ACV Auctions enters $50M accelerated share repurchase with Citibank; initial ~70% delivery

ACV Auctions Inc.

• On May 12, 2026, ACV Auctions entered an ASR agreement with Citibank for $50M share repurchase.
• Company will pay $50M on May 13, 2026; expects initial delivery of approximately 70% of underlying shares.
• Final repurchased shares based on VWAP over the term less a discount, subject to adjustments.
• Completion expected no later than Q4 2026 under previously announced buyback program.
• Agreement includes standard representations, early termination conditions, and calculation agent provisions.

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