Press release

MOGU Inc. Announces Share Repurchase Program

Sponsored by Businesswire

MOGU Inc. (NYSE: MOGU) (“MOGU” or the “Company”), a leading online
fashion and lifestyle destination in China, today announced that its
board of directors has authorized a share repurchase program under which
the Company may repurchase up to US$15 million of its shares over the
next 12 months.

The Company’s proposed repurchases may be made from time to time on the
open market at prevailing market prices. The timing and extent of any
purchases will depend upon market conditions, the trading price of the
Company’s ADSs and other factors, and are subject to the restrictions
relating to volume, price and timing under applicable law. MOGU expects
to implement this share repurchase program in a manner consistent with
market conditions and the interests of the Company’s shareholders.
MOGU’s board of directors will review the share repurchase program
periodically, and may authorize adjustment of its terms and size
accordingly. MOGU plans to fund repurchases made under this program from
its available cash balance.

About MOGU Inc.

MOGU Inc. (NYSE: MOGU) is a leading online fashion and lifestyle
destination in China. MOGU provides young people with a more accessible
and enjoyable shopping experience for everyday fashion, particularly as
they increasingly live their lives online. Through innovative use of
content, MOGU’s platform provides a vibrant and dynamic community for
people to discover and share the latest fashion trends with others, and
offers users a truly comprehensive shopping experience.

For more information on MOGU, please visit: