Axis Announces Filing of Credit Agreement and Amendments

TORONTO--(BUSINESS WIRE)--Nov 29, 2024--

Axis Auto Finance Inc. (“Axis” or the “Company”) ( TSX: AXIS ), announces that, at the request of the Ontario Securities Commission, the Company has filed a copy of the credit agreement and associated amendments in respect of the Company's senior funding facility (the "Facility"). If the transaction described in the Company's press release dated October 21, 2024 and its management information circular dated October 30, 2024 are approved and completed, then a portion of the proceeds from such transaction will be used to repay the amounts outstanding under the Facility.

About Axis Auto Finance

Axis is a fintech lender providing alternative used vehicle financing options to non-prime borrowers. Axis loans are offered through automotive dealers to approximately 30% of Canadians (Source: Equifax) that have credit scores in the non-prime range. All Axis auto loans report to the credit bureau, resulting in over 70% of customers seeing a significant improvement of their credit scores. Further information on the Company can be found at https://www.axisfinancegroup.com/investors-press-releases/.

The TSX Exchange has neither approved nor disapproved the contents of this press release. Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

Notice Regarding Forward-Looking Statements

This news release contains forward-looking information and forward-looking statements (collectively, "forward-looking statements") within the meaning of applicable securities laws, regarding the Company's business and operations. In this news release, forward-looking statements relate to, among other things, information regarding the repayment of the Facility.

Forward-looking statements are necessarily based on a number of assumptions that the Company considered appropriate and reasonable as of the date such information is given, including but not limited to the assumptions that the transaction will proceed according to the Company's anticipated timelines. Forward-looking statements are subject to known and unknown risks, uncertainties, and other factors, many of which are beyond the Company's control, that may cause actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements, including but not limited to the risk that the Company's assumptions on which its forward-looking statements are based may not be accurate; the inability to receive, in a timely manner and on satisfactory terms, the necessary approvals for the transaction and other matters to be considered at the meeting of shareholders of the Company; the inability to satisfy, in a timely manner, all other conditions to the completion of the transaction; and the risk factors disclosed in the Company's periodic reports publicly filed and available on its SEDAR+ profile at www.sedarplus.ca. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur. There is no assurance that the proposed transaction will be completed in accordance with its terms or at all. The forward-looking statements contained in this news release are made as of the date of this announcement and the Company does not undertake any obligation to update such forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

View source version on businesswire.com:https://www.businesswire.com/news/home/20241129039536/en/

CONTACT: For further information:

Axis Auto Finance Inc.

Todd Hudson

CEO

(416) 633-5626

ir@axisautofinance.com

KEYWORD: NORTH AMERICA CANADA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES AFTERMARKET AUTOMOTIVE GENERAL AUTOMOTIVE FINANCE FINTECH

SOURCE: Axis Auto Finance Inc.

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