Mr. Greg Feller reports

MOGO'S DIGITAL PAYMENTS SUBSIDIARY, CARTA WORLDWIDE, REPORTS 36% INCREASE IN PAYMENTS VOLUME IN 2023 TO $9.9 BILLION

The payments volume of Carta Worldwide, a global digital payments business owned and operated independently by Mogo Inc., for the 12 months ended Dec. 31, 2023, reached $9.9-billion, a 36-per-cent increase over the prior year.

"Carta's growth in 2023 was driven by continued expansion in its core European payments business," said Greg Feller, president and chief financial officer of Mogo. "We believe the strong momentum in 2023 along with the substantial investment in Carta's platform during the year, including the previously announced migration to Oracle Cloud Infrastructure, position the business for long-term growth in the $2.2-trillion global payments market."

About Carta Worldwide

Carta is a digital payments software company which provides technology and services that enable financial technology companies, banks and corporations to issue payment products to consumers via multiple channels, including physical, virtual and tokenized cards, as well as payment switching and routing services. Carta was founded in 2008 with a vision to build a modern issuer processing platform that could enable innovators around the globe to deploy a new wave of payment products. The Carta platform provides the infrastructure to help fintech and payments businesses build and manage their payment systems, and it supports prepaid, debit and credit card issuer processing. Carta is certified as a Visa and MasterCard processor with active card programs in over 35 countries.

About Mogo Inc.

With more than two million members and $9.9-billion in annual payments volume, Mogo is one of Canada's leading and most innovative fintechs. Mogo is disrupting the multitrillion-dollar Canadian wealth industry with simple digital solutions to help members dramatically improve their path to wealth creation and financial freedom. Mogo's trade app, MogoTrade, offers commission-free stock trading that helps users thoughtfully invest based on a Warren Buffett approach to long-term investing -- and make a positive impact with every investment. Moka, Mogo's wholly owned subsidiary, offers Canadians a real alternative to mutual funds that overcharge and underperform with a passive investing solution based on an S&P 500 strategy at a fraction of the cost of typical mutual funds. Together, these products offer a holistic solution for best-in-class passive and active investing that is built to optimize the wealth-building of Canadians, not the fees they generate. Through its digital payments subsidiary, Carta Worldwide, Mogo also offers a payments platform that powers the next-generation card programs from innovative fintech companies in Europe and Canada.

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