To Our Fellow Stockholders As we continue to navigate the turnaround of TrueCar’s legacy business while simultaneously laying the foundation for what TrueCar aims to become, we acknowledge that the TrueCar story is nuanced and requires investors to evaluate and underwrite the distinct opportunities that exist for both our legacy and future businesses. Driving strong near-term growth of the legacy business requires that we embrace and lean into the unique competitive advantages that, over nearly two decades, have helped TrueCar forge its identity as a leading vehicle listings and lead gen provider. However, for us to effectively innovate and carve out our role in the future of automotive retail, we must be willing to evolve the identity we have long embraced. This year alone, we have launched a broad suite of digital marketing solutions for both dealers and original equipment manufacturers (“OEMs”) and we became the first and only digital marketplace that enables consumers to buy a new, certified pre-owned, or used vehicle entirely online. Furthermore, we have taken steps to begin monetizing our rich proprietary datasets, recognizing the potential to unlock powerful insights for our partners and enable an increased level of personalization across the consumer buying journey. While these initiatives represent a natural extension of our unique competitive strengths, they also represent a departure from the traditional role of a third-party listings and lead gen provider. As such, we want to take this opportunity to better define and articulate the diverse range of opportunities TrueCar envisions across these segments. TRUECAR REIMAGINED 1 - Legacy Business: Core Lead Generation & OEM Incentives TrueCar has long been recognized for empowering its network of TrueCar Certified Dealers to connect with high-intent car shoppers that trust TrueCar for its delivery of transparent pricing on new, certified pre-owned, and used vehicles. Since 2005, TrueCar has scaled to play a critical role within the automotive retail ecosystem by leveraging several distinct competitive advantages that have earned us a reputation for providing high-quality new car leads and made TrueCar a trusted partner for nearly every major franchise dealer group in the United States. These unique competitive strengths include: 1. New Vehicle Shopper UX: TrueCar is the preeminent listings site for new car buyers due to its differentiated consumer experience that leverages our integrated OEM vehicle build data to empower new car shoppers visiting TrueCar to customize their new vehicle search in order to match the most detailed trim-specific build criteria. Outside of TrueCar, shoppers can only find this new-vehicle build experience on OEM or franchise dealer sites. These platforms are inherently challenging to navigate for consumers who are interested in cross-shopping different brands. On TrueCar, however, consumers can shop across nearly 11,500 TrueCar Certified Dealers that collectively boast approximately 1.2 million new vehicle listings, representing over 40% of new vehicle inventory nationwide. 2. Exclusive Affinity Network: One of TrueCar’s primary competitive advantages is its Affinity Network, which comprises over 250 membership organizations such as Sam's Club, AAA and Navy Federal Credit Union. These partnerships are uniquely tailored to reflect the distinct attributes and member bases of TrueCar’s Affinity Partners and are actively maintained to evolve and grow in the face of changing markets and consumer habits. As the exclusive auto-buying partner to nearly all of these organizations, TrueCar powers 2

white-labeled/co-branded car-buying sites for the benefit of their members who can gain access to private targeted offers from Certified Dealers and OEMs alike. As the only third-party listings site with a powerful network of Affinity Partners, TrueCar is able to provide its dealer partners with access to a closed ecosystem of high-converting car shoppers that are already engaged with the TrueCar platform and cannot be replicated by competitors. 2. OEM Incentive Programs: In addition to providing TrueCar Certified Dealers with access to unique high-quality leads, the Affinity Network enables TrueCar to power targeted incentive programs on behalf of OEMs. As the only third-party platform with the ability to offer targeted OEM incentives to a closed ecosystem of car shoppers, TrueCar uniquely addresses a common challenge faced by all OEMs: offering discounts and incentives to strategically increase market share without eroding residual values. TrueCar’s competitive strengths and differentiated position among competing third-party listings sites enabled the Company to grow its penetration of U.S. franchise dealers to greater than 50% in 2020 before the global chip shortage drove new vehicle supply to unprecedented lows. Such macroeconomic challenges contributed to more than one-third of TrueCar’s franchise dealer base leaving the platform from 2020 to 2022. In an environment where demand for new vehicles far outstripped supply and the average new vehicle retailed well above the manufacturer’s suggested retail price (“MSRP”), TrueCar’s competitive strengths and value proposition were diminished from the perspective of most franchise dealers. Similarly, OEMs that were unable to produce enough vehicles to meet demand ceased virtually all incentives. Over this period, our unique positioning and differentiated value proposition, which had enabled us to penetrate over half of all U.S. franchise dealers, disproportionately impacted our business relative to our competitors over this period. However, over the last 18 months, these unprecedented conditions that presented profound headwinds have begun to shift into tailwinds for growth. With new vehicle supply continuing its trajectory towards pre-pandemic levels and franchise dealer lots beginning to bloat, we are gradually but consistently rebuilding our franchise dealer base. Meanwhile, OEMs have begun to re-enter the market with incentives to stimulate new-vehicle demand in the face of high consumer financing costs and with that, our unique incentive program capabilities are increasingly in demand. Therefore, while the post-pandemic market environment disproportionately impacted TrueCar’s business, current conditions and the market’s projected trajectory over the next several years appear to favor TrueCar and its unique competitive strengths, positioning the Company for strong near-term growth and market share gains across its core franchise lead generation and OEM business lines. 3

2 - TrueCar Marketing Solutions The value of TrueCar also lies in the innovative offerings and new business lines it has recently launched as well as the untapped monetization opportunities that exist within the Company’s rich proprietary data sets. Facing the recent headwinds discussed above, TrueCar has taken significant steps to evolve its product offerings to better meet the needs of today’s consumers, dealers and OEMs. These products include: 1. TrueCar Marketing Solutions (“TCMS”): Launched in Q1 2024, TCMS is a suite of marketing products designed to leverage TrueCar's proprietary data sets to help dealers more effectively target and acquire consumers. These products are tailored to address the significant decline in marketing efficiency that many dealers have experienced over the last several years and represent a sizable expansion of TrueCar's addressable market given that franchise dealers in the U.S. spend roughly $9 billion annually on advertising1, a large share of which is allocated to traditional search engine marketing and paid social channels that have recently experienced sharp efficiency declines. 2. OEM Ad Sales: While TrueCar’s legacy business model derives revenues from OEMs through its targeted incentive programs, the Company has never sold ad placements as a way to monetize its monthly audience of over 7 million unique shoppers. Seeing the opportunity to build ad placements into the site in a manner that actually enhances rather than detracts from the consumer experience, TrueCar recently augmented its website with an integrated ad server that enables OEMs to effectively advertise and drive consumer awareness for their brands, marking the Company’s initial expansion into the large addressable market of OEM digital advertising, which totaled $19 billion in 20232. Most importantly, enabling OEMs to compete for impressions and capture share of new car buyers is a natural and complementary extension of TrueCar’s existing OEM incentive programs that is expected to deepen the Company’s existing OEM partnerships. 3 - The TRUE Online Transaction Marketplace: TC+ (with Wholesale) TrueCar+ (“TC+”): Arguably the most consequential new product that TrueCar has developed, TC+ enables consumers to buy a new, certified pre-owned, or used vehicle entirely online from the comfort of their couch. With the beta launch of TC+ within California on July 17, 2024, which followed several years of product development and millions of dollars of R&D, TrueCar became the first and only automotive marketplace to enable a fully-digital car buying experience. The significance of this milestone cannot be overstated because despite the many companies that claim to sell cars online, few of them have solved the myriad complexities of a fully-digital end-to-end transaction. TC+ establishes the first marketplace platform through which consumers can complete the essential transaction steps for purchasing a new, certified pre-owned, or used vehicle in less than 10 minutes from the comfort of their couch. Once scaled nationwide, TC+ has the potential to disrupt the automotive retail ecosystem and break down the barriers that have limited e-commerce adoption by providing consumers with the convenience and flexibility to buy a car online anywhere in the country while providing dealers with a retailing solution that expands their addressable market and grows their bottom line through 4 1 National Automobile Dealers Association, 2023 Annual Financial Profile of America’s Franchised New-Car Dealership 2 Statista, “Automotive Industry Digital Advertising Spending”

sales efficiencies and enhanced pricing power. Moreover, an analysis of consumer verticals that have experienced a shift towards e-commerce over the last 20 years shows that the adoption of online buying within each vertical is quickly followed by the emergence of a digital marketplace that rapidly achieves scale by providing buyers and sellers across fragmented markets with an easy way to transact. TC+ seeks to become the modern marketplace for car buying and selling. Also, an efficient and fully-deployed marketplace combined with all of the Company’s transaction data positions the Company to establish more accurate real-time trade-in values. As such, we believe that TC+ has the potential to effectively replace the traditional wholesale market as it will allow dealers to have direct access to the most up-to-date and efficient end-consumer pricing, avoiding the need to go through wholesalers. 4 - Data Monetization & AI/ML Platform Opportunities The Company has a robust technology and data foundation utilizing key partnerships for data management and is implementing a development approach governed by artificial intelligence (“AI”) and machine learning (“ML”). To enable future value creation, TrueCar is rapidly growing its marketing technology (“MarTech”) stack, leveraging industry leading technologies that will allow the Company to further enhance the consumer and dealer experience through AI/ML driven solutions as well as operationalize a full-fledged retail media network supporting OEM marketing and rolling out advanced generative AI use cases. After a thorough evaluation of TrueCar’s extensive proprietary data sets in Q3, we identified several near- and medium-term use cases that have the potential to drive outsized value across three themes: 1. Optimized Consumer Shopping Experience - driving consumer traffic and loyalty by offering a personalized car-buying experience that leverages rich clickstream data and TrueCar’s proprietary incentive, purchase, and lending configuration data. Specific use cases include ML-driven car recommendations, personalized price ratings, real-time inventory badging, and a generative AI shopping assistant. 2. Value Driven Dealer Experience - enhancing our value proposition for dealers by leveraging TrueCar’s closed-loop attribution capabilities, first-party consumer data and integrations with third-party data vendors to provide dealers with actionable insights and analytics on every lead. TrueCar’s rich historical data can be effectively utilized to develop high-accuracy lead classification and consumer-propensity models. 3. Retail Media Network - utilizing TrueCar’s consumer intelligence, DMS sales integrations, and lookalike modeling capabilities to provide OEMs and dealers with access to high-quality audiences through tailored media assets that can be published across a range of platforms and channels. We are prioritizing key use cases across each of these themes and developing robust future state roadmaps against them. In addition, we have made significant enhancements to our data practices and architecture to strengthen the capabilities of our MarTech stack as well as enable the development of specific modular AI/ML models that will unlock key improvements to the consumer and dealer experiences on TrueCar. 5

Q3 PERFORMANCE Now that we have defined TrueCar’s unique advantages, which we are leveraging to drive near-term growth and position TrueCar for a much larger role in the future of automotive retail, let us turn to highlights from the third quarter which we believe demonstrate strong traction against these near-term and longer-term goals. The launch of the TC+ pilot on July 17, 2024 was an incredible milestone for the Company. The excitement we felt at launch was quickly eclipsed when we successfully fulfilled the first used vehicle order followed by our first new vehicle order. These orders were completed 100% online without any offline interactions between the dealer and consumer. The significance of this cannot be overstated, as it represents a new way of buying and selling a vehicle that, simply put, has not been done before. With these orders successfully fulfilled, the pilot’s primary objective has been achieved and each subsequent order has provided new learnings and insights that are driving the refinement of both the consumer and dealer experiences. In total, approximately 30 consumers have completed the entire process online, each culminating with the digital execution of a Retail Installment Contract (“RIC”) and, more importantly, these orders came from consumers across 13 different states, providing strong early evidence that TC+ has the power to significantly expand a dealer’s addressable market beyond its backyard. And while the total number of transactions might not seem significant at first, thus far, TC+ has only been exposed to a subset of consumers within specific flows on TrueCar.com that collectively account for a fraction of our total monthly unit sales. In fact, over the past 30 days, TC+ accounted for roughly half of the volume that the pilot dealer traditionally generates through those flows, suggesting that when fully enabled, TC+ can account for a significant share of a dealer’s total volume. This deliberate and controlled approach to opening up the consumer aperture and expanding the number of shoppers going through the TC+ flow has allowed the team to closely measure and monitor each step of the process for insights and opportunities that have already helped us refine and improve the product and remove friction from both the consumer and dealer experience. Now in the next phase of the pilot, we are preparing to introduce TC+ on certain Affinity Partner auto-buying sites which will significantly expand access to the TC+ flow and should allow TrueCar to observe key differences in consumer adoption across a diverse set of audiences. Beyond expanding consumer access to TC+, our focus and objectives for the pilot in Q4 include integrating AI-powered tools that strengthen our ability to detect and mitigate the risk of consumer fraud and continuing to enhance our integration with our dealers’ backend systems to further streamline the TC+ buying process on the dealer side. These first 90 days have been richly rewarding through the validation and learnings they have offered and as we look ahead, the team is incredibly excited and energized by the opportunity that TC+ represents. Finally, we are extremely grateful for the partnership shown by the dealer group piloting our product and are looking forward to adding additional dealers throughout California and beyond over the next several months. Turning now to a summary of Q3 financial and operational highlights. Total revenue in Q3 was $46.5 million, representing a $5.4 million (or 13.1%) increase from the same period last year and a $4.7 million (or 11.4%) increase from the prior quarter. Our Q3 net loss decreased to $5.8 million from $7.9 million in Q3 2023 and we achieved adjusted EBITDA3 profitability of $0.2 million, down from $0.8 million in the same period last year, primarily due to $0.8 million of non-recurring consulting expenses.

Our core franchise dealer business continued to strengthen in Q3 with franchise dealer revenue growing 12.7% YoY and 5.5% QoQ. Most importantly, despite the industry’s 1.3% YoY decline in industry new vehicle retail sales in Q3, TrueCar grew new vehicle sales by 16.3% YoY driven, in part, by the incremental marketing investments we have been making over the last six months. This equates to nearly seven new unit sales per franchise dealer, which is the highest level since Q3 2021! As we have previously articulated, a key building block for achieving our long-term growth objectives is to regain our share of franchise dealers through activating new dealers and minimizing churn and in order to achieve that we must demonstrate TrueCar’s ability to capture share of total new vehicle sales by delivering strong new unit growth in excess of the overall industry growth. Another sign of the strengthening of our core franchise dealer business is the adoption of TrueCar Marketing Solutions (“TCMS”) and in Q3, this relatively new product offering contributed $1.0 million of dealer revenue. Even more encouraging is the performance being achieved by this suite of marketing products. By leveraging our first-party data to help dealers reach highly targeted audiences across a variety of channels, TrueCar is helping dealers achieve significant improvements in their marketing efficiency while growing their overall sales volumes. Given that growing revenue per dealer is another core building block for achieving our 2026 revenue target, TCMS is allowing us to capture a greater share of wallet and drive real traction against this building block. In addition to the momentum of our franchise dealer business, our OEM business remains strong and positioned for near-term growth. Despite being down 11.5% YoY, a decline attributed to two heavily marketed incentive programs during the same period last year, Q3 OEM revenue increased by $1.4M (or 45%) from the second quarter driven by strong performance of an incentive program that reactivated in June. As we have discussed previously, factors that impact the performance of incentive programs include the incentive amounts being offered, the breadth of models eligible for incentives, and the number of affinity partners targeted through the program. 7 3 Adjusted EBITDA is a non-GAAP financial measure. Refer to “Use of Non-GAAP Financial Measures,” below, for its definition and a reconciliation to net loss, the most comparable financial measure calculated and presented in accordance with GAAP.

8 Jantoon Reigersman President and Chief Executive Officer Oliver Foley Chief Financial Officer 4 Statista, “Automotive Industry Digital Advertising Spending” 5 Free cash flow and free cash flow margin are non-GAAP financial measures. Refer to “Use of Non-GAAP Financial Measures,” below, for the definition of each such measure. We are unable to provide a reconciliation of forward-looking free cash flow or forward-looking free cash flow margin to the most comparable financial measures calculated and presented in accordance with GAAP without unreasonable effort because we cannot reliably quantify certain of the necessary components of such forward-looking GAAP measures. Beyond incentives, TrueCar signed up its first two OEM advertisers in Q3, marking the launch of a new advertising service to complement our incentive program capabilities and deepen our OEM partnerships. These deals were enabled by recent investments we have made to strengthen our MarTech stack through an integrated ad server capable of running dynamic targeted advertisements across a variety of onsite placements. Priced on a fee per impression basis, these placements offer OEMs an effective way to drive awareness and consideration among the 7 million in-market car shoppers that visit TrueCar each month and do it in a way that is effectively integrated into the superior shopping experience that TrueCar is known for. Furthermore, the launch of ad sales represents a high-margin opportunity for TrueCar to incrementally monetize TrueCar’s millions of unique visitors and opens us up to capture a share of the estimated $19 billion spent annually on digital marketing by OEMs4. Finally, we remain committed to the three-year target that we set last year to grow revenue back to $300 million with a 10% free cash flow margin by the end of 2026. Achieving that goal requires strong execution against the four key building blocks we have discussed and for us to continue pushing to build a better version of TrueCar that deserves to play a key role in the automotive retail ecosystem. To that end, in Q4 we aim to accelerate YoY revenue growth beyond the 13.1% achieved in Q3 and we seek to deliver positive free cash flow in the quarter5. To infinity and beyond!

Table of Contents Market Environment ……………………………………………..……………………………………..… Page 10 Third Quarter 2024 Financial Highlights …………………….…………….………………………. Page 18 Q3 2024 Financial Discussion …………………………………………………….………..…..…..… Page 19 Live Call and Webcast Details ……………….………………………………………….…………..… Page 24 About TrueCar …………………………………………………………………………………...….…..… Page 24 Forward-Looking Statements …………………………………………….……….…………………… Page 25 Use of Non-GAAP Financial Measures ………………………………………….….……………..… Page 27 Financial Statements and Non-GAAP Financial Measures ……………………………..……… Page 29 9

10 Market Environment Overview New vehicle inventory continues to improve steadily. However, demand seems to be lagging due to ongoing affordability concerns. While pricing trends such as lower transaction prices and reduced interest rates have made new cars seem more accessible compared to recent years, average monthly payments remain near record highs and OEM incentives remain well below historical levels. Although monthly payments for used cars also remain near their historic highs, the spread between the average new and used monthly payments grew in Q3, seemingly contributing to many buyers opting to purchase used cars, as evidenced by YoY and QoQ increases in used vehicle sales. Vehicle Sales Volumes New vehicle retail sales in Q3 2024 totaled 3.5 million units, representing a 1.3% decline YoY. Through the end of August, Q3 new vehicle retail sales were up 4.1% YoY but were offset by September sales volumes coming in 11.9% lower than prior year. Despite significantly higher new vehicle supply and a modest decline in new vehicle list prices versus last year, new vehicle affordability continues to challenge many consumers. Used vehicle retail sales in Q3 totaled 4.5 million units, representing 9.8% growth YoY as the affordability of used car purchases improved from last year driven by a 2.4% decrease in the average list price of used vehicles and a 3.2% decrease in the average monthly payment on a used car loan. Source: Motor Intelligence and Cox Automotive MONTHLY NEW AND USED VEHICLE RETAIL SALES (Industry) Used Vehicle SalesNew Vehicle Sales

11 Inventory and Supply Trends In September 2024, new vehicle inventory hit the highest level since April 2020 reaching 2.89 million units, an increase of 63 thousand units (or 2%) QoQ and 875 thousand units (or 43%) YoY. The QoQ growth was driven primarily by Korean brands, which accounted for 51 thousand units (or 81%) of the overall increase. Meanwhile, inventory levels for domestic, Japanese, and European brands remained relatively flat. YoY, the industry saw significant gains across the board, with domestic brands increasing by 353 thousand units (29%), Japanese brands increasing by 217 thousand units (43%), Korean brands by 169 thousand units (146%), and European brands by 126 thousand units (81%). Despite the sustained recovery in new inventory, it continues to remain well below 2019 levels, which ranged between 3.5 million and 4.1 million units. Source: Motor Intelligence NEW VEHICLE INVENTORY (Industry) 2.89M YoY +43%

12 New Vehicle Inventory Growth (Industry) Source: Motor Intelligence YoY or Since September 2023 QoQ or Since June 2024

13 As of the end of September, average days' supply for new vehicles stood at 56 days compared to 55 days and 39 days as of the end of June 2024 and September 2023, respectively. Notably, Mazda and Kia experienced the largest 90-day increases in days’ supply with Mazda rising from 32 to 49 days and Kia growing from 36 to 47 days. In contrast, Mitsubishi and BMW saw significant declines since June dropping from 61 to 31 days and 48 to 36 days, respectively. On a YoY basis, domestic, Japanese, European, and Korean brands increased their days’ supply by 16 days (28%), 12 days (42%), 25 days (84%) and 30 days (144%), respectively. Source: Motor Intelligence DAYS’ SUPPLY ACROSS BRANDS (Industry) - September 2024