Mogo Nominates Independent Candidate for Election to WonderFi’s Board of Directors – Supports KAOS Capital’s Call for a Fundamental Transformation of Board

Mogo Inc. (NASDAQ:MOGO) (TSX:MOGO) (“Mogo” or the “Company”), today announced that, pursuant to its investor rights agreement ("IRA") with WonderFi Technologies Inc. ("WonderFi") and the Company's right thereunder to nominate one director (the “Mogo Director Nominee”) for election to the Board of Directors of WonderFi (the "Board"), it has nominated experienced technology and financial executive, Christoper Payne, for election to the Board at WonderFi's upcoming 2024 Annual General Meeting of Shareholders (the “2024 Meeting”). Mogo is WonderFi’s largest shareholder, holding approximately 87 million common shares (~13% ownership interest) of WonderFi (the “WonderFi Shares”). Mogo also announced that it has entered into a voting agreement with KAOS Capital Ltd. (“KAOS Capital”) supporting a slate of new directors at WonderFi. KAOS’ press release from this morning may be found at the following link: https://www.businesswire.com/news/home/20240327940114/en/Activist-Adam ...

“Chris will bring a proven track record of value creation and important sector and market-level expertise to the WonderFi board at a critical time in the company’s development,” said Greg Feller, President & Co-Founder of Mogo. “Chris’s time in Silicon Valley in the electronic payments space as a co-founder with Elon Musk of online bank X.com, and as an investor in, and advisor to mid-market growth technology companies, will be a valuable resource to WonderFi as it seeks to leverage its current market position into sustainable, profitable growth.”

Mr. Feller added, “Earlier today, we also entered into a voting agreement with KAOS Capital, expressing support for their call for a fundamental transformation of the WonderFi board. Over the past several months we have tried to constructively engage the WonderFi board on a number of important topics, including senior additions to the management team to assist with strategy and investor relations. Mogo has invested over $100 million to build its current position in WonderFi, and the goal of our recommendations was to help WonderFi capitalize on its position as the only fully regulated crypto exchange in Canada. Unfortunately, WonderFi has refused to engage on these items which we view as critical to the company’s success. We feel that new perspectives and experience are urgently required at the WonderFi board level to realize the full value of the WonderFi business for all shareholders.”