Automotive Finco Provides Update Regarding Transfer to NEX

Automotive Finco Corp. (TSX-V: AFCC) (“

AFCC

” or the “

Company

”) today announces that, further to its news releases dated February 16, 2021 and April 7, 2021, the TSX Venture Exchange (the “

Exchange

”) advises that the Company has not satisfied the Tier 2 CLR and its listing on the Exchange will be transferred by the Exchange to the NEX board (the “

NEX

”) effective at the opening of trading on April 21, 2021. The Company’s shares will continue to trade under the symbol AFCC but with the extension (.H). The symbol extension differentiates NEX symbols from Tier 1 or Tier 2 symbols within the Exchange. There is no change in AFCC’s name, no change in its CUSIP number and no consolidation of capital.

About Automotive Finco Corp.

AFCC is a finance company focused exclusively on the auto retail sector. In addition to its interest in Automotive Finance LP, AFCC may also pursue other direct investments and financing opportunities across the auto retail sector.

Forward-Looking Information

This press release may contain forward-looking information within the meaning of applicable securities regulation. The words "may", "will", "would", "should", "could", "expects", "plans", "intends", "trends", "indications", "anticipates", "believes", "estimates", "predicts", "likely" or "potential" or the negative or other variations of these words or other comparable words or phrases, are intended to identify forward-looking statements. These statements include, without limitation, statements regarding the transfer of AFCC’s listing to the NEX board and the timing thereof. The Company believes the expectations reflected in the forward-looking statements in this press release are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties that may cause the results or events mentioned in this press release to differ materially from those that are discussed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, general, local, economic, and business conditions. All forward-looking information in this press release speaks as of the date hereof. The Company does not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise. Additional information about these assumptions and risks and uncertainties is disclosed in filings with securities regulators filed on SEDAR (www.sedar.com).

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information please refer to the Company's website at www.autofincocorp.com or contact Shannon Penney, Chief Financial Officer, at [e-mail] or (905) 619- 4996.