Mr. Todd Hudson reports

AXIS APPOINTS JIM NIKOPOULOS TO THE BOARD

Axis Auto Finance Inc. has appointed Jim Nikopoulos to the board of directors. Mr. Nikopoulos will replace Gerry Thom who has retired from the board.

Mr. Nikopoulos is an entrepreneur and business executive focused on the finance, technology, consumer and health care sectors. Mr. Nikopoulos is the founder and chief executive officer of MJ Holdings Corp., an investment company that has made numerous investments in early-stage companies across various industries. He was the founder and CEO of Core Data Centers Inc., a data centre and connectivity services company, prior to a sales exit transaction.

Mr. Nikopoulos was previously the president of ECN Capital Corp. (TSX: ECN), a leading provider of prime consumer credit portfolios to more than 100 United States financial institutions. Mr. Nikopoulos co-led the transformation of ECN from a tradition finance company to an asset manager with over $31-billion of assets.

"We are very pleased to welcome Jim to our board of directors. His Canadian capital markets and director experience make him an excellent addition to our board," said Todd Hudson, chief executive officer of Axis. "This is an exciting time in our company's development as we enter the next stage of growth driven by technology innovation. With Gerry Thom retiring, we wanted to bolster the strategy, corporate finance, M&A, governance and compliance experience on our board, and Jim brings all these skills to Axis," he added.

Mr. Nikopoulos currently serves as vice-chair of Triad Financial Services Inc., the longest-standing manufactured housing finance company in the U.S., and as vice-chair of 3MotionAI, a smart health technology company focused on maximizing human performance and reducing injury risk at work and play.

Mr. Nikopoulos also holds positions on several charitable boards, including the St. Michael's Hospital Foundation. He earned an honours BA degree from the University of Toronto and a law (JD) degree from Osgoode Hall Law School. In 2014, he was named one of Canada's Top 40 under 40 Lawyers by Lexpert.

Mr. Thom retirement

Mr. Thom has retired from the board after serving as chair of the corporate governance and compensation committee for five years. "We want to thank Gerry for his contributions through the ramp-up of our business and wish him all the best in well-deserved retirement," commented Mr. Hudson.

About Axis Auto Finance Inc.

Axis is a fintech lender changing the way Canadians buy and finance used vehicles. Through its direct-to-consumer portal, users can choose their next used vehicle, customize financing terms and get the car delivered -- from the comfort of their home. In addition, the company continues to grow B2B (business-to-business) non-prime auto loan originations by delivering innovative technology solutions and superior service to its dealer partners. For its borrowers, an Axis auto loan is an effective stepping stone to credit recovery, with over 70 per cent seeing a significant score improvement in the first 12 months.