AMERICAS CARMART INC

Management, with the participation of the Company’s Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of the Company’s disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), as of July 31, 2024. Based on that evaluation, the Company’s Chief Executive Officer and Chief Financial Officer have concluded that the Company’s disclosure controls and procedures were effective as of July 31, 2024. The Company’s disclosure controls and procedures are designed to ensure that information required to be disclosed by the Company in the reports it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC rules and forms, and that such information is accumulated and communicated to management, including the Company’s Chief Executive Officer (principal executive officer) and Chief Financial Officer (principal financial officer), to allow timely decisions regarding required disclosure.

There were improvements to the Company’s internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the three months ended July 31, 2024, that have positively impacted, the Company’s internal control over financial reporting.

During the first quarter of fiscal year 2025, the Company commenced the implementation of a new core accounting platform, which included changes to the Company’s general ledger, accounts payable, and fixed assets accounting processes. Management continues to review and enhance the design and documentation of the Company’s internal control over financial reporting. To date, the implementation, integration, and transition have not materially affected the Company’s internal control over financial reporting. As each phase of the implementation occurs, management will reassess the Company’s processes and procedures, which may result in changes to the Company’s internal control over financial reporting. There have been no other changes in the Company’s internal control over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act) that occurred during the three month period ending July 31, 2024 that have materially affected, or are reasonably likely to materially affect the Company’s internal control over financial reporting.