ACV – Copart Transaction Employee Letter (Form SC14D9C)

ACV - Copart Transaction Employee Letter

To: All Employees

From: ACV CEO

Subject: ACV to Combine with Copart

Team ACV,

I'm pleased to share that we have agreed to be acquired by Copart. This is an exciting step in our mission to build the most trusted, transparent, and efficient digital marketplace and data solutions for the automotive industry and will enable us to reach even greater heights.

When I first invested in ACV, well before it was a publicly traded company, I knew the company had the potential to transform our industry. Since then, we have successfully scaled our business with geographic and global expansion, new products, and new revenue streams to help our dealers and commercial partners solve the challenges that they have faced for generations.

We are proud of how far we've come. We also recognize there is more work to do to capture the significant opportunity in front of us. Copart's scale and resources will enable us to do so.

With Copart, we will be part of a company which today has 11,600 full- and part-time employees and a global footprint spanning more than 250 locations across 11 countries. Together, we will be able to offer an expanded suite of end-to-end services and solutions, including inventory management, pickup and towing, storage, yard operations, title processing, sale administration and payment/remittance, transportation, and shipping support and services for domestic and international buyers, among many others. Copart's substantial financial resources will enable us to accelerate the development and launch of new and existing key technology initiatives, including VIPER, ClearCar and ACV MAX, which we know are critical to our customers' success.

Copart is acquiring ACV because they recognize the power of our platform and technology and believe it can fuel Copart's growth momentum. By combining our technology capabilities and innovation engine with Copart's marketplace infrastructure, we will create a leader in the businesses in which each company competes. Copart knows that our team is the bedrock of our success, and like us, they are committed to providing employees with tools and support to succeed.

Importantly, today's announcement is only the first step in the process. We expect the transaction to close by the end of calendar year 2026, subject to a majority of ACV's shares being tendered into the offer associated with this agreement and customary regulatory approvals and closing conditions. Until then, ACV and Copart will remain separate companies and continue to operate independently. I ask that you stay focused on the important work in front of us and continue delivering for our dealers and commercial partners.

We will host a Company Call tomorrow at 11 AM EDT to discuss the acquisition. You should expect to receive an invite shortly. In the meantime, we have attached FAQs to address questions that may be top of mind.

I want to thank every member of the ACV team. Today's announcement would not have been possible without your hard work, creativity and belief in our mission. I'm incredibly confident in the path ahead and am excited for our future.

Best,

George