MoneyLion Announces $20 Million Share Repurchase Program

MoneyLion Inc. (“MoneyLion”) (NYSE: ML), a digital ecosystem for consumer finance that empowers everyone to make their best financial decisions, today announced that its Board of Directors has authorized the repurchase of up to $20 million of MoneyLion’s outstanding Class A common stock (the “Repurchase Program”).

Under the Repurchase Program, MoneyLion may repurchase from time to time shares of its Class A common stock for cash through any manner, including open market transactions (including pursuant to broker plans in accordance with Rule 10b5-1 and Rule 10b-18), privately negotiated transactions with third parties or accelerated share repurchase agreements, and in such amounts as MoneyLion deems appropriate, subject to legal requirements and other corporate considerations.

The volume and timing of any repurchases will be subject to general market conditions, as well as MoneyLion’s management of capital, other investment opportunities and other factors. The Repurchase Program does not obligate MoneyLion to repurchase any specific dollar amount or number of shares, has no fixed expiration date and may be modified, suspended or discontinued at any time at MoneyLion’s discretion.

MoneyLion currently expects to fund the Repurchase Program from existing cash on hand and future cash flows. As of June 30, 2024, MoneyLion had cash and cash equivalents of approximately $98 million. MoneyLion had 10,968,455 shares of Class A common stock outstanding as of August 1, 2024.

About MoneyLion

MoneyLion is a leader in financial technology powering the next generation of personalized products, content, and marketplace technology, with a top consumer finance super app, a premier embedded finance platform for enterprise businesses and a world-class media arm. MoneyLion’s mission is to give everyone the power to make their best financial decisions. We pride ourselves on serving the many, not the few; providing confidence through guidance, choice, and personalization; and shortening the distance to an informed action. In our go-to money app for consumers, we deliver curated content on finance and related topics, through a tailored feed that engages people to learn and share. People take control of their finances with our innovative financial products and marketplace - including our full-fledged suite of features to save, borrow, spend, and invest - seamlessly bringing together the best offers and content from MoneyLion and our 1,200+ Enterprise Partner network, together in one experience.