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.

Scott Cross is Vice President of Human Resources and is responsible for all human resources activities of OPENLANE including payroll, option and stock administration, facilities and benefits. Previously, Mr. Cross was the Vice President of finance at OPENLANE and joined the company in 2001.

Prior to OPENLANE, Mr. Cross served as Corporate Controller of Halo Data Devices, Inc., a manufacturer of mini disk drives, from 1999 to 2001. Prior to Halo Data Devices, Inc., he served as the Vice President of Finance and Administration for Red Herring Communications, Inc., publisher of "Red Herring" magazine. From 1994 to 1996, Mr. Cross was Corporate Controller for Mercury Interactive, a software developer, where he helped manage Mercury Interactive's secondary offering and two technology acquisitions. From 1991 to 1994, Mr. Cross was a senior staff auditor with Price Waterhouse, LLP, where he helped manage Mercury Interactive's initial public offering.

Mr. Cross holds a Bachelor of Science degree in commerce and a minor in English from Santa Clara University.

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.

Jason Ferreri is Senior Vice President of U.S. Commercial Accounts for OPENLANE and is responsible for driving commercial sales throughout the U.S., including overall responsibility for all consignor remarketing programs and the dealer sales team.

Prior to joining OPENLANE, Mr. Ferreri served as vice president of eBusiness sales and operations for ADESA, Inc., where he was responsible for all of the company's private label Internet remarketing initiatives throughout the U.S. and the strategic direction and growth of ADESA's eBusiness. At ADESA since 2004, Mr. Ferreri served numerous roles at the company including vice president of sales and executive director of sales for national accounts.

Mr. Ferreri has been in the vehicle remarketing industry for more than 15 years. He began his career with Mercedes-Benz Financial (MBF) in Fort Worth, Texas, and held various roles in vehicle remarketing with both MBF and Chrysler Financial. Following these roles, he also held a position as vice president, national auction manager with Chase Auto Finance in Tampa, Fla.

Mr. Ferreri earned a Bachelor's degree in financial management from Valparaiso University.

Laurel Finch is Vice President and General Counsel of OPENLANE and is responsible for all legal matters for the company. She has substantial experience in corporate and securities law, in particular, representing public and private technology companies.

Prior to joining OPENLANE, Ms. Finch was Deputy General Counsel and Senior Vice President at Visa USA, Inc., where she oversaw all of Visa USA's corporate, commercial, regulatory and intellectual property legal matters. Ms. Finch was also the lead internal securities lawyer on the Visa corporate reorganization and IPO. Prior to joining Visa USA in May 2006, she was a corporate and securities partner at Venture Law Group and then Heller Ehrman (after VLG's merger with Heller Ehrman in 2003) and served as outside general counsel to numerous public and private technology and life sciences companies for 11 years. Before attending law school, Ms. Finch worked as a commercial lending officer for Citibank.

Ms. Finch holds a J.D. from Stanford Law School, where she was a member of the Order of the Coif, an M.B.A. from the Thunderbird School of Global Management and an A.B. degree from Stanford University.

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.