Just under half of buyers used multiple devices while shopping for their vehicle 14 % Desktop/ Laptop Smartphone

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1 1 OUR REACH

2 Just under half of buyers used multiple devices while shopping for their vehicle 46 % (46 % New, 46 % Used) Used Multiple Devices While Shopping 14 % (14 % New, 14 % Used) ONLY Used A Mobile Device While Shopping Device Usage (Internet users) 83 % 46 % 31 % Desktop/ Laptop Smartphone Tablet 2 Source: 2016 Car Buyer Journey, IHS Automotive Base: Q99 - Total (n=1,869, MOE +/- 2.3%), New (n=1,098, MOE +/- 3.0%), Used (n=771, MOE +/- 3.5%) Q99. Prior to purchasing your vehicle, which of the following devices did you use to access automotive information, either through the Internet or by using a mobile device?

3 Multi-device shopping skews younger Gen X is most likely to use multiple devices, followed by Millennials Used Multiple Devices 52% 58% 45% 31% Millennial (18-34) Gen X (35-44) Boomer (45-64) Pre-Boomer (65+) 3 Source: 2016 Car Buyer Journey, IHS Automotive Base: Younger Millennial (n=57, MOE +/- 13.0%), Older Millennial (n=292, MOE +/- 5.7%), Millennial (n=349, MOE +/- 5.2%), Gen X (n=347, MOE +/- 5.3%), Boomer (n=852, MOE +/- 3.4%), Pre-Boomer (n=321, MOE +/- 5.5%) Q99. Which of the following devices did you use to help you during the researching and shopping process?

4 Across all buyers, 1 in 4 used a mobile device at the dealership Did They Use A Mobile Device At The Dealership (TOTAL VS. NEW VS. USED) 23 (19 % New, 24 % Used) Of ALL buyers used a % smartphone at a dealership 56 (55 % New, 57 % Used) % Of those used a smartphone to shop used it at a dealership 4 Source: 2016 Car Buyer Journey, IHS Automotive Base: Total (n=835, MOE +/- 3.4%), New (n=459, MOE +/- 4.6%), Used (n=376, MOE +/- 5.1%) Q1407. Did you use your smartphone to do research or shop while you were at any dealership?

5 Multi-device Usage Is Projected to Reach 80% in 2020 Total population will catch up to millennials by 2018 Projected Multi-Device Usage 50% 80% 44% Total Population Millennials 2016F 2017F 2018F 2019F 2020F 5 Source: Cox Automotive Marketing Analytics Forecast

6 Almost everyone shops online, nearly half using their smartphone 88% (85 % New, 90 % Used) Use the Internet to Research & Shop Device Usage (Internet users) 83 % 46 % 31 % Desktop/ Laptop Smartphone Tablet 6 Source: 2016 Car Buyer Journey, IHS Automotive Base: Q99 - Total (n=1,869), New (n=1,098), Used (n=771) Q99. Prior to purchasing your vehicle, which of the following devices did you use to access automotive information, either through the Internet or by using a mobile device?

7 Over 19M Unique Visitors Every Month 1 KBB.COM IS THE MOST USED 3 RD PARTY SITE AMONG NEW AND USED VEHICLE BUYERS 2 7 1: KBB.com Site Data. Average Monthly Visitors. January-March : 2015 IHS/AutoTrader.com Automotive Buyer Influence Study Base: New Buyers (953), Used Buyers (691)

8 Millions KBB.com Reaches Millions of In-Market Shoppers Every Month Mobile and tablet continue to grow * Average Monthly Visits to KBB Online Environments *2016 KBB.com on Desktop KBB.com on Tablet Mobile Platforms Total 8 Source: KBB.com Site Data Monthly Average (Omniture SiteCatalyst), Visits Monthly Average Actuals Jan 2010 Mar 2016.

9 For nearly 90 years, KBB.com has been The Trusted Resource for pricing and valuation information Harris Poll s Online Auto Shopping BRAND OF THE YEAR for 5 consecutive years 1! MOST SEARCHED vehicle shopping brand on Google year after year 2 9 1: KBB.com received the highest numerical Equity Score among Online Auto Shopping brands included in the 2016 Harris Poll EquiTrend Study. Please go to for further details. 2: Google Insights. Annual Search Terms for Vehicle Shopping: United States, 2016 YTD is Jan-May, Web Search.. Note: spellings are auto-corrected effective 2012.

10 KBB.com Shoppers Are More Engaged More time spent and pages viewed than our competitors 5.9 KBB.com vs Competitive Time Spent 1 (Average minutes per visit) minutes per visit pages per visit KBB.com Yahoo Autos Edmunds Autoblog.com U.S. News Best Cars TrueCar 83% of KBB.com users are engaged in research activities : ComScore Media Metrix January 2015 (Multi-Platform) 2: KBB.com Omniture 2014 Annual Research Share (mobile excluded)

11 KBB.com Is the First Destination for Shoppers Returning to the Market Returning shoppers are just entering the purchase path and are Checking their current vehicle value on the Owners Homepage 76% of visits to the Owners Homepage originated from an organic search or direct visit 1 Further away from purchase 70% of surveyed visitors to the Owners Homepage indicated they were more than 3 months away from purchase 2 What s my car worth? What will my next vehicle be? What should I pay for my next vehicle? 11 1: Kelley Blue Book Web Analytics. Visits to Owners Section for the full year of : KBB.com Combined User Profile 2014

12 Which Also Makes the KBB.com Audience Pre-Qualified Shoppers Actively determining what they can afford Preparing for transaction Engaging in research activities 3+ months away from purchase : KBB.com Combined User Profile 2014

13 KBB.com Owners Homepage Is the Hub for Pre-Qualified Auto Shoppers 98 MILLION Trade-In Reports 1 (74.5 million on Desktop, 23.7 million on Mobile) conversion rate from Owners Homepage to Owners Trade-In Value Page 3 89 % checking their current car 37 % value visited both trade-in and private party values 2 75 % of KBB.com users visiting both new car & owners pricing pages visited an Owners Value Page first 3 More people use KBB.com to determine trade-in values than all other sources combined : Kelley Blue Book Web Analytics. Visits to Owners Trade-In VDP for the full year of : Omniture Site Catalyst. Jan-Mar 15 3: Kelley Blue Book Web Analytics. Q : 2015 IHS Automotive Buyer Influence Study, in partnership with Autotrader Q: By the way, did you trade in your vehicle? Q: What sources did you use to determine the trade-in value?

14 KBB MEDIA COVERAGE

15 KBB.com Leads the Pack in Media Coverage Amongst major competitors, KBB.com had the most press coverage and the highest reach Share of Coverage KBB.com 36% 44% TrueCar 19% 19% Edmunds 21% 23% Cars.com 8% 11% Volume (# of publications) Impressions (# of people reached) 15 Source: Porter Novelli Q PR Competitor Share of Coverage

16 KBB.com s Top Tier Media Coverage Every Month ALWAYS IN THE NEWS EXPERT ANALYSIS AND COMMENTARY FROM OUR TOP INDUSTRY EXPERTS 16

17 Our Robust Media Campaign Keeps KBB.com Top of Mind and Relevant to Vehicle Shoppers Reaching more than 120M adults in the U.S. * 9 out of 10 adults in the U.S. will see our commercials * Adults will see our commercials more than 25 times * LATE NIGHT VIDEO ON DEMAND RADIO CABLE SEM NASCAR Traditional Digital Satellite 17 *Expected, not actual

18 KBB The Trusted Resource KBB.com Today Values Research What s my car worth? 2 in 3 shoppers who traded in their vehicle used KBB.com to determine the trade-in value 1 KBB.com is the most visited site for trade-in values 1 Trade-in Blue Book Value Instant Cash Offer (via Autotrader) Trade-in Evaluator What will my next vehicle be? 93% of shoppers access model information on vehicle-shopping sites 2 74% of shoppers say online videos helped me learn more about specific trucks/cars 3 5-Year Cost to Own KBB Awards Buyer s Guides & Top 10 Lists KBB Ratings & Reviews Buyer s Guide Sponsorship Pricing What should I pay for my next vehicle? 91% of shoppers access vehicle pricing on vehicleshopping sites 2 Pricing was the most useful content to shoppers who favor KBB.com 2 Fair Purchase Price Range Free Dealer Price Quote Certified Listings Program 1: 2014 IHS Automotive Buyer Influence Study, in partnership with AutoTrader.com. Base: Purchasers Who Traded-In a Vehicle 2: J.D. Power 2014 New Autoshopper Study (NAS), Sept : Google. Digital Drives Auto Shopping. November 2013 Note: Products above are a sample and not representative of all KBB.com products. Italicized products are OEM or dealer advertising products.

19 KBB Fueling Definitely Smart Auto Choices The Future of KBB.com Values What s my car worth? 20% of shoppers rated the experience of valuing a trade-in as mostly negative 1 18% rated receiving an offer for a trade-in as mostly negative 1 Simplified Valuation Path Trade-in Sell Donate More Resources for Disposing of Vehicle Research What will my next vehicle be? As the known valuations and pricing leader, KBB.com is especially focused on innovating how today s shoppers find the best vehicle for them. Nearly 9 in 10 KBB.com shoppers are undecided 2 45% of KBB.com shoppers are undecided on segment or vehicle type 2 42% of shoppers are using multiple devices 3 Vehicle Discovery Based on Needs & Wants Building, Carrying & Comparing Consideration Sets Across Devices What should I pay for my next vehicle? 17% of shoppers rated the experience of negotiating a purchase price as mostly negative 1 65% of shoppers use their smartphone while at the dealership 3 Pricing 61% access vehicle pricing content on mobile devices while at the dealership 3 Bridging Online Research & Offline Transaction Helping Negotiations on the Lot 1: 2015 IHS Automotive Buyer Influence Study, in partnership with Autotrader 2: KBB.com Web-Intercept Survey, Q : J.D. Power 2014 New Autoshopper Study (NAS), Sept 2014 Note: Products above are a sample and not representative of all KBB.com products. Italicized products are OEM or dealer advertising products.

20 NEW PARTNERSHIPS/JOINT VENTURES Site Updates

21 Video Product Development Early Previews Video initiatives that may be launched or redesigned in 2016 KBB TV on Roku Launch of KBB.com channel within Roku, featuring editorial videos Additional distribution for pre-roll to KBB shoppers Programmatic Video Buying Purchasing pre-roll via video ad exchanges using KBB.com data segments Alt_Driver Partnership Co-branded destination for viral automotive video content on KBB.com Potential for branded video content featuring sponsored models and KBB.com editorial 21 Note: Screenshots are from testing environments or concept mockups only. Final experience is likely to change based on test results and internal approvals.

22 Cox Automotive Group Partnerships Auto Auctions & Wholesale Services Financial Services Media Software + DealerTrack/Dealer.com

23 Cox Automotive Partnerships: Lexus T1 T3 Xtime Native integration to schedule service and reminders Trade In Marketplace (TIM) Homenet Video 360 KBB Price Advisor