Condition Report Issue 3

Volume 1 | Issue 3

March 23, 2022

CONDITION THE EVENT OF THE YEAR

RECAPPING

NADA ACV UNIVERSITY A HUGE AND HUMBLE THANK YOU

WELLNESS CORNER

REFERRAL BONUS

DE&I CONTENT

WOMEN’S HISTORY MONTH

CONSTRUCTING A FLEXIBLE WELLNESS FRAMEWORK

WHAT IS ‘PROGRAM EXPERIENCE?’

GREAT PEOPLE - REFER GREAT PEOPLE!

WHAT DOES A CEO LOOK LIKE?

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INTRODUCTION

WELCOME TO THE

MARCH ISSUE

Welcome back to the Condition Report, ACV’s Teammate newsletter. As we close out the first quarter of 2022, we wanted to thank each and every one of you for your continued willingness to go above and beyond for ACV and your Teammates. We wouldn’t be where we are today without all of you.

As a reminder, if you’d like to contribute to the Condition Report, please reach out to comms@acvauctions.com.

CONTENTS

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ACV UNIVERSIT Y UPDATES

NADA RECAP

1–2

3–4

DE&I CONTENT

WOMEN’S HISTOR MONTH

9 – 10

11 – 12

E YP E-T JA GU AR 66 19

WELLNESS CORNER

REFERRAL BONUS INFO

5–6

7–8

RY

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ACV UNIVERSITY

A HUGE AND HUMBLE THANK YOU Let me start out with a very generic statement… even the most subtle changes are hard. The average adult takes 3-4 weeks to simply learn a new habit and approximately 66 days for that habit to become automatic. When we try to change the way we think, simple things become

processes became automatic. You didn’t have

extremely challenging and therefore, frustrating.

to think twice about an inspection. Everything

This frustration makes it easy for us to want to

was flowing so well! Then TrueFrame joined

revert to our original way of thinking. This is

the party with their own process and app.

called being human! If you don’t experience

You all had to cross-train onto that platform,

this, please call me and coach me on how to

learn a new structural standard and inspection

fully embrace change in that way! So, where

process. It didn’t happen without confusion or

am I going with this and how is this a huge and

frustration. But with the leadership of RJ, Chris,

humble thank you? Because you all deal with

Eric, and James, you mastered it and embraced

and embrace this every single day. Do we do

it. Because of that, your arbitrations for cosmetic

it perfectly? No. Do we do it right? Absolutely.

and structure dropped. Your confidence

While every single individual in this company

in making a structural call rose. It became

deserves this huge and humble thank you, I

automatic.

want to stop and really recognize the field team and everyone involved in the development of

The next change came when Off-Lease joined

the Single Inspection App, or SIA.

the family! Most of you have had to cross-train onto that platform, learning Mitchell pricing and

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In October of 2018, ACV released CR 1.5. By

manufacture specific guidelines, again having

early 2019, the field had mastered 1.5 and our

to learn a new application and new device

altogether. As you know, it didn’t happen without

frustration, you probably aren’t human. But you

confusion or frustration. But with the leadership

turned that frustration into a passion to make it

of Bobbi, Ken, and the OLS team, you mastered

better, not just for yourselves, but for our dealer

it and embraced it. We can go on and on…CPO

partners. The selflessness that you show every

Inspections, Asset Verifications, ACV Anywhere,

single day is what continually sets ACV apart.

Dayforce, Motus, etc. You embraced it and

And you aren’t done. Every single day you

mastered it.

continue to make this thing better. And I can’t thank you enough. The company can’t thank

That brings me to SIA and the huge and

you enough. Please know that every single

humble thank you. We took all that change

day, we recognize the work you are doing. We

you embraced, and then upended it. Oh, and

recognize fumbling through a new app when it is

it happened in the dead of winter. And what

two degrees outside is not ideal. And so again, I

did you do with it? You embraced it and are

just want to give a HUGE and HUMBLE THANK

mastering it. You all are incredible.Every single

YOU!!!! I am so proud to wear the ACV Logo

day you go out into the elements, dealing with

every single day because of what you do and

draining batteries, sleet, snow, rain and in some

cannot wait to move forward with you all as we

cases, difficult sellers. Yet you haven’t missed

continue to change the status quo.

a beat. Has it been perfect? No. Did you do it right? Absolutely. If you haven’t dealt with some

Be safe. Be well. You. Are. Awesome!

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We had an INCREDIBLE few days at the National Automobile Dealers Association 2022 Conference, meeting with existing and new dealer partners, showcasing our innovative technology, and learning from inspirational speakers. We brought in hundreds of new leads and showed new and existing customers, and members of the media demos of our new exciting offerings from Drivably and Monk.

If you missed the many updates coming out of Las Vegas, be sure to check out all our videos and photos!

Our official NADA 2022 sizzle reel is found on social media on ACV’s Facebook, Instagram, LinkedIn and Twitter.

Click here to see how pumped up we are for the first day of NADA! Click here for a video booth tour with our very own Doug Hadden, where he’ll show you a first look of all the demo stations at our MASSIVE two-story booth.

Check out our recap from Day 2 from our ACV host, Doug Hadden here.

Check out our last video booth update with our very own Randy Barone here.

Additionally, Doug Hadden caught up with his mentor, former employer and sales training legend, Joe Verde, who has some great key takeaways and tips to share. You can check out his insight and interview with Doug here—apologies for the sound quality, the show floor was packed and loud!

Thank you to each and every one of you for making this trip a HUGE success—those on the ground in Las Vegas, back at headquarters and across the country in the field.

We truly could not have done it without you!

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A strong company cannot exist without healthy and happy Teammates.

Making choices centered on our well-being can help us live more fulfilling lives both at work and home. That is why ACV’s Wellness Team has a longterm strategy that includes all aspects of well-being. One of the first steps to building our long-term strategy is constructing a flexible wellness framework that is able to meet the diverse needs of our Teammates. Our goal is to develop a holistic approach to focus on all of the pillars of wellness: Financial, Health & Physical, Emotional & Social.

Each of us can take steps (even small ones!) towards improving our overall well-being. We have an exciting year planned for our Teammates and we hope that you take full advantage of the activities we have in store for the remainder of 2022. As you know, ACV’s most valuable asset is you!

We hope that this holistic approach will help to enhance the lives of our Teammates and their families. Our wellness efforts will support our Teammates to be the best versions of themselves through programs, resources and activities that encourage healthy lifestyle choices.

Interested in becoming a Wellness Champion to help promote and come up with ACV Wellness initiatives? Keep an eye on your email over the next few weeks for more information from ACV Wellness!

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At ACV we love when our team members refer candidates, Great People - Refer Great People! As a Thank You for referring potential candidates ACV has a robust Team Member Referral Program that can be found on the Intranet under the People & Culture Tab (see screenshot below):

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THE PROGRAM All current employees who refer candidates will be eligible for a referral bonus based on the referral guidelines and policy.

All employees can submit an unlimited number of referrals to an unlimited number of job postings.

If ACV hires a candidate referred by a team member for the referred position within 1 year from the date the referral was made, and the requirements of this policy are met, the team member will receive the referral bonus.

This program is subject to change monthly

REQUIREMENTS Both the referring and referred team members must still be employed by ACV Auctions (or its affiliates), in good standing, at the time of payment in order to receive the bonus, and if so, you will receive half of the referral payment at the month end pay period after the referred candidate is employed 30 consecutive days of employment and the remainder on the month end pay period after 180 days.

The candidate was submitted by the ACV employee through ACV’s applicant tracking system (currently Dayforce).

IN DAYFORCE As part of the application in Dayforce, our new applicant tracking system, every candidate is asked: “Did a current employee refer you to ACV Auctions? If so, who?”. In order to receive credit for a referral the candidate MUST list the referrer on their application when applying for a position. (see screen shot)

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ADDITIONAL DETAILS Referral bonuses will be subject to all payroll taxes and applicable withholdings. The human resources and executive teams will decide on any exceptions to this program and final decisions regarding eligibility for a referral bonus. Some Exclusions apply, please review the full program on the intranet for further details and If you have questions around payment on a referred candidate please reach out to Rafi Bloomberg at rbloomberg@acvauctions.com 11 8

WHAT IS ‘PROGRAM EXPERIENCE?’ Pillar III of our Diversity, Equity & Inclusion Initiatives consists of Scholarships and Career Services, led by Otho Wilbur. As part of Program Experience, ACV will provide High School junior and senior students with interactive presentations and direct access to ACV’s own subject matter experts.

Our goal is to surface a variety of potential career paths and the knowledge to succeed in them should they choose to pursue.

To kick off our program, we’re starting with Cleveland Hill HS in Cheektowaga, NY. Six students have been selected from junior and senior classes.

Presentations began February 8th and will run through June 7th.

Students will then create a presentation in any creative format they’d like to show what they’ve learned.

The student with the best presentation will be eligible for a $1,000 scholarship towards any 2 or 4-year secondary school of their choosing.

DEI will scale Program Experience nationwide using learnings and feedback from this pilot.

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OUR COMPLETE LIST OF ACV TEAM MEMBERS WHO WILL MENTOR AND ENGAGE THE STUDENTS OF CLEVELAND HILL. SALLIE REID

MAURA DUGGAN

KRISTEN MOORMAN

VIKAS MEHTA

STEPHANIE CARRIG

PHIL SCHNEIDER

SHEILA HARTWELL

ANDREW PEER

MAGGIE DONNELLY

TONY PERKINS

NATE CARBREY

DAN MAGNUSZEWSKI

ANDREW ATTEA

MATT ROGERS

JOE NEIMAN

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ANISHA KALYANI

ON IWD, A REFLECTION ON WHY REPRESENTATION MATTERS & HOW TO GET THERE. When I was 20, I had my first M&A internship at a tech startup. I earned my spot, I performed very well, and I ranked at the top of my internship class. I was proud of myself. My manager at the time did an end-of-summer review and asked what I aspire to be in my career. “An executive - maybe even a CEO, one day,” I said. His response was something that I will never forget (and yes, this really happened): “You are short. You are a person of color. You have a weird name, and you’re a woman. You’ll never be a CEO.” My 20-year-old world came crashing down. I had lived my first 20 years blindly believing that equality & equity across all lenses of diversity was possible - that it was how the world was working. I grew up believing that no matter who you are, you are judged by the value of your work, and not by what you looked like.

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I left my review that day about to burst into tears.

Improving gender equality at work is a

I remember crying to my mom on the phone, and

fantastic place to start.

she was livid.

Allyship from everyone, not just women, is the

“How can he say that to you?”

“But it’s true mom, isn’t it? Statistically, it’s true.”

And she was silent.

When I think about why representation matters, why days like International Women’s Day matter, this story always comes to the forefront of my mind. Countless studies demonstrate the overwhelmingly positive financial and social impact that diversity has on the workplace. I’ll leave the experts to share their studies (but here’s

best way to get there.

IWD is not just about women - it’s about all of us, especially allies, committing to a more equal world. As we honor International Women’s Day, I encourage you to not only celebrate the women in your life but pledge to do your part to foster a more gender-equal workplace and world.

I invite you to join me in my IWD Pledge to: Celebrate women’s workplace achievements Elevate women’s voices in the workplace

one by McKinsey & Lean In to start.)

Speak up against gender bias—conscious or unconscious

Representation matters. Closing the gender wage

Ensure equal distribution of office “housework”

gap, the gender leadership gap, and the gender wealth gap matter. Closing these gaps on other lenses of diversity matter a lot, too. As you can see from my story, it’s never as straightforward as addressing singular issues. Intersectionality matters tremendously, and it’s on us to learn more about how to make these improvements in the workplace.

There’s a lot of work to do.

Act as a role model for women’s leadership and allyship.

Learn from the incredible role models, of all identities, around me every day.

Happy International Women’s Day - to everyone who is committed to a more inclusive world.

To learn more about IWD, check out: https://www.internationalwomensday.com/ https://leanin.org/iwd

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