• Root entered a warrant exchange with Carvana on Aug. 31, 2026, cancelling 2021 long-term warrants and issuing a new warrant.
• New warrant issuance was treated as an unregistered sale exempt under Securities Act Section 4(a)(2); Carvana represented it is an accredited investor.
• Full cash exercise would allow Carvana to buy up to 1,525,560 shares of Class A common stock, split into five tranches.
• Exercise depends on specified conditions, including milestones tied to insurance sales through the integrated platform.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Root Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001788882-26-000068), on September 01, 2026, and is solely responsible for the information contained therein.