CarMax Analyst Day

Time and Date | Thursday, May 06, 2021 at 09:00AM Eastern Daylight Time

Link to Transcript | CarMax Analyst Day 2021 Transcript

Link to News Release | CarMax 2021 Analyst Day Event

Reconciliation of Non-GAAP Measure

Agenda:

• Bill Nash: Opening Remarks | Presentation
• Diane Cafritz: People | Presentation
• Jim Lyski: Process | Presentation
• Shamim Mohammad: Technology | Presentation
• Jim Lyski: Brand | Presentation
• Bill Nash: Used Auto Ecosystem | Presentation
• Enrique Mayor-Mora: Financial Outlook | Presentation
• Bill Nash: Closing Thoughts
• Q&A

Forward-Looking Statements:

We caution readers that the statements contained in this release about our future business plans, operations, challenges, strategies, opportunities or prospects, including without limitation any statements or factors regarding strategic transactions, sales, market share, margins, expenses, liquidity, capital expenditures, revenue or earnings, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by the use of words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “outlook,” “plan,” “positioned,” “predict,” “should,” “will” and other similar expressions, whether in the negative or affirmative. Such forward-looking statements are based upon management’s current knowledge and assumptions about future events and involve risks and uncertainties that could cause actual results to differ materially from anticipated results. Among the factors that could cause actual results and outcomes to differ materially from those contained in the forward-looking statements are the following:

1. The effect and consequences of the Coronavirus public health crisis on matters including U.S. and local economies; our business operations and continuity; the availability of corporate and consumer financing; the health and productivity of our associates and their access to effective vaccines; the ability of third-party providers to continue uninterrupted service; and the regulatory environment in which we operate.
2. Changes in general or regional U.S. economic conditions.
3. Changes in the availability or cost of capital and working capital financing, including changes related to the asset-backed securitization market.
4. Changes in the competitive landscape and/or our failure to successfully adjust to such changes.
5. Events that damage our reputation or harm the perception of the quality of our brand.
6. Our inability to realize the benefits associated with our omni-channel initiatives.
7. Our inability to realize the expected benefits of strategic transactions, including our proposed acquisition of Edmunds.
8. Our inability to recruit, develop and retain associates and maintain positive associate relations.
9. The loss of key associates from our store, regional or corporate management teams or a significant increase in labor costs.
10. Security breaches or other events that result in the misappropriation, loss or other unauthorized disclosure of confidential customer, associate or corporate information.
11. Significant changes in prices of new and used vehicles.
12. Changes in economic conditions or other factors that result in greater credit losses for CAF’s portfolio of auto loans receivable than anticipated.
13. A reduction in the availability of or access to sources of inventory or a failure to expeditiously liquidate inventory.
14. Changes in consumer credit availability provided by our third-party finance providers.
15. Changes in the availability of extended protection plan products from third-party providers.
16. Factors related to the regulatory and legislative environment in which we operate.
17. Factors related to geographic and sales growth, including the inability to effectively manage our growth.
18. The failure of or inability to sufficiently enhance key information systems.
19. The performance of the third-party vendors we rely on for key components of our business.
20. The effect of various litigation matters.
21. Adverse conditions affecting one or more automotive manufacturers, and manufacturer recalls.
22. The failure or inability to realize the benefits associated with our strategic investments.
23. The inaccuracy of estimates and assumptions used in the preparation of our financial statements, or the effect of new accounting requirements or changes to U.S. generally accepted accounting principles.
24. The volatility in the market price for our common stock.
25. The failure or inability to adequately protect our intellectual property.
26. The occurrence of severe weather events.
27. Factors related to the geographic concentration of our stores.

For more details on factors that could affect expectations, see our Annual Report on Form 10-K for the fiscal year ended February 28, 2021, and our quarterly or current reports as filed with or furnished to the U.S. Securities and Exchange Commission. Our filings are publicly available on our investor information home page at investors.carmax.com. Requests for information may also be made to the Investor Relations Department by email to investor_relations@carmax.com or by calling (804) 747-0422 x7865. We undertake no obligation to update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.