Financiera Independencia, S.A.B. de C.V. announced that it has commenced an offer to exchange any and all of its outstanding 8.000% Senior Notes due 2024 (Existing Notes) for its newly issued 10.000% Step-Up Senior Notes due 2028 (Step-Up Notes) and a consent solicitation to solicit consents (Consent Solicitation) from Eligible Holders of the Existing Notes to amend (Proposed Amendments) the indenture governing the Existing Notes to eliminate substantially all of the restrictive covenants and various events of default and related provisions, contained in such indenture.

The Exchange Offer and the Consent Solicitation are being made pursuant to an Exchange Offer Memorandum and Consent Solicitation Statement, dated January 24, 2023 (Exchange Offer Memorandum), which sets more comprehensive description of the terms of the Exchange Offer and related Consent Solicitation. The Exchange Offer and the related Consent Solicitation are scheduled to expire on February 17, 2023, unless extended or terminated earlier (Expiration Date). Existing Notes that have been validly tendered may be withdrawn and related consents may be revoked at any time prior to February 3, 2023, unless extended (Withdrawal Date), but not thereafter, except as may be required by applicable law. Eligible Holders who validly tender (and do not validly withdraw) Existing Notes on or prior to 5:00 p.m., New York City time, on February 3, 2023, unless extended (the "Early Expiration Date"), will receive the Total Exchange Consideration, which includes the Early Exchange Payment. Total Exchange Consideration" means, for each $1,000 principal amount of Existing Notes validly tendered (and not validly withdrawn) and accepted by us: (1) $800 principal amount of Step-Up Notes and (2) a cash payment of $210. The Total Exchange Consideration includes a cash exchange premium of $10 per $1,000 principal amount of Existing Notes tendered (Early Exchange Payment). Eligible Holders who validly tender (and do not validly withdraw) Existing Notes after the Early Expiration Date but prior to the Expiration Date will receive the Exchange Offer Consideration, but not the Early Exchange Payment. "Exchange Offer Consideration" means, for each $1,000 principal amount of Existing Notes validly tendered (and not validly withdrawn) and accepted by us: (1) $800 principal amount of Step-Up Notes, and (2) a cash payment of $200. In addition, accrued and unpaid interest on the Existing Notes accepted for purchase from the last interest payment date of the Existing Notes to (but excluding) the Settlement Date (as defined below) will be paid in cash on the Settlement Date. The Existing Notes may be tendered only in minimum denominations of $200,000 principal amount and integral multiples of $1,000 in excess thereof. The Step-Up Notes will be issued in minimum denominations of $160,000 and any integral multiple of $1,000 in excess thereof. Subject to the minimum denomination, the aggregate principal amount of Step-Up Notes issued to each participating Eligible Holder for all Existing Notes properly tendered (and not withdrawn) and accepted by the Company will be rounded down, if necessary, to $1,000. The rounded amount will be the principal amount of Step-Up Notes the Eligible Holder will receive and any principal amount of Step-up Notes not received as a result of rounding will be paid in cash on the Settlement Date. The "Settlement Date" will be the date on which Step-Up Notes will be issued in exchange for Existing Notes accepted in the Exchange Offer and the cash consideration is paid to Eligible Holders, subject to all conditions to the Exchange Offer and Consent Solicitation having been satisfied or waived by the Company. The Step-Up Notes will mature on March 1, 2028 (Maturity Date) and will bear interest at a rate of 10.000% per annum from and including the Settlement Date, to (but excluding) March 1, 2026 (the "Interest Step-Up Date"). Thereafter, from and including the Interest Step-Up Date to (but excluding) their Maturity Date, the Step-Up Notes will bear interest at a rate of 12.000% per annum. Interest on the Step-Up Notes will be payable semiannually in arrears on each March 1 and September 1, commencing on September 1, 2023. The Step-Up Notes will be unconditionally and irrevocably guaranteed, jointly and severally, by Apoyo Económico Familiar, S.A. de C.V., Sofom, E.N.R., and Apoyo Financiero Inc., as guarantors (collectively, the "Subsidiary Guarantors") (the "Note Guarantee"). Simultaneously with the Exchange Offer, the Company is soliciting Consents to the Proposed Amendments to the indenture governing the Existing Notes (the "Existing Notes Indenture") to eliminate substantially all of the restrictive covenants and certain events of default and related provisions therein. The Proposed Amendments require the consents (the "Requisite Consents") of holders of a majority in aggregate principal amount of the Existing Notes outstanding. The Step-Up Notes have not been registered under the Securities Act, or any state securities laws. Accordingly, the Step-Up Notes will be subject to restrictions on transferability and resale and may not be transferred or resold except as permitted under the Securities Act and other applicable securities laws, pursuant to registration or exemption therefrom. FINDEP has retained BCP Securities Inc. to act as Dealer Manager in connection with the Exchange Offer and as Solicitation Agent in connection with the Consent Solicitation.