CarMax Opens New Store in Palm Desert

September 12, 2019

Company announces contribution to local nonprofit

RICHMOND, Virginia (September 12, 2019) – CarMax, Inc. (NYSE: KMX), the nation’s largest retailer of used cars, has opened a new store in Palm Desert, CA; the company’s first store in the Coachella Valley and 27th store in the state. CarMax Palm Desert is located at 73450 Dinah Shore Drive and has the capacity to stock approximately 140 used vehicles of nearly every make and model. CarMax customers can also request transfers of almost any vehicle to this store from other CarMax locations throughout the country.

In celebration of the Palm Desert store opening, The CarMax Foundation is awarding a $5,000 grant to the Family YMCA of the Desert. The donation for this organization came at the recommendation of the CarMax Palm Desert associates.

“CarMax associates are dedicated to giving back to the community and appreciate opportunities to partner with local organizations like the YMCA,” said Paul Otanez, location general manager of CarMax Palm Desert. “Our team is thrilled to be a part of the community and to introduce CarMax’s iconic car buying experience to customers in the Coachella Valley.”

CarMax disrupted the industry more than 25 years ago by offering a high integrity car-buying experience customers want that’s transparent and stress-free. Since that time, CarMax has continued to revolutionize the experience through customer-focused technology innovations. Approximately 90% of CarMax purchasers start on CarMax.com or the CarMax mobile app. Customers can browse CarMax’s nationwide inventory of approximately 50,000 vehicles, hold a vehicle for a test drive, schedule an appraisal, and even get pre-qualified for financing before visiting the store. CarMax stands behind their vehicles with a 7-Day Money-Back Guarantee and a limited warranty that covers a vehicle’s major systems for 90 days or 4,000 miles, whichever comes first.

About CarMax

CarMax, the nation’s largest retailer of used cars, revolutionized the automotive retail industry by driving integrity, honesty and transparency in every interaction. CarMax continues to innovate and is currently rolling out an omni-channel experience, providing customers the option to complete transactions entirely from home, in store, or in a seamless combination of both. CarMax has more than 200 stores nationwide, and during the latest fiscal year sold nearly 750,000 used cars and 450,000 wholesale vehicles at its in-store auctions. With more than 25,000 associates, CarMax is proud to have been recognized for 15 consecutive years as one of the Fortune 100 Best Companies to Work For®. For more information, visit www.carmax.com.

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Media Contact:

CarMax Public Relations, (855) 887-2915

pr@carmax.com | @CarMax | facebook.com/CarMax

Contact Information

Investor Relations Department
(804) 747-0422 x 7865
investor_relations@carmax.com

Stacy Frole
Vice President, Investor Relations

Celeste Gunter
Manager, Investor Relations

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