015 CY 2016

SuPPLIERSAxalta Coating Systems Ltd. AXTA $29.59 $36.50 / $20.11 $7,003 $10,327 NM NM 27.0x 22.0x 1.9x 1.5x 2.4x 2.4x 2.3x 11.6x 11.7x 10.8x

Cooper Tire & Rubber Co. CTB $42.52 $43.94 / $29.51 2,411 2,358 3.2x 11.6x 13.4x 13.1x 4.5x 4.4x 0.7x 0.8x 0.8x 4.5x 5.4x 5.3x

Dorman Products, Inc. DORM $51.49 $53.75 / $40.05 1,833 1,766 3.9x 21.3x 19.5x 17.1x 1.4x 1.2x 2.3x 2.2x 2.0x 11.6x 10.8x 9.5x

Federal-Mogul Holdings Corporation FDML $8.10 $16.72 / $6.54 1,415 4,198 NM 15.6x 9.4x 8.2x NA NA 0.6x 0.5x 0.5x 6.8x 6.7x 5.8x

The Goodyear Tire & Rubber Company GT $33.10 $33.22 / $20.23 8,882 14,142 2.7x 14.1x 10.8x 9.1x NA NA 0.8x 0.9x 0.8x 6.0x 5.6x 5.3x

Horizon Global Corporation HZN $9.16 $15.88 / $8.50 166 359 NM 18.0x 9.2x 8.2x 0.7x 0.7x 0.6x 0.6x 0.6x 9.7x 7.8x 6.1x

Motorcar Parts of America, Inc. MPAA $33.72 $36.62 / $22.12 621 642 3.3x NM 19.6x 15.6x 0.9x 0.8x 2.0x 2.0x 1.7x NM 9.8x 7.9x

Remy International, Inc. REMY $29.47 $29.73 / $16.31 938 1,185 NM 37.4x 18.1x 15.3x 1.4x 1.2x 1.0x 1.1x 1.0x 9.2x 9.2x 7.7x

Snap-on Incorporated SNA $163.00 $170.70 / $125.00 9,524 10,361 7.0x 22.9x 20.3x 17.9x 1.3x 1.1x 2.9x 3.1x 2.9x 12.7x 13.5x 12.0x

Standard Motor Products Inc. SMP $38.23 $43.72 / $30.30 887 927 3.0x 17.8x 16.2x 13.8x 1.1x 0.9x 1.0x 0.9x 0.9x 8.2x 9.2x NA

Tenneco Inc. TEN $54.53 $61.73 / $39.13 3,327 4,520 7.4x 14.4x 11.8x 10.4x 1.1x 1.0x 0.6x 0.5x 0.5x 6.2x 5.8x 5.4x

MEAn $3,000 $4,046 4.4x 19.2x 14.8x 12.9x 1.6x 1.4x 1.2x 1.3x 1.2x 8.3x 8.4x 7.2x

MEDIAn $1,624 $2,062 3.3x 17.8x 14.8x 13.4x 1.2x 1.0x 0.9x 0.9x 0.9x 8.2x 8.5x 6.1x

RETAILERS & DISTRIBuToRSAdvance Auto Parts Inc. AAP $192.27 $196.09 / $137.17 $14,053 $15,392 24.1x 24.3x 23.2x 19.6x 1.6x 1.4x 1.5x 1.6x 1.5x 12.0x 11.8x 10.3x

AutoZone, Inc. AZO $767.13 $767.13 / $535.05 23,370 27,819 NM 22.0x 21.4x 18.9x 1.6x 1.4x 2.7x 2.7x 2.6x 12.7x 12.5x 11.8x

Genuine Parts Company GPC $89.82 $109.00 / $78.76 13,521 13,959 7.4x 19.5x 19.5x 18.2x 2.6x 2.4x 0.9x 0.9x 0.9x 10.9x 10.8x 10.4x

KAR Auction Services, Inc. KAR $37.94 $39.87 / $29.02 5,291 7,927 NM 25.6x 21.7x 18.8x 1.6x 1.4x 3.2x 3.1x 2.9x 12.7x 12.1x 11.1x

O'Reilly Automotive Inc. ORLY $260.39 $260.39 / $170.01 25,848 26,985 21.3x 32.0x 29.4x 25.9x 1.7x 1.5x 3.6x 3.4x 3.2x 16.7x 16.0x 14.6x

Pep Boys - Manny, Moe & Jack PBY $12.15 $12.94 / $8.00 656 923 1.3x NM NM NM NM NM 0.4x 0.4x 0.4x 10.6x 9.3x 8.8x

U.S. Auto Parts Network, Inc. PRTS $2.05 $3.34 / $1.50 70 84 4.0x NM NM NM NM NM 0.3x 0.3x 0.3x 21.8x 10.9x 8.3x

Uni-Select Inc.1 UNS $45.83 $48.06 / $21.05 992 1,021 4.2x 22.6x 18.8x 18.9x 18.8x 18.9x 0.6x 0.8x 0.9x 11.6x 11.0x 11.0x



InDEPEnDEnT SERVICE PRoVIDERS & DEALERSAsbury Automotive Group, Inc. ABG $80.42 $96.58 / $66.03 $2,045 $3,648 11.1x 14.7x 14.2x 12.7x 0.8x 0.7x 0.6x 0.6x 0.5x 11.1x 10.9x 10.2x

AutoNation, Inc. AN $61.53 $67.50 / $51.63 6,986 12,370 12.7x 15.7x 14.8x 13.2x 0.8x 0.8x 0.6x 0.6x 0.6x 12.6x 12.0x 11.2x

CarMax Inc. KMX $58.57 $75.40 / $53.56 11,763 21,497 3.7x 19.6x 22.5x 18.9x 1.5x 1.2x 1.5x 1.5x 1.4x 18.3x 19.9x 17.6x

Group 1 Automotive Inc. GPI $87.06 $97.34 / $74.45 2,093 4,685 NM 12.1x 12.1x 11.0x 0.9x 0.8x 0.5x 0.4x 0.4x 11.4x 11.7x 10.9x

Lithia Motors Inc. LAD $116.38 $121.53 / $71.30 3,056 4,868 7.2x 17.7x 16.7x 15.2x 0.8x 0.7x 0.6x 0.6x 0.6x 13.8x 13.3x 11.9x

Monro Muffler Brake Inc. MNRO $75.15 $76.09 / $47.78 2,353 2,657 4.6x 37.1x 39.8x 34.8x 2.5x 2.2x 2.9x 2.9x 2.7x 16.8x 18.6x 15.7x

Penske Automotive Group, Inc. PAG $50.59 $54.39 / $41.75 4,579 8,780 NM 15.4x 13.2x 12.0x 1.0x 0.9x 0.5x 0.5x 0.4x 13.3x 13.4x 12.4x

Pep Boys - Manny, Moe & Jack PBY $12.15 $12.94 / $8.00 656 923 1.3x NM NM NM NM NM 0.4x 0.4x 0.4x 10.6x 9.3x 8.8x

Rush Enterprises, Inc. RUSH.B $31.33 $31.64 / $19.58 1,333 2,464 3.6x 25.9x 16.1x 13.9x NA NA 0.7x 0.6x 0.5x 13.1x 14.0x 11.4x

Sonic Automotive Inc. SAH $22.42 $27.84 / $20.24 1,143 3,280 8.7x 11.9x 11.7x 10.5x 1.1x 1.0x 0.4x 0.3x 0.3x 11.3x 11.5x 10.7x



CoLLISIonBoyd Group Income Fund1 BYD.UN $50.82 $52.74 / $30.99 $844 $911 NM 29.2x 31.4x 25.4x 1.2x 1.0x 1.1x 1.1x 1.0x 14.4x 12.9x 11.3x

Copart, Inc. CPRT $35.76 $38.50 / $32.37 4,292 4,482 6.6x 22.7x 22.1x 19.5x 1.6x 1.4x 3.9x 3.9x 3.8x 11.5x 11.3x 10.4x

KAR Auction Services, Inc. KAR $37.94 $39.87 / $29.02 5,291 7,927 NM 25.6x 21.7x 18.8x 1.6x 1.4x 3.2x 3.1x 2.9x 12.7x 12.1x 11.1x

LKQ Corp. LKQ $28.31 $32.25 / $22.90 8,623 10,175 19.6x 21.9x 20.1x 17.5x 1.0x 0.9x 1.4x 1.4x 1.3x 12.3x 12.0x 10.4x

Solera Holdings Inc. SLH $54.02 $58.19 / $36.14 3,620 6,081 NM 45.3x 17.5x 18.2x 1.9x 2.0x 5.3x 5.4x 4.8x 14.7x 13.2x 12.5x



valuation MetricsAs of 10/25/2015($ in millions, except per share)

1 Stock Prices, market Cap, and enterprise values converted at the exchange rate as of the date above* Definitions: Ltm = Last twelve months; eBitDA = earnings Before interest, taxes, Depreciation, and Amortization; P / e = Stock Price / earnings Per Share; tev = total enterprise value

tBv = tangible Book value; PeG = (Calendarized P / e) / Long term Growth rateSources: Capital iQ, Company filings

5

net Margins Sales Growth EBITDA Growth SSSTicker LTM Date Revenue EBITDA EBIT Income Gross EBITDA EBIT nI 1 Year 5 Year 1 Year 5 Year Latest Q

SuPPLIERSAffinia Group Intermediate Holdings Inc.1 N/A 06/30/15 $1,352 $159 $138 $53 23.6% 11.8% 10.2% 3.9% 12.9% (6.6%) 23.3% (1.0%)

Axalta Coating Systems Ltd. AXTA 06/30/15 4,301 892 586 (2) 35.4% 20.7% 13.6% (0.0%) (1.8%) NA 20.8% NA

Cooper Tire & Rubber Co. CTB 06/30/15 3,155 522 394 230 20.6% 16.6% 12.5% 7.3% (6.6%) 0.1% 9.5% 7.8%

Dorman Products, Inc. DORM 06/27/15 759 152 139 88 38.5% 20.0% 18.3% 11.6% 4.3% 13.2% (0.1%) 17.2%

Federal-Mogul Holdings Corporation FDML 06/30/15 7,463 569 232 (192) 13.8% 7.6% 3.1% (2.6%) 6.1% 4.9% (6.6%) 0.4%

The Goodyear Tire & Rubber Company GT 06/30/15 17,209 2,366 1,655 2,706 24.8% 13.7% 9.6% 15.7% (9.0%) (0.5%) 7.4% 9.3%

Horizon Global Corporation HZN 06/30/15 586 37 19 6 23.9% 6.3% 3.2% 1.0% NA NA NA NA

Motorcar Parts of America, Inc. MPAA 06/30/15 325 38 35 9 27.7% 11.7% 10.9% 2.9% 19.6% 16.6% (6.0%) 7.8%

Remy International, Inc. REMY 06/30/15 1,149 129 59 12 15.9% 11.2% 5.1% 1.0% (3.1%) 2.7% (3.1%) (1.3%)

Snap-on Incorporated SNA 10/03/15 3,595 814 746 464 50.5% 22.6% 20.7% 12.9% 5.1% 6.8% 12.7% 16.4%

Standard Motor Products Inc. SMP 06/30/15 972 113 96 43 28.9% 11.6% 9.9% 4.4% (1.6%) 4.6% (9.9%) 16.6%

Tenneco Inc. TEN 09/30/15 8,182 732 545 200 16.9% 8.9% 6.7% 2.4% (3.1%) 7.6% (3.7%) 8.0%

UCI Holdings Limited1 N/A 06/30/15 1,014 99 48 (41) 12.9% 9.8% 4.7% (4.1%) 13.1% 2.1% (2.7%) 13.7%

MEAn $3,851 $509 $361 $275 25.6% 13.3% 9.9% 4.3% 3.0% 4.7% 3.5% 8.6% nA

MEDIAn $1,352 $159 $139 $43 23.9% 11.7% 9.9% 2.9% 1.4% 4.6% (1.4%) 8.0% nA

RETAILERS & DISTRIBuToRSAdvance Auto Parts Inc. AAP 07/18/15 $9,935 $1,283 $1,005 $505 45.5% 12.9% 10.1% 5.1% 20.5% 11.9% 20.2% 13.5% 0.7%

American Tire Distributors Holdings, Inc.1 N/A 01/03/15 5,031 242 89 (95) 17.6% 4.8% 1.8% (1.9%) 31.1% 18.3% 29.4% 19.4%

AutoZone, Inc. AZO 08/29/15 10,187 2,197 1,953 1,160 52.3% 21.6% 19.2% 11.4% 7.5% 6.7% 5.2% 7.8% 4.5%

Genuine Parts Company2 GPC 09/30/15 15,421 1,277 1,131 710 29.9% 8.3% 7.3% 4.6% 2.6% 7.2% (2.2%) 8.4% 4.0%

KAR Auction Services, Inc. KAR 06/30/15 2,486 622 419 212 44.1% 25.0% 16.9% 8.5% 10.8% NA 30.2% NA

O'Reilly Automotive Inc. ORLY 06/30/15 7,578 1,611 1,402 845 51.8% 21.3% 18.5% 11.2% 9.4% 8.3% 17.4% 15.2% 7.2%

Pep Boys - Manny, Moe & Jack3 PBY 08/01/15 2,089 87 15 (12) 23.2% 4.2% 0.7% (0.6%) 1.0% 1.5% (7.9%) (8.9%) 0.3%

U.S. Auto Parts Network, Inc. PRTS 07/04/15 291 4 (5) (6) 27.6% 1.3% (1.6%) (2.0%) 9.4% 7.6% (46.8%) (18.0%)

Uni-Select Inc.5 UNS 06/30/15 1,713 92 79 (44) NM 5.3% 4.6% (2.6%) (3.9%) 6.0% 5.6% 4.3% 1.1%

MEAn $6,081 $824 $676 $364 36.5% 11.6% 8.6% 3.8% 9.8% 8.4% 5.7% 5.2% 3.0%

MEDIAn $5,031 $622 $419 $212 37.0% 8.3% 7.3% 4.6% 9.4% 7.4% 5.6% 8.1% 2.6%

InDEPEnDEnT SERVICE PRoVIDERS & DEALERSAsbury Automotive Group, Inc. ABG 09/30/15 $6,451 $329 $300 $140 16.2% 5.1% 4.6% 2.2% 12.4% 12.8% 13.6% 19.5%

AutoNation, Inc. AN 06/30/15 20,125 981 865 450 15.7% 4.9% 4.3% 2.2% 10.9% 11.6% 16.7% 13.7%

CarMax Inc. KMX 08/31/15 14,819 1,173 1,048 627 16.0% 7.9% 7.1% 4.2% 10.9% 12.6% 19.9% 13.0%

Group 1 Automotive Inc. GPI 06/30/15 10,325 412 367 127 14.5% 4.0% 3.6% 1.2% 9.9% 15.6% 26.9% 19.7%

Lithia Motors Inc. LAD 09/30/15 7,664 353 313 176 14.9% 4.6% 4.1% 2.3% 65.8% 31.1% 44.0% 37.1%

Monro Muffler Brake Inc. MNRO 09/26/15 931 158 120 66 40.2% 17.0% 12.9% 7.1% 8.5% 8.5% 12.9% 10.7% (0.4%)

Penske Automotive Group, Inc. PAG 06/30/15 18,167 617 542 316 15.0% 3.4% 3.0% 1.7% 14.6% 12.6% 15.0% 16.1%

Pep Boys - Manny, Moe & Jack4 PBY 08/01/15 2,089 87 15 (12) 23.2% 4.2% 0.7% (0.6%) 1.0% 1.5% (7.9%) (8.9%) 0.3%

Rush Enterprises, Inc. RUSH.B 09/30/15 5,163 286 149 81 15.6% 5.5% 2.9% 1.6% 19.9% 31.3% 19.7% 30.9%

Sonic Automotive Inc. SAH 06/30/15 9,367 291 228 80 14.7% 3.1% 2.4% 0.8% 3.5% 7.7% (2.9%) 6.6%

MEAn $9,510 $469 $395 $205 18.6% 6.0% 4.6% 2.3% 15.7% 14.5% 15.8% 15.8% (0.1%)

MEDIAn $8,515 $341 $307 $133 15.7% 4.7% 3.8% 2.0% 10.9% 12.6% 15.8% 14.9% (0.1%)

CoLLISIonBoyd Group Income Fund5 BYD.UN 06/30/15 $816 $67 $49 ($2) 45.9% 8.2% 5.9% (0.2%) 46.0% 36.8% 63.6% 41.4% 5.8%

Copart, Inc. CPRT 07/31/15 1,146 389 345 220 44.4% 33.9% 30.1% 19.2% (1.5%) 8.2% 7.5% 6.6% 5.6%

KAR Auction Services, Inc. KAR 06/30/15 2,486 622 419 212 44.1% 25.0% 16.9% 8.5% 10.8% NA 30.2% NA

LKQ Corp. LKQ 06/30/15 7,017 831 702 399 39.2% 11.8% 10.0% 5.7% 17.9% 25.7% 15.1% 21.3% 7.5%

Solera Holdings Inc. SLH 06/30/15 1,141 413 251 (101) 65.7% 36.2% 22.0% (8.8%) 15.6% 12.6% 9.6% 9.5%

MEAn $2,521 $464 $353 $146 47.8% 23.0% 17.0% 4.9% 17.8% 20.8% 25.2% 19.7% 6.3%

MEDIAn $1,146 $413 $345 $212 44.4% 25.0% 16.9% 5.7% 15.6% 19.1% 15.1% 15.4% 5.8%

operating ResultsLast 12 months as of 10/25/2015($ in millions, except per share)

1 Affinia Group, American tire Distributors, and uCi international have publicly traded debt only and thus are included in operating and performance metrics, but not valuation multiples2 Same Store Sales for Genuine Parts reflects automotive segment only3 Same Store Sales reflect Pep Boys’ merchandise business only4 Same Store Sales reflect Pep Boys’ service business only5 reported results converted at the exchange rate as of the above date6 Same Store Sales reflect Copart’s organic comp growth7 Same Store Sales reflect LkQ’s organic growth for parts and services* Definitions: Ltm = Last twelve months; eBitDA = earnings Before interest, taxes, Depreciation, and Amortization; eBit = earnings Before interest & taxes; Ni = Net income

SSS = Same Store Sales, where applicableSources: Capital iQ, Company filings

6

1 Affinia Group, American tire Distributors, and uCi international have publicly traded debt only and thus are included in operating and balance sheet metrics, but not valuation multiples * Definitions: eBitDA = earnings Before interest, taxes, Depreciation, and Amortization; Acct. rec. Days outstanding = Accounts receivable / Sales * Days; inventory Days outstanding = inventory / Cost of Goods Sold

* Days; Days Payable outstanding = Accounts Payable / Cost of Goods Sold * Days; Cash Conversion = Acct. rec. Days outstanding + inventory Days outstanding - Days Payable outstanding; Debt / Capital = total Debt / (total Debt + Book value of equity); interest Coverage = eBitDA / interest expense

Sources: Capital iQ, Bloomberg, Company filings

Days outstanding Cash Total Debt / Debt / Interest Current Quick S&P DebtTicker A / R Inventory A / P Conversion Debt Capital EBITDA Coverage Ratio Ratio Rating outlook

SuPPLIERSAffinia Group Intermediate Holdings Inc.1 N/A 33.5 74.6 48.5 59.5 $822 140.5% 5.2x 2.6x 1.3x 0.4x B Stable

Axalta Coating Systems Ltd. AXTA 60.9 74.3 64.3 70.8 3,562 76.2% 4.0x 3.7x 2.2x 1.2x NA NA

Cooper Tire & Rubber Co. CTB 51.9 82.4 46.9 87.4 314 24.9% 0.6x 13.6x 3.0x 1.7x BB- Positive

Dorman Products, Inc. DORM 92.4 149.1 47.9 193.6 0 NA NA NA 5.2x 2.8x NA NA

Federal-Mogul Holdings Corporation FDML 74.6 70.1 50.2 94.4 2,919 72.6% 5.1x 0.8x 1.7x 0.9x B- Stable

The Goodyear Tire & Rubber Company GT 55.9 80.0 84.2 51.7 6,103 56.2% 2.6x 3.3x 1.6x 0.9x BB Stable

Horizon Global Corporation HZN NA NA NA NA 210 99.1% 5.7x NM 1.7x 0.8x B Stable

Motorcar Parts of America, Inc. MPAA 10.4 94.4 88.1 16.7 40 16.8% 1.0x 1.9x 1.0x 0.2x NA NA

Remy International, Inc. REMY 75.0 71.7 72.1 74.6 349 37.8% 2.7x 5.8x 1.9x 1.1x BB- NM

Snap-on Incorporated SNA 64.1 109.8 36.4 137.5 938 28.3% 1.2x 14.0x 2.5x 1.5x A- Stable

Standard Motor Products Inc. SMP 57.2 150.4 48.3 159.3 53 12.1% 0.5x NM 1.8x 0.6x NA NA

Tenneco Inc. TEN 56.3 39.6 74.9 21.0 1,341 72.1% 1.8x 5.4x 1.4x 0.8x BB+ Stable

UCI Holdings Limited1 N/A 69.3 84.0 57.8 95.5 716 81.1% 7.2x 1.3x 1.9x 0.7x CCC+ Stable

MEAn 58.5 90.0 60.0 88.5 $1,336 59.8% 3.1x 5.2x 2.1x 1.1x

MEDIAn 59.1 81.2 54.0 81.0 $716 64.1% 2.6x 3.5x 1.8x 0.9x

RETAILERS & DISTRIBuToRSAdvance Auto Parts Inc. AAP 15.5 275.9 206.3 85.1 $1,454 38.8% 1.1x 14.9x 1.3x 0.2x BBB- Stable

American Tire Distributors Holdings, Inc.1 N/A 25.0 82.7 54.9 52.9 1,824 74.5% 7.5x 1.3x 1.8x 0.5x NA NA

AutoZone, Inc. AZO NA 245.7 264.5 NA 4,625 158.2% 2.1x 14.6x 0.8x 0.0x BBB Stable

Genuine Parts Company GPC 46.6 101.0 91.5 56.0 625 16.5% 0.5x NM 1.5x 0.6x NA NA

KAR Auction Services, Inc. KAR 261.8 NA 150.8 NA 2,840 64.4% 4.6x 6.0x 1.2x 1.1x BB- Stable

O'Reilly Automotive Inc. ORLY 8.0 251.0 235.4 23.6 1,397 41.5% 0.9x NM 1.0x 0.2x BBB+ Stable

Pep Boys - Manny, Moe & Jack PBY 5.0 147.1 50.2 101.9 330 37.7% 3.8x 2.7x 1.3x 0.1x B Stable

U.S. Auto Parts Network, Inc. PRTS 4.4 70.7 38.3 36.8 18 45.1% 4.6x NM 1.3x 0.2x NA NA

Uni-Select Inc. UNS 42.1 112.7 83.2 71.6 109 19.9% 1.2x 6.8x 1.6x 0.8x NA NA

MEAn 51.1 160.9 130.6 61.1 $1,469 55.2% 2.9x 7.7x 1.3x 0.4x

MEDIAn 20.3 129.9 91.5 56.0 $1,397 41.5% 2.1x 6.4x 1.3x 0.2x

InDEPEnDEnT SERVICE PRoVIDERS & DEALERSAsbury Automotive Group, Inc. ABG 5.6 56.5 15.8 46.3 $1,608 83.6% 4.9x 4.7x 1.1x 0.2x BB+ Stable

AutoNation, Inc. AN 5.3 64.6 5.4 64.6 5,450 70.5% 5.6x 5.2x 1.0x 0.2x BBB- Stable

CarMax Inc. KMX 2.6 51.5 12.2 41.9 9,835 75.4% 8.4x NM 2.5x 0.2x NA NA

Group 1 Automotive Inc. GPI 4.1 65.6 12.0 57.7 2,616 72.3% 6.3x 3.5x 1.0x 0.2x BB+ Stable

Lithia Motors Inc. LAD 11.5 65.2 3.6 73.1 1,845 70.1% 5.2x 9.2x 1.2x 0.2x NA NA

Monro Muffler Brake Inc. MNRO NA 90.6 NA NA 305 37.5% 1.9x 11.6x 1.2x 0.0x NA NA

Penske Automotive Group, Inc. PAG 14.2 67.0 10.8 70.5 4,210 70.3% 6.8x 4.2x 1.0x 0.2x BB Stable

Pep Boys - Manny, Moe & Jack PBY 5.0 147.1 50.2 101.9 330 37.7% 3.8x 2.7x 1.3x 0.1x B Stable

Rush Enterprises, Inc. RUSH.B 13.0 85.6 11.2 87.5 1,582 65.5% 5.4x NM 1.1x 0.2x NA NA

Sonic Automotive Inc. SAH 12.1 62.7 5.0 69.8 2,140 75.7% 7.3x 1.3x 1.1x 0.2x BB Stable

MEAn 8.2 75.6 14.0 68.1 $2,992 65.9% 5.6x 5.3x 1.2x 0.1x

MEDIAn 5.6 65.4 11.2 69.8 $1,992 70.4% 5.5x 4.4x 1.2x 0.1x

CoLLISIonBoyd Group Income Fund BYD.UN 20.4 9.0 65.8 NM $124 0.5x 1.9x 6.8x 1.0x 0.8x NA NA

Copart, Inc. CPRT 22.2 4.5 34.2 NM 646 0.4x 1.7x 17.1x 3.4x 2.5x NA NA

KAR Auction Services, Inc. KAR 261.8 NA 150.8 NA 2,840 0.6x 4.6x 6.0x 1.2x 1.1x BB- Stable

LKQ Corp. LKQ 33.2 117.6 33.2 117.6 1,695 0.4x 2.0x 11.1x 3.3x 1.1x BB+ Stable

Solera Holdings Inc. SLH 49.6 NA 38.1 NA 2,484 0.8x 6.0x 2.9x 2.2x 2.0x BB- NM

MEAn 77.4 43.7 64.4 117.6 $1,558 53.9% 3.2x 8.8x 2.2x 1.5x

MEDIAn 33.2 9.0 38.1 117.6 $1,695 50.3% 2.0x 6.8x 2.2x 1.1x

balance Sheet MetricsAs of 10/25/2015($ in millions, except per share)

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MileS tRAveled And AveRAGe GASoline PRice PeR GAllon1

1 Data computed with the federal Highway Administration Statistics table focusing on highway-going registered motor vehicles Sources: fHWA, u.S. energy information Administration

What We Are Hearing from the Road

-3.0%

-2.0%

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0.0%

1.0%

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3.0%

4.0%

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6.0%

7.0%

Jul-15Jun-15May-15Apr-15Mar-15Feb-15Jan-15Dec-14Nov-14Oct-14Sep-14Aug-14Jul-14

Gasoline Prices

Average Gasoline Prices Per GallonYe

ar-O

ver-

Year

Cha

nge

in M

iles

Tra

vele

d

Vehicle Miles Traveled

$2.00

$2.50

$3.00

$3.50

$4.00

$4.50

$5.00

2.0% 2.1%

0.6%

4.6%

6.0%

4.0% 4.1%

5.0% 5.1% 5.1%

6.4%

1.3%

0.3%

3.7%

5.4%

0.4%

1.7%

9.0%

1.3%

7.7%

(2.3%)

3.7%

7.0%

9.0%

6.7%

8.3%

7.1%6.3%

7.5%

0.1%

1.7%1.7%2.1%

0.4%1.0%

2.3% 2.6% 2.8%3.3%

2.9% 3.3%

0.3%

3.2%2.8%

(0.3%)

0.7%1.2%

(2.1%)

0.5%

5.9%

(2.8%)

(0.7%)

0.4%

(2.2%)

(0.6%)

4.9%

(3.3%)

0.6%

(4.0%)

(2.0%)

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

Q2'15Q1'15Q4'14Q3'14Q2'14Q1'14Q4'13Q3'13Q2'13Q1'13Q4'12Q3'12Q2'12Q1'12Q4'11

Retailers and Distributors Independent Service Providers Collision

SAMe StoRe SAleS GRoWtH*

*Same Store Sales growth measures revenue growth for stores that have been open for at least one yearretailers & Distributors include: Advance Auto Parts, AutoZone, GPC (NAPA), o’reilly Automotive, uni-Select, and Pep Boysindependent Service Providers include: monro muffler Brake and Pep BoysCollision includes: Copart, Boyd Group, and LkQ. LkQ and Copart report organic comp sales – LkQ reports comp growth on a distribution center and Copart does so on an established, mature location that has repeat salesSources: Capital iQ, Company filings

Driven Brands Acquires CARSTAR: Charlotte, North Carolina-based automotive franchise operator Driven Brands inc., a portfolio company of Atlanta, Georgia-based private equity firm roark Capital Group, announced on october 22, 2015 that it had acquired Leawood, kansas-based collision repair facilities operator CArStAr Auto Body repair experts. financial terms of the transaction were not disclosed.

founded in 1989, CArStAr is one of the largest multi-shop networks of independently owned collision repair facilities in the united States and operates nearly 250 locations in 30 states. following the acquisition, Driven Brands will create a new division called Paint & Collision, which will consist of CArStAr as well as the Driven Brands-owned maaco and Drive N Style brands.

Kraco Acquires Who-Rae: Compton, California-based automotive aftermarket accessories supplier kraco enterprises, LLC, a portfolio company of Boca raton, florida-based private equity firm Sun Capital Partners, inc., announced on october 21, 2015 that it had acquired South melbourne, Australia-based aftermarket accessories manufacturer Who-rae Pty Ltd. financial terms of the transaction were not disclosed.

founded in 2002, Who-rae manufactures and distributes aftermarket products including seat covers, floor mats, and sun shades under the Who-rae, ergo-Drive, and 2Air brands. the company also distributes a range of licensed products from brands such as Dickies, Stanley, and Celessence. the acquisition provides kraco with an expanded product offering and broader global reach.

8

Recent Mergers & AcquisitionsClose Date Target Buyer (Sponsor) Transaction Details

Pending Truck-Lite Co., LLC Koch Equity Development LLC and BDT Capital Partners LLC

Koch Equity Development LLC, a Wichita, Kansas-based private investment firm, and BDT Capital Partners LLC, a New York, New York-based private investment firm, have entered into a definitive agreement to acquire Truck-Lite Co., LLC, a safety lighting and filtration systems provider based in Falconer, New York.

Pending Solera Holdings Inc. (NYSE:SLH)

Vista Equity Partners Vista Equity Partners, a San Francisco, California-based private equity firm, has entered into a definitive agreement to acquire Solera Holdings Inc. (NYSE:SLH), an auto claims processing software provider based in Westlake, Texas.

Pending 360 Forged, Inc. American Force Wheels Inc. American Force Wheels Inc., a manufacturer of custom wheels, has entered into a definitive agreement to acquire 360 Forged, Inc., a manufacturer of forged wheels based in Miami, Florida.

Pending Affinia Group Holdings Inc. MANN + Hummel Holding GmbH

MANN + Hummel Holding GmbH, a manufacturer of automotive components, has entered into a definitive agreement to acquire Affinia Group Holdings Inc., a manufacturer and distributor of a range of aftermarket products based in Ann Arbor, Michigan.

Pending Covs Parts Pty Ltd. Genuine Parts Company (NYSE:GPC)

Genuine Parts Company (NYSE:GPC) has entered into a definitive agreement to acquire Covs Parts Pty Ltd., a distributor of auto parts, tools, equipment, and consumables for transportation and fleet companies headquartered in Welshpool, Australia.

Pending Remy International Inc. (NasdaqGS:REMY)

BorgWarner Inc. (NYSE:BWA) BorgWarner Inc. (NYSE:BWA) has entered into a definitive agreement to acquire Remy International, Inc. (NasdaqGS:REMY), a Pendleton, Indiana-based designer, manufacturer, and distributor of rotating electrical components for the automotive aftermarket.

10/22/2015 CARSTAR Auto Body Repair Experts (Champlain Capital Management, LLC)

Driven Brands Inc. (Roark Capital Group)

Driven Brands Inc., a portfolio company of Roark Capital Group, has acquired CARSTAR Auto Body Repair Experts, a collision repair facilities operator based in Leawood, Kansas.

10/21/2015 Who-Rae Pty Ltd. Kraco Enterprises, LLC (Sun Capital Partners, Inc.)

Kraco Enterprises, LLC, a portfolio company of Sun Capital Partners, Inc., has acquired Who-Rae Pty Ltd., an aftermarket accessories manufacturer based in South Melbourne, Australia.

10/15/2015 Automotive Inventory Management System

Warren Distributing, Inc. Warren Distributing, Inc. has acquired Automotive Inventory Management System, a warehouse distributor based in Simi Valley, California.

10/15/2015 Interstate Auto Parts Warehouse

Baxter Auto Parts Baxter Auto Parts, an automotive retailer, has acquired Interstate Auto Parts Warehouse, an automotive parts provider based in Salem, Oregon.

10/14/2015 Central City Auto Parts and Xpress Auto Parts

IEH Auto Parts LLC IEH Auto Parts LLC has acquired Central City Auto Parts, an automotive parts distributor based in Cleveland, Tennessee, and Xpress Auto Parts, an automotive parts distributor based in Ft. Myers, Florida.

10/12/2015 United Auto Parts IEH Auto Parts LLC IEH Auto Parts LLC, an aftermarket products distributor, has acquired United Auto Parts, an automotive parts distributor based in Fond Du Lac, Wisconsin.

10/9/2015 Corvette America, Inc. Restoration Parts Unlimited, Inc. (Dubin Clark & Company, Inc.)

Restoration Parts Unlimited, Inc., a portfolio company of Dubin Clark & Company, Inc., has acquired Corvette America, Inc., a manufacturer of Corvette parts and accessories based in Reedsville, Pennsylvania.

10/7/2015 Tri-City Auto Salvage and Butler Auto Sales & Parts

Fenix Parts, Inc. (NasdaqGM:FENX)

Fenix Parts, Inc. (NasdaqGM:FENX) has acquired Tri-City Auto Salvage, an automotive parts distributor based in Greensboro, North Carolina, and Butler Auto Sales & Parts, an automotive parts reseller based in Forest City, North Carolina.

10/5/2015 Carter’s Collision Service, Inc. Service King Paint & Body, LLC (The Blackstone Group)

Service King Paint & Body, LLC, a portfolio company of The Blackstone Group, has acquired Carter’s Collision Service, Inc., an operator of collision repair facilities based in San Diego, California.

10/5/2015 Wolverine Advanced Materials, LLC

ITT Corporation (NYSE:ITT) ITT Corporation (NYSE:ITT) has acquired Wolverine Advanced Materials, LLC, a manufacturer of customized technologies for automotive braking systems and sealing solutions for harsh operating environments based in Dearborn, Michigan.

9/29/2015 Eastern Catalytic AP Exhaust Technologies, LLC (Audax Group, Inc.)

AP Exhaust Technologies, LLC, a portfolio company of Audax Group, Inc., has acquired Eastern Catalytic, a catalytic converter manufacturer and supplier based in Langhorne, Pennsylvania.

9/26/2015 MBW Motorcycle Products, LED Accessory Line of Products

Custom Dynamics LLC Custom Dynamics LLC, an aftermarket accessories manufacturer and supplier, has acquired the LED Accessory Line of Products from MBW Motorcycle Products, a motorcycle lighting products manufacturer based in West Kingston, Rhode Island.

9/23/2015 MSDP Group, LLCv(Z Capital Partners, L.L.C.)

Holley Performance Products, Inc. (Lincolnshire Management, Inc.)

Holley Performance Products, Inc., a portfolio company of Lincolnshire Management, Inc., has acquired MSDP Group, LLC, an automotive performance products marketer and supplier based in El Paso, Texas.

9/14/2015 Driven Performance Brands, Inc. (Dubin Clark & Company, Inc.)

Sentinel Capital Partners Sentinel Capital Partners, a New York-based private equity firm, has acquired Driven Performance Brands, Inc., an aftermarket performance products provider based in Santa Rosa, California.

9/14/2015 Cassidy Auto Trim Classic Soft Trim, Inc. Classic Soft Trim, Inc., a chain of restyling centers owned by Roadwire, has acquired Cassidy Auto Trim, an aftermarket restyling facility based in Houston, Texas.

9/1/2015 The Carlstar Group LLC, Carlstar Belts Business

Timken Company (NYSE:TKR) Timken Company (NYSE:TKR) has entered into a definitive agreement to acquire the Carlstar Belts Business, a manufacturer of rubber belts used in industrial, commercial, and consumer applications based in Franklin, Tennessee.

9/1/2015 IVC Industrial Coatings Inc. PPG Industries, Inc. (NYSE:PPG)

PPG Industries, a manufacturer of coatings for the construction, consumer products, industrial, and transportation industries has acquired IVC Industrial Coatings Inc., a manufacturer of specialty, powder, and liquid coatings.

8/31/2015 Arrowhead Electrical Products, Inc. (Pfingsten Partners, L.L.C.)

The Riverside Company The Riverside Company, a New York-based private equity group, has acquired Arrowhead Electrical Products, Inc., a supplier of non-discretionary aftermarket replacement parts serving a variety of vehicle end markets based in Blaine, Minnesota.

8/28/2015 Lorin Peck Tool Co. National Performance Warehouse Inc.

National Performance Warehouse Inc., a distributor of automotive parts, has acquired The Lorin Peck Tool Co., a distributor of tools and equipment for traditional vehicle, performance, truck, and chemical markets based in Utah.

8/28/2015 Bridgeway Enterprises, Inc. Lund International (Highlander Partners)

Lund International, a portfolio company of Highlander Partners, has acquired the operating assets of Bridgeway Enterprises, Inc. (doing business as "TonnoPro"), a designer and distributor of tonneau covers for light trucks based in Surprise, Arizona.

8/28/2015 Lehman's Garage, Inc. ABRA Auto Body & Glass (Hellman & Friedman)

ABRA Auto Body & Glass, a portfolio company of Hellman & Friedman, has acquired Lehman's Garage, Inc., an automotive maintenance services provider based in Bloomington, Minnesota.

8/25/2015 Hawaii Automotive LLC Lithia Motors Inc. (NYSE:LAD) Lithia Motors Inc. (NYSE:LAD) has acquired Hawaii Automotive LLC, an Acura dealership operator based in Honolulu, Hawaii.

8/18/2015 Coast Distribution Systems Inc. (AMEX:CRV)

LKQ Corporation (NasdaqGS:LKQ)

LKQ Corporation (NasdaqGS:LKQ) has acquired Coast Distribution Systems Inc. (AMEX:CRV), a distributor of replacement parts, supplies, and accessories for recreational vehicles based in Morgan Hill, California.

8/18/2015 C.B. Hoare Auto Parts Limited Uni-Select Inc. (TSX:UNS) Uni-Select Inc. (TSX:UNS) has acquired C.B. Hoare Auto Parts Limited, a wholesaler of automotive parts and paint products operating three locations in Nova Scotia.

9

contact our Automotive Aftermarket investment banking team to find out more.

Joe SparacinoGroup Head of Aftermarket Investment Banking

[email protected]

Mike O’ConnellAssociate

[email protected]

John CoyneAnalyst

[email protected]

Sean WrightAnalyst

[email protected]

William ChamberlinAnalyst

[email protected]

BB&t Capital markets is the leading investment bank to the aftermarket. the firm provides unparalleled industry expertise with best-in-class transaction execution. BB&t Capital markets has the only dedicated aftermarket practice on Wall Street and offers merger and acquisition advisory, capital raising, and a full suite of investment banking services to the entire aftermarket channel and in every niche of the industry.

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Automotive Aftermarket Stock Performance...manny, moe & Jack (NYSe:PBY) for $15 per share, representing a premium of approximately 23% over the company’s closing share price of $12.15