Company: TRUE
Filing Date: 2025-11-13
Form Type: PREM14A
Source: 0001104659-25-111498
Chunk: 163

Company: TrueCar, Inc.
Filing Date: 2025-11-13
Form: PREM14A
Chunk 163
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 legal and other terms and conditions of the Acquisition Proposal (including the identity of the Person making such Acquisition Proposal and the likelihood of consummation), if consummated, is more favorable from a financial point of view to the Company Stockholders than the Transactions.

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#### No Change of Recommendation
Subject to certain exceptions described below, neither TrueCar nor any of its subsidiaries may, and TrueCar and its subsidiaries must cause their respective Representatives not to, directly or indirectly, withdraw or amend, qualify or modify, in each case, in a manner adverse to Parent, the Company Board Recommendation (or recommend, adopt, approve, endorse or otherwise declare advisable an Acquisition Proposal or make any public statement inconsistent with the Company Board Recommendation), it being understood that it will be considered a modification of the Company Board Recommendation adverse to Parent if:

•

any Acquisition Proposal structured as a tender or exchange offer is commenced by a Person other than a member of the Parent Affiliated Group (as defined in the Merger Agreement) and the Board fails to publicly recommend against acceptance of such tender or exchange offer by the Company Stockholders in any solicitation or recommendation statement on Schedule 14D-9 filed by TrueCar with the SEC in connection with such tender offer or exchange offer;

•

any Acquisition Proposal is publicly announced by a Person other than a member of the Parent Affiliated Group (other than by the commencement of a tender or exchange offer) and the Board fails to issue a public press release within ten (10) business days of such public announcement providing that the Board reaffirms the Company Board Recommendation; or

•

TrueCar fails to include the Company Board Recommendation in this proxy statement (any of the foregoing, an “

#### Adverse Recommendation Change
”).

For the avoidance of doubt, nothing in the Merger Agreement prohibits the Board from: (i) complying with Rule 14e-2(a) under the Exchange Act with regard to an Acquisition Proposal so long as any action taken or statement made to so comply is consistent with the Merger Agreement; provided that any such action taken or statement made that relates to an Acquisition Proposal will be deemed to be an Adverse Recommendation Change unless the Board reaffirms the Company Board Recommendation in such statement or in connection with such action; or (ii) issuing a “stop, look and listen” disclosure or similar communication of the type contemplated by Rule 14d-9(f) under the Exchange Act.

Permitted Change of Recommendation — Superior Proposal

If at