13G Filing: Park West Asset Management and Carvana Co (CVNA)

* Beneficial
ownership percentage is based upon 15,033,891 shares
of Class A common stock, $0.001 par value per share (“Common Stock”), of Carvana Co., a Delaware company (the “Company”),
issued and outstanding as of May 31, 2017, based on information reported by the Company in its quarterly report on Form 10-Q,
filed with the Securities and Exchange Commission on June 6, 2017. Park West Asset Management LLC (“PWAM”) is the
investment manager to Park West Investors Master Fund, Limited, a Cayman Islands exempted company (“PWIMF”), and Park
West Partners International, Limited, a Cayman Islands exempted company (“PWPI” and, collectively with PWIMF, the
“PW Funds”), and Peter S. Park (“Mr. Park” and, collectively with PWAM, the “Reporting Persons”)
is the sole member and manager of PWAM. As of June 7, 2017, PWIMF held 736,631 shares of Common Stock and PWPI held 94,401 shares
of Common Stock of the Company. As a result of the foregoing, for purposes of Reg. Section 240.13d-3, the Reporting Persons may
be deemed to beneficially own the 831,032 shares of Common Stock held in the aggregate by the PW Funds, or approximately 5.5%
of the shares of Common Stock deemed issued and outstanding as of June 7, 2017.