AS "mogo" Latvia operations group (including AS "mogo" and AS "Renti") informs about the shareholders` decision to decrease the share capital of the Company by EUR 4 575 000 by cancelling 4 575 000 shares of the Company. The Company’s share capital after the decrease shall be EUR 425 000 and will comprise of 425 000 shares, with the nominal value of each share EUR 1.

The decreased capital will be used to offset the receivables from the Eleving Group S.A. (ultimate parent entity of Eleving Group). After the nominal share capital’s decrease the Company will continue to be well capitalized with total consolidated equity equalling EUR 15 million and Equity ratio (Equity over Total Assets) being at 27.6% as of 31 October 2021 on a pro forma basis.

About AS “mogo”

AS “mogo” is a part of the international financial technology company Eleving Group (former Mogo Finance). Mogo in Latvia offers leasing, reverse leasing, and car rental services in the most convenient way for customers - online, by phone, and with more than 210 partners. Mogo in Latvia serves more than 12 thousand customers, managing a product portfolio of 38 million euros.

About Eleving Group

Eleving Group comprises a number of international and fast-growing financial technology companies with a global presence. The Group operates in the vehicle and consumer finance segments in 3 continents, providing financial inclusion and disruptively changing financial services industries in its countries of operation. Founded in 2012 in Latvia and having expanded all across the Baltics within its first year in business, the Group continued expansion in the following years, servicing a total of 14 active markets as of the end of first half of 2021.

With its headquarters in Latvia, the Group operates in the Baltics, Central, Eastern, and South-Eastern Europe, Caucasus, Central Asia, and Eastern Africa.

For two consecutive years since 2020, the Group has appeared on the Financial Times list of Europe’s 1000 fastest growing companies.

Read more: www.eleving.com

Neringa Plauskiene

Eleving Group

Regional Chief Financial Officer

Email: neringa.plauskiene@eleving.com