About OPENLANE

Peter Kelly is CEO of OPENLANE and is responsible for overall growth and strategic activities at the company. As co-founder of OPENLANE, Mr. Kelly has driven the company's strategic direction as it has developed from concept stage to become one of the leading online wholesale automotive auctions in North America. In addition, Mr. Kelly has been instrumental in helping OPENLANE build its technology, operations and financial infrastructure to facilitate the company's growth. Previously, Mr. Kelly held a variety of executive management positions with OPENLANE, including President and Chief Financial Officer.

Prior to OPENLANE, Mr. Kelly spent eight years managing engineering, construction and procurement projects for Taylor Woodrow, a U.K.-based construction and development firm.

Mr. Kelly earned a first class honors degree in engineering from University College Dublin and an M.B.A. from Stanford University.

Michael Briggs is Senior Vice President of Transportation & Logistics - US & Canada at OPENLANE and President and CEO of CarsArrive Network and is responsible for all transport functions at OPENLANE and its CarsArrive Network subsidiary as well as leading transportation initiatives across the KAR family of companies.

Previously, Michael was the founder, CEO and architect of CarsArrive Network, a leading national online transportation and logistics company. The company went live in 2001 and for 4 years was the exclusive online shipping tool for Manheim Online. CarsArrive Network was later acquired by OPENLANE in 2007. Prior to CarsArrive, he owned and operated MRB of Virginia, a car haul transport company which he founded in 1990. Michael was also Director of Transportation for Pricedrive, an online automotive exchange startup funded by Landmark Communications. In 1989, Michael began selling cars at Prestige Imports, a large independent dealership in northern Virginia and AutoLoan Center where he was quickly promoted to Sales Manager and has also launched a subprime finance department for a Georgia dealer group.

Michael has enjoyed working directly in the automotive industry over the past 20 years and has collaborated closely with his business partner, mentor and investor in CarsArrive — world class businessman Richard L. Sharp, founder, President, CEO, Chairman - Carmax, Circuit City, Crocs Shoes, Flextronics, VTen Capital Partners.

Gary Edelstein is Senior Vice President, Chief Information Officer and a co-founder of OPENLANE. As CIO, Mr. Edelstein is responsible for all engineering and technology services at the company and leads the technical teams for software development, software quality assurance, technology operations, data services, and project management.

Prior to joining OPENLANE, Mr. Edelstein consulted on enterprise-wide SAP software implementations in mid-market companies with Optimum Software Solutions (now IDS Scheer). Mr. Edelstein started his professional career with Ernst and Young's Management Consulting Services in South Africa, working on client implementations requiring business process innovation, technology enablement and software package-enabled re-engineering. Afterwards, Mr. Edelstein moved to London where he consulted as an independent, senior IT Business Analyst to high-growth companies in the newly deregulated European telecommunications industry.

Mr. Edelstein holds a Bachelor's of Business Sciences degree in Information Systems from the University of Cape Town in South Africa. He obtained his Information Systems Honors with distinction.

Trevor Henderson is Senior Vice President of OPENLANE and Managing Director for OPENLANE Canada operations and is responsible for both the company's eBusiness and business development, as well as the company's Canadian operations, which include program management and coordination and Canadian dealer sales.

In addition to his responsibilities at OPENLANE, Mr. Henderson is also vice president of eBusiness and business development for ADESA Canada, where he is responsible for guiding the company's development and implementation of strategic online programs and services for both commercial and dealer customers.

Prior to joining ADESA in 2002, Mr. Henderson spent seven years in various product planning and strategic roles at a software development company focused on providing fleet maintenance and dealer service solutions to the automotive industry.

Mr. Henderson holds a M.B. A. from the Rotman School of Management at the University of Toronto.

Nagi Palle, Ph.D, is Senior Vice President of Product Management with overall responsibility for the company's products and services offered on OPENLANE's online marketplaces. In addition to his product management responsibilities, Mr. Palle is also responsible for OPENLANE Analytics Services, assisting customers to define online remarketing metrics, optimizing channel performance and market pricing, as well as driving internal analytics for OPENLANE's full-service online marketplace.

Prior to joining OPENLANE, Dr. Palle was an Executive Partner in Accenture's supply chain and automotive practices, where he was responsible for leading global transformation programs for OEMs and suppliers worldwide. Prior to that, he served as a principal at A.T. Kearney, overseeing the launch of its Mumbai (India) office in 2004. Dr. Palle was also the former Finance and Strategy director at iMotors, a value-added reseller of pre-owned vehicles, where he was responsible for used car pricing and economics, financial modeling and operations, as well as the strategies for the company's B-to-B and B-to-C businesses. He has also held management and technical positions at Visteon Corporation and Ford Motor Company.

Dr. Palle holds an M.B.A. from the University of Michigan at Ann Arbor and a Ph.D. in Mechanical Engineering from the University of Illinois Champaign-Urbana. In addition, he holds a Master's of Science degree in Applied Mechanics from the Colorado School of Mines in Golden, Colorado, and a Bachelor's of Technology degree from the Indian Institute of Technology, Madras, India.

Tim Zierden is Senior Vice President for U.S. Dealer Sales at OPENLANE and is responsible for providing aligned solutions for all field sales activity at both ADESA and OPENLANE, as well as driving the dealer consignment side of OPENLANE's U.S. business.

Mr. Zierden is an industry leader in the areas of retail automotive operations and technology management. He began his automotive career with CarMax, where he held various senior management roles during his 10 years with the company.

Prior to OPENLANE, Mr. Zierden was vice president of dealer consignment for ADESA. With ADESA since 2009, Mr. Zierden leads the company's dealer services division and oversees its operations in dealer consignment and related services throughout the U.S. Before ADESA, Mr. Zierden was assistant vice president and general manager of inventory solutions at DealerTrack, a software company geared toward the automotive retail industry. He has also served as vice president of trading operations for Lanelogic, where he created trading strategies that enabled more than 1,000 daily vehicle bids. In addition, Mr. Zierden has also served as an operating partner in a multi-franchise new car dealership.

Mr. Zierden holds a Bachelor's degree from the University of Virginia.

Todd Hodnett is the co-founder, President and CEO of Recovery Database Network ("RDN"), a wholly owned subsidiary of OPENLANE, where he is responsible for overall strategy and day to day operations.

Previously, Mr. Hodnett was the Corporate Development Officer and General Counsel of Rock Island Entertainment, which was involved in the production of live events that ranged from music concerts to air shows. Prior to being employed with Rock Island Entertainment, he was with the law firm of Bailey & Hodnett, L.L.P. where his experience included corporate litigation and transactional work including mergers and acquisitions.

Mr. Hodnett gained experience regarding the administrative and managerial needs of the repossession industry by virtue of having grown up in and around his father's repossession company.

Mr. Hodnett has a General Business Degree from Texas Christian University, and received his Juris Doctor from Oklahoma City University School of Law, Oklahoma City, Oklahoma.

Sheryl Watson is general counsel and senior vice president for both OPENLANE and ADESA Canada. Ms. Watson oversees the legal affairs of ADESA in Canada, OPENLANE in both the United States and Canada, and labour law matters for all of KAR's Canadian business units.

Previously, Ms. Watson also led the human resources team for KAR's Canadian business units and plays a key role in many of KAR's mergers, acquisitions and significant transactions.

An active member of the National Auto Auction Association, Ms. Watson served as chair of the NAAA Canadian Committee from 2006 to 2009 where she led an initiative to standardize the Association's Canadian disclosure standards. She has also served on advisory committees to the Ontario and Manitoba governments regarding the regulation of motor vehicle dealers and currently serves on the stakeholders committee of the Ontario Motor Vehicle Industry Council.

Prior to joining ADESA in 1999, Ms. Watson practiced commercial litigation and employment law at the Toronto law firms of Osler Hoskin & Harcourt and Torys.

Ms. Watson earned her Bachelors degree in Psychology from York University, her juris doctorate from the University of Western Ontario and has been granted the ICD.D designation from the Institute of Corporate Directors.