Mr. Dave Feller of Mogo reports

MOGO ANNOUNCES PARTNERSHIP WITH CANADA'S LARGEST NEWS MEDIA COMPANY TO CREATE GO-TO EDUCATIONAL WEALTH CONTENT CHANNEL FOR CANADIANS

Mogo Inc. has entered a new strategic partnership with Postmedia Network Inc. to launch a new content channel with news and information on wealth building. The channel will be aimed at educating Canadians on how to invest, accumulate wealth, and manage it effectively to achieve their financial goals, addressing a gap in the availability of quality educational content from existing financial services providers. According to the J.D. Power 2023 Canada Retail Banking Advice Satisfaction Study, "Investment and retirement advice is the most-frequent type of advice both desired and received by bank customers and interest for this topic is on the rise."

With a joint focus on educating current and future investors, Postmedia is establishing a new digital channel on the Financial Post platform, with distribution extending to other Postmedia properties. Postmedia reaches approximately 17.8 million Canadians each month across its platforms. Postmedia will independently operate the channel, with Mogo as its founding sponsor. Mogo will also contribute its own branded educational content and tools on wealth building, including its patent-pending wealth calculator.

"It's clear that the vast majority of Canadians are nowhere close to being on the right path to achieving financial freedom. In fact, recent surveys show that 75 per cent of preretirees between the ages of 55 and 65 have less than $100,000 saved versus the $1.7-million estimated average Canadians believe they need to retire," said Dave Feller, founder and chief executive officer of Mogo. "A big part of the problem comes down to the products that many Canadians find themselves in like high-fee underperforming mutual funds, when the data clearly shows that they would be far better off investing in low-cost ETFs [exchange-traded funds], such as those that track the S&P 500. There's an estimated $2-trillion sitting in these mutual funds today, and assuming an average of about 2 per cent, that's $40-billion a year in fees that could be going towards Canadians wealth building. The right educational content is going to be a key driver of disrupting the status quo, and helping all Canadians get on a much-better path. We couldn't think of a better organization to partner with than Postmedia, as they have always been a leader in this area, especially through properties like the Financial Post."

"This new initiative reinforces Postmedia's long-standing commitment to bringing Canadians high-value editorial and content so they can understand the economy, the financial markets, and the investment solutions and strategies available to them," said Erika Tustin, vice-president, content monetization, Postmedia. "We're excited to partner with a company like Mogo to help deliver on this commitment and create unique content that brings value to our readers, subscribers and customers."

"We're very pleased to be renewing our long-running partnership with Mogo as part of this unique initiative," said Andrew MacLeod, president and chief executive officer, Postmedia. "This new channel represents the perfect alignment between Mogo's vision for the future and Postmedia's commitment to delivering indispensable, trusted content to Canadians."

Under the new agreement, Mogo will issue 500,000 warrants to Postmedia, with each such warrant entitling Postmedia to acquire one Mogo share at a price of $2.15 for a period of three years from the date of issue. The issuance of the warrants is subject to Toronto Stock Exchange approval.

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 Mr. Buffett's 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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