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AUTOMOTIVE AFTERMARKETMONTHLY INTELLIGENCE REPORTwww.stifelib.comJanuary 2021April 2020

Stifel Aftermarket MonthlyIntelligence ReportStifel Advises The Wheel Group in its sale to Wynnchurch CapitalStifel served as the exclusive financial advisorto The Wheel Group (TWG), a portfolio companyof Seidler Equity Partners, in its sale toWynnchurch Capital, L.P. Stifel’s debt capitalmarkets team also served as the soleplacement agent for a senior secured creditfacility to support Wynnchurch’s acquisition.Financial terms of the transaction wereundisclosed.The Wheel Group is a leading designer anddistributor of branded aftermarket wheels,specialty tires, and related accessories servingthe truck, SUV and car markets. Founded in1997, the Company offers 16 proprietarybrands and serves its customers through 20sales and distribution centers locatedthroughout the U.S. and Canada. TWG is wellpositioned to benefit from growing automotiveaftermarket demand, particularly in enthusiastoriented wheel, specialty tire, and accessorycategories.Inside This Report Recent Transactions Public CompanyPerformance Industry Data Public Equity Markets M&A Tracker Contact InformationTopics to Keep Track ofSHIFT TO ELECTRIC VEHICLESSPURS BID TO MAKE MOREBATTERIES IN U.S.CONTINENTAL RELEASES RESULTSOF MOBILITY STUDYGAS PRICES BACK TO PREPANDEMIC LEVELSThe U.S., historically an importer ofbatteries, seeks to expand domesticproduction amidst shift to EVsU.S. drivers still have reservationsabout fully automated driving, but thebenefits are clear: reduced accidentsAs travel begins to pick up again, thedemand for gas has increased pricesto its highest since March 2020Wall Street JournalAftermarket NewsU.S. NewsPage 1

Recent TransactionsRecent Aftermarket TransactionsM&A activity in the auto aftermarket remains strong for both strategic and financial buyers (seepage 7 for our M&A tracker).L Catteron-led Consortium to Acquire Truck HeroL Catterton, a Greenwich, CT-based private equity firm and its affiliates announced in December they haveentered into a definitive agreement with CCMP Capital to acquire a controlling interest in Truck Hero, theleading provider of functional aftermarket accessories for pickup trucks and Jeep vehicles. Truck Hero ownsover two dozen premier brands and will continue to grow its business through acquisitions and its direct-toconsumer online marketplace, RealTruck.com.Transtar Announces Sale To Blue Point Capital PartnersTranstar Holding Co., a Walton Hills, OH-based portfolio of industry-leading automotive aftermarket andoriginal equipment (OE) businesses announced in January it has been sold to Blue Point Capital Partners.Transtar’s current management team will continue to lead the organization, execute their growth strategies,and acquire other companies to improve its competitive position with a focus on high-quality products andunmatched customer service.H.I.G Capital Completes Acquisition of Continental BatteriesH.I.G. Capital, a Miami, FL-based private equity firm, announced in January that it has acquired ContinentalBatteries. Continental Batteries is a distributor of aftermarket batteries to the electric utility vehicle (EUV),automotive, commercial, marine and industrial markets. Continental provides service to more than 30,000dealers across a network of more than 100 distribution locations in North America.Wheel Pros Completes Acquisition of TSW Alloy WheelsWheel Pros, a Lakewood, CO-based manufacturer and distributor of tires, wheels, and related accessories,has acquired TSW Alloy Wheels (dba Just Wheels & Tires Company Inc.) which designs and manufacturescustom alloy staggered wheels under nearly a dozen brands. This is Wheel Pros’ eighth transaction as aportfolio company of Clearlake Capital, a private equity firm, and will allow it to expand into attractive,complementary product lines in the luxury and off-road wheel and tire markets.Fenix Parts Completes Acquisition of All Pro Auto PartsFenix Parts, a Hurst, TX-based recycler and reseller of original equipment manufacturer automotive parts,announced in January it has acquired All Pro Auto Parts. All Pro Auto parts is a full-service automotiverecycling facility servicing the greater Orlando and Tampa markets. This the second acquisition by Fenix Partsas a portfolio company of Stellex Capital Management LP, a private equity firm, and will continue Fenix’sexpansion into the Florida market.Page 2

Public Company PerformanceHighlights Investor InterestMulti-Unit Services: Driven Brands IPO (NASDAQ: DRVN)Stock Performance Since IPO Driven Brands, a Charlotte, NC-based automotiveservices company, raised 700 million in its IPO onJanuary 14, 2021 31 30 29 28Key Highlights of IPOCurrent Share Price: 28.10 27 26 The Company sold 32 million shares of commonstock at 22 per share, 19% higher than its initialrange of 17 - 20 The stock price rose 21% in its trading debut onJanuary, 15, 2021E-Commerce: CarParts.com (NASDAQ: PRTS)One-Year Stock PerformanceSignificant Growth in U.S. Online Sales of AutoParts and Accessories( in billions) 25 20 16.0Current Share Price: 15.71 15 7.6 10 8.9 10.6 17.7 19.8 21.4 12.3 5 0Enthusiast Brands / Active Outdoor Lifestyle: Fox Factory (NASDAQ: FOXF)One-Year Stock Performance 150 130 110 90 70 50 30 10Historical EV / EBITDA Multiple30.1xCurrent Share Price: 119.6418.3x18.5x22.2x20.6xSources: Capital IQ as of January 31, 2020, Hedges & Co., Press ReleasesPage 3

Industry DataMiles Traveled and Average Gasoline Price Per Gallon5.0%Vehicle Miles Traveled(Year-Over-Year Change)1.4%2.2% 2.802.2% 2.70 2.60(5.0%) 2.50(10.0%)(11.3%) (12.4%)(13.0%)(15.0%)(20.0%)(8.8%)(8.8%)(11.1%) 2.40 2.30 2.20(18.9%) 2.10(25.0%) 2.00(25.5%)(30.0%) 1.90(35.0%) 1.80(40.0%) 1.70(40.2%)(45.0%)Nov-19 Dec-19Jan-20Average Gasoline Price Per Gallon0.0%0.0% 1.60Feb-20 Mar-20 Apr-20 May-20 Jun-20Vehicle Miles TraveledJul-20Aug-20 Sep-20 Oct-20 Nov-20Gasoline PricesSources: Miles Traveled – Federal Highway Administration, Gas Prices – U.S. Energy Information AdministrationSame Store Sales Growth(1)(2)10.0%5.0%4.7%4.5%3.2%7.4%4.0%2.6% 3.6%1.5%2.1%3.1%2.4%1.3% (30.0%)(29.4%)(35.0%)Q4'18Q1'19Q2'19Retailers & Distributors(1)(2)Q3'19Q4'19Multi-Unit Repair ServicesQ1'20Q2'20Q3'20CollisionSame store sales growth measures revenue growth for stores that have been open at least one year. Same store sales figures reflect only the portions applicable to theautomotive aftermarket.Retailers and Distributors includes: Advance Auto Parts, AutoZone, Genuine Parts Company, LKQ, and O’Reilly AutomotiveMulti-Unit Repair Services includes: Boyd Group Services and MonroCollision includes: Boyd Group Services and LKQPage 4

Public Equity Market OverviewYear-to-Date Stock S&P 500: 13.5%Aftermarket Suppliers: 10.1%Diversified Aftermarket &OEM Suppliers: 7.4%Global TireManufacturers: 8.4Collision: 9.1%Multi-UnitRepair Services: 7.6%Parts Distributors: 2.0%Consumer / Enthusiast: 46.7%Recent Stock Performance Last Three Months75%Most companies in our aftermarket index haveoutperformed the S&P 500 over the last three months42%61%65%52%55%45%12%10%4%5%22% 25%20%11% 9%23% 18%24%18%1%4%5%(5%)(15%)24%7% 5%7%NM(0%)26%22%15%19%14%0%NM(0%)(1%)(3%)7%(1%) (2%)NM(3%) (1%)(4%)Aftermarket SuppliersDiversified Aftermarket& OEM SuppliersCollisionMulti-Unit RepairServicesIAA, Inc.KAR Auction Services, Inc.Polaris Inc.Consumer /EnthusiastCopart, Inc.Fox Factory Holding Corp.PARTS iD, Inc.ARB Corporation LimitedLKQ CorporationParts DistributorsO'Reilly Automotive, Inc.Genuine Parts CompanyAutoZone, Inc.CarParts.com, Inc.Advance Auto Parts, Inc.Monro, Inc.Valvoline Inc.Boyd Group Services Inc.Driven Brands Holdings Inc.LKQ CorporationPPG Industries, Inc.IAA, Inc.Copart, Inc.Driven Brands Holdings Inc.Boyd Group Services Inc.Axalta Coating Systems Ltd.The Yokohama Rubber CompanyPirelli & C. S.p.A.Global Tire ManufacturersToyo Tire CorporationMichelin SCANexen Tire CorporationKumho Tire Co., Inc.Hankook Tire & Technology Co., Ltd.Cooper Tire & Rubber CompanyThe Goodyear Tire & Rubber CompanyTenneco Inc.Horizon Global CorporationAxalta Coating Systems Ltd.Gates Industrial Corporation plcValvoline Inc.Snap-on IncorporatedMotorcar Parts of America, Inc.S&P 500Dorman Products, Inc.Standard Motor Products, Inc.(16%)(25%)Bridgestone Corporation15%15%PPG Industries, Inc.25%37%37%35%AuctionsSource: Capital IQ as of January 31, 2021Page 5

Public Equity Market OverviewEnterprise Value / EBITDA 6x9.7x7.6x7.5x6.0xAftermarket SuppliersDiversified Aftermarket& OEM Suppliers1-Year AgoGlobal TireManufacturers1-Month AgoCollisionCurrent5-Year i-Unit RepairServices15.9x15.3x14.8x10.2xParts Distributors1-Year Ago11.0x9.8x9.3x8.9xConsumer / Enthusiast1-Month AgoAuctionsCurrent5-Year Average13.7x11.6x15.2x14.7x(1) EBITDA includes equity income from affiliatesSource: Capital IQ as of January 31, 2021Page 6