Pendragon considers revised non-binding, preliminary proposal by Hedin Mobility Group and PAG International

Hedin Mobility Group AB (publ) (“Hedin Mobility Group”) together with PAG International Ltd. (“PAG International”), a wholly owned subsidiary of Penske Automotive Group, Inc., have made a revised non-binding, preliminary proposal to jointly acquire the entire issued and to be issued share capital of Pendragon PLC (“Pendragon”) not already owned by Hedin Mobility Group for 32 pence per share, in cash (the “Revised Proposal”). On September 22, 2023, Pendragon issued an announcement confirming that its Board of Directors will consider the Revised Proposal and consult with its shareholders.