30 November 2023

Fonix Mobile plc

("Fonix" or the "Company")

Grant of Market Price Options

Fonix Mobile plc (AIM: FNX), the mobile payments and messaging provider, announces that on 30 November 2023 55,000 options were granted over ordinary shares of 0.1p each in Fonix (the "Options") to Michael Foulkes, Chief Financial Officer of the Company (the "CFO"), as well as 159,500 options granted over ordinary shares to other Fonix employees (the "Eligible Employees") in accordance with the Company's Share Option Plan.

The Options have an exercise price of 195.5p, being the closing mid-market price the day before grant.

27,500 of the Options issued to the CFO will vest after 3-years in three equal instalments on 30 November 2026, 30 November 2027 and 30 November 2028 and are also subject to the achievement of certain performance related conditions. The remaining 27,500 Options issued to the CFO, as well as the 159,500 options issued to Eligible Employees vest after 3-years in three equal instalments on 30 November 2026, 30 November 2027 and 30 November 2028. The vesting of all options is contingent on the option holder remaining in continuous employment until each vesting date. The options granted align the CFO and the Eligible Employees with shareholders by incentivising and rewarding the creation of shareholder value over the next 3-5 years.

Following the Company Share Option Plan grants to Eligible Employees including Michael Foulkes, the Company has now issued 1,904,174 options over shares since the Company's admission to the AIM in October 2020, of which 192,797 have subsequently lapsed, 127,557 have been exercised and 1,583,820 remain outstanding. The outstanding options represent 1.58 per cent. of the Company's issued share capital.

Enquiries

Fonix Mobile plc Tel: +44 20 8114 7000

Robert Weisz, CEO

Michael Foulkes, CFO

Cavendish Capital Markets Limited (Nomad and Broker) Tel: +44 20 7220 0500

Jonny Franklin-Adams / Seamus Fricker (Corporate Finance)

Sunila de Silva (ECM)

About Fonix

Founded in 2006, Fonix provides mobile payments and messaging services for clients across media, telecoms, entertainment, enterprise and commerce.

When consumers make payments, they are charged to their mobile phone bill. This service can be used for ticketing, content, cash deposits and donations. Fonix's service works by charging digital payments to the mobile phone bill, either via carrier billing or SMS billing. Fonix also offers messaging solutions.

Based in London, Fonix is a fast growth business driven by blue chip clients such as ITV, Bauer Media, RTÉ, Global Media, Comic Relief and Children in Need to name a few.