Axis Auto PP

1 Private & Confidential Investor Presentation Private & Confidential Introduction to Axis Auto Finance Axis Auto Finance Inc. ( Axis ) (TSXV:AXIS) provides used car financing solutions to borrowers unable to obtain financing through traditional lending sources The Company's portfolio has grown to $110 MM+ post two acquisitions in 2018, and has consistently delivered superior performance metrics Best in the industry management team and board of directors The Company is rapidly growing, organically and through acquisitions Receivables are funded through a combination of term debt and securitization Net Finance Receivables Yield vs. Loss Rate (1). Axis Auto Finance is a high-growth, non-bank automotive finance company that is backed by seasoned specialty lending executives and is poised for significant expansion Note: All dollar amounts in CAD | fiscal year end is June 30 1.

2 1 Post 2 Acquisitions Private & Confidential Axis Management Team 25 years of sales and operations management experience in canadian alternative lending Todd Hudson CEO Proven track record of excellence growing companies both organically and through acquisitions, having overseen and integrated 14 acquisitions throughout his career Ilja Troitschanski A successful entrepreneur with a wealth of business development experience Founder & President Has built Axis consistently delivering best portfolio metrics in the industry Richard Lloyd Former Director of Operations & Finance at Travelers (acquired by Scotia). CFO 20 year career in the automotive finance industry Steven Koster Former SVP Finance at CIT Canada/Newcourt Credit annual originations of US$ Managing Director Former General Manager at TD Equipment Finance Best-in-class management team of industry veterans is leading Axis on to the next stage of growth 2.

3 Private & Confidential canadian Non-Prime Auto Finance A vehicle is a necessity, with 3 MM used cars sold annually in Canada = a market of ~$40 B. ~30% of Canadians do not qualify for traditional financing sources canadian non-prime used vehicle financing is an estimated ~$8 B market There are >8,000 auto dealers in Canada, Axis is in ~900 today canadian Used Light Vehicle Retail Market ($ B). canadian used auto market 85% of used vehicles are has grown ~50% over the financed through leases past 10 years or loans The canadian used light vehicle market is large and has realized significant growth over the past decade Source: Desrosiers 3. Private & Confidential Current Competitive Landscape A and B credit markets are dominated by the banks The D credit market is highly fragmented with no dominant players The opportunity for a roll-up strategy exists and Axis has begun consolidation Client Credit Quality A B C D.

4 CONSOLIDATED BY AXIS. Lenders Servicing Market Segment The non-prime space is fragmented and the opportunity for consolidation is significant Source: DealerTrack 4. Private & Confidential Axis Customer Profile Average Customer Average Lease 37 years old ~7 year old vehicle Income of $3,900/month Beginning balance of ~$11,000. Credit score between 450-600 Monthly payments of ~$400. Average term of 48 months canadian Credit Market Breakdown by Credit Score 24%. 21%. 14%. 12%. 10%. 5%. 4% 4% 4%. No Score < 549 550 - 599 600 - 649 650 - 699 700 - 749 750 - 799 800 - 849 850 +. Large addressable market;. Approximately 30% of Canadians have credit scores in the non-prime range Source: Equifax 5. Private & Confidential Culture of Risk Management Each client's credit situation is evaluated individually, using newest technology tools In cases of non-payment, Axis is protected through: Fair market value of the vehicle is established at Stringent the point of adjudication Bi-Weekly payments allow higher contact Underwriting A lien is put on each vehicle frequency Criteria Rigorous audit/verification process prior to GPS units installed in funding the vehicle Every vehicle is insured with Axis as loss payee.

5 ADESA Canada Used Vehicle Price Index Carfinco went through the last recession with a manageable increase in losses Recession- Prices of canadian Resilient used cars have Business remained very stable over time During the Great Recession prices dipped 9%. Source: Company disclosures, ADESA Canada 6. Private & Confidential Consolidation Strategy The subprime auto finance space presents an opportunity for Axis to implement a roll up strategy, scale quickly, and build a platform where Axis can dominate by leveraging economies of scale, operational efficiencies and cheaper funding. Axis has begun the consolidation process and has successfully executed the first two targets: (1) Cars on Credit Financial ( CoCF ) and (2) Trend Financial Corp. ( Trend ). $110 MM. Trend Portfolio $54 MM. $58 MM. CoCF Portfolio CoCF Portfolio $34 MM $34 MM. Stand Alone: $22 MM.

6 Axis Portfolio Axis Portfolio Axis Portfolio $22 MM $24 MM $24 MM. June 2017 March 2018 June 2018. Axis is now the largest publicly traded subprime auto lender in Canada (1) Pro-forma approximation 7. Private & Confidential Acquisition Benefits Benefits of the Acquisitions 1 Geographic diversification into the Maritimes Elimination of a direct competitor Establishment of the Largest Public Sub-Prime Automotive Finance Company in Canada 2 Combined finance receivables of approximately $110 MM. Solidifies Axis as the market leader in the Ontario sub-prime automotive finance space Creates Highly Leverageable Platform to Make Strategic Acquisitions and Increase Scale Immediate size and scale provides currency and operating leverage to serve as an acquisition platform 3. Reduced client acquisition cost and lower cost financing (expected to be in place in 2018).

7 Attractive Combination Metrics and Realizable, Near-Term Synergies Expected to be immediately accretive to CY 2018 adjusted earnings(1) per share 4. Significant operating synergies given front- and back-end operational similarities Best-in-Class Management and Board who are Significantly Aligned with Shareholders 5 Strong management team with decades of experience in the non-prime automotive finance sector Significant shareholder alignment (insiders own 29%). (1) As defined in the Company's MD&A dated June 12, 2018 8. Private & Confidential Capitalization & Ownership Capitalization Equity Ownership (in millions) (basic). Share Price (as of Aug. 24, 2018) $ Axis Insider Holdings Institutional Holdings Retail Holdings Axis Insider Holdings Retail 29%. Basic Shares Outstanding Holdings 40%. Market Cap $51. Institutional Holdings 31%. Metrics Axis P/B Carfinco (CFN) 10 Year Avg.

8 P/B Carfinco (CFN) 10 Year Avg. P/E Note: All dollar amounts in C$MM, all share amounts in millions 9. Private & Confidential Historical Auto Finance Success Acquired in 2006 by P / E: nmf P / B: (Travelers Leasing Acquired in 2007 by Corporation). Terms not disclosed Acquired in 2015 by P / E: CASE STUDY ON CARFINCO SHAREHOLDER P / B: RETURN SHOWN IN APPENDIX. Acquired in 2015 by P / E: P / B: The canadian automotive finance sector has undergone large, selective M&A over the past decade;. Numerous M&A opportunities remain in a fragmented market of smaller, regional players Source: Company materials, equity research 10. Note: P/E multiples presented on a trailing basis Private & Confidential Board of Directors Paul Stoyan Chairman of Gardiner Roberts LLP, a canadian business law firm Chairman Director at ECN Capital and Enghouse Systems; former Director at Open Text Corporation Todd Hudson CEO of Axis Director Board of Directors Ilja Troitschanski Founder and President of Axis Director Bruce Smith Former President and Chief Operating Officer of Element Financial Corporation (TSX: EFN).

9 Director and former Managing Director and Senior Vice President of Vendor Finance at CIT Financial Gerry Thom 35 years of experience in operations and management in the public and private sectors Director Recently retired as President of the Public Services Commission Jordan Zinberg Founder and CEO of Bedford Park Capital Director Former MD and PM at Donville Kent an award winning $300 MM hedge fund Wes Neichenbauer VP and CFO at Rowntree Enterprises Director Decades of experience in automotive retail and financing with Applewood and Trend Financial 11. Private & Confidential Near Term Milestones Coast-to- Axis is expecting to be originating in all relevant Coast canadian markets Expansion Axis is expecting to re-finance its existing senior debt with Bank Line a significantly cheaper and significantly larger bank funding facility TSE Listing Axis is expecting to graduate to the TSE from the TSXV.

10 12. Private & Confidential Appendix: Carfinco Case Study 13. Private & Confidential Carfinco Case Study Overview Carfinco Financial Group Inc. ( Carfinco ) is a non-prime automotive finance company operating as a wholly-owned subsidiary of Banco Santander Company Completed its initial public offering in 1997 and was acquired by Banco Santander in 2015 for $298 MM. Description Historically focused in the D-credit space with a recent migration to B and C-credit space Operated in every province in Canada Approximately 2,500 dealer relationships across Canada Geographic Breakdown (Sept. 30, 2014). $269. $244 United States Finance $183 $43. $150. Receivables $125 Western $106 $101 Canada ($ MM) $73. $92 Eastern $140. $60 Canada $42 $86. 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Sept. 2014. $ Total Shareholder Return (1). ($ ). 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015.