<SEC-DOCUMENT>0001023128-20-000046.txt : 20200403
<SEC-HEADER>0001023128-20-000046.hdr.sgml : 20200403
<ACCEPTANCE-DATETIME>20200403163045
ACCESSION NUMBER:		0001023128-20-000046
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20200403
DATE AS OF CHANGE:		20200403
EFFECTIVENESS DATE:		20200403

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LITHIA MOTORS INC
		CENTRAL INDEX KEY:			0001023128
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-AUTO DEALERS & GASOLINE STATIONS [5500]
		IRS NUMBER:				930572810
		STATE OF INCORPORATION:			OR
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14733
		FILM NUMBER:		20773796

	BUSINESS ADDRESS:	
		STREET 1:		150 NORTH BARTLETT STREET
		CITY:			MEDFORD
		STATE:			OR
		ZIP:			97501
		BUSINESS PHONE:		541-776-6401

	MAIL ADDRESS:	
		STREET 1:		150 NORTH BARTLETT STREET
		CITY:			MEDFORD
		STATE:			OR
		ZIP:			97501
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>lad2020annualmeetinglocation.htm
<DESCRIPTION>DEFA14A
<TEXT>
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<div><a name="s7F9EE667741E5B6C8DA91E36B7F920B2"></a></div><div style="line-height:144%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">UNITED STATES </font></div><div style="line-height:144%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION </font></div><div style="line-height:144%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Washington, D.C. 20549 </font></div><div style="line-height:144%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">SCHEDULE 14A INFORMATION</font></div><div style="line-height:144%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Proxy Statement Pursuant to Section 14(a) of the </font></div><div style="line-height:144%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Securities Exchange Act of 1934 (Amendment No. _)</font></div><div style="line-height:144%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:144%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Filed by the Registrant </font><font style="font-family:Wingdings;font-size:11pt;">&#253;</font><font style="font-family:inherit;font-size:11pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Filed by a Party other than the Registrant </font><font style="font-family:Wingdings;font-size:11pt;">&#168;</font></div><div style="line-height:144%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Check the appropriate box:</font></div><div style="line-height:120%;font-size:11pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:91.40625%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:6%;"></td><td style="width:94%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:2px;font-size:11pt;"><font style="font-family:Wingdings;font-size:11pt;">o</font></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:2px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Preliminary Proxy Statement</font></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:2px;font-size:11pt;"><font style="font-family:Wingdings;font-size:11pt;">o</font></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:2px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Confidential, for Use of the Commission Only&#160;(as permitted by Rule 14a-6(e)(2))</font></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:2px;font-size:11pt;"><font style="font-family:Wingdings;font-size:11pt;">o</font></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:2px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Definitive Proxy Statement</font></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:2px;font-size:11pt;"><font style="font-family:Wingdings;font-size:11pt;">&#253;</font></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:2px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Definitive Additional Materials</font></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:2px;font-size:11pt;"><font style="font-family:Wingdings;font-size:11pt;">o</font></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:2px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Soliciting Material Pursuant to &#167;240.14a-12</font></div></td></tr></table></div></div><div style="line-height:144%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#160;</font></div><div style="line-height:144%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">LITHIA MOTORS, INC. </font></div><div style="line-height:144%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">(Name of Registrant as Specified In Its Charter)&#160;&#160;</font></div><div style="line-height:144%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#160;</font></div><div style="line-height:144%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">(Name of Person(s) Filing Proxy Statement, if other than the Registrant)</font></div><div style="line-height:144%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#160;</font></div><div style="line-height:144%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Payment of Filing Fee (Check the appropriate box):</font></div><div style="line-height:120%;font-size:11pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:91.40625%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:6%;"></td><td style="width:12%;"></td><td style="width:82%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:2px;font-size:11pt;"><font style="font-family:Wingdings;font-size:11pt;">&#253;</font></div></td><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:2px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">No fee required.</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:2px;font-size:11pt;"><font style="font-family:Wingdings;font-size:11pt;">o</font></div></td><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:2px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:2px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(1)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Title of each class of securities to which transaction applies:</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:2px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(2)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Aggregate number of securities to which transaction applies:</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:2px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(3)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Per unit price or other underlying value of the transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:2px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(4)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Proposed maximum aggregate value of the transaction:</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:2px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(5)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Total fee paid:</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:2px;font-size:11pt;"><font style="font-family:Wingdings;font-size:11pt;">o</font></div></td><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:2px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Fee paid previously with preliminary materials.</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:2px;font-size:11pt;"><font style="font-family:Wingdings;font-size:11pt;">o</font></div></td><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:2px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Check box if any part of the fee is offset as provided by Exchange Act Rule 240.0-11 and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:2px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(1)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Amount Previously Paid:</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:2px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(2)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Form, Schedule or Registration Statement No.:</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:2px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(3)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Filing Party:</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:2px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(4)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Date Filed:</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><hr style="page-break-after:always"><div><a name="s238C059C763C5D22A593828BCE3A4267"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Lithia Motors, Inc. </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">150 N. Bartlett Street</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#32;Medford, Oregon 97501 </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">ADDITIONAL INFORMATION REGARDING THE 2020 ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON THURSDAY, APRIL 23, 2020</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following Notice of Participation of Remote Communication and Change of Location relates to the proxy statement (the &#8220;Proxy Statement&#8221;) of Lithia Motors, Inc. (the "Company"), dated March 11, 2020, furnished to shareholders of the Company in connection with the solicitation of proxies by the Board of Directors of the Company for use at the 2020 Annual Meeting of Shareholders (the "Annual Meeting") to be held on Thursday, April 23, 2020. This supplement to the Proxy Statement is being filed with the Securities and Exchange Commission and is being made available to shareholders on or about April 3, 2020.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">THE NOTICE SHOULD BE READ IN CONJUNCTION WITH THE PROXY STATEMENT.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NOTICE OF PARTICIPATION BY REMOTE COMMUNICATION AND CHANGE OF LOCATION</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">OF ANNUAL MEETING OF SHAREHOLDERS</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">TO BE HELD ON APRIL 23, 2020</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">To the Shareholders of Lithia Motors, Inc.:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Due to the emerging public health impact of COVID-19 and out of an abundance of caution to support the health and well-being of our employees, directors and shareholders, NOTICE IS HEREBY GIVEN that the Board of Directors of Lithia Motors, Inc. (the &#8220;Company&#8221;) has authorized participation via remote communication for the Company&#8217;s 2020 Annual Meeting of Shareholders (the "Annual Meeting"). As previously announced, the Annual Meeting will be held on Thursday, April 23, 2020 at 8:30 a.m., Pacific Daylight Time. However, in light of public health concerns, the 2020 Annual Meeting will occur online in a virtual format only, via live webcast at www.virtualshareholdermeeting.com/LAD2020 (the "2020 Annual Meeting Website"). You may notify the Company of your desire to participate in the Annual Meeting by remote communication by logging into the 2020 Annual Meeting Website in advance of the meeting. Log-in will begin at 8:15 A.M. Pacific Daylight Time on April 23, 2020. You will not be able to attend the Annual Meeting physically.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As described in the proxy materials for the Annual Meeting previously distributed, you are entitled to participate in the Annual Meeting if you were a shareholder as of the close of business on February 28, 2020, the record date, or hold a legal proxy for the Annual Meeting provided by your bank, broker, or other holder of record. To be admitted to the Annual Meeting at the 2020 Annual Meeting Website, you must enter the control number found on your proxy card, voting instruction form or notice you previously received. Registered shareholders who have misplaced their original proxy materials listing their unique control number can find that information by visiting </font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">www.shareholder.broadridge.com/bcis/</font><font style="font-family:inherit;font-size:10pt;">&#32;and selecting the option to create a profile in the top right-hand corner. Additionally, if you have difficulty accessing the Annual Meeting through the 2020 Annual Meeting Website, a phone number will be posted on the website to connect you to technical support. A list of shareholders entitled to vote at the Annual Meeting will be available during the entire time of the Annual Meeting at the 2020 Annual Meeting Website. You may vote or submit questions during the Annual Meeting by following the instructions available on the 2020 Annual Meeting Website during the Annual Meeting. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Whether or not you plan to attend the Annual Meeting, we urge you to vote and submit your proxy in advance of the Annual Meeting by one of the methods described in the proxy materials for the Annual Meeting. The proxy card included with the proxy materials previously distributed will not be updated to reflect the change in location and may continue to be used to vote your shares in connection with the Annual Meeting.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">By Order of the Board of Directors,</font></div><div style="line-height:120%;text-align:left;"><img src="chsig.jpg" alt="chsig.jpg" style="height:41px;width:136px;"></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Christopher S. Holzshu</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Executive Vice President and Secretary</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">April 3, 2020</font></div><div style="line-height:120%;"><hr></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">The 2020 Annual Meeting of Shareholders on April 23, 2020 at 8:30 a.m. Pacific Daylight Time is available at</font><font style="font-family:inherit;font-size:10pt;">&#160;</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">www.virtualshareholdermeeting.com/LAD2020</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">.</font><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The proxy materials are available on the Internet at&#160;</font><font style="font-family:inherit;font-size:10pt;color:#0563c1;text-decoration:underline;">http://www.proxyvote.com</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div>	</div></body>
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