AUTONATION, INC.

(a)

As previously disclosed in a Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission, on May 22, 2015, AutoNation, Inc. (the “Company”) established a commercial paper program (the “Program”) pursuant to which it may issue short-term, unsecured commercial paper notes (the “Notes”) in reliance on the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”).

On October 27, 2026, the Company increased the size of the Program so that it may have up to $2.0 billion of Notes outstanding at any one time under the Program. Prior to this increase, the Company could have up to $1.9 billion of Notes outstanding at any one time. The maturities of the Notes may vary, but may not exceed 397 days from the date of issuance. The Company intends to continue to use its revolving credit facility as a liquidity backstop for the Company’s borrowings under the Program.

The Notes have not been and will not be registered under the Securities Act or state securities laws, and the Notes may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws. The information contained herein is neither an offer to sell nor a solicitation of an offer to buy the Notes or any other securities.

(c)

During the fiscal quarter ended September 30, 2026, no director or officer of the Company adopted orterminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement” (in each case, as defined in Item 408 of Regulation S-K).