CarMax Opens in San Jose, California

June 29, 2017

Company announces contributions to local nonprofit

RICHMOND, Virginia (June 29, 2017) – CarMax, Inc . (NYSE: KMX), the nation’s largest retailer of used cars , is celebrating the grand opening of its new store in San Jose, located at 750 West Capitol Expressway. The San Jose CarMax has the capacity to stock approximately 340 used vehicles of nearly every make and model and has brought approximately 80 new jobs to the area.

In celebration of the San Jose store opening, CarMax and The CarMax Foundation awarded $15,000 in donations and grants to the YWCA of Silicon Valley. Funding from these contributions will help support programs dedicated to eliminating racism, empowering women and promoting peace, justice, freedom, and dignity for all. Support for this organization came at the recommendation of the San Jose associates.

“Something that makes CarMax special is our associates’ commitment and passion for community involvement,” said Jon Berwin, location general manager of the San Jose store. “CarMax was founded on the values of integrity and transparency, and our associates live these values every day in how we treat our customers and fellow associates.”

CarMax was founded more than 20 years ago to fundamentally change the way car buying is done. CarMax customers can shop for nearly every make and model at our stores or online at carmax.com, with prices clearly listed for each of our nearly 50,000 vehicles nationwide. In addition, CarMax stands begin vehicles with a 5-Day Money-Back Guarantee and a 30-Day Limited Warranty (60-Day in CT, MN & RI, 90-Day in MA, NY and NJ). The CarMax Foundation has granted more than $30 million on behalf of associates across the country since 2003.

About CarMax

CarMax is the nation’s largest retailer of used cars and operates more than 175 stores in 39 states nationwide. CarMax revolutionized the auto industry by delivering the honest, transparent and high-integrity car buying experience customers want and deserve. For more than 20 years, CarMax has made car buying more ethical, fair and stress-free by offering a no-haggle, no-hassle experience and an incredible selection of vehicles. CarMax makes selling your car easy too, by offering no-obligation appraisals good for seven days. At CarMax, we’ll buy your car even if you don’t buy ours®. CarMax has more than 24,000 associates nationwide and for 13 consecutive years has been named as one of the FORTUNE 100 Best Companies to Work For®. During the 12 months ending February 28, 2017, the company retailed 671,294 used cars and sold 391,686 wholesale vehicles at its in-store auctions. For more information, access the CarMax website at www.carmax.com .

Media Contacts

CarMax Public Relations, PR@CarMax.com

Twitter: @CarMax, Facebook: facebook.com/CarMax

Contact Information

Katharine Kenny
Vice President, Investor Relations
(804) 935.4591
katharine_kenny@carmax.com

Celeste Gunter
Manager of Investor Relations
(804) 935.4597
celeste_gunter@carmax.com

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