The discussion should be read in conjunction with the consolidated financial statements and notes to be contained in our Annual Report on Form 10-K. CarLotz is a used vehicle consignment and Retail Remarketing business that provides our corporate vehicle sourcing partners and retail sellers of used vehicles with the ability to access the previously unavailable retail sales channel while simultaneously providing buyers with prices that are, on average, below those of traditional dealerships. Non-operating expenses primarily represent floor plan interest incurred on borrowings to finance the acquisition of used vehicle inventory under the Companys $12million revolving floor plan facility with Automotive Finance Corporation. As we further develop the CarLotz brand, we believe our enhanced platform will support increased revenue from product sales and optimized vehicle pricing. Cost of vehicle inventory is determined on a specific identification basis. SG&A expenses decreased by $0.7million, or (4.1)%, to $17.6million during 2020, from $18.3million in 2019. However, pursuant to Section404 and the related rules adopted by the SEC, we, as a public company, will be required to maintain adequate internal control over financial reporting and include our managements assessment of the effectiveness of our companys internal control over financial reporting in our annual report. All returns must be postmarked within thirty-one (31) days of the purchase date. JW Marriott Desert Springs, Palm Springs, CA. We offer our retail customers a hassle-free vehicle buying experience at prices generally lower than our competitors. When expanded it provides a list of search options that will switch the search inputs to match the current selection. Sales (434) 201-7457. At 10-year mark, CarLotz goes public - Virginia Business Our regional hubs allow for test drives and on-site purchase, which we plan to expand to nationwide coverage. CarLotz to close 11 hubs, scraps plans for 3 new locations In fact, the company says its sellers typically see a $2,000-$5,000 benefit from using their services. Tim Ryan on LinkedIn: #eatlocaleatoften #farmtotable #benekeith #markon We're on a mission to create the world's greatest vehicle buying and selling experience so you get more car for your. Over the next twoyears, we plan to invest significantly in our core suite of technology to enhance the buyer and seller experience, improve our B2B vehicle sourcing and enhance our business intelligence capabilities with increased machine learning and artificial intelligence. For individuals who are our retail sellers, we offer a hassle-free selling experience while allowing them to generate on average up to $1,000 or more for their vehicle, net of all fees and expenses, than when utilizing the alternative wholesale sales channel and stay fully informed by tracking the sale process through our easy to navigate online portal. Get started by downloading the CarLotz app now to find your next ride! The company was founded by Michael W. Bor in 2011 and is headquartered in Richmond, VA. Return Process In March2020, the World Health Organization declared the outbreak and spread of the COVID-19 virus a pandemic. Our return policy allows customers to initiate a return during the first three days or 500 miles after delivery, whichever comes first.

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