Mr. Tim Harvie reports

TRACKX BEGINS PHASE II OF VEHICLE MANAGEMENT SOLUTION FOR CARVANA, EXPANDED CAPABILITIES INCLUDE TRACKING OF CARVANA'S VEHICLE REPAIR AND MAINTENANCE

TrackX Holdings Inc. has completed phase 1 of its national rollout with Carvana, a leading e-commerce platform for buying used cars. Carvana uses advanced, proprietary technology to deliver a complete and seamless on-line car buying experience. By visiting the Carvana website on a mobile phone, tablet or computer, customers can search for, buy, finance and sell a car, all from their desktop or mobile device. The first phase of the solution manages vehicle location and inventory of tens of thousands of vehicles at Carvana's current 37 U.S. locations. During phase 2, the TrackX solution will further increase efficiencies by providing detailed analytics and workflows through the inspection, repair and maintenance processes.

"TrackX will help us achieve real-time visibility to the inspection, repair, certification and distribution of vehicles through our innovative and industry-leading on-line used-car retail process," said Ernie Garcia, founder and chief executive officer of Carvana. "The improved visibility, processing efficiencies and business analytics offered by the TrackX vehicle inventory and processing solution, supports Carvana's unparalleled commitment to deliver the highest-quality vehicle to our customers faster than any other company in the on-line used-car retail space."

All vehicles acquired by Carvana are put through mechanical and maintenance inspections, any necessary repairs, and finally, a sophisticated media centre to prepare the vehicle for presentation on Carvana's retail website. The implementations will continue as Carvana expands nationwide to more than 40 locations.

"Carvana places significant importance on efficient, transparent service in the delivery of high-quality vehicles to its customers," said Tim Harvie, chief executive officer of TrackX. "Therefore, Carvana leverages substantial human capital and technological assets to manage each vehicle's location, status, repair and delivery. TrackX shares the commitment to customer satisfaction and ease of doing business, and we are proud to be the solution provider to help Carvana further achieve its vision."

About TrackX Holdings Inc.

TrackX, based in Denver, Colo., is an enterprise industrial Internet of things (IIoT) software platform provider leveraging multiple auto-ID technologies for the comprehensive management of physical assets. TrackX's global asset management for the enterprise (GAME) enables the IIoT by providing unique item-level tracking, workflow processing, event management, alerts and powerful analytics to deliver solutions across a growing number of industries. This platform creates unprecedented visibility and business intelligence of man-to-machine and machine-to-machine interaction. TrackX delivers significant value to a growing list of Fortune 500 companies and for customers in industries such as transportation, beverage, brewery, health care, high-tech, hospitality, mining, agriculture, horticulture, manufacturing and government.

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