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

4020 E. Indian School Road

Phoenix, AZ 85018

This report on Schedule 13G (this “Schedule 13G”), is being jointly filed by (i) Park West Asset Management LLC (“PWAM”), a Delaware limited
liability company and the investment manager to (a) Park West Investors Master Fund, Limited (“PWIMF”), a Cayman Islands
exempted company that is the holder of 736,631 shares of Class A common stock, $0.001 par value per share (“Common Stock”)
of the Company reported on this Schedule 13G, and (b) Park West Partners International, Limited (“PWPI” and, collectively
with PWIMF, the “PW Funds”), a Cayman Islands exempted company that is the holder of 94,401 shares of Common Stock
reported on this Schedule 13G; and (ii) Peter S. Park, as the sole member and manager of PWAM (“Mr. Park” and, collectively
with PWAM, the “Reporting Persons”).

The 831,032 shares of Common Stock held in the aggregate by the PW Funds, which constitute approximately 5.5%
of the shares of Common Stock deemed issued and outstanding as of June 7, 2017, may be deemed to be beneficially owned (x) indirectly
by PWAM, as the investment adviser to PWIMF and PWPI, and (y) indirectly by Mr. Park, as the sole member and manager of PWAM.

The address for the Reporting
Persons is: 900 Larkspur Landing Circle, Suite 165, Larkspur, California 94939.

PWAM is organized under
the laws of the State of Delaware. Mr. Park is a citizen of the United States.