On March 4, 2022, Advance Auto Parts, Inc. completed its previously announced offering of $350,000,000 aggregate principal amount of its 3.500% Notes due March 15, 2032. The terms of the Notes are governed by an indenture, dated as of April 29, 2010, among the Company, the guarantors from time to time party thereto and Computershare Trust Company, N.A., as successor to Wells Fargo Bank, National Association, as Trustee, as supplemented by the Ninth Supplemental Indenture, dated as of March 4, 2022, among the company, Advance Stores Company, Incorporated and the Trustee, for the benefit of the holders of each Note. The Notes have been registered under the Securities Act of 1933, as amended, pursuant to a registration statement filed on September 22, 2020 on Form S-3, File No.

333-248963. The Notes bear interest at the applicable rate per annum in the description of the Notes, payable semi-annually in arrears on March 15 and September 15 of each year, commencing on September 15, 2022. The Notes are unsecured and unsubordinated obligations of the Company and rank equally in right of payment with all of the Company's other unsecured and unsubordinated debt.

The Notes are guaranteed on a full and unconditional senior unsecured basis initially by the Guarantor, which is a wholly owned subsidiary of the Company. The Indenture provides, among other things, that the Notes may be redeemed in whole or in part at any time and from time to time prior to December 15, 2031 at the Company's option, at a redemption price equal to the greater of: the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the redemption date on a semi-annual basis at the Treasury Rate plus 30 basis points less, interest accrued to the date of redemption; and 100% of the principal amount of the Notes to be redeemed; plus, in either case, accrued and unpaid interest thereon to, but excluding, the redemption date. On or after the Par Call Date, the Company may redeem the Notes, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the Notes being redeemed plus accrued and unpaid interest thereon to, but excluding, the redemption date.

In addition, in the event of a change of control triggering event, the Company will be required to offer to repurchase the Notes at a price equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to the repurchase date.