On October 22, 2018, the Board of Directors of Speedway Motorsports, Inc. appointed B. Scott Smith (Mr. Scott Smith) as a new member of the Board effective immediately. Mr. Scott Smith will fill a vacancy on the Board and his term will expire at the 2021 annual meeting of stockholders. Mr. Scott Smith will not immediately join a committee of the Board. Mr. Scott Smith is Co-Founder of Sonic Automotive, Inc. (“SAI”) and has over 28 years of experience in the automobile dealership industry. He served as the Chief Executive Officer, President and a director of SAI between July 2015 and September 2018. Prior to his appointment as Chief Executive Officer of SAI in July 2015, he served as President and Chief Strategic Officer of SAI since March 2007. Prior to that, Mr. Scott Smith served as SAI’s Vice Chairman and Chief Strategic Officer from October 2002 to March 2007 and President and Chief Operating Officer from April 1997 to October 2002.