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AFC Names Senior Vice President of Operations

January 7, 2015

For Immediate Release

CARMEL, Ind.—Automotive Finance Corporation (AFC), a business unit of KAR Auction Services (NYSE: KAR), today announced that Joe Keadle has been promoted to senior vice president of operations. Keadle will report directly to John Hammer, AFC CEO and president.

In his new role, Keadle will oversee all field operational functions including branch operations, sales and training. He will focus on developing, leading and coordinating AFC field operations while assuring the standardization of all operating practices and procedures and will be instrumental in leading AFC’s growth initiatives.

Keadle joined AFC in 2010 as regional manager and in 2011 was promoted to vice president of operations for the west division.

Keadle has more than 20 years of experience and has held a wide variety of positions in the financial services and automotive industries. Prior to joining AFC, he served in a variety of roles for a multi-franchise dealership group including business manager, new car sales manager and used car sales manager. Later he was with Wachovia Bank in Charleston, South Carolina where he developed and managed dealer relationships and was the national floor plan development manager at New South Federal Savings Bank. He holds a bachelor’s of science degree from the College of Charleston.

“Joe is a vital member of the AFC operations team,” said Hammer. “His experience and strong leadership will help guide our organization and position us for continued long-term success.”

“I am honored to be part of AFC’s continued evolution and growth,” said Keadle. “I cannot wait to leverage our strengths across the company as we move forward.”

About AFC

AFC is one of the largest providers of independent dealer inventory financing in North America. AFC, as part of KAR Auction Services, Inc., provides floorplan financing programs for retail and wholesale automobile dealers, RV dealers, motorcycle dealers, commercial truck dealers, salvage and daily rental operators. For more information about AFC, please phone toll free 888-345-0600 or visit us online at AFCDealer.com.