CVNA

SEC source: 0001209191-21-046837 · doc4.xml · nonDerivative · entry 4

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F2 · kind: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by Ernest C. Garcia II and Elizabeth Joanne Garcia on June 15, 2020, as modified.

F3 · price: Column 4 reflects a weighted average price. Shares sold in multiple transactions at prices ranging from $321.095-$322.08 (weighted average $321.7274); $322.16-$323.15 (weighted average $322.8515); $323.16-$324.15 (weighted average $323.7998); $324.17-$325.155 (weighted average $324.4795); $325.19-$326.15 (weighted average $325.6112); $326.20-$327.15 (weighted average $326.6768); $327.21-$328.16 (weighted average $327.5731); and $328.35-$329.00 (weighted average $328.6307), respectively. Reporting person undertakes to provide issuer, securityholder of issuer or SEC staff, upon request, information regarding number of shares sold at each separate price within ranges set forth herein.

SEC source: 0001209191-21-046837 · doc4.xml · nonDerivative · entry 3

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,371

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Reflects the conversion of Class A Common Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") owned directly by Ernest C. Garcia II into shares of Class A Common Stock ("Class A Shares") of the Issuer pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").

SEC source: 0001209191-21-046837 · doc4.xml · nonDerivative · entry 2

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F2 · kind: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by Ernest C. Garcia II and Elizabeth Joanne Garcia on June 15, 2020, as modified.

F3 · price: Column 4 reflects a weighted average price. Shares sold in multiple transactions at prices ranging from $321.095-$322.08 (weighted average $321.7274); $322.16-$323.15 (weighted average $322.8515); $323.16-$324.15 (weighted average $323.7998); $324.17-$325.155 (weighted average $324.4795); $325.19-$326.15 (weighted average $325.6112); $326.20-$327.15 (weighted average $326.6768); $327.21-$328.16 (weighted average $327.5731); and $328.35-$329.00 (weighted average $328.6307), respectively. Reporting person undertakes to provide issuer, securityholder of issuer or SEC staff, upon request, information regarding number of shares sold at each separate price within ranges set forth herein.

SEC source: 0001209191-21-046837 · doc4.xml · nonDerivative · entry 1

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,429

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Reflects the conversion of Class A Common Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") owned directly by Ernest C. Garcia II into shares of Class A Common Stock ("Class A Shares") of the Issuer pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").

SEC source: 0001209191-21-046597 · doc4.xml · derivative · entry 17

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 50,897,781

Underlying: Class A Common Stock · 60,000 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Reflects the conversion of Class A Common Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") owned directly by Ernest C. Garcia II into shares of Class A Common Stock ("Class A Shares") of the Issuer pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").

F1 · derivative.exercise_date: Reflects the conversion of Class A Common Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") owned directly by Ernest C. Garcia II into shares of Class A Common Stock ("Class A Shares") of the Issuer pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").

F1 · derivative.expiration_date: Reflects the conversion of Class A Common Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") owned directly by Ernest C. Garcia II into shares of Class A Common Stock ("Class A Shares") of the Issuer pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").

SEC source: 0001209191-21-046597 · doc4.xml · nonDerivative · entry 13

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 40,718,225

F6 · price: Reflects the cancellation for no consideration of Class B Common Stock of the Issuer ("Class B Shares") in connection with the conversion of Class A Units into Class A Shares. Following the reported transaction, the remaining Class B Shares are owned directly by Ernest C. Garcia II.

SEC source: 0001209191-21-046597 · doc4.xml · nonDerivative · entry 10

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F2 · kind: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by Ernest C. Garcia II and Elizabeth Joanne Garcia on June 15, 2020, as modified.

F3 · price: Column 4 reflects a weighted average price. Shares sold in multiple transactions at prices ranging from $321.825-$322.82 (weighted average $322.5126); $322.83-$323.82 (weighted average $323.4013); $323.83-$324.81 (weighted average $324.2492); $324.88-$325.875 (weighted average $325.4349); and $325.89-$326.81 (weighted average $326.2433), respectively. Reporting person undertakes to provide issuer, securityholder of issuer or SEC staff, upon request, information regarding number of shares sold at each separate price within ranges set forth herein.

SEC source: 0001209191-21-046597 · doc4.xml · nonDerivative · entry 9

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,600

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Reflects the conversion of Class A Common Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") owned directly by Ernest C. Garcia II into shares of Class A Common Stock ("Class A Shares") of the Issuer pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").

SEC source: 0001209191-21-046597 · doc4.xml · nonDerivative · entry 8

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F2 · kind: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by Ernest C. Garcia II and Elizabeth Joanne Garcia on June 15, 2020, as modified.

F3 · price: Column 4 reflects a weighted average price. Shares sold in multiple transactions at prices ranging from $321.825-$322.82 (weighted average $322.5126); $322.83-$323.82 (weighted average $323.4013); $323.83-$324.81 (weighted average $324.2492); $324.88-$325.875 (weighted average $325.4349); and $325.89-$326.81 (weighted average $326.2433), respectively. Reporting person undertakes to provide issuer, securityholder of issuer or SEC staff, upon request, information regarding number of shares sold at each separate price within ranges set forth herein.

SEC source: 0001209191-21-046597 · doc4.xml · nonDerivative · entry 7

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,609

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Reflects the conversion of Class A Common Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") owned directly by Ernest C. Garcia II into shares of Class A Common Stock ("Class A Shares") of the Issuer pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").

SEC source: 0001209191-21-046597 · doc4.xml · nonDerivative · entry 6

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F2 · kind: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by Ernest C. Garcia II and Elizabeth Joanne Garcia on June 15, 2020, as modified.

F3 · price: Column 4 reflects a weighted average price. Shares sold in multiple transactions at prices ranging from $321.825-$322.82 (weighted average $322.5126); $322.83-$323.82 (weighted average $323.4013); $323.83-$324.81 (weighted average $324.2492); $324.88-$325.875 (weighted average $325.4349); and $325.89-$326.81 (weighted average $326.2433), respectively. Reporting person undertakes to provide issuer, securityholder of issuer or SEC staff, upon request, information regarding number of shares sold at each separate price within ranges set forth herein.

SEC source: 0001209191-21-046597 · doc4.xml · nonDerivative · entry 5

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 20,638

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Reflects the conversion of Class A Common Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") owned directly by Ernest C. Garcia II into shares of Class A Common Stock ("Class A Shares") of the Issuer pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").

SEC source: 0001209191-21-046597 · doc4.xml · nonDerivative · entry 4

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F2 · kind: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by Ernest C. Garcia II and Elizabeth Joanne Garcia on June 15, 2020, as modified.

F3 · price: Column 4 reflects a weighted average price. Shares sold in multiple transactions at prices ranging from $321.825-$322.82 (weighted average $322.5126); $322.83-$323.82 (weighted average $323.4013); $323.83-$324.81 (weighted average $324.2492); $324.88-$325.875 (weighted average $325.4349); and $325.89-$326.81 (weighted average $326.2433), respectively. Reporting person undertakes to provide issuer, securityholder of issuer or SEC staff, upon request, information regarding number of shares sold at each separate price within ranges set forth herein.

SEC source: 0001209191-21-046597 · doc4.xml · nonDerivative · entry 3

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 21,615

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Reflects the conversion of Class A Common Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") owned directly by Ernest C. Garcia II into shares of Class A Common Stock ("Class A Shares") of the Issuer pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").

SEC source: 0001209191-21-046597 · doc4.xml · nonDerivative · entry 2

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F2 · kind: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by Ernest C. Garcia II and Elizabeth Joanne Garcia on June 15, 2020, as modified.

F3 · price: Column 4 reflects a weighted average price. Shares sold in multiple transactions at prices ranging from $321.825-$322.82 (weighted average $322.5126); $322.83-$323.82 (weighted average $323.4013); $323.83-$324.81 (weighted average $324.2492); $324.88-$325.875 (weighted average $325.4349); and $325.89-$326.81 (weighted average $326.2433), respectively. Reporting person undertakes to provide issuer, securityholder of issuer or SEC staff, upon request, information regarding number of shares sold at each separate price within ranges set forth herein.

SEC source: 0001209191-21-046597 · doc4.xml · nonDerivative · entry 1

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,538

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Reflects the conversion of Class A Common Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") owned directly by Ernest C. Garcia II into shares of Class A Common Stock ("Class A Shares") of the Issuer pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").

SEC source: 0001690820-21-000212 · wf-form4_162621578681248.xml · derivative · entry 3

BREAUX PAUL W. · CIK 0001700545 · See Remarks

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 78,682

Underlying: Class A Common Stock · 1,000 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · derivative.exercise_price: The exchanged Class B Units have a participation threshold of $4.878. The Class B Units have no expiration date.

F1 · kind: The reported sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 5, 2020. The Reporting Person acquired the Class A Common Stock on July 9, 2021 by exchanging 1,275 Class B common units of Carvana Group, LLC ("Class B Units") for 1,000 shares of Class A Common Stock pursuant to an exchange agreement among the Issuer and certain common unit holders of Carvana Group, LLC, dated April 27, 2017 (the "Exchange Agreement").

F2 · kind: The Exchange Agreement permits holders of Class B Units to exchange their Class B Units for a number of shares of the Issuer's Class A Common Stock equal to the Class A Common Stock Value less the Adjusted Participation Threshold (as each term is defined in the Exchange Agreement) multiplied by 0.8 times the number of Class B Units being exchanged, divided by the Class A Common Stock Value.

F3 · kind: The exchanged Class B Units have a participation threshold of $4.878. The Class B Units have no expiration date.

F1 · shares: The reported sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 5, 2020. The Reporting Person acquired the Class A Common Stock on July 9, 2021 by exchanging 1,275 Class B common units of Carvana Group, LLC ("Class B Units") for 1,000 shares of Class A Common Stock pursuant to an exchange agreement among the Issuer and certain common unit holders of Carvana Group, LLC, dated April 27, 2017 (the "Exchange Agreement").

F2 · shares: The Exchange Agreement permits holders of Class B Units to exchange their Class B Units for a number of shares of the Issuer's Class A Common Stock equal to the Class A Common Stock Value less the Adjusted Participation Threshold (as each term is defined in the Exchange Agreement) multiplied by 0.8 times the number of Class B Units being exchanged, divided by the Class A Common Stock Value.

F3 · shares: The exchanged Class B Units have a participation threshold of $4.878. The Class B Units have no expiration date.

F3 · price: The exchanged Class B Units have a participation threshold of $4.878. The Class B Units have no expiration date.

F3 · derivative.exercise_date: The exchanged Class B Units have a participation threshold of $4.878. The Class B Units have no expiration date.

F3 · derivative.expiration_date: The exchanged Class B Units have a participation threshold of $4.878. The Class B Units have no expiration date.

F1 · derivative.underlying_shares: The reported sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 5, 2020. The Reporting Person acquired the Class A Common Stock on July 9, 2021 by exchanging 1,275 Class B common units of Carvana Group, LLC ("Class B Units") for 1,000 shares of Class A Common Stock pursuant to an exchange agreement among the Issuer and certain common unit holders of Carvana Group, LLC, dated April 27, 2017 (the "Exchange Agreement").

F2 · derivative.underlying_shares: The Exchange Agreement permits holders of Class B Units to exchange their Class B Units for a number of shares of the Issuer's Class A Common Stock equal to the Class A Common Stock Value less the Adjusted Participation Threshold (as each term is defined in the Exchange Agreement) multiplied by 0.8 times the number of Class B Units being exchanged, divided by the Class A Common Stock Value.

F3 · derivative.underlying_shares: The exchanged Class B Units have a participation threshold of $4.878. The Class B Units have no expiration date.

F4 · balance_after: The Reporting Person was granted 250,000 Class B Units on December 30, 2015 with a participation threshold of $4.878; 50,000 of which vested on August 3, 2016 and 4,167 of which vest on the first of each month beginning September 1, 2016. The Reporting Person was also granted 12,500 Class B Units on January 29, 2016 with a participation threshold of $4.878; 2,500 of which vested on August 3, 2016 and 209 of which vest on the first of each month beginning September 1, 2016.

SEC source: 0001690820-21-000212 · wf-form4_162621578681248.xml · nonDerivative · entry 1

BREAUX PAUL W. · CIK 0001700545 · See Remarks

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 30,642

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: The reported sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 5, 2020. The Reporting Person acquired the Class A Common Stock on July 9, 2021 by exchanging 1,275 Class B common units of Carvana Group, LLC ("Class B Units") for 1,000 shares of Class A Common Stock pursuant to an exchange agreement among the Issuer and certain common unit holders of Carvana Group, LLC, dated April 27, 2017 (the "Exchange Agreement").

F1 · price: The reported sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 5, 2020. The Reporting Person acquired the Class A Common Stock on July 9, 2021 by exchanging 1,275 Class B common units of Carvana Group, LLC ("Class B Units") for 1,000 shares of Class A Common Stock pursuant to an exchange agreement among the Issuer and certain common unit holders of Carvana Group, LLC, dated April 27, 2017 (the "Exchange Agreement").

F2 · price: The Exchange Agreement permits holders of Class B Units to exchange their Class B Units for a number of shares of the Issuer's Class A Common Stock equal to the Class A Common Stock Value less the Adjusted Participation Threshold (as each term is defined in the Exchange Agreement) multiplied by 0.8 times the number of Class B Units being exchanged, divided by the Class A Common Stock Value.

SEC source: 0001209191-21-046595 · doc4.xml · derivative · entry 23

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 50,972,781

Underlying: Class A Common Stock · 60,000 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Reflects the conversion of Class A Common Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") owned directly by Ernest C. Garcia II into shares of Class A Common Stock ("Class A Shares") of the Issuer pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").

F1 · derivative.exercise_date: Reflects the conversion of Class A Common Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") owned directly by Ernest C. Garcia II into shares of Class A Common Stock ("Class A Shares") of the Issuer pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").

F1 · derivative.expiration_date: Reflects the conversion of Class A Common Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") owned directly by Ernest C. Garcia II into shares of Class A Common Stock ("Class A Shares") of the Issuer pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").

SEC source: 0001209191-21-046595 · doc4.xml · nonDerivative · entry 19

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 40,778,225

F6 · price: Reflects the cancellation for no consideration of Class B Common Stock of the Issuer ("Class B Shares") in connection with the conversion of Class A Units into Class A Shares. Following the reported transaction, the remaining Class B Shares are owned directly by Ernest C. Garcia II.

SEC source: 0001209191-21-046595 · doc4.xml · nonDerivative · entry 16

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F2 · kind: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by Ernest C. Garcia II and Elizabeth Joanne Garcia on June 15, 2020, as modified.

F3 · price: Column 4 reflects a weighted average price. Shares sold in multiple transactions at prices ranging from $319.745-$320.675 (weighted average $320.1594); $320.78-$321.765 (weighted average $321.4678); $321.78-$322.765 (weighted average $322.2654); $322.785-$323.77 (weighted average $323.3116); $323.79-$324.78 (weighted average $324.3453); $324.79-$325.78 (weighted average $325.1664); $325.79-$326.70 (weighted average $326.1065); and $326.79-$327.445 (weighted average $327.0753), respectively. Reporting person undertakes to provide issuer, securityholder of issuer or SEC staff, upon request, information regarding number of shares sold at each separate price within ranges set forth herein.

SEC source: 0001209191-21-046595 · doc4.xml · nonDerivative · entry 15

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 800

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Reflects the conversion of Class A Common Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") owned directly by Ernest C. Garcia II into shares of Class A Common Stock ("Class A Shares") of the Issuer pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").

SEC source: 0001209191-21-046595 · doc4.xml · nonDerivative · entry 14

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F2 · kind: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by Ernest C. Garcia II and Elizabeth Joanne Garcia on June 15, 2020, as modified.

F3 · price: Column 4 reflects a weighted average price. Shares sold in multiple transactions at prices ranging from $319.745-$320.675 (weighted average $320.1594); $320.78-$321.765 (weighted average $321.4678); $321.78-$322.765 (weighted average $322.2654); $322.785-$323.77 (weighted average $323.3116); $323.79-$324.78 (weighted average $324.3453); $324.79-$325.78 (weighted average $325.1664); $325.79-$326.70 (weighted average $326.1065); and $326.79-$327.445 (weighted average $327.0753), respectively. Reporting person undertakes to provide issuer, securityholder of issuer or SEC staff, upon request, information regarding number of shares sold at each separate price within ranges set forth herein.

SEC source: 0001209191-21-046595 · doc4.xml · nonDerivative · entry 13

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,680

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Reflects the conversion of Class A Common Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") owned directly by Ernest C. Garcia II into shares of Class A Common Stock ("Class A Shares") of the Issuer pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").

SEC source: 0001209191-21-046595 · doc4.xml · nonDerivative · entry 12

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F2 · kind: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by Ernest C. Garcia II and Elizabeth Joanne Garcia on June 15, 2020, as modified.

F3 · price: Column 4 reflects a weighted average price. Shares sold in multiple transactions at prices ranging from $319.745-$320.675 (weighted average $320.1594); $320.78-$321.765 (weighted average $321.4678); $321.78-$322.765 (weighted average $322.2654); $322.785-$323.77 (weighted average $323.3116); $323.79-$324.78 (weighted average $324.3453); $324.79-$325.78 (weighted average $325.1664); $325.79-$326.70 (weighted average $326.1065); and $326.79-$327.445 (weighted average $327.0753), respectively. Reporting person undertakes to provide issuer, securityholder of issuer or SEC staff, upon request, information regarding number of shares sold at each separate price within ranges set forth herein.

SEC source: 0001209191-21-046595 · doc4.xml · nonDerivative · entry 11

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 11,987

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Reflects the conversion of Class A Common Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") owned directly by Ernest C. Garcia II into shares of Class A Common Stock ("Class A Shares") of the Issuer pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").

SEC source: 0001209191-21-046595 · doc4.xml · nonDerivative · entry 10

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F2 · kind: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by Ernest C. Garcia II and Elizabeth Joanne Garcia on June 15, 2020, as modified.

F3 · price: Column 4 reflects a weighted average price. Shares sold in multiple transactions at prices ranging from $319.745-$320.675 (weighted average $320.1594); $320.78-$321.765 (weighted average $321.4678); $321.78-$322.765 (weighted average $322.2654); $322.785-$323.77 (weighted average $323.3116); $323.79-$324.78 (weighted average $324.3453); $324.79-$325.78 (weighted average $325.1664); $325.79-$326.70 (weighted average $326.1065); and $326.79-$327.445 (weighted average $327.0753), respectively. Reporting person undertakes to provide issuer, securityholder of issuer or SEC staff, upon request, information regarding number of shares sold at each separate price within ranges set forth herein.

SEC source: 0001209191-21-046595 · doc4.xml · nonDerivative · entry 9

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 22,154

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Reflects the conversion of Class A Common Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") owned directly by Ernest C. Garcia II into shares of Class A Common Stock ("Class A Shares") of the Issuer pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").

SEC source: 0001209191-21-046595 · doc4.xml · nonDerivative · entry 8

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F2 · kind: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by Ernest C. Garcia II and Elizabeth Joanne Garcia on June 15, 2020, as modified.

F3 · price: Column 4 reflects a weighted average price. Shares sold in multiple transactions at prices ranging from $319.745-$320.675 (weighted average $320.1594); $320.78-$321.765 (weighted average $321.4678); $321.78-$322.765 (weighted average $322.2654); $322.785-$323.77 (weighted average $323.3116); $323.79-$324.78 (weighted average $324.3453); $324.79-$325.78 (weighted average $325.1664); $325.79-$326.70 (weighted average $326.1065); and $326.79-$327.445 (weighted average $327.0753), respectively. Reporting person undertakes to provide issuer, securityholder of issuer or SEC staff, upon request, information regarding number of shares sold at each separate price within ranges set forth herein.

SEC source: 0001209191-21-046595 · doc4.xml · nonDerivative · entry 7

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 7,297

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Reflects the conversion of Class A Common Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") owned directly by Ernest C. Garcia II into shares of Class A Common Stock ("Class A Shares") of the Issuer pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").

SEC source: 0001209191-21-046595 · doc4.xml · nonDerivative · entry 6

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F2 · kind: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by Ernest C. Garcia II and Elizabeth Joanne Garcia on June 15, 2020, as modified.

F3 · price: Column 4 reflects a weighted average price. Shares sold in multiple transactions at prices ranging from $319.745-$320.675 (weighted average $320.1594); $320.78-$321.765 (weighted average $321.4678); $321.78-$322.765 (weighted average $322.2654); $322.785-$323.77 (weighted average $323.3116); $323.79-$324.78 (weighted average $324.3453); $324.79-$325.78 (weighted average $325.1664); $325.79-$326.70 (weighted average $326.1065); and $326.79-$327.445 (weighted average $327.0753), respectively. Reporting person undertakes to provide issuer, securityholder of issuer or SEC staff, upon request, information regarding number of shares sold at each separate price within ranges set forth herein.

SEC source: 0001209191-21-046595 · doc4.xml · nonDerivative · entry 5

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 7,298

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Reflects the conversion of Class A Common Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") owned directly by Ernest C. Garcia II into shares of Class A Common Stock ("Class A Shares") of the Issuer pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").

SEC source: 0001209191-21-046595 · doc4.xml · nonDerivative · entry 4

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F2 · kind: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by Ernest C. Garcia II and Elizabeth Joanne Garcia on June 15, 2020, as modified.

F3 · price: Column 4 reflects a weighted average price. Shares sold in multiple transactions at prices ranging from $319.745-$320.675 (weighted average $320.1594); $320.78-$321.765 (weighted average $321.4678); $321.78-$322.765 (weighted average $322.2654); $322.785-$323.77 (weighted average $323.3116); $323.79-$324.78 (weighted average $324.3453); $324.79-$325.78 (weighted average $325.1664); $325.79-$326.70 (weighted average $326.1065); and $326.79-$327.445 (weighted average $327.0753), respectively. Reporting person undertakes to provide issuer, securityholder of issuer or SEC staff, upon request, information regarding number of shares sold at each separate price within ranges set forth herein.

SEC source: 0001209191-21-046595 · doc4.xml · nonDerivative · entry 3

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,484

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Reflects the conversion of Class A Common Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") owned directly by Ernest C. Garcia II into shares of Class A Common Stock ("Class A Shares") of the Issuer pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").

SEC source: 0001209191-21-046595 · doc4.xml · nonDerivative · entry 2

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F2 · kind: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by Ernest C. Garcia II and Elizabeth Joanne Garcia on June 15, 2020, as modified.

F3 · price: Column 4 reflects a weighted average price. Shares sold in multiple transactions at prices ranging from $319.745-$320.675 (weighted average $320.1594); $320.78-$321.765 (weighted average $321.4678); $321.78-$322.765 (weighted average $322.2654); $322.785-$323.77 (weighted average $323.3116); $323.79-$324.78 (weighted average $324.3453); $324.79-$325.78 (weighted average $325.1664); $325.79-$326.70 (weighted average $326.1065); and $326.79-$327.445 (weighted average $327.0753), respectively. Reporting person undertakes to provide issuer, securityholder of issuer or SEC staff, upon request, information regarding number of shares sold at each separate price within ranges set forth herein.

SEC source: 0001209191-21-046595 · doc4.xml · nonDerivative · entry 1

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,300

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Reflects the conversion of Class A Common Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") owned directly by Ernest C. Garcia II into shares of Class A Common Stock ("Class A Shares") of the Issuer pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").

SEC source: 0001690820-21-000212 · wf-form4_162621578681248.xml · nonDerivative · entry 2

BREAUX PAUL W. · CIK 0001700545 · See Remarks

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 29,642

F1 · kind: The reported sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 5, 2020. The Reporting Person acquired the Class A Common Stock on July 9, 2021 by exchanging 1,275 Class B common units of Carvana Group, LLC ("Class B Units") for 1,000 shares of Class A Common Stock pursuant to an exchange agreement among the Issuer and certain common unit holders of Carvana Group, LLC, dated April 27, 2017 (the "Exchange Agreement").

F1 · price: The reported sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 5, 2020. The Reporting Person acquired the Class A Common Stock on July 9, 2021 by exchanging 1,275 Class B common units of Carvana Group, LLC ("Class B Units") for 1,000 shares of Class A Common Stock pursuant to an exchange agreement among the Issuer and certain common unit holders of Carvana Group, LLC, dated April 27, 2017 (the "Exchange Agreement").

SEC source: 0001209191-21-046252 · doc4.xml · derivative · entry 15

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 51,047,781

Underlying: Class A Common Stock · 23,277 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Reflects the conversion of Class A Common Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") owned directly by Ernest C. Garcia II into shares of Class A Common Stock ("Class A Shares") of the Issuer pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").

F1 · derivative.exercise_date: Reflects the conversion of Class A Common Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") owned directly by Ernest C. Garcia II into shares of Class A Common Stock ("Class A Shares") of the Issuer pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").

F1 · derivative.expiration_date: Reflects the conversion of Class A Common Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") owned directly by Ernest C. Garcia II into shares of Class A Common Stock ("Class A Shares") of the Issuer pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").

SEC source: 0001209191-21-046252 · doc4.xml · nonDerivative · entry 11

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 40,838,225

F6 · price: Reflects the cancellation for no consideration of Class B Common Stock of the Issuer ("Class B Shares") in connection with the conversion of Class A Units into Class A Shares. Following the reported transaction, the remaining Class B Shares are owned directly by Ernest C. Garcia II.

SEC source: 0001209191-21-046252 · doc4.xml · nonDerivative · entry 8

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F2 · kind: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by Ernest C. Garcia II and Elizabeth Joanne Garcia on June 15, 2020, as modified.

F3 · price: Column 4 reflects a weighted average price. Shares sold in multiple transactions at prices ranging from $319.00-$319.99 (weighted average $319.529); $320.00-$320.98 (weighted average $320.4511); $321.01-$321.84 (weighted average $321.2878); and $322.05-$322.19 (weighted average $322.12), respectively. Reporting person undertakes to provide issuer, securityholder of issuer or SEC staff, upon request, information regarding number of shares sold at each separate price within ranges set forth herein.

SEC source: 0001209191-21-046252 · doc4.xml · nonDerivative · entry 7

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 400

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Reflects the conversion of Class A Common Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") owned directly by Ernest C. Garcia II into shares of Class A Common Stock ("Class A Shares") of the Issuer pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").

SEC source: 0001209191-21-046252 · doc4.xml · nonDerivative · entry 6

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F2 · kind: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by Ernest C. Garcia II and Elizabeth Joanne Garcia on June 15, 2020, as modified.

F3 · price: Column 4 reflects a weighted average price. Shares sold in multiple transactions at prices ranging from $319.00-$319.99 (weighted average $319.529); $320.00-$320.98 (weighted average $320.4511); $321.01-$321.84 (weighted average $321.2878); and $322.05-$322.19 (weighted average $322.12), respectively. Reporting person undertakes to provide issuer, securityholder of issuer or SEC staff, upon request, information regarding number of shares sold at each separate price within ranges set forth herein.

SEC source: 0001209191-21-046252 · doc4.xml · nonDerivative · entry 5

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,636

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Reflects the conversion of Class A Common Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") owned directly by Ernest C. Garcia II into shares of Class A Common Stock ("Class A Shares") of the Issuer pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").

SEC source: 0001209191-21-046252 · doc4.xml · nonDerivative · entry 4

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F2 · kind: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by Ernest C. Garcia II and Elizabeth Joanne Garcia on June 15, 2020, as modified.

F3 · price: Column 4 reflects a weighted average price. Shares sold in multiple transactions at prices ranging from $319.00-$319.99 (weighted average $319.529); $320.00-$320.98 (weighted average $320.4511); $321.01-$321.84 (weighted average $321.2878); and $322.05-$322.19 (weighted average $322.12), respectively. Reporting person undertakes to provide issuer, securityholder of issuer or SEC staff, upon request, information regarding number of shares sold at each separate price within ranges set forth herein.

SEC source: 0001209191-21-046252 · doc4.xml · nonDerivative · entry 3

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 11,142

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Reflects the conversion of Class A Common Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") owned directly by Ernest C. Garcia II into shares of Class A Common Stock ("Class A Shares") of the Issuer pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").

SEC source: 0001209191-21-046252 · doc4.xml · nonDerivative · entry 2

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F2 · kind: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by Ernest C. Garcia II and Elizabeth Joanne Garcia on June 15, 2020, as modified.

F3 · price: Column 4 reflects a weighted average price. Shares sold in multiple transactions at prices ranging from $319.00-$319.99 (weighted average $319.529); $320.00-$320.98 (weighted average $320.4511); $321.01-$321.84 (weighted average $321.2878); and $322.05-$322.19 (weighted average $322.12), respectively. Reporting person undertakes to provide issuer, securityholder of issuer or SEC staff, upon request, information regarding number of shares sold at each separate price within ranges set forth herein.

SEC source: 0001209191-21-046252 · doc4.xml · nonDerivative · entry 1

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 9,099

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Reflects the conversion of Class A Common Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") owned directly by Ernest C. Garcia II into shares of Class A Common Stock ("Class A Shares") of the Issuer pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").

SEC source: 0001209191-21-046247 · doc4.xml · derivative · entry 25

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 51,076,877

Underlying: Class A Common Stock · 36,723 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Reflects the conversion of Class A Common Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") owned directly by Ernest C. Garcia II into shares of Class A Common Stock ("Class A Shares") of the Issuer pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").

F1 · derivative.exercise_date: Reflects the conversion of Class A Common Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") owned directly by Ernest C. Garcia II into shares of Class A Common Stock ("Class A Shares") of the Issuer pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").

F1 · derivative.expiration_date: Reflects the conversion of Class A Common Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") owned directly by Ernest C. Garcia II into shares of Class A Common Stock ("Class A Shares") of the Issuer pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").

SEC source: 0001209191-21-046247 · doc4.xml · nonDerivative · entry 21

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 40,861,502

F6 · price: Reflects the cancellation for no consideration of Class B Common Stock of the Issuer ("Class B Shares") in connection with the conversion of Class A Units into Class A Shares. Following the reported transaction, the remaining Class B Shares are owned directly by Ernest C. Garcia II.

SEC source: 0001209191-21-046247 · doc4.xml · nonDerivative · entry 18

GARCIA ERNEST C. II · CIK 0001017608 · 10% owner

VERDE INVESTMENTS, INC. · CIK 0001704727 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F2 · kind: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by Ernest C. Garcia II and Elizabeth Joanne Garcia on June 15, 2020, as modified.

F3 · price: Column 4 reflects a weighted average price. Shares sold in multiple transactions at prices ranging from $309.53-$310.51 (weighted average $310.1514); $310.545-$311.355 (weighted average $310.9709); $311.62-$312.28 (weighted average $311.8622); $312.65-$313.53 (weighted average $313.03); $313.80-$314.755 (weighted average $314.4082); $314.85-$315.84 (weighted average $315.3679); $315.88-$316.85 (weighted average $316.3623); $316.89-$317.86 (weighted average $317.4542); and $318.00-$318.99 (weighted average $318.504), respectively. Reporting person undertakes to provide issuer, securityholder of issuer or SEC staff, upon request, information regarding number of shares sold at each separate price within ranges set forth herein.