Mogo (MOGO) Provides Update on Share Buyback

Mogo Inc. (NASDAQ: MOGO) 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.

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.

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