CopartCPRT

01International service revenues grew $24.4 million in Q3 and $43.8 million year-to-date, driven primarily by increases in volume and revenue per car The Company operates facilities in the U.K., Canada, Germany, Spain, Brazil, U.A.E., Bahrain, Oman, Finland, Republic of Ireland, and India International sellers are switching to a consignment model from principal sales

02Opening new facilities is contingent upon locating property with appropriate zoning, size, shape, topography, and proximity to major roads In fiscal 2023-2025, Copart opened 21 new operational facilities across the U.S., U.K., Canada, Germany, Spain, and Brazil Facility operations depreciation increased due to new and expanded facilities placed into service in the U.S. and International Failure to have sufficient capacity could adversely affect relationships with insurance companies or other sellers

03A limited number of vehicle sellers historically have collectively accounted for a substantial portion of revenues No single customer accounted for more than 10% of consolidated revenues during the nine months ended April 30, 2026 Vehicle sellers have terminated agreements with Copart in the past in particular markets

04Copart's balance sheet—$3.4 billion cash plus an undrawn revolver—funds aggressive buybacks and opportunistic land/M&A without issuing equity, compounding per-share value while preserving flexibility for capacity expansion.