12th December 2016

Dear Shareholders EFactor Group Corp.,

Marion and I have received questions about the status of EFactor Group Corp.
from some of you, partially because of rather one-sided communications by one
of the involved.

EFactor Group Corp. was listed on the OTC-QB on 14 th February 2013. Whilst
this is a formal public listing, it was never our intention to stay on that particular
Exchange. Based on many conversations with our retained investment bank,
Maxim, we decided to continue working towards an uplift to the NASDAQ. The
bank insisted on following our activities for a year to see if we managed to fulfill
our forecasts and further the company sufficiently to be admissible to the
exchange. We met with them every month, spoke to their analysts and in general
proved that we were capable of leading the company to a substantial growth.
Maxim decided early 2015 that the time was right to work on the uplift. The first
date indicated by Maxim was July 2015, shortly before the summer holidays.
After that initial proposed date, the bank postponed the actual date a number of
times largely due to market circumstances. Beginning September, late
September and so on frustrating all the more since the communication of such
postponements between the bank and EFactors management team was not
always great.

We finally received the green light in early October 2015 and set a date with the
Maxim to start the roadshow the 15th and 16th October in Amsterdam. During
these two days we held presentations for approx.. 25 shareholders and
prospective shareholders/interested parties with Maxim leading the Roadshow
schedule and discussion. During these presentations, the key question was
obviously timing of the uplift to which the Managing Director of Maxim repeated
answered that it would be latest Friday next week. We continued the Roadshow
on Monday 19th October in New York, meeting both internal parties of Maxim who
would be selling the stock, analysts and other prospective investors. On the
Wednesday of the following week, Maxim came with the astounding
announcement that we would have to abort the roadshow because a NASDAQ
rule had been missed and this would cause a delay of at least 45 days
(December). This from a trusted investment bank that claims to have brought 180
companies to the NASDAQ! In the meantime, we had also appointed two
advisors at the request of Maxim, one team consisting of a former Director of the
NASDAQ and a former director of the NYSE, who would provide the inside track
and help us move the listing through the NASDAQ processes and the other
advisor with indepth market trading knowledge who would keep an eye on the
shareprice.

From these advisors then came the advise the switch our application to the NY
Stock Exchange where, they assured us, we would be listed by year end 2015.
After more high pressure work answering all the necessary questions, filling out
the applications and various meetings with the NYSE which included Maxims
MD, we learnt in January 2016 that they considered our company too early stage
to allow us to list.

This happened on the same day that Marion Freijsen, EFactor Groups COO,
learnt from a specialist that she was seriously ill and should cease all activities
immediately. She handed in her notice to the company on the same day, and
after several discussions with the remaining Board of EFactor Group, and
considering the best course of action for the company, so did I 2 weeks later. We
expected that the new management team of EFactor Group would have sent out
a press release and communication to the shareholders, it was not up to us to do
so any further.

The EFactor Group Board then decided to form a team of 5 individuals, including
Ad Prins, Ruud Smeets and Mark Stanich, already serving on our Board for over
a year who would jointly assume the CEO role I had vacated.

Neither Marion nor myself, have had anything further to do with the management
of EFactor nor the proposed uplift from that moment (1 st February 2016) onwards
although we each continue to be shareholders and are owed substantial sums of
expenses we made on behalf of the company.

What we could see subsequently as these were publically filed is that many
of the other board members resigned from the company. Although you can
equally see in the State of Nevada Business Register which lists all the directors
of a public company listed in the State Nevada, that most of them continue to
serve as directors today.
Then a short word about Mark (Manoj) Nathwani, who in the past has proven that
anytime he did not get his way, he would explode and hurl insults and false
accusations at whomever he could. In this light, he submitted a frivolous case
with the SEC in 2014 which was investigated by the SEC itself. After our
responses to each of his accusations, the SEC decided that the allegations were
unfounded and untruthful and closed the case. At that time, Mark also received a
writing from our lawyers in which he was informed to desist from damaging the
company and/or its officers any further.

Since a few months, we (Marion, myself and a number of large shareholders)

have been working on a case against Maxim on behalf of all EFactor
Shareholders. You shall receive a further correspondence regarding this case
from our laywer during the coming week.

Lastly some of you have asked us if we have started a new EFactor. No, we
have not we are working as advisors to some companies, and do business
development for a handful of businesses with which we earn a living. A totally
different activity then building a social network for entrepreneurs.

I hope to have given you some clarity with this writing.