Company: TRUE
Filing Date: 2025-11-24
Form Type: DEFM14A
Source: 0001104659-25-115451
Chunk: 109

Company: TrueCar, Inc.
Filing Date: 2025-11-24
Form: DEFM14A
Chunk 109
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| Revenue            | ​ | ​ | ​     | $ | 189 | ​ | ​ | ​ | ​     | $ | 200 | ​ | ​ | ​ | ​     | $ | 216 | ​ | ​ |
| Adjusted EBITDA(2) | ​ | ​ | ​     | $ |  -3 | ​ | ​ | ​ | ​     | $ |   4 | ​ | ​ | ​ | ​     | $ |  11 | ​ | ​ |

(1) The TrueCar Street Consensus Projections set forth in this table were prepared as of October 13, 2025 and do not take into account any circumstances or events occurring after the date it was prepared. Given that the Special Meeting will be held several months after the TrueCar Street Consensus Projections were prepared, as well as the uncertainties inherent in any forecasted information, TrueCar stockholders are cautioned not to place undue reliance on such information. (2) Adjusted EBITDA is calculated as net income (loss) adjusted to exclude interest income, depreciation and amortization, stock-based compensation, changes in the fair value of contingent consideration liability, lease exit gain or loss, impairment of right-of-use assets, transaction costs associated with potential merger and acquisition activity, interest accretion for terminated leases, restructuring charges, goodwill impairment, severance, other income, and income taxes. Important Information Regarding the Projections The Projections were developed by TrueCar management on a standalone basis and, therefore, the Projections do not give effect to any changes to TrueCar’s operations or strategy that may be implemented after the consummation of the Merger, including any costs incurred in connection with the Merger or any of Parent’s future plans for the Company. Furthermore, the Projections do not take into account the effect of any failure of the Merger to be completed and should not be viewed as accurate or continuing in that context. Although the Projections are presented with numerical specificity, they were based on numerous variables and assumptions made by TrueCar’s management with respect to industry performance, customer purchase expectations, general business, economic, regulatory, market and financial conditions and other future events, as