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Inchcape History - A Pioneering SpiritThe LighthouseThe Inchcape lighthouse lies 11 miles out to sea off the East coast ofArbroath, Scotland. It stands on one of the most treacherous submerged reefsin the northern hemisphere and is one of the seven wonders of the IndustrialAge.Thanks to the pioneering spirit of a young engineer, Robert Stevenson, whodreamed of building the impossible, a lighthouse was planned on the ‘Rock’that had claimed over 100 lives.Despite many obstacles, Stevenson never lost faith in his plan, and byFebruary 1811, the lighthouse on Inchcape Rock was finished. It is the oldest,sea-standing lighthouse in the world and today, still saves lives.100 years later, inspired by this pioneering spirit, Inchcape’s founder JamesLyle MacKay, when awarded a title for his services to industry became thefirst ‘Baron Inchcape of Strathnaver’ and so named the company that he led.

Inchcape History - A Pioneering SpiritEarly HistoryMany of the companies that were eventually to become part of the InchcapeGroup can trace their roots back to merchant partnerships founded in the 18thand 19th centuries in the Persian Gulf, East Africa, India, China, Hong Kongand Japan.The Inchcape Group was largely built by James Lyle Mackay (pictured), whowas born in 1852 to prosperous Scottish ship owner. When Mackay was 12,his father died, leaving him substantial independent means. Mackay turned toa career in shipping and overseas trade, but was disenchanted by the lack ofcommercial opportunities in Scotland.In 1874 he went to India to work as a clerk with a Scottish firm of traders andshipping agents. This company was engaged in a number of diverse businessactivities - from trading tea, sugar and textiles to insurance and banking - andeventually he ended up at the helm of the organisation.It was Mackay’s grandson, the third Lord Inchcape, who rationalised thewidespread family businesses into a series of complementary activities, andbrought them together within one holding company. That company, Inchcape& Co Limited, was the forerunner of the present Inchcape Group and it wasfloated on the London Stock Exchange in 1958.At the end of the 1990’s the Group became focused purely on the automotiveindustry. This decision paved the way to Inchcape’s position as one of theleading vehicle distribution and retailing companies in the world today.

Inchcape History - A Pioneering SpiritRecent History TimelineInchcape & Co Limited, was the forerunner of the present Inchcape Groupand it was floated on the London Stock Exchange in 1958.1958Holding company, Inchcape & Company Ltd was established in UK.1971Group established as Inchcape plc.1986Sir George Turnbull appointed Chief Executive of Inchcape Group.1990Philip Cushing joins the Group1992Inchcape acquired the Spinney’s group of companies. Sir David Plastowappointed Chief Executive of the Inchcape Group.Inchcape acquired Hogg Group PLC, merging with Inchcape’s Bain Clarksonto form the Bain Hogg Group.1995Peter Johnson joins as Chief Executive Inchcape Retail Motors UK.1996Sir Colin Marshall, chairman of CBI and chairman of British Airways PLCappointed as Chairman of the Inchcape Group.Divestment of Inchcape Testing Services and Bain Hogg Group.Philip Cushing becomes Group CEO and announces focus on Motors andMarketing.1997Automotive now contributing 72% of Group profits.1998Board announces decision to focus solely on motor vehicle operations.Peter Johnson appointed to the Board.1999Peter Johnson appointed as Group Chief Executive.

Inchcape History - A Pioneering Spirit2000Inchcape’s first year trading exclusively as an automotive services group.Focus on six core markets Australia, Belgium, Greece, Hong Kong, Singaporewith the UK the main focus for investment.2001Ken Hanna joins Board as non-executive Director. Acquisition of Bates MotorGroup Ltd in the UK.2005André Lacroix joins as Group CEO Designate.2006Sir John Egan retires as Chairman and succeeded by Peter Johnson.Announcement of a six for one share split to increase liquidity of the stock.André Lacroix appointed as Group CEO. Acquisition of Keystar Motors Pty Ltdin Australia. Acquisition of Lind Automotive Group in the UK. Acquisition ofEuropean Motor Holdings in the UK Entry into Russia with announcement of75.1% acquisition of Axel Car in St. Petersburg.2007Focus on eight core markets Australia, Belgium, Greece, Hong Kong,Singapore, UK, China and Russia Inchcape opens first retail centre in China –Toyota Shaoxing.Acquisition of 67% of UAB Vitvela in Lithuania. Acquisition of Baltic Motorsand BM Auto in Latvia. Strengthened position in St Petersburg with acquisitionof Audi and Peugeot retail centres from Olimp.2008Acquisition of remaining stake in Olimp Group in St Petersburg.Acquisition of one of Russia’s largest car retaining groups, Musa Motors inMoscow. Opening of Lexus Shaoxing.2009Group announces successful nine for one Rights Issue to and strengthenscapital structure. Peter Johnson Retires Chairmanship. Ken Hanna isappointed as non-executive Chairman.2010Inchcape strengthens its position during an unprecedented economicdownturn, delivering a resilient financial performance, with record operatingcash flow and in a net cash position, demonstrating the defensive strengths ofInchcape’s unique business model and the success of its responsivemanagement.