August 11, 2020

CarParts.com Announces Commencement of Public Offering of Common Stock

TORRANCE, Calif., Aug. 11, 2020 /PRNewswire/ — CarParts.com, Inc. (NASDAQ: PRTS) (“CarParts.com”), one of the leading e-commerce providers of automotive parts…

TORRANCE, Calif., Aug. 11, 2020 /PRNewswire/ — CarParts.com, Inc. (NASDAQ: PRTS) (“CarParts.com”), one of the leading e-commerce providers of automotive parts and accessories, today announced that it intends to offer three million shares of its common stock for sale in an underwritten public offering. A selling shareholder of the CarParts.com also intends to offer two million shares of common stock for sale in the offering. In connection with this offering, CarParts.com expects to grant the underwriters a 30-day option to purchase up to 750,000 additional shares of common stock at the public offering price, less underwriting discounts and commissions. CarParts.com will not receive any proceeds from the sale of shares by the selling shareholder. CarParts.com intends to use its net proceeds of the offering for general corporate purposes, including working capital.

RBC Capital Markets is acting as the sole book-runner, and Craig-Hallum Capital Group is acting as the sole lead manager for the offering. D.A. Davidson & Co. and Roth Capital Partners are acting as co-managers for the offering.

This offering is being made pursuant to an effective shelf registration statement on Form S-3 (No. 333-240467) and preliminary prospectus supplement filed with the U.S. Securities and Exchange Commission (the “SEC”). The preliminary prospectus supplement relating to the offering will be available on the SEC’s website located at http://www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus, when available, may also be obtained from RBC Capital Markets, LLC, Attention: Equity Capital Markets, 200 Vesey Street, New York, New York 10281-8098, or by fax at (212) 428-6260; or from Craig-Hallum Capital Group at 222 South Ninth Street, Suite 350, Minneapolis, Minnesota 55402, Attention: Equity Capital Markets, by telephone at 612-334-6300, or by email prospectus@chlm.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities being offered, nor shall there be any sale of the securities being offered in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About CarParts.com

For over 20 years, CarParts.com has been a leader in the e-commerce automotive aftermarket, providing collision, engine, and performance parts and accessories. With over 50 million parts delivered, we’ve helped everyday drivers across the contiguous United States find the right parts to keep their vehicles on the road.

With a focus on the end-to-end customer experience, we’ve designed our website and sourcing network to simplify the way drivers get the parts they need. Our vehicle selector and easy-to-navigate, mobile-friendly website offer customers guaranteed fitment and a convenient online shopping experience. And with our own wide distribution network, we bring the very best brands and manufacturers directly to consumer hands, cutting out all the brick-and-mortar supply chain costs to provide quality parts at a discount for our loyal customers. Combined with our 90-day return policy and satisfaction guarantee, CarParts.com makes it simple for customers to get parts delivered straight to their door. CarParts.com is headquartered in Torrance, California.

Forward-Looking Statement

This press release contains statements which are forward looking statements for the purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended and Section 27A of the Securities Act of 1933, as amended. Words such as “anticipates,” “could,” “expects,” “intends,” “plans,” “potential,” “believes,” “predicts,” “projects,” “seeks,” “estimates,” “may,” “will,” “would,” “will likely continue” and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, the proposed offering of shares of common stock.. We undertake no obligation to revise or update publicly any forward-looking statements for any reason, except as required by law. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Therefore, our actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors. Important factors that may cause such a difference include, but are not limited to, market risks and uncertainties, the satisfaction of customary closing conditions for an offering of securities, and any other factors discussed in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including the Risk Factors contained in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which are available at www.carparts.com/investor and the SEC’s website at www.sec.gov. You are urged to consider these factors carefully in evaluating the forward-looking statements in this release and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. Unless otherwise required by law, the Company expressly disclaims any obligation to update publicly any forward-looking statements, whether as result of new information, future events or otherwise, except as required by law.

Investor Relations:

Sean Mansouri, CFA or Cody Slach

Gateway Investor Relations

949-574-3860

PRTS@gatewayir.com

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SOURCE CarParts.com, Inc.