Company: TRUE
Filing Date: 2025-11-13
Form Type: PREM14A
Source: 0001104659-25-111498
Chunk: 121

Company: TrueCar, Inc.
Filing Date: 2025-11-13
Form: PREM14A
Chunk 121
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 instrument. Under the terms of its engagement letter, Morgan Stanley provided TrueCar financial advisory services and a financial opinion in connection with the Merger, and TrueCar agreed to pay Morgan Stanley a fee of $3 million (the “

#### Announcement Fee
”), which became payable upon the execution of the Merger Agreement, and a transaction fee of $12.5 million, against which any Announcement Fee paid will be credited, to the extent not previously credited, and which is contingent upon consummation of the Merger. TrueCar has also agreed to reimburse Morgan Stanley for its expenses incurred in performing its services. In addition, TrueCar has agreed to indemnify Morgan Stanley and its affiliates, their respective directors, officers, agents and employees and each person, if any, controlling Morgan Stanley or any of its affiliates against certain liabilities and expenses, including certain liabilities under the federal securities laws, related to or arising out of Morgan Stanley’s engagement.

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In the two years prior to the date of its opinion, Morgan Stanley has not provided financial advisory or financing services to TrueCar, Parent, or Investor, and has not received fees in connection with such services. Morgan Stanley may seek to provide financial advisory and financing services to Parent, TrueCar, Investor and their respective affiliates in the future and would expect to receive fees for the rendering of these services. As of September 16, 2025, Morgan Stanley held an aggregate interest of less than 1% of the shares of Common Stock, which interests were held in connection with Morgan Stanley’s (i) investment management business, (ii) wealth management business, including client discretionary accounts or (iii) ordinary course trading activities, including hedging activities.

#### Financing of the Merger
We anticipate that the total amount of funds necessary to complete the Merger and the other Transactions, and to pay the fees and expenses required to be paid at the Closing by Parent and Merger Subsidiary under the Merger Agreement, will be approximately $248 million. This amount includes funds needed to pay the Required Amount.

Parent and Merger Subsidiary plan to finance the Required Amount utilizing a combination of: (i) the Equity Financing described below; (ii) the Company’s Cash on Hand; and (iii) additional equity or debt commitments of at least $60 million in the aggregate.

#### Equity Financing
Pursuant to the Equity Commitment Letter, the Investor has committed to contribute (or cause to be contributed) the