23 December 2022

MobilityOne Limited

("MobilityOne", the "Company" or the "Group")

Update on UK electronic money institution application

MobilityOne (AIM: MBO), the e-commerce infrastructure payment solutions and platform provider, provide the following update in respect of the Group's proposed expansion of its business in the UK through M-One Tech Limited, the Company's wholly-owned subsidiary.

On 30 September 2022, the Group announced its intention to re-submit in the fourth quarter of 2022 an application to the Financial Conduct Authority (the "FCA"), the financial regulatory body in the UK, for authorisation as an electronic money institution to provide e-money services in the UK (together the "FCA Application").

The Group has made significant progress in respect of the underlying preparatory work in relation to the FCA Application. Notwithstanding this, external personnel availability during the festive period has meant that onboarding the requisite services is taking longer than expected, accordingly, it is now expected that the Group will re-submit the revised FCA Application reflecting the FCA's feedback in the first quarter of 2023.

The Company will release further announcements as and when appropriate.

For further information, please contact:

MobilityOne Limited                                                                         +6 03 89963600

Dato' Hussian A. Rahman, CEO                                                        www.mobilityone.com.my

[email protected]

Allenby Capital Limited

(Nominated Adviser and Broker)                                                        +44 20 3328 5656

Nick Athanas / Vivek Bhardwaj

About the Group:

MobilityOne provides e-commerce infrastructure payment solutions and platforms through its proprietary technology solutions. The Group has developed an end-to-end e-commerce solution which connects various service providers across several industries such as banking, telecommunication and transportation through multiple distribution devices including EDC terminals, mobile devices, automated teller machines ("ATM") and internet banking. The Group's technology platform is flexible, scalable and designed to facilitate cash, debit card and credit card transactions from multiple devices while controlling and monitoring the distribution of different products and services.

For more information, refer to our website at www.mobilityone.com.my