Icahn Automotive Awards Scholarships to 15 Aspiring Automotive Technicians

June 30, 2020

Scholarship program encourages students to “Find Your Drive”

PHILADELPHIA–(BUSINESS WIRE)–Icahn Automotive, an Icahn Enterprises L.P. company, which owns and operates leading repair and maintenance providers Pep Boys, AAMCO and Precision Tune Auto Care, today announced the 15 recipients of its $2500 “Find Your Drive” scholarships. The second annual scholarship program is part of Icahn Automotive’s “Race to 2026” initiative that aims to increase the number of trained automotive technicians across the U.S. and help fill an industry-wide talent gap projected to grow to 46,000 over the next six years.

“Our scholarship program celebrates students who are driven to pursue automotive service as a profession and helps them reach their potential,” said Brian Kaner, CEO – Service. “The skills gap still exists in the U.S. and we’re passionate about using our programs to show talented, motivated students how fulfilling a technical career can be.”

Students receiving scholarships for the 2020-21 academic year are:

Kevin Alvarenga , Mooresville, NC, NASCAR Technical Institute
Savannah Arias, Tustin, CA, Saddleback Community College
Justin Benson, Swedesboro, NJ, Lincoln Tech
Christopher Floyan, Pleasant Valley, NY, Lincoln Tech
Maverick Ellington, New Richmond, OH, NASCAR Technical Institute
Jake Maha, Sayreville, NJ, SUNY Morrisville
Michael Marelli, Florham Park, NJ, Universal Technical Institute
Dylan Muench, Perryville, MO, State Technical College of Missouri
Catherine Nelson, Philadelphia, PA, Lincoln Tech
Michael Nyce, Middlesex, NJ, Universal Technical Institute
Leonel Palacios, Union, NJ, Lincoln Tech
Ramon Perez, Mahwah, NJ, Lincoln Tech
Nelson Ruiz, Dingmans Ferry, PA, Lincoln Tech
Ryan Schweizer, Rockaway, NJ, Universal Technical Institute
Aaron Young, Vernal, UT, Utah Valley University

Each scholarship winner is pursuing an automotive technician degree or certification. All applicants were required to meet certain academic requirements and to provide written or video essays describing “Why I want to be a top technician,” as well as two letters of recommendation. Winners were selected by the Icahn Automotive scholarship committee. The program is designed to award 12 scholarships annually but because several applicants’ scores tied, the committee increased the awards to 15, or $37,500 in total scholarships, for the 2020-2021 academic year.

Now one of the largest service network operators in North America, Icahn Automotive offers a broad range of industry-leading opportunities and career paths, and the “Race to 2026” initiative is focused on finding new ways to make it easier for aspiring technicians to follow their passion for automotive repair and service. In addition to scholarships, the program includes partnerships with leading technical schools, and part-time work and internship opportunities during a student’s education. After graduation, a technician can start with an Icahn Automotive company performing basic maintenance and, by taking advantage of benefits such as tuition assistance, apprenticeships, Company-sponsored certifications and continuing education, they can move on to more complex repairs, or progress to running a Company-owned store, owning and operating a franchised business, or serving in a corporate leadership role.

About Icahn Automotive

Icahn Automotive Group LLC (Icahn Automotive) was formed by its parent, Icahn Enterprises L.P. (NASDAQ: IEP), to invest in and operate businesses involved in aftermarket parts distribution and service. Our businesses have a singular focus: provide premium automotive parts and services at a great value. Icahn Automotive today consists of Pep Boys^® automotive aftermarket retail and service chain, Auto Plus^® automotive aftermarket parts distributor, Precision Tune Auto Care^® owned and franchised automotive service centers, and AAMCO Total Auto Care franchised service centers. The Company also is the licensor of Cottman Transmission and operates under several local brands. The businesses of Icahn Automotive total over 22,000 employees, over 2,000 company-owned and franchise locations, and 25 distribution centers throughout the US, Canada, and Puerto Rico. For more information, visit IcahnAutomotive.com.

Caution Concerning Forward-Looking Statements

This release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, many of which are beyond our ability to control or predict. Forward-looking statements may be identified by words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “seeks”, “estimates”, “will” or words of similar meaning. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. We undertake no obligation to publicly update or review any forward-looking information, whether as a result of new information, future developments or otherwise.

###