Mogo Group 2017 Q1 results

1. Investor Presentation
Q1 2017 Results
May 2017

2. Overview of Mogo Finance
Exclusive focus on used car finance
● Underbanked clients, with no direct competition from
bank leasing operations
● Key process automation power by scalable and
efficient proprietary IT platform
Concept proven across several
geographies
● Concept rolled out in Baltic States (2012) and
Georgia (2014)
● All above profitable by 2016
Pan-continental Europe expansion
● Poland operations launched Q3 2016
● Romania operations launched Q4 2016
● Bulgaria operations launched Q1 2017
● Five more geographies in pipeline for 2017
● Diverse external funding options available
2

3. Highlights
Improving financial performance
● Revenue up 4% Q/Q
● Quarterly profit reached EUR 2.5m (before
Forex)
Operational excellence
● Automated client scoring and car
assessment
● Continued investments in proprietary state
of the art ERP system
● In depth focus on marketing technology
stack development and optimisation
Group expansion
● Currently operating in the Baltics, Georgia
● Poland operations launched Q3 2016
● Romania operations launched Q4 2016
● Bulgaria operations launched Q1 2017
● Five more geographies in pipeline for 2017
3
447
724
2,310
1,776
1,185
3,390
49
257
1,022
1,807
1,878
2,106
2,524
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Q1
2016
Q2
2016
Q3
2016
Q4
2016
Q1
2017
Net Profit, kEUR
Profit Before Unrealized Forex, kEUR
3,833
4,432
4,789
5,532
6,524
7,221
7,675
8,119
8,454
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Q1
2016
Q2
2016
Q3
2016
Q4
2016
Q1
2017
Revenue

4. 4
Number of Active Clients
kEUR
» Cumulative growth in number of active clients 7%
18.39
21.21
24.52
29.33
30.56
32.29 32.82
33.91
34.66
Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017

5. 5
Loans Issued in 3 Months 2017
» Omni-channel strategy with great emphasis on on-line presence for
origination of new loans
30%
39%
31%
Online
Offline
Partners

6. 79%
16%
1%
3% 1%
Net Portfolio as at 31 March 2017: EUR 73,4m
6
Portfolio Analysis
» Conservative impairment policy employed with effective impairment rate
8% from gross portfolio
» Virtually no loans with delayed payments of more than 30 days
74%
16%
1%
3%
6%
Gross Portfolio as at 31 March 2017: EUR 80,2m
No Delay
1-30
31-60
Default/60+ Secured
Default Unsecured

7. Loan Portfolio Cash Flow
7
kEUR
» Cumulative growth in incoming cash flow of 9%
12541
11460
13050
16218
15076
13593 13278 13310
17455
7522
9776
11668
13143
13940
15277
15934
16685 16879
Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017
Total Cash Outflow Total Cash Inflow

8. Financial
Statements

9. 9
Latvia Financials
Income Statement, TEUR
2015 2016 Q1 2015 Q1 2016 Q1 2017
Interest income and similar income 9 427 10 634 2 164 2 452 3 159
Interest expense and similar expenses -2 569 -2 408 -510 -618 -624
Net interest income and similar income 6 858 8 226 1 654 1 834 2 535
Net impairment losses on loans and receivables -2 319 -887 -804 -331 -375
General admistrative and selling expenses -3 725 -3 934 -897 -923 -1 005
Other (expense)/income 354 40 3 8 77
Profit before tax 1 168 3 445 -44 588 1 232
Tax -163 -482 -55 -103 -155
Net profit 1 005 2 963 -99 485 1 077
Net Margin, % 11% 28% -5% 20% 34%
EBITDA 3 488 5 946 446 1 182 1 828
EBITDA Margin, % 37% 56% 21% 48% 58%
Balance Sheet, TEUR
31.12.2015 31.12.2016 31.03.2016 31.03.2017
Loans and advances 24 228 25 889 23 957 27 287
Cash and cash equivalents 400 147 388 318
Other assets 7 028 2 664 2 446 5 110
Total assets 31 656 28 700 26 791 32 714
Loans and borrowings 24 387 18 713 19 392 21 764
Other liabilities 1 386 1 666 1 032 1 552
Total liabilities 25 773 20 378 20 424 23 316
Total equity 5 883 8 321 6 368 9 399
Total equity and liabilities 31 656 28 700 26 791 32 714
Key ratios
Interest coverage ratio 1,5 2,4 2,0 3,0

10. 10
Lithuania Financials
Income Statement, TEUR
2015 2016 Q1 2015 Q1 2016 Q1 2017
Interest income and similar income 3 432 6 031 685 1 225 1 830
Interest expense and similar expenses -860 -1 427 -161 -319 -363
Net interest income and similar income 2 571 4 603 524 906 1 468
Net impairment losses on loans and receivables -536 -793 -92 -215 -291
General admistrative and selling expenses -1 869 -1 672 -538 -378 -392
Other (expense)/income -23 2 9 -2 -1
Profit before tax 144 2 139 -98 312 785
Tax -88 -429 0 -87 -64
Net profit 56 1 711 -98 225 722
Net Margin, % 2% 28% -14% 18% 39%
EBITDA 1 049 3 624 73 645 1 160
EBITDA Margin, % 31% 60% 11% 53% 63%
Balance Sheet, TEUR
31.12.2015 31.12.2016 31.03.2016 31.03.2017
Loans and advances 12 052 16 335 14 147 17 138
Cash and cash equivalents 4 144 231 267
Other assets 769 451 774 543
Total assets 12 825 16 930 15 151 17 948
Loans and borrowings 10 916 12 361 12 707 12 566
Other liabilities 583 1 531 894 1 622
Total liabilities 11 500 13 892 13 601 14 188
Total equity 1 325 3 039 1 550 3 760
Total equity and liabilities 12 825 16 930 15 151 17 948
Key ratios
Interest coverage ratio 1,2 2,5 2,0 3,2

11. 11
Estonia Financials
Income Statement, TEUR
2015 2016 Q1 2015 Q1 2016 Q1 2017
Interest income and similar income 2 499 4 199 534 882 1 325
Interest expense and similar expenses -836 -1 152 -168 -266 -319
Net interest income and similar income 1 663 3 047 366 616 1 006
Net impairment losses on loans and receivables -699 -575 -169 -240 -142
General admistrative and selling expenses -1 555 -1 250 -305 -283 -254
Other (expense)/income -12 -22 -7 1 1
Profit before tax -603 1 201 -115 93 612
Tax 0 0 0 0 0
Net profit -603 1 201 -115 93 612
Net Margin, % -24% 29% -22% 11% 46%
EBITDA 265 2 394 58 370 937
EBITDA Margin, % 11% 57% 11% 42% 71%
Balance Sheet, TEUR
31.12.2015 31.12.2016 31.03.2016 31.03.2017
Loans and advances 8 502 11 758 9 920 13 557
Cash and cash equivalents 73 69 242 99
Other assets 191 205 206 375
Total assets 8 766 12 032 10 368 14 032
Loans and borrowings 9 854 10 043 9 666 11 380
Other liabilities 398 575 394 625
Total liabilities 10 125 10 617 10 060 12 005
Total equity -1 485 1 415 308 2 027
Total equity and liabilities 8 640 12 033 10 368 14 032
Key ratios
Interest coverage ratio 0,3 2,0 1,3 2,9

12. Group Financials
12
Income Statement, TEUR
2015 2016 Q1 2015 Q1 2016 Q1 2017
Interest income and similar income 19 399 29 540 3 978 6 524 8 454
Interest expense and similar expenses -5 604 -7 128 -1 105 -1 753 -1 886
Net interest income and similar income 13 795 22 412 2 873 4 772 6 568
Net impairment losses on loans and receivables -3 665 -4 621 -1 008 -1 328 -1 451
General admistrative and selling expenses -9 218 -9 608 -2 134 -2 146 -2 449
Other (expense)/income -457 -123 -160 -85 57
Profit before tax 455 8 060 -429 1 213 2 724
Tax -306 -1 247 -56 -190 -200
Net profit 149 6 813 -485 1 022 2 524
Forex -809 -818 -262 -298 866
Total net profit -660 5 995 -747 724 3 390
Net Margin, % -3% 20% -19% 11% 40%
EBITDA 5 528 15 434 586 3 019 4 634
EBITDA Margin, % 28% 52% 15% 46% 55%
Balance Sheet, TEUR
31.12.2015 31.12.2016 31.03.2016 31.03.2017
Loans and advances 57 738 66 417 62 362 73 856
Cash and cash equivalents 781 2 242 2 943 2 414
Other assets 8 454 4 293 3 971 4 731
Total assets 66 973 72 952 69 276 81 001
Loans and borrowings 66 068 55 889 67 147 66 906
Other liabilities 2 755 4 758 3 201 4 414
Total liabilities 68 824 60 647 70 348 71 319
Total equity -1 851 12 305 -1 072 9 682
Total equity and liabilities 66 973 72 952 69 276 81 001
Key ratios
Interest coverage ratio 1,1 2,1 1,7 2,4

13. Thank you
for your attention!
Contacts
Address: Skanstes 50, Riga, LV-1013
Phone: +371 66900900
Home page: www.mogofinance.com
Contact person
Māris Kreics, Group CFO
Phone: +371 6690 0904
E-mail: maris.kreics@mogofinance.com