LITHIA MOTORS INC

As used in this Annual Report, the terms Lithia, Lithia and Driveway, LAD, the Company, we, us, and our refer collectively to Lithia Motors, Inc. and its subsidiaries, unless otherwise required by the context. Our store operations are conducted by our subsidiaries. Forward-Looking Statements Certain statements in this Annual Report, including in the sections entitled Risk Factors, Management’s Discussion and Analysis of Financial Condition and Results of Operations, and Business constitute forward-looking statements within the meaning of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Generally, you can identify forward-looking statements by terms such as project, outlook, target, may, will, would, should, seek, expect, plan, intend, forecast, anticipate, believe, estimate, predict, potential, likely, ensure, goal, strategy, future, maintain, and continue or the negative of these terms or other comparable terms.