1 ForwardLooking Statement This presentation contains forward looking

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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 Car. Max, Inc. SEC filings. 2

Car. Max Today Used Car Superstores § Nation’s leading used car specialist § Pioneered used car superstore – 1993 Chicago Kansas City 1 Las Vegas 2 § Operates 47 used car superstores 8 Sacramento 1 1 Los Angeles Dallas/Fort Worth 4 Mid sized Markets (14) Large Markets (8) San Antonio 1 Richmond Raleigh 1 4 Baltimore / DC Knoxville 1 1 1 2 Nashville 1 Greensboro Charlotte Memphis 1 1 Greenville 4 Birmingham 1 Atlanta Houston 4 Tampa 2 2 § FY 03: Sales: Net profit: Separation Costs: Earnings ex Sep. : $ 4 Bn $ 95 mm $ 8 mm $103 mm Orlando 3 Miami / Ft. Lauderdale 3

Car. Max Sells More Cars Sales/Store (Units) 2002 § CARMAX 5, 210 § Public dealers 2, 023 § Average dealer (NADA) 1, 376 4

Why Does Car. Max Work? § Used car focus § Consumer preferred concept § Process driven competitive advantages § Organic growth plan 5

Car. Max Appraisal Process § Car. Max as market maker § 1 mm+ appraisals § ± 250, 000 appraisal buys § Wholesale auctions 6

Car. Max § What about off lease trend? 7

Car. Max § What about incentives? 8

Keys To Healthy Wholesale Market § Active § Efficient § Transparent 9

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