A New Era Unfolds

Micromobility’s Commitment to Shareholders and Vision for the Future

Dear Esteemed micromobility.com Shareholders,

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230828192608/en/

Visit www.micromobility.com (Graphic: Business Wire)

I wish to acknowledge and address the concerns you may have regarding the performance of Micromobility's stock ($MCOM). Your investment is not merely financial capital; it embodies a profound trust in our vision, a responsibility I carry with the utmost seriousness as your CEO.

Operational Shift and Milestones Ahead: A Pivotal Transition

First and foremost, let's address a major point that many of you have inquired about: the question of long-term financing without diluting shareholder value. Our business model is undergoing a transformative shift, marking a significant milestone in Micromobility's journey.

I am thrilled to announce that our flagship SoHo store will officially open its doors on September 9th, followed by a grand opening celebration the following week. More details will be disclosed in a separate press release next week. This initiative is more than a launch; it's the genesis of an ambitious retail strategy that we intend to scale rapidly following a successful pilot. We are tirelessly dedicated to making this model a resounding success.

Financial Resilience and Strategic Focus: Unlocking Unprecedented Value

In the near term, my foremost objective is to guide Micromobility toward solid profitability. We are actively investigating alternative financing mechanisms that would enable us to sidestep the need for utilizing the SEPA as a primary source of funding. Our recently secured investment serves as a key enabler in this strategy. This investment not only provides financial breathing room but also fortifies our strategic orientation, ensuring that we are well-placed to meet our objectives without eroding shareholder value.

In simpler terms, this means we are doing everything within our power to avoid shareholder dilution. Our commitment isn't just in words, but manifest in recent actions that unequivocally echo this strategy. This calculated move has empowered us to unlock unprecedented value for both our company and for you, our esteemed shareholders, without any compromise on our shared long-term vision.

Leadership and Strategy Adjustments

In alignment with our revised focus, I'm actively looking for experienced leadership to join me in guiding Micromobility.com to its fullest potential. I am contemplating the introduction of a Co-CEO to enable a division of focus – allowing me to delve deeper into operational and business development strategies while new leadership can concentrate on the administrative and financial aspects.