CORRECTION: AS "mogo" annual report for the year ended 31 December 2021 attached below.

AS "mogo" Latvia operations group (including AS "mogo" and AS "Renti") continues to demonstrate sound financial performance. The Group's net profit amounted to 5.6 million euro, securing a similar result as in 2020. Stable result despite turbulent COVID-19 affected 2021 were supported by further operational improvements in the long-term rent and car sale processes as well as supported by the performing portfolio sales. Car sale net result has improved by 1 million euro, while car rental income has increased by 5% compared to 2020, reaching 6.5 million euro. Income from related parties servicing doubled, reaching 822 thousand euro in 2021. On average, the Group concluded 145 new leasing and long-term car rent agreements monthly, reaching a 14% market share in used car rent and leasing.

Krišjānis Znotiņš, Chairman of the Mogo Latvia Board: "In 2020, the Group's net profit was the highest since the establishment of the Company in 2012; thus the fact that we have managed to repeat the same result allows us to rate 2021 as a good one. Group continued its operations to accomplish its mission – make personal mobility easily accessible to all residents of Latvia while being united in love for the car. To further expand mobility offer to our customers we have launched a new car subscription service Renti plus. Subscription is offered for up to 36 months and includes all car-related services. Choose the car and drive on the same day. This will be a focus for 2022.”

In 2021, the Group continued to invest significant resources in developing information system solutions to improve its operational activities by automating the current processes in the nearest future. The focus areas in 2022 are to continue ensuring stable portfolio quality and providing improved customer experience for the Latvian operations Group's offered products and related party servicing.

About AS “mogo”

AS “mogo” is a part of the international financial technology company Eleving Group (former Mogo Finance). Mogo in Latvia offers leasing, leaseback, and car rental services in the most convenient way for customers - online, by phone, and with more than 220 partners. Mogo in Latvia serves more than 12 thousand customers, managing a product portfolio of 39 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 2021.

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

Read more: www.eleving.com

Neringa Plauskiene

Eleving Group

Regional Chief Financial Officer

Phone: +371 66900904

Email: neringa.plauskiene@eleving.com