Please provide a minimum of three liquidity ratios, which are correctly calculated for the periods presented in the financial statements. The trend is appropriately commented on and explained by appropriate references to the financial statements.

AutoCanada Inc. Consolidated Statements of Financial Position (in thousands of Canadian dollars) December 31, December 31, 2021 2020 $ $ ASSETS Current assets Cash and cash equivalents (Note 16) 102,480 107,704 Trade and other receivables (Note 17) 132,913 118,650 Inventories (Note 18) 737,299 699,200 Other current assets (Note 22) 9,572 8,931 Assets held for sale (Note 19) 1,039 982.264 935,524 Property and equipment (Note 20) 248,109 203,525 Right-of-use assets (Note 25) 370,998 308,897 Other long-term assets (Note 22) 17,211 14,337 Deferred income tax (Note 12) 40,881 29,713 Intangible assets (Note 21) 548,249 399,633 Goodwill (Note 21) 50.961 25,734 2,258,673 1,917,363 LIABILITIES Current liabilities Trade and other payables (Note 23) 189,731 137,510 Revolving floorplan facilities (Note 24) 708,561 761,943 Current tax payable 3,119 5,030 Vehicle repurchase obligations (Note 27) 3,584 4,526 Indebtedness (Note 24) 65 Redemption liabilities (Note 15) 21,673 7,557 Lease liabilities (Note 25) 25,602 24,079 Other liabilities (Note 28) 1,167 2,176 953,437 942,886 Long-term indebtedness (Note 24) 285,908 197,166 Long-term lease liabilities (Note 25) 427,215 363,850 Long-term redemption liabilities (Note 15) 659 435 Derivative financial instruments (Note 26) 8,299 22,146 Other long-term liabilities (Note 28) 9,932 8.428 Deferred income tax (Note 12) 53,814 19,632 1,739,264 1,554,543 EQUITY Attributable to AutoCanada shareholders 493,411 341,874 Attributable to non-controlling interests 25,998 20,946 519,409 362,820 2,258,673 1,917,363 Commitments and contingencies (Note 29) The accompanying notes are an integral part of these consolidated financial statements.AutoCanada Inc. Consolidated Statements of Cash Flows For the Years Ended (in thousands of Canadian dollars) December December 31, 2021 31, 2020 $ Cash provided by (used In): Operating activities Net income (loss) for the year 167.199 (6.623) Adjustments for: Income taxes (Note 12) 54.021 5,418 Amortization of deferred financing costs 1.896 1,300 Amortization of note premium (1,253) Depreciation of property and equipment (Note 20) 17,272 17,372 Depreciation of right-of-use assets (Note 25) 26.420 24,759 Amortization of terminated hedges (Note 26) 3,268 2,308 Loss (gain) on disposal of assets, net (Note 10) 387 (1,370) Share-based compensation - equity-settled (Note 30) 3,345 4,029 Share-based compensation - Used Digital Retail Division (Note 30) 224 435 Loss on extinguishment of debt (Note 11) 1,128 4,002 Loan forgiveness (Note 24) (6,728) Unrealized fair value changes on interest rate swaps (Note 26) (8,412) 3,175 Unrealized fair value changes on foreign exchange forward contracts (Note 26) 539 (366) Unrealized fair value changes on embedded derivative (Note 11) (29,306) Revaluation of redemption liabilities (Note 15) 14,116 (2,108) Loss on settlement of redemption liabilities (Note 15) 1,346 Income taxes (paid) recovered (25,276) (10,984) [Recoveries) impairment of non-financial assets (Note 21) (39.846) 24,207 Settlement of share based awards (Note 30) (18,075) Issuance of executive and employee advances (Note 30) (4,570) Net change in non-cash working capital (Note 36) (43,407) 70,965 112,942 137,865 Investing activities Business acquisitions, net of cash acquired (Note 13) (183,197) (18,445) Purchases of property and equipment (34.576) (26,344) Proceeds on sale of property and equipment 2.399 8,986 Proceeds on divestiture of dealerships 683 (215.374 35,120) Financing activities Proceeds from indebtedness 353,957 226.882 Repayment of indebtedness (231,180) (245,505) Treasury shares settled, net (Note 31) 3,685 (1,778) Settlement of share based awards (Note 30) 173 Forward share purchase (Note 28) (3,631) Dividends paid on common shares (2,743) Dividends paid to non-controlling interests (79) Acquisition of non-controlling interests without a change in control (Note 15) (8,250) Acquisition of non-controlling interests from business acquisition (Note 13) 1,071 Principal elements of lease payments (25.922) (20,692) 97,003 (51,015) Effect of exchange rate changes on cash and cash equivalents 205 419 Net (decrease) increase in cash and cash equivalents (5.224) 52,149 Cash and cash equivalents at beginning of year (Note 16) 107,704 55,555 Cash and cash equivalents at end of year (Note 16) 102,480 107,704 The accompanying notes are an integral part of these consolidated financial statements.AutoCanada Inc. Consolidated Statements of Comprehensive Income (Loss) For the Years Ended (in thousands of Canadian dollars except for share and per share amounts) December 31, December 31, 2021 2020 Revenue (Note 6) 4,653,415 3,329,494 Cost of sales (Note 7) (3,819,232) (2,782,168) Gross profit 834,183 547,326 Operating expenses (Note 8) (612,609) (461,663) Operating profit before other income (expense) 221,574 85,663 Lease and other income, net (Note 10) 9,035 7,386 (Loss) gain on disposal of assets, net (Note 10) (387) 1,370 Recoveries (impairment) of non-financial assets (Note 21) 39,846 (24,207) Operating profit 270,068 70,212 Finance costs (Note 11) (35,189) (72,505) Finance income (Note 11) 810 308 (Loss) gain on redemption liabilities (Note 15) (14,116) 762 Other losses 353) (482) Net income (loss) for the year before tax 221,220 1,205) Income taxes (Note 12) 54,021 5,418 Net income (loss) for the year 167,199 6,623 Other comprehensive gains and (losses) Items that may be reclassified to profit or loss Foreign operations currency translation (2,069) (2,089) Change in fair value of cash flow hedge (Note 26) 8,880 (10,938) Income tax relating to these items (2,392) 2.836 Other comprehensive income (loss) for the year, net of tax 4,419 (10,191) Comprehensive income (loss) for the year 171,618 16,814) Net income (loss) for the year attributable to: AutoCanada shareholders 164.207 (7,455) Non-controlling interests 2,992 832 167,199 6,623 Comprehensive income (loss) for the year attributable to: AutoCanada shareholders 168,626 (17,646) Non-controlling interests 2,992 832 171,618 (16,814) Net income (loss) per share attributable to AutoCanada shareholders: Basic 5.98 (0.27) Diluted 5.60 (0.27 Weighted average shares Basic (Note 31) 27,474,106 27,313,140 Diluted (Note 31) 29.305.292 27,313,140 The accompanying notes are an integral part of these consolidated financial statements. Approved on behalf of the CompanyAutoCanada Inc. Consolidated Statements of Changes In Equity For the Years Ended (in thousands of Canadian dollars) Attributable to AutoCanada shareholders Cumulative Non- Share Treasury Contributed translation OCI hedge Retained Total controlling Total capital shares surplus adjustment reserve earnings capital Interests equity $ Balance, January 1, 2021 510,606 (2,494) 9,995 (3,036) (12,637) (160,560) 341,874 20,946 362,820 Net income 164,207 164,207 2,992 167.199 Other comprehensive (loss) income (2,069) 6,488 4,419 4,419 Dividends declared by subsidiaries to non-controlling interests (Note 15) (79) (79) Reorganization of non- controlling interests (Note 15) - - (538) (538) 2,139 1,601 Forward share purchase (Note 28) - (3,631) (2.570) - (6,201) (6,201) Settlement of share-based awards (Note 30) 213 (18,422) - - (18,209) (18,209) Issuance of executive and employee advances (Note 30) (4.570) - (4,570) (4,570) Deferred tax on share-based payments - 9.084 - 9.084 9,084 Shares settled from treasury (Note 31) 3,685 (3,685) Share-based compensation (Note 30) 3,345 3,345 3,345 Balance, December 31, 2021 510,819 (2.440) (6,823) (5,105) (6,149) 3,109 493,411 25,998 519,409 The accompanying notes are an integral part of these consolidated financial statements.AutoCanada Inc. Consolidated Statements of Changes In Equity For the Years Ended (in thousands of Canadian dollars) Attributable to AutoCanada shareholders Cumulative Non- Share Treasury Contributed translation OCI hedge Accumulated Total controlling Total capital shares surplus adjustment reserve deficit capital interests equity S Balance, January 1, 2020 510,606 (716) 6,463 (947) (4,535) (157,264) 353,607 14,492 368,099 Net (loss) income [7.455) (7.455 832 (6.623) Other comprehensive loss (2,089) (8,102) (10,191) (10,191) Dividends declared on common shares (Note 31) (2,743) (2,743) (2,743) Reorganization of non- controlling interests (Note 15) 12,524 12 524 Non-controlling interests arising on acquisition (Note 13) 1,071 1,071 Acquisition of non-controlling interest (Note 15) - 7,973 7,973 (7.973) Recognition of redemption Liability granted to non- controlling interests (Note 15) - - (1,071) (1,071) (1,071) Treasury shares acquired (Note 31) (2,081) - - (2,081) - (2,081) Dividends reinvested (Note 31) (3) (3) (3) Settlement of share-based awards (Note 30) (191) - (191) (191) Shares settled from treasury (Note 31) 306 (306) Share-based compensation (Note 30) 4,029 4,029 4.029 Balance, December 31, 2020 510,606 (2,494) 9,995 (3,036) (12,637) (160,560) 341,874 20,946 362,820 The accompanying notes are an integral part of these consolidated financial statements