Mr. David Feller reports

MOGO LAUNCHES NEW MOKA.AI INVESTING APP DESIGNED TO HELP THE NEXT GENERATION OF CANADIANS BECOME MILLIONAIRES

Mogo Inc. has launched Moka.ai, the next generation of its wealth-building app with significant updates and enhancements designed to help the next generation of Canadians get on a real path to becoming millionaires and achieving financial freedom.

"A recent survey of Canadians aged 55 to 65 who have yet to retire revealed that 75 per cent have less than $100,000 saved versus the average amount of $1.7-million that Canadians believe they need to retire. This highlights how broken the system is and the opportunity for disruption," said David Feller, Mogo's founder and chief executive officer. "Our goal is to help ensure that the next generation doesn't suffer the same fate. Leveraging decades of data and behavioural science, we have created a product that helps anyone get on a path to being a millionaire. With Moka, we are seeing people go from not having a financial path to retirement to being on track for retiring with millions. Some were investing in mutual funds, some were simply putting money in a savings account, but most had no idea what the right approach was or how much they would need to invest to achieve financial freedom. Moka makes it easy."

The new Moka.ai app includes a powerful combination of features to help Canadians simplify and automate the wealth-building process:

• Power your wealth with behavioural science: Becoming a millionaire, like any important and challenging life goal, is more about adopting the right habits and behaviours than anything else. Losing weight, for example, is more about discipline and behaviour than knowledge of what makes a good diet. Moka utilizes behavioural science to help you adopt the right habits to achieve financial excellence.
• Set and manage your goals with Moka's financial freedom calculator: Moka now includes a patent-pending wealth calculator that helps anyone easily figure out how much they need to invest to achieve financial freedom. The calculator gamifies the right behaviours that help people achieve their financial goals.
• The most sustainable investing app in Canada: Mogo knows that it is not all about the money, and achieving financial freedom while also having a positive impact is important to the next generation. Moka users are also helping replant Canadian forests devastated by wildfires. Mogo's community has already planted over 300,000 trees.
• Proven long-term strategy: Moka specializes in helping members invest in the S&P 500, historically averaging a 10-per-cent annual return since 1957. Over a 50-year time horizon, investing in the S&P 500 outperformed the average investor by more than 16 times. It has also outperformed more than 90 per cent of money managers and has been recommended by legendary investors like Warren Buffett and Charlie Munger.
• Disruptive pricing model: One of the reasons Canadians dramatically underperform the market is because of the high fees charged in the industry. Moka introduces a revolutionary approach with a flat monthly fee of $7 per month, regardless of the value of your investments. As a comparative example, $100,000 invested in a mutual fund at 2 per cent would cost $2,000 in annual fees (versus $1,000 with a typical wealth adviser and only $84 with Moka). Over a typical 50-year investing horizon, this can mean hundreds of thousands in fees that can otherwise go toward your wealth.
• Simple automated investing: Moka is a fully managed solution. Users can easily automate their weekly or monthly investments and dividend reinvestments. The app also allows for fractional investing; Moka users can easily customize the amount they want to contribute.
• Artificial intelligence (AI): Mogo believes AI will reshape the investing landscape, and the new Moka.ai app has been built with this future in mind. The road map for the app includes new applications of AI that are expected to enhance the user experience and help people better achieve their investment objectives.

Canadians can open a Moka.ai account today by downloading the app on the Apple App Store and on Google Play.

About Mogo Inc.

Mogo is a financial technology 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 crypto exchange, Wonderfi, Mogo offers simple digital solutions to help its members dramatically improve their path to wealth creation and financial freedom. 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 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. Through its wholly owned digital payments subsidiary, Carta Worldwide, Mogo also offers a low-cost payment 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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