Mr. Greg Feller reports

MOGO ADDS BITCOIN TO ITS TREASURY MANAGEMENT STRATEGY

Mogo Inc.'s board of directors has approved a change to its treasury management strategy to include bitcoin and bitcoin exchange-traded funds, and has authorized an initial investment of up to $5-million.

"Mogo was an early entrant to crypto investing in North America, having first invested in bitcoin in 2020, and we continue to believe in the long-term investment opportunity for bitcoin," said Greg Feller, president of Mogo. "The recent regulatory approval of spot bitcoin ETFs, along with the commitment of several of the world's largest asset managers such as Fidelity and BlackRock, support our view that bitcoin is a legitimate global asset class with attractive qualities that make it a unique store of value. Today's announcement, along with Mogo's approximately 13-per-cent ownership in WonderFi, provide our shareholders with meaningful exposure to this asset class."

For the third quarter ended Sept. 30, 2023, Mogo reported cash and total investments of $43.7-million. This included combined cash and restricted cash of $19.3-million and an investment portfolio of $24.5-million. Mogo's assets also include 87 million common shares (approximately 13 per cent of the shares outstanding) of WonderFi Technologies Inc., one of the largest regulated crypto investing ecosystems in Canada.

About Mogo Inc.

Mogo is a digital wealth and payments company headquartered in Vancouver, Canada, with more than two million members, $9.9-billion in annual payments volume and an approximately 13-per-cent equity stake in Canada's leading cryptocurrency exchange, WonderFi. Mogo offers simple digital solutions to help its members dramatically improve their path to wealth creation and financial freedom. Mogo offers commission-free stock trading that helps users thoughtfully invest based on a Warren Buffett approach to long-term investing -- while also making a positive impact with every investment. Mogo offers Canadians a real alternative to mutual funds and wealth managers that overcharge and underperform, with a fully managed investing solution based on the proven outperformance of an S&P 500 strategy, and at a fraction of the cost. Through its wholly owned digital payments subsidiary, Carta Worldwide, Mogo also offers a low-cost payments platform that powers next-generation card programs for companies across Europe and Canada. The company, which was founded in 2003, has approximately 200 employees across its offices in Vancouver, Toronto, London and Casablanca.

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