Mr. Greg Feller reports

MOGO TO RESUME SHARE REPURCHASES UNDER NASDAQ BUYBACK PROGRAM

Mogo Inc. intends to resume share repurchases under its share buyback program on the Nasdaq Stock Market following the release of its Q4 and FY 2023 financial results.

In 2023, the company repurchased and cancelled 474,353 common shares under its share buyback program on Nasdaq and its normal course issuer bid on the Toronto Stock Exchange at an average price of $2.36 per share. Including the 600,000 common shares repurchased in 2022 under the Nasdaq buyback program, the company has repurchased 1,074,353 common shares to date, representing 4.4 per cent of the company's current outstanding common shares. The company currently has 24.5 million common shares issued and outstanding.

Mogo is repurchasing common shares under the buyback program because it continues to believe that the market price of its common shares does not accurately reflect their underlying value and the repurchasing for cancellation of such common shares is intended to enhance long-term shareholder value.

"We expect to remain active with our Nasdaq buyback program given we continue to believe our shares are undervalued, especially considering the recent progress, results and growth outlook in our core business, in addition to our 13-per-cent ownership in Wonderfi, Canada's only fully regulated crypto exchange," said Greg Feller, president and chief financial officer.

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 a 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.

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