Company: MOBBW
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001013762-25-003365
Chunk: 146

Company: Mobilicom Ltd
Filing Date: 2025-03-27
Form: 20-F
Item: Item 19
Chunk 146
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,302  
  Balance at December 31, 2024                                                                   ( 72,826                     ( 2,162,530      ( 2,235,356  

F-36

  Mobilicom Limited                               
  Notes to the consolidated financial statements  
  December 31, 2024                               

Note 23. Equity - dividends

There were no dividends paid, recommended
or declared during the years ended December 31, 2024, 2023 and 2022.

Note 24. Equity - share-based compensation and share-based
payment reserve

The Company has adopted a share incentive plan (the “ Plan”)
under which it is authorized to grant options to officers, directors, employees and consultants enabling them to acquire up to5% of the
issued and outstanding common stock of the Company. The options expiration and vesting schedule are as determined by the Board of Directors.
The exercise price of each option granted may not be less than the fair market value of the common shares at the time of grant.

A summary of changes in stock options for the years ended December
31, 2024, 2023 and 2022 is presented below:

                                                   Weighted                      Weighted                  
                                                   average                       average                   
                                                   exercise price                exercise price            
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────
  Balance, January 1, 2022         31,231,701      AUD$                0.10      $                         
  Granted (i)                       7,503,678                          0.05                                
  Expired (ii)                    ( 3,350,000                          0.18                                
  Forfeited (iii)                 ( 5,770,000                          0.08                                
  Balance, December 31, 2022       29,615,379      AUD$                0.09                                
  Granted (iv)                    255,850,000                          0.01                                
  Expired (v)                     ( 3,020,000                          0.12                                
  Forfeited (vi)                  ( 3,525,000                          0.03                                
  Balance, December 31, 2023      278,920,379      AUD$                0.02                                
  Expired (vii)                     ( 900,000                          0.07                          0.05  
  Forfeited (viii)                ( 5,375,