Mr. Todd Hudson reports

AXIS INITIATES A STRATEGIC REVIEW

Axis Auto Finance Inc. has initiated a review of strategic alternatives to maximize shareholder value and, in connection therewith, has formed a special committee of independent directors to oversee this process.

In response to incoming expressions of interest, Axis, through the special committee, will evaluate a range of alternatives to determine the best path forward to maximize value for shareholders. Alternatives may include the sale of certain assets or a potential sale or merger of the company, as well as other strategic options.

The board has not set a timetable to complete the strategic review process, nor have any decisions been made relating to strategic alternatives at this time. There can be no assurance that the strategic review and the preliminary non-binding discussions will result in any binding offer or any other transaction, or of the pricing of any such possible transaction. Axis will provide updates when further information becomes available.

About Axis Auto Finance Inc.

Axis is a financial technology lender providing alternative used-vehicle financing options to non-prime borrowers. Axis loans are offered through over 3,000 automotive dealers nationwide. Approximately 30 per cent of Canadians have credit scores in the non-prime range. All Axis auto loans report to the credit bureau, resulting in over 70 per cent of customers seeing a significant improvement of their credit scores.

We seek Safe Harbor.