Offer to Purchase for Cash
by
COPART, INC.
of
Up to 10,526,315 Shares of its Common Stock
(Including the Associated Preferred Stock Rights)
at a Purchase Price of $38.00 Per
Share
THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL
EXPIRE
AT 5:00 P.M., NEW YORK CITY TIME, ON FRIDAY, JANUARY 14, 2011,
UNLESS THE OFFER IS EXTENDED.
December 15, 2010
To Brokers, Dealers, Commercial Banks,
Trust Companies
and Other Nominees:
We have been appointed by Copart,
Inc., a California corporation (the Company), to act as Information Agent in connection with its offer to purchase for cash up to 10,526,315
shares of its common stock, no par value, at a purchase price of $38.00 per share, without interest and less any applicable withholding tax, upon
the terms and subject to the conditions set forth in the Offer to Purchase dated December 15, 2010 (the Offer to Purchase) and the related
Letter of Transmittal (which, together with any supplements or amendments thereto, collectively constitute the Offer). Please furnish
copies of the enclosed materials to those of your clients for whom you hold shares registered in your name or in the name of your
nominee.
Unless the context otherwise
requires, all references to the shares shall refer to the common stock of the Company and shall include the associated preferred stock rights issued
pursuant to the Preferred Stock Rights Agreement, dated as of March 6, 2003, between the Company and Computershare Trust Company, N.A., as successor to
Equiserve Trust Company, N.A., as amended; and unless the associated rights are redeemed prior to the expiration of the Offer, a tender of the shares
will also constitute a tender of the associated rights. No additional consideration will be paid for the associated rights.
Enclosed with this letter are
copies of the following documents:
1. |
|
Offer to Purchase dated December 15, 2010; |
2. |
|
Letter of Transmittal, for your use in accepting the Offer and
tendering shares of and for the information of your clients; |
3. |
|
A form of letter that may be sent to your clients for whose
account you hold shares registered in your name or in the name of a nominee, with an Instruction Form provided for obtaining such clients
instructions with regard to the Offer; |
4. |
|
Notice of Guaranteed Delivery with respect to shares, to be used
to accept the Offer in the event you are unable to deliver the share certificates, together with all other required documents, to the Depositary before
the Expiration Time (as defined in the Offer to Purchase), or if the procedure for book-entry transfer cannot be completed before the Expiration Time; |
5. |
|
Guidelines for Certification of Taxpayer Identification Number
on Substitute Form W-9; and |
6. |
|
Return envelope addressed to Computershare Trust Company, N.A.
as the Depositary. |
Certain conditions to the
Offer are described in Section 7 of the Offer to Purchase.
We urge you to contact your
clients as promptly as possible. Please note that the Offer, proration period and withdrawal rights will expire at 5:00 p.m., New York City time, on
Friday, January 14, 2011, unless the Offer is extended.
Under no circumstances will
interest be paid on the purchase price of the shares regardless of any extension of, or amendment to, the Offer or any delay in paying for such
shares.
The Company will not pay any fees
or commissions to any broker or dealer or other person (other than the Information Agent and the Depositary, as described in the Offer to Purchase) in
connection with the solicitation of tenders of shares pursuant to the Offer. However, the Company will, on request, reimburse you for customary mailing
and handling expenses incurred by you in forwarding copies of the enclosed Offer materials to your clients. The Company will pay or cause to be paid
any stock transfer taxes applicable to its purchase of shares pursuant to the Offer, except as otherwise provided in the Offer to Purchase and Letter
of Transmittal (see Instruction 6 of the Letter of Transmittal).
Questions and requests for
additional copies of the enclosed material may be directed to us at our address and telephone number set forth on the back cover of the Offer to
Purchase.
Very truly yours,
Georgeson Inc.
Nothing contained in this letter or in the enclosed documents shall render you or any other person the agent of the Company, the
Depositary, the Information Agent or any affiliate of any of them or authorize you or any other person to give any information or use any document or
make any statement on behalf of any of them with respect to the Offer other than the enclosed documents and the statements contained
therein.