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forward looking statement
This presentation contains forward-looking statements, which are subject to risks and uncertainties. Additional discussion of factors that could cause actual results to differ materially from management’s projections, forecasts, estimates and expectations is contained in the CarMax, Inc. SEC filings.Forward-Looking Statement

2

carmax today used car superstores

1

Mid-sized Markets (14)

Large Markets (8)

CarMax TodayUsed Car Superstores
  • Nation’s leading used car

specialist

  • Pioneered used car superstore

–1993

  • Operates 47 used car superstores
  • FY03:
    • Sales: $ 4Bn
    • Net profit: $ 95mm
    • Separation Costs: $ 8mm
    • Earnings ex Sep.: $103mm

Chicago

8

1

Sacramento

4

Baltimore / DC

Kansas City

1

Richmond

1

Raleigh

1

Las Vegas

Knoxville

1

2

2

1

1

1

Nashville

1

Greensboro

Charlotte

Los Angeles

Memphis

4

Greenville

1

4

Birmingham

Atlanta

Dallas/Fort Worth

4

Houston

2

San Antonio

Orlando

1

2

Tampa

3

Miami / Ft. Lauderdale

3

carmax sells more cars
CarMax Sells More Cars

Sales/Store (Units)

2002

  • CARMAX 5,210
  • Public dealers 2,023
  • Average dealer (NADA) 1,376

4

why does carmax work
Used car focus

Consumer-preferred concept

Process-driven competitive advantages

Organic growth plan

Why Does CarMax Work?

5

carmax appraisal process
CarMax as market maker

1mm+ appraisals

± 250,000 appraisal buys

Wholesale auctions

CarMax Appraisal Process

6