Mogo Announces 2023 Share Buybacks

Rhea-AI Summary

Mogo Inc. repurchased a total of 254,456 shares year to date, aiming to enhance long-term shareholder value.

Positive

• Mogo Inc. repurchased 134,502 shares in Q3 2023 under its buyback programs on NASDAQ and TSX, averaging at US$1.7977 and CA$2.0650 per share respectively.

Negative

• None.

Company has repurchased a total of 254,456 shares year to date

VANCOUVER, British Columbia--(BUSINESS WIRE)-- Mogo Inc. (NASDAQ:MOGO) (TSX:MOGO) (“Mogo” or the “Company”), one of Canada’s leading financial technology companies, today announced that, during the three months ended September 30, 2023, the Company repurchased and cancelled 134,502 shares under its common share buyback program on NASDAQ and its normal course issuer bid on the Toronto Stock Exchange (the “TSX”), which was implemented in August 2023. For the fiscal year to date, the Company has repurchased 254,456 shares under both buyback programs. The Company currently has 24.7 million common shares issued and outstanding.

Exchange	Shares Acquired in Q3 2023	Average Price
NASDAQ	124,102	US$1.7977
TSX	10,400	CA$2.0650

Mogo is repurchasing common shares under the buyback programs 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.

All common share amounts and prices referred to in this press release have been adjusted to reflect the Company's 3:1 share consolidation that was implemented in August 2023.

About Mogo

Mogo, one of Canada’s leading digital finance companies, is empowering its members with simple digital solutions to help them build wealth and achieve financial freedom. Mogo’s trade app, MogoTrade, offers commission-free stock trading that helps users make a positive impact with every investment and together with Moka, Mogo’s wholly-owned subsidiary bringing automated, fully-managed flat-fee investing to Canadians, forms the heart of Mogo’s digital wealth platform. Mogo also offers digital loans and mortgages. Through Mogo’s wholly-owned subsidiary, Carta Worldwide, we also offer a digital payments platform that powers the next-generation card programs from innovative fintech companies in Europe and Canada. To learn more, please visit mogo.ca or download the mobile app (iOS or Android).

View source version on businesswire.com: https://www.businesswire.com/news/home/20231005983833/en/

Craig Armitage

Investor Relations

investors@mogo.ca

(416) 347-8954

US Investor Relations Contact

Lytham Partners, LLC

Ben Shamsian

New York | Phoenix

shamsian@lythampartners.com

(646) 829-9701

Source: Mogo Inc.

FAQ

How many shares did Mogo Inc. repurchase in Q3 2023?

Mogo Inc. repurchased 134,502 shares in Q3 2023.

At what average price were the shares repurchased on NASDAQ?

The shares were repurchased on NASDAQ at an average price of US$1.7977 per share.

Why is Mogo Inc. repurchasing common shares?

Mogo Inc. believes that the market price of its common shares does not accurately reflect their underlying value, and repurchasing them is intended to enhance long-term shareholder value.

How many common shares does Mogo Inc. currently have issued and outstanding?

Mogo Inc. currently has 24.7 million common shares issued and outstanding.