3rd October 2022

QUARTER 4 - LET'S FINISH OFF A TURBULENT YEAR IN GOOD WAY - A Team Member Communication & Update

Dear Team Members,

As we're all very much aware, things in the world remain turbulent and unsettled at the moment.

During the previous quarter, we saw the appointment of a new Prime Minister in Liz Truss, the continuation of the Ukraine war and the ongoing effects of the Covid-19 pandemic, causing knock-ons to supply chains, energy sourcing/pricing, general inflation in the economy, and most recently, turmoil in the financial markets.

As we said at the start of Q3, we as individuals and as teams of people working together have little or no control over national and world events, so day to day and week to week, in our roles, in our dealerships and departments, we must continue to remain united and positive against these difficulties, be friendly, helpful and cooperative with our colleagues, be mindful of each other's challenges, and use that as a springboard for creating a "one dealership" approach in order to deliver a truly excellent experience to every customer and potential customer that interacts with us (whether in person, by telephone, via email, on social media and so on). This is our insurance policy.

By doing this, by ensuring that we retain margins, by offering and selling additional products and services, by remaining legal and compliant at all times, by using the "tools and technology" available in the Platinum businesses, by keeping costs under control, and by doing what we say we're going to do to our customers will be the things that make the difference and stand the Platinum Group in good stead going forwards.

As we enter the Quarter 4 trading period, we expect the "situation in the world" to remain turbulent and uncertain, with significant economic "headwinds" and running costs for us to weather (fuel, electric etc); we can best push through by focusing on what is described above.

We'd also like to labour on the point of "costs", so to minimise the effects of this as much as is realistically possible, we ask that all Platinum Team Members give ongoing consideration to the following items whilst in the workplace, and when carrying out company business. Things to consider include, but aren't limited to;

* That thought is given to whether some journeys/errands are necessary, or perhaps where two or more errands could be combined together as one errand in order to save fuel

* That vehicles are refuelled using the cheapest filling station available locally (in cases where there are options and where this is possible)

* That consideration is given as to whether lights or heating are being unnecessarily switched on when they're not needed

* That lights are habitually switched off when going to lunch/to a meeting in another location etc

* That devices which can be switched off are switched off when not in use (computers, tools etc)

Lots of small things add up to bigger things (or bigger savings).

We also take this opportunity to thank you again for your hard work, commitment and resilience during the first nine months of 2022, and look forward to working with you during the final trading stint of the year and beyond. Let's finish off a turbulent year in a good way.

Please ensure that team members without a company email are made aware of this communication.

Yours sincerely,

Jeremy, Odette, Martyn, Paul & Michael
The Board of Directors
Renrod Ltd/Platinum Motor Group