Starboard Delivers Letter to Cars.com Board of Directors

NEW YORK, Dec. 10, 2018 /PRNewswire/ -- Starboard Value LP (together with its affiliates, "Starboard"), one of the largest shareholders of Cars.com Inc. (NYSE: CARS) ("CARS" or, the "Company") today announced that it has delivered a letter to Scott Forbes, Chairman of the Company's Board of Directors (the "Board"), and to CEO Alex Vetter, with copies to the Board.

The full text of Starboard's letter to the Chairman of the Board can be viewed at the following link:

http://www.starboardvalue.com/wp-content/uploads/Starboard_Value_LP_Letter_to_CARS_CEO_and_Board_12.10.2018.pdf

About Starboard Value LP
Starboard Value LP is a New York-based investment adviser with a focused and differentiated fundamental approach to investing primarily in publicly traded U.S. companies. Starboard invests in deeply undervalued companies and actively engages with management teams and boards of directors to identify and execute on opportunities to unlock value for the benefit of all shareholders.

Investor contacts:
Peter Feld, (212) 201-4878
Tom Cusack, (212) 201-4814
www.starboardvalue.com

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SOURCE Starboard Value LP