CarMax : to Open Stand-Alone Reconditioning Center in Carrollton, GA

Company to bring 200 jobs to the community by early 2025

RICHMOND, VA (November 15, 2023) - CarMax, Inc. (NYSE: KMX), the nation's largest retailer of used cars, announces plans to open its first stand-alone reconditioning center, which will be located in Carrollton, Georgia. The exclusive purpose of the state-of-the-art facility will be to recondition used vehicles to be sold to customers at CarMax stores in the Atlanta region, with the ability to ship nationwide.

To support the opening of its new location, CarMax aims to hire up to 100 automotive professionals by the location's opening in February 2024, and an additional 100 automotive professionals by early 2025. Open positions at the center will include technicians, detailers, painters, supply associates, and more. There will be job opportunities for both new and seasoned automotive professionals. Job seekers may learn more and apply for open positions online at careers.carmax.com.

"We are excited to bring approximately 200 jobs to the Carrollton community as we open a stand-alone reconditioning center in Georgia," said Tyrone Payton, VP, regional service operations at CarMax. "We look forward to welcoming new automotive talent to the team. CarMax leads the industry in providing an innovative and world-class experience for our customers and it's our people that are central to our success."

CarMax provides its associates with competitive pay and comprehensive benefits. Automotive professionals find value in the company's award-winning training and development programs, reimbursement programs for certifications, and free or discounted tools. CarMax's generous benefits include:

• Paid time off, medical plan, tuition reimbursement, adoption assistance, and employee stock purchase plan.
• Immediate 401(k) eligibility with an industry-leading 6% match on contributions.
• Endless career paths driven by our variety of roles with unmatched training and support for associate career growth.
• Wellness benefits such as gym discounts and free access to Headspace, which provides guided meditation and mindfulness that can support overall well-being and better sleep.
• Discounts on car purchases, which can be extended to family members - including spouses, parents, grandparents, siblings and children.
• Volunteer team builders and opportunities to make an impact in our communities and support causes associates are passionate about.

"We are excited to welcome CarMax to our community," said Carrollton Mayor, Betty Cason. "We work hard to attract quality employers by focusing on projects that illustrate Carrollton as an attractive place to live, work, and play."

"We are elated to welcome CarMax as they launch their first stand-alone reconditioning center in the country, right here in Carroll County! Their commitment to providing high-quality careers aligns seamlessly with our mission at Carroll Tomorrow to enhance the prosperity of our residents," expressed Brian Dill, CEO and President of Carroll Tomorrow. "We are particularly excited about their eagerness to collaborate with and invest in our local community and dedication to fueling economic growth. It's a privilege to work alongside the City of Carrollton, united in our efforts to attract and nurture companies like CarMax, ultimately elevating the quality of life for Carroll County."

The 70,000 square-foot reconditioning center will be located northwest of Carrollton's city center at 115 Battery Street. CarMax's existing footprint in the Atlanta region includes seven retail stores, a customer contact center in Norcross, an auction facility in Newnan, and CarMax Auto Finance in Kennesaw. CarMax also has retail stores in Augusta, Columbus, Macon and Savannah.

CarMax is committed to helping communities thrive and making a positive social impact. Through The CarMax Foundation's volunteer team-builders, matching gifts and board service programs, CarMax supports the causes that are most important to the diverse communities where it operates. As the company prepares to open the doors of its new reconditioning center, CarMax will look for opportunities to support the Carrollton community.

CarMax has been recognized for several awards including The Atlanta Journal Constitution's Top Workplaces and FORTUNE magazine's Best Workplaces in Retail. Additionally, for 19 consecutive years, CarMax has been named one of FORTUNE magazine's 100 Best Companies to Work For®.

For more information on CarMax and career opportunities visit careers.carmax.com.

CarMax, the nation's largest retailer of used autos, revolutionized the automotive retail industry by driving integrity, honesty and transparency in every interaction. The company offers a truly personalized experience with the option for customers to do as much, or as little, online and in-store as they want. During the fiscal year ended February 28, 2023, CarMax sold approximately 810,000 used vehicles and 590,000 wholesale vehicles at its auctions. In addition, CarMax Auto Finance originated nearly $9 billion in receivables during fiscal 2023, adding to its nearly $17 billion portfolio. CarMax has over 240 stores, more than 30,000 associates, and is proud to have been recognized for 19 consecutive years as one of the Fortune 100 Best Companies to Work For®. CarMax is committed to making a positive impact on people, communities and the environment. Learn more in the 2023 Responsibility Report. For more information, visit www.carmax.com.

CarMax Public Relations

PR@CarMax.com