LITHIA MOTORS INC

Item 8.01. Other Events On June 19, 2024, Lithia Motors, Inc. (the “Company”) received notice from CDK Global (“CDK”), a third-party provider of certain information systems used by the Company, that CDK had suspended systems used by the Company in response to a cybersecurity incident impacting CDK. In response, the Company activated its cyber incident response procedures, which included taking precautionary containment steps and severing business service connections between the Company’s systems and CDK’s. As a result, the Company experienced disruptions in North America to its CDK hosted dealer management system, which supports dealership operations including those supporting sales, its customer relationship management system, inventory and accounting functions. To date, the Company has not identified any compromise or unauthorized access of its systems or networks. The Company, whose dealerships continue to operate, has implemented mitigation plans to minimize disruptions and continue serving its customers. While this incident has had, and is likely to continue to have, a negative impact on the Company’s business operations until the relevant systems are fully restored, the Company has not yet determined whether the incident is reasonably likely to materially impact the Company’s financial condition or results of operations. The information provided in this report is preliminary and is based on currently available information and is subject to change during the course of CDK’s and the Company’s ongoing investigation of the incident. Forward-Looking Statements Certain statements in this report 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 forw