NEWSLETTER MARCH 2016

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1 INVESTORS NEWSLETTER We are pleased to issue our March 2016 newsletter. In it, you ll find information about the ongoing progress on market development, IT development, corporate development, general company updates, and the future trends in aligning PREGO as a trusted payment and e-money provider across South East Asia, Europe and other global markets. Business operations in Nordic and EU PREGO is preparing to make its bid in the forthcoming tender process for three-year contracts to provide pay-roll and payment services for refugee and asylum seekers, both for UDI, Norway and Immigration Authorities in Sweden. We have established a dialogue with both Governments to ensure we have the capabilities to make the bid. The bid announcement is expected prior to Easter holiday. Over the last 3 months of 2015 we achieved positive market acceptance of our current Pay2Go prepaid card product as a welcome and effective payment mechanism for refugees, and we have gained more experience and built valuable expertise in understanding this segment. We expect to market these solutions in order to leverage opportunities elsewhere during Similarly, we are positioning ourselves to leverage our expertise in the combined payment and payroll sector in order to enter new regions and countries in the EU. The Norwegian operation has successfully reached a point in early 2016 where we can see strong potential from our sales and marketing efforts throughout 2015, and demonstrate traction on our services in the local market. This should have a positive effect on our cash flow later in this year. We have put into order a new NOK denominated MasterCard program, which will have significant positive impact on the Norwegian market, and Norwegian authorities. The new NOK program is expected to be live from end of May Business operations in South East Asia (SEA) One of the crucial steps taken to increase the competitiveness in SEA is the decision to develop customized local products and services. PREGO s business operation is both global and local, with a strong focus on selling and delivering local-provided services. This will assist us in building credibility of our business towards partnering banks and licensing bodies, and obviously attracting customers. Our operation in the Malaysian market has been successful during the early start of 2016 in achieving four new customer contracts which should give an important boost to revenue and contribution throughout We have started the roll out of prepaid cards for the contracts signed in January this year. It is evident that we now can

2 expect positive results and increased traction on current products and services as a result of our marketing through PREGO Malaysia, our local subsidiary which is a part of a local consortium of five partners, has progressed the plan to offer a complete pay-roll and digital ID solution for Malaysian Immigration, through the Home Ministry. We expect to achieve more progress in contracting with the Government during 2016, and further roll out of the first services in late The local team works now more closely with the Government on the development of the solution. In addition to the Malaysian market, PREGO has re-focused our sales and marketing operations in Singapore, to address the market of foreign labor and the vast global shipping industry operations out from Singapore. We are pleased to welcome Alexander Telje, as our contact based in Singapore, managing the region of South East Asia and also as a non-executive director. ADD CV Business operations in other Global Markets PREGO has a market footprint in 10 different markets, mainly in Asia, Nordics and Middle East. We have over the last 2 years slowly developed partner relations in the markets outside of where we have hub offices. During 2015 we started to develop opportunities in the US market and China, through defined partners. For the US market, we have signed a General Agreement with our partner Cash Card LLC, where we anticipate to have a roll out of services in the second half of Cash Card LLC operates from Alaska and other 13 states within USA. The Chinese opportunities are undergoing a development process with our local introducing partners through Sahne Group Hong Kong, whereas negotiations continues with a large Chinese construction and industry group. We expect to achieve the first contract completion within Q2 this year, and start a trial project in Q3/Q PREGO is currently In discussions with global aid organizations, discussing opportunities to provide payment solutions for global refugees under management of the aid organisations. We hope these discussions can lead to a global program, where we can utilize our experience and services available to segments with special needs. Projecting for the future The global Financial Technology (Fin-Tech) sector is extremely dynamic, and we continue to focus on developing new payment solutions, infrastructure and strategies to address opportunities and new markets. We also intend to grow our business capabilities to issue financial instruments and manage customer holdings by acquiring e-money and issuing licenses in targeted regions, and we look forward to sharing these plans with you as they materialize.

3 We aim to present a sneak preview of our new technology concept for the Prego 2.0 strategy in early May, where we will start testing, make presentations and achieve key feedback from the market. The ambition is to have a soft launch of the new services in September this year. Moving forward in 2016, PREGO is poised to deliver a set of new technology and product lines that are affordable, fun to use and will make the payment and remittances simple. The e-money licensing, multi currency setup, mirroring, loyalty partner and micro credit arrangements should enhance the product demand for PREGO in the global market. Alongside this, we continue the close relationship we have developed with Mastercard in Europe and South East Asia, and we are now in the process of signing other strategic partners to strengthen our supply chain and complement our more locally adapted services, to attract users in the markets in which we operate. We will announce these partnerships in due course. Fundraising, Investors and Capital Partners Our company will continue the fundraising process in 2016, and we will explore every opportunity to strengthen the capital base to be able to grow the business going forward, and increase shareholder value. We expect to approach and focus more on professional investors in the coming months through established partners in the capital markets. Initial feedback from professional advisors was very positive towards our 2.0 strategy initiative and we intend to market Prego 2.0 more widely. We believe our ambitions strategy are attractive to the professional investor market, subject to a credible plan to deliver it. This is what our teams are working on over the coming months. For the short term fundraising, we continue to work to ensure we have sufficient working capital and we are working with local fundraising partners in dealing with investors. PREGO issued warrants and options to several investors and partners from late These warrants and options have an expiry date on 31 March 2016 and holders have been sent details for their exercise; but if not received please contact Embrandt directly, on investor@embrandt.com. As we are close to expiry date, and the offer to holders of warrants and options has been circulated in a very affordable and attractive model, those interested must exercise their warrants or options before 31 March Exercise in full of these warrants and options would raise approximately 1 million.

4 Board Composition and Management The Board of Prego International Limited has previously announced that it has moved its board and management control from Guernsey, Channel Islands to Norway. This has now taken place, following the board decision taken at the board meeting on 27 January 2016 in Oslo. The Board has made further appointments on 8 February this year. Dag Sandstå, Managing Director at Tysnes Sparebank and Alexander Telje, previous MD of Tiedemann Tobakk and other FMCG companies and currently our Regional Manager for Asia, were appointed as Non-Executive Directors. Further details regarding both their backgrounds are on our website A brief presentation of Roy Jacobsen, our new Group CEO As we have made significant changes in the management of Prego, we are pleased to give you a snapshot of our new CEO. Roy is a Norwegian, 44 years old and born in Narvik in the northern part of Norway, with his education from the University in Tromsø, holding an MBA degree. He has more than 15 years in executive management with focus on operational and commercial requirements as well as market/business development. His experience rise from all areas of management, but with depth in sales & business development. The areas of business have mainly been technology driven (I.e. mobile payment solutions, online travel agencies and web-services). Roy,s strength spans from strong analytic, strategic and tactical skills, including concept development & implementation, with a proven track record for achieving sales and revenue goals. Further his competences are experienced in business development, leadership, strategies and establishment in new markets. He was previously CEO of EasyPark, a successful online based parking service, which has expanded globally. Roy started in Prego during March 2015 as MD for Norway, and from February 1st. As Group CEO. We wish him all the best luck, taking Prego further in to the future. PREGO going forward Our company has over the last 8 months developed Prego`s original business more into the fin-tech industry, focusing on trend setting mobile based micro banking solutions for global markets. We have over the last months tested this concept towards advisors and specialists in the market, and received strong acceptance and support for the solution.

5 Launch of our new micro banking services later this year, along with a continued growth of the current card business, will enable us to achieve results in Y This again will appetize the capital market and provide more interest in the market and attract more investors. We will during the time ahead of us, keep our investors up to speed on information, and the development of the general business, as well as the new services upcoming. Prego International Limited will soon announce the date for the forthcoming AGM, planned for mid May for which the accounts for the year ended 31 December 2015 with the Chairman s statement will be circulated in advance and will be on our company website. May we, on behalf of Directors and Staff in Prego, wish all our shareholders a very Happy Easter and we look forward to provide further updates on our business, continuing with our newsletters, with the next scheduled for the end of April or Early May Oslo, March PREGO International Limited Ronald Aldor Eriksen Executive Chairman Roy Jacobsen CEO