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Press Release

IAA Expands Over 500 Acres in Preparation for Severe Weather Season

Published August 7, 2017 - Written by IAA, Inc.


WESTCHESTER, Ill., August 7, 2017 – Insurance Auto Auctions, Inc. (IAA), a business unit of KAR Auction Services (NYSE: KAR), and the leading live and live-online salvage auto auction company, today announced it has secured 22 real estate locations in ten states to prepare for the weather event season and potential catastrophic events.

“Strategically expanding our presence helps meet demands for catastrophe (CAT) services in areas where our customers will most urgently need it,” said John Kett, CEO and president, Insurance Auto Auctions, Inc. “We know that being prepared means being proactive, not reactive. And our experience in successfully navigating severe weather situations, such as Hurricane Matthew and the Louisiana flooding, fuels our proactive approach to CAT operation preparedness.”

The IAA CAT Team is a full spectrum catastrophe service that operates on scene using the company’s resources to recover the influx of total loss vehicles. The IAA CAT team has been in operation for over 30 years. Through consistent development in catastrophic prone locations, IAA is able to provide additional acreage for day-to-day seller storage and to maintain reserve storage for acute inventory increases. IAA’s strategic preparation and coordination allow for a timely response and speedy recovery in the aftermath of a major catastrophe, further showcasing the company’s continuous dedication to its customers.

“We want our customers and communities to know that IAA will be there when disaster strikes,” said Kett. “We embrace this responsibility – it’s part of who we are. And with this additional land, we’re able to deliver more support faster than ever.”

The IAA CAT-related expansions announced today include the following 22 locations: Burbank, CA; Miami, FL; Orlando, FL (two locations); Pensacola, FL; Tallahassee, FL; Tampa, FL (two locations); Savannah, GA; Tifton, GA; Baton Rouge, LA (two locations); Lafayette, LA (two locations); Medford, MN; Moss Point, MS; Englishtown, NJ; Long Island, NY; Charleston, SC; and Houston, TX (three locations).

 For more information on listings for branch dates and times, please visit https://www.iaai.com/locations.

For more information on IAA’s rapid response system, please visit the Catastrophe page.

For four decades, IAA has been dedicated to meeting and exceeding the needs of its global clients and giving back to the communities in which it operates. This philosophy of giving provides IAA’s more than 2,800 team members with opportunities to volunteer, mentor and financially support multiple global, national, and local charitable causes. This commitment is also reflected in IAA’s National Vehicle Donation division that, since 1994, has assisted not-for-profit organizations monetize donated vehicles to fund and support their missions.

Media Inquiries:

Jeanene O’Brien
SVP, Global Marketing and Communications
(708) 492-7328
jobrien@iaai.com


Analyst Inquiries:

Caitlin Churchill
ICR
(203) 682-8200
investors@iaai.com

About IAA, Inc.

IAA, Inc. (NYSE: IAA) is a leading global digital marketplace connecting vehicle buyers and sellers. Leveraging leading-edge technology and focusing on innovation, IAA’s unique multi-channel platform processes approximately 2.5 million total-loss, damaged and low-value vehicles annually. Headquartered near Chicago in Westchester, Illinois, IAA has nearly 4,000 talented employees and more than 200 facilities throughout the U.S., Canada and the United Kingdom. IAA serves a rapidly growing global buyer base – located throughout over 135 countries – and a full spectrum of sellers, including insurers, dealerships, fleet lease and rental car companies, and charitable organizations. Buyers have access to innovative vehicle merchandising, efficient evaluation services and digital bidding tools, enhancing the overall purchasing experience. IAA offers sellers a comprehensive suite of services aimed at maximizing vehicle value, reducing administrative costs, shortening selling cycle time and delivering the highest economic returns.


Forward-Looking Statements

Certain statements contained in this release include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, statements made that are not historical facts may be forward-looking statements and can be identified by words such as “should,” “may,” “will,” “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” and similar expressions. In this release, such forward-looking statements include statements regarding the expected timing and associated benefits of CSAToday, and the related services, products and platforms discussed in this release. Such statements are based on management’s current expectations, are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from the results projected, expressed or implied by these forward-looking statements. These risks and uncertainties include: uncertainties regarding the impact of the COVID-19 outbreak, and measures to prevent its spread, on our business and the economy generally; the loss of one or more significant suppliers or a reduction in significant volume from such suppliers; our ability to meet or exceed customers’ demand and expectations; significant current competition and the introduction of new competitors or other disruptive entrants in our industry; the risk that our facilities lack the capacity to accept additional vehicles and our ability to obtain land or renew/enter into new leases at commercially reasonable rates; our ability to effectively maintain or update information and technology systems; our ability to implement and maintain measures to protect against cyberattacks and comply with applicable privacy and data security requirements; our ability to successfully implement our business strategies or realize expected cost savings and revenue enhancements, including from our margin expansion program; business development activities, including acquisitions and integration of acquired businesses; our expansion into markets outside the U.S. and the operational, competitive and regulatory risks facing our non-U.S. based operations; our reliance on subhaulers and trucking fleet operations; changes in used-vehicle prices and the volume of damaged and total loss vehicles we purchase; economic conditions, including fuel prices, commodity prices, foreign exchange rates and interest rate fluctuations; trends in new- and used-vehicle sales and incentives; and other risks and uncertainties identified in our filings with the Securities and Exchange Commission (the “SEC”), including under "Risk Factors" in our Form 10-K for the year ended December 29, 2019 filed with the SEC on March 18, 2020. Additional information regarding risks and uncertainties will also be contained in subsequent annual and quarterly reports we file with the SEC. The forward-looking statements included in this release are made as of the date hereof, and we undertake no obligation to publicly update or revise any forward-looking statement to reflect new information or events, except as required by law.