CarMax (KMX) 8-K Robert W. Baird & Co.’s 2009 Growth Stock Conference

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Robert W. Baird & Co.’s 2009 Growth Stock Conference

May 13, 2009

Tom Folliard

President & Chief Executive Officer

Exhibit 99.1

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Forward-Looking Statements

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 and estimates is contained

in the CarMax, Inc. SEC filings.  The Company

disclaims any intent or obligation to update its

forward-looking statements.

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Largest Used Car Retailer in the U.S.

CarMax currently has:

100 used car superstores

46 markets

In FYE 02/28/09 CarMax sold:

345,465 used vehicles

194,081 wholesale vehicles

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Unmatched Consumer Offer

Competitively low, no-haggle prices

Huge selection

Guaranteed quality

Customer-friendly sales processes

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Unique Culture

Founded on the principle of integrity

Well-trained, engaged associates

Culture recognized in wide variety of

awards

Fortune’s “100 Best Companies to Work For”

5 consecutive years

2008 International Torch Award for

Marketplace Excellence by the Council of

Better Business Bureaus

2009 Training Magazine “Top 125”

Diversified

Profit

Base

(FYE

2/28/09)

Percentages represent breakdown of gross profit dollars, including CAF income

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What Happened in FY 2009

Difficult economic conditions led to

significant drop in customer traffic

Substantial increase in gas prices drove

temporary shift in demand

Significant wholesale price depreciation

throughout the fiscal year, followed by

sharp increase at fiscal year end

Credit crunch caused ABS market to freeze

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What Happened to CarMax

Record drop in used unit sales

Significantly increased CAF costs

Unable to access the ABS market after

July securitization

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How CarMax Responded

Suspended store growth

Reduced variable expenses

Managed inventory to level of sales

Slowed warehouse utilization

Completed a TALF-eligible securitization

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$182.0 mm

$ 59.2 mm

Net earnings

$2,731

$2,715

Gross profit / unit

$8.20 bn

$6.97 bn

Revenue

3%

(16)%

Used unit comps

FY2008

FY2009

Comparable Fiscal Year Results

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Our Future Opportunity

Competitive advantages

Proprietary processes and systems

Volume

Flexibility

Long-term growth potential

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Finance

Originations

Purchasing/

Inventory

Management

Reconditioning

Consumer

Offer

Competitive Advantages

Well-tested Proprietary Processes & Systems

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Two-Year Wholesale Price Changes

(Source: NADA Auctions –

Reported by ADESA Inc)

The analysis is based on nearly seven million annual sales transactions from over 170 of the largest U.S. wholesale auto

auctions, including those of ADESA as well as other auction companies.

-1200

-1000

-800

-600

-400

-200

0

200

400

600

2000-2007 (2 Yr Ranges)

2008-2009

Q3 FY09

Q4 FY09

-$90

-$860

-$160

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Competitive Advantages

Volume

Sell more used cars

Monthly used unit sales/store

CarMax = 335 (FY09)

Public new car dealers = 46 (CY08)

24,000 used vehicle inventory

Customer transfers represent over 25% of sales

carmax.com and marketing efficiencies

70% of customers visit website first

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Competitive Advantages

Flexibility

Adaptable to changed market conditions

Ability to rapidly manage inventory and expenses

Cost reduction opportunities

SG&A

Reconditioning initiatives

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Our Future Opportunity

Long-term growth potential

Stores cover only 45% of population

#1 seller of used cars, but only 2% market share

for late model vehicles

First or second purchase cycle in most markets

Competitive advantages

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