KAR Auction Services, Inc. announced early results of its previously announced cash tender offer (Tender Offer) to purchase up to $600,000,000 principal amount of its 5.125% Senior Notes due 2025 (CUSIP Nos. 48238TAA7 /U24457AA8) (Notes), exclusive of any applicable premiums paid in connection with the Tender Offer and accrued and unpaid interest. The terms and conditions of the Tender Offer are set forth in an Offer to Purchase, dated August 2, 2022, which was sent to all registered holders (Holders) of Notes.

As of 5:00 p.m., New York City time, on August 15, 2022 (the “Early Tender Date”), according to information provided by D.F. King & Co., Inc., the tender and information agent for the Tender Offer, $769,097,000 aggregate principal amount of Notes has been validly tendered and not validly withdrawn as shown in the table below. Withdrawal rights for the Notes expired at 5:00 p.m., New York City time, on August 15, 2022. Since the aggregate principal amount of the Notes validly tendered and not validly withdrawn at or prior to the Early Tender Date exceeds the Tender Cap, Notes tendered after the Early Tender Date will not be accepted for purchase and the principal amount of the Notes accepted for purchase were prorated, on the terms and subject to the conditions of the Tender Offer.

With respect to Notes validly tendered and not validly withdrawn at or prior to the Early Tender Date and accepted for purchase by the Company, the Company has elected to have an early settlement date to make payment on such Notes on August 17, 2022 (Early Settlement Date). Holders of such Notes will also receive accrued and unpaid interest to, but excluding, the Early Settlement Date on such Notes. All conditions were satisfied or waived by the Company on the Early Tender Date.