Mobilum Technologies : Management Discussion and Analysis

Mobilum Technologies Inc. (Formerly TechX Technologies Inc.)

Management Discussion and Analysis

For the Year Ended February 28, 2022

Date and Presentation

This Management Discussion and Analysis ("MD&A") of financial position and results of operations is prepared as at July XX, 2022and should be read in conjunction with the audited condensed consolidated financial statements ("Consolidated Financial Statements') for the year ended February 28, 2022. These consolidated financial statements have been prepared in accordance with the International Financial Reporting Standard ("IFRS"), as issued by the International Accounting Standards Board ("IASB") and the International Financial Reporting Interpretations Committee ("IFRIC"). These consolidated financial statements havebeen prepared on a historical cost basis except for financial assets at fair value for profit or loss, which are stated at their fair values. In addition, these consolidated financial statements have been prepared using the accrual basis of accounting.

Management is responsible for the preparation and integrity of the consolidated financial statements, including the maintenance of appropriate information systems, procedures, and internal controls. Management is also responsible for ensuring that information disclosed externally, including the consolidated financial statements and MD&A, is complete and reliable.

All dollar amounts included therein and in the following MD&A are expressed in U.S. dollars except where noted. This discussion contains forward-looking statements that involve risks and uncertainties. Such information, although considered to be reasonable by the Company's management at the time of preparation, may prove to be inaccurate and actual results may differ materially from those anticipated in the statements made. Additional information on the Company is available for viewing on SEDAR at www.sedar.com.

General Overview

Mobilum Technologies Inc. (formerly TechX Technologies Inc.) (the "Company") was incorporated on June 11, 2010 under the laws of the Province of British Columbia. The Company trades on the Canadian Securities Exchange ("CSE") under the symbol MBLM (formerly TECX). The head office of the Company is located 700-838 W Hastings Street, Vancouver, BC V6C 0A6. The Company is dedicated to revolutionizing established industries by creating applications with artificial intelligence, compliant digital payment infrastructure and digital asset management technologies. Apart from developing products in prior years, in the year ended on February 28, 2022, the Company significantly restructured its investments and products portfolio through a series of transactions occurring throughout the year.

Highlights:

Update on Covid-19 pandemic impact:

In prior fiscal year, the effect of COVID-19 has had material and significant impact on the Company's operations having been affected by complete shut down in operations, the inability to continue development on its technologies, a downturn in successful business development, the inability to meet operational and technology milestones, and the inability to be compliant in making its required continuous disclosure filings with securities regulatory authorities in a timely manner. At the end of the 2021 fiscal year and in the year ended February 28, 2022 (beginning of the 2022 fiscal year), the Company was successful in raising equity funding and further invest in technologies and development. Currently, the Company and its projects and development are affected to some extend by Covid-19 driven changes, such as general tendency to work vastly remotely. Starting in Q1 2022, the digital nature of the business, a successful financing round and re-branding initiatives enabled the process of implementing the expansion and growth plan (see investment activities between February and July, 2021). The company will continue to monitor, evaluate, and adapt to developments as they unfold.

In April 2021, the Company closed a non-brokered private placement financing for total gross proceeds of CAD $10,000,000.

In April 2021, completed the acquisition of a 19% stake in a CatalyX CTS Ltd for a total of $414,182 cash consideration and the issuance of 15,000,000 commons shares of the Company.

In April 2021, the Company engaged Market IQ Media Group ("MIQ") for a 6-month digital advertising campaign in connection with the Company's ongoing effort to increase awareness. This comprehensive advertising program was designed to build brand familiarity, general recognition, and awareness within online investor content platforms. MIQ will employstate of the art digital advertising, paid distribution, media buying and content creation to execute this important initiative. Under the terms of this agreement, MIQ will provide a combination of strategic digital media services, marketing co-ordination, content production, and data analytics services for a total payment value of $400,000 (CAD)amortized over the 6-month duration of the agreement. As of the date of this report, the entire $400,000 (CAD) had been paid and the campaign is in preparation and planning phase.

In April 2021 the Company signed a Definitive Agreement to acquire the Cryptobuddy.aipredictive cryptocurrency trading signals platform, through its wholly-owned subsidiary, Bull Market Media Inc. In consideration, the Company issued 5,341,880 common shares in the capital of the Company. Subsequently in October 2021, the Company decided to dispose of the subsidiary in order to streamline the operations and maximize the value of the company for the shareholders.

In June 2021, the Company acquired a 100% ownership interest in Xport Digital Limited ("Xport"), a company focused in emerging technologies across growth sectors including: crypto, blockchain, AI and cloud technologies by issuing 5,252,100 common shares. During the subsequent portfolio review conducted by management and the board in October 2021, the Company decided to dispose of the subsidiary in order to direct management's focus to the core operations.

In July 2021 the Company acquired 100% ownership interest in Mobilum OU. Mobilum is a financial technology company and provides a licensed plug-and-playFiat-to-Crypto gateway and payment processing technology solution for exchanges, wallets, brokers, liquidity providers, and the cryptocurrency businesses. The transaction was completed pursuant to a definitive share purchase agreement dated May 26, 2021 by issuing 26,666,667 common shares of the Company.

On July 21, 2021, the Company changed its name from "TechX Technologies Inc." to "Mobilum Technologies Inc." to reflect the adoption of the umbrella brand "Mobilum". The CSE symbol changed from "TECX" to "MBLM".

On July 29, 2021, the Company has signed a Memorandum of Understanding to partner with Matic Network BVI Limited ("Matic") to develop an on-ramp and off-ramp solution for Matic users and developers. Matic is the creator of Polygon, a protocol and a framework for building and connecting Ethereum-compatible blockchain networks.

MD&A - For the Year Ended February 28, 2022

Page 3 of 26

Polygon provides the core components and tools to join the new, borderless economy and society. In addition to the on-ramp solution, Mobilum has developed an off-ramp platform that will be available to the Polygon community to provide a global corridor for crypto-to-fiat microtransactions. Mobilum launched it's hosted on-ramp and off-ramp solution for Matic in October 2021. The solution is now available at https://polygon.mobilum.com

On July 29, 2021, the Company has signed an agreement with Encore Ventures Inc ("Coinstream") to provide fiat-to crypto on-ramp services to its users on goCoinstream.com. Michael Vogel, a strategic advisor of the Company, is also the CEO of Coinstream, however the Company and Coinstream are not considered related parties within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holds in Special Transactions. In the period ending November 2021, both parties agreed to terminate the contract in order to enable the management team to focus core resources of the company on other strategically vital projects.

On August 5, 2021, the Company signed an agreement with ALT 5 Sigma ("ALT 5") to provide fiat-credit-cards-to- crypto on-ramp services to its users on Alt5Coins.com. ALT 5 is a global fintech company that provides next- generation blockchain technologies for digital asset and trading platforms, allowing its clients the ability to buy, sell and hold digital assets in a safe and secure environment deployed with the best practices of the financial industry. Digital asset custodian services are secured by Fireblocks, which has securely transferred roughly $400 billion in digital assets for more than 200 institutional accounts.

On August 19, 2021, the Company entered into the business relationship agreement with BTSE Holdings Limited ("BTSE"), a multi-currency digital assets exchange, to provide fiat-to-cryptoon-ramp services to users on BTSE's trading platform. On December 6, 2021, the Company launched of its fiat-to-cryptoon-ramp widget on the BTSE exchange and JoomAce platforms. Mobilum provides its fast, secure, convenient, and fully FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) compliant on-ramp payment gateway services to BTSE, allowing its platform users to purchase digital assets instantly and securely with credit cards or more than 20 fiat or digital currencies.

In December 2021, the Company engaged FN Media Group to provide news dissemination and campaign awareness services to the Company, which includes ticker tag press release, limited budget of traffic generation initiative, social media coverage and RSS feed to financial publisher's network to follow Company issued press releases. The Company has purchased five (5) campaigns which are expected to begin immediately. Under terms of the agreement, the fee payable to the Services Provider is USD$2,595 per Campaign.

In January 2022, the Company engaged Purple Crown Communications Corp. ("Purple Crown") for investor relations and corporate communications services. In consideration for the services, the Company will pay Purple Crown $20,000 for an initial 3-month term beginning February 1, 2022, which may be extended upon agreeable terms between the parties. Purple Crown does not currently hold any common shares of the Company or share purchase warrants. Purple Crown may acquire securities of Mobilum in the future. There is no commitment in this initial engagement with the Company to issue any shares, options or other securities to Purple Crown. In May 2022 the parties decided to extend the agreement for another 3 months.

In February 2022, the Company has signed a strategic services agreement with Crypto.com to provide token liquidity services using Mobilum's algorithmic trading platform. Mobilum will provide trading research and execution leveraging its algorithmic trading platform to further enhance the exceptional customer experience already provided by Crypto.com. Mobilum will also provide Crypto.com with regular reporting including summaries and statistics of market activity. Mobilum will receive a monthly retainer for the duration of the agreement. Crypto.com has granted Mobilum an interest-free credit line in the amount of USD $2 million collateralized with a $400k security deposit.

In April 2022, the Company entered into the business relationship agreement to provide KEYS Token Inc. ("KEYS Token") with Mobilum's onramp services. One of the core objectives of this project is to make the native utility token, KEYS, more accessible on a global scale by making it a simpler and easier to navigate the process. Users can purchase KEYS Token using VISA and Mastercard credit cards after completing a standard KYC verification process.

In May 2022, the Company entered into the business relationship agreement with ZEN.COM to provide Mobilum's

MD&A - For the Year Ended February 28, 2022

Page 4 of 26

customers with a dedicated virtual International Bank Account (IBAN). ZEN.COM is an international fintech company, with an e-money license issued by the central bank of Lithuania, which provides financial services in 31 European countries. Through this service agreement, ZEN.COM will provide Mobilum with the Euro backend and fulfilment infrastructure to Mobilum's settlement accounts whereby Mobilum can now provide virtual IBAN accounts enabling its clients to transfer funds and remit crypto transactions via SEPA transfer.

Changes in Management and the Board of Directors

In June 2021, the Company appointed Dr. John Henderson, PhD as Chief Operating Officer of the Company. Dr. Henderson's career in institutional equity sales and corporate finance began at PI Financial, Jennings Capital and Intrynsyc Capital. John was responsible for analyzing and financing technology-based venture level companies and it sparked a lifelong pursuit in innovation. In addition to his finance career, John has had an active advisory practice recently assisting corporate development for GTEC Holdings, as well as restructuring global operations for a Canadian health device company. Dr. Henderson earned his PhD identifying and quantifying management best practices using Data Science techniques such as machine learning. In addition to his PhD, John earned a Masters in Business Administration from the University of British Columbia's Sauder School of Business, a Masters in Science in Biological Chemistry from the University of Waterloo along with bachelor degrees in Economics, Biotechnology and Communications. In relation with the appointment, the Company granted 400,000 incentive stock options (the "Options") to Dr. Henderson. The Options are exercisable at CA$0.71 per share for a period of five years from the date of grant and portion is subject to vesting stages.

In July 2021, the Company appointed Wojciech Kaszycki (CEO of Mobilum OU) as a director, and in December 2021 as Chief Executive Officer. Mr. Kaszycki is a pioneer in the area of Ecommerce and Mcommerce solutions and has over 24 years of experience creating and managing innovative technologies. From the beginning of his professional career, he has engaged in the implementation of innovations that change everyday life. Between 1996 and 2001, Kaszycki managed the first Ecommerce agency in Poland, AGS NewMedia, created the first Ecommerce portal in Poland Empik.com (Polish Amazon). Kaszycki is also the Founder and Chairman of BTC Studios, a publicly traded video gaming company on the Warsaw stock exchange.

In October 2021, the Company hired Piotr Majka as Chief Trading Officer to manage and test its infrastructure for cryptocurrency trading operations. Mr Majka is a capital markets expert with over 20 years of broad experience in finance including 15 years as a senior executive for the global and local banks. Mr Majka led a data-driven algorithmic strategies project in order to optimize trading results. Mr Majka conducted beta-testing using real-world simulations before corporate assets were deployed to production. End date of the project was estimated as May 2022 and contract agreement with Mr Majka also expired as of that date.

In December 2021, the Company appointed Heidi Gutte of Lichtenwald Professional Corporation as a Chief Financial Officer. Ms. Gutte specializes in providing corporate finance, financial reporting, consulting, taxation and other accounting services to both small businesses as well as public companies in various industries. Ms. Gutte earned her bachelor's degree of computer engineering from the University of Applied Sciences in Brandenburg, Germany. She holds the professional designation of Chartered Professional Accountant (CPA, CGA), and is a member of Chartered Professional Accountants of B.C. and Canada. Ms. Gutte has had extensive experience as a controller and CFO of numerous publicly traded and private corporations in several industries.

In relation with Ms. Gutte's appointment, the Company granted 200,000 incentive stock options (the "Options") to Lichtenwald Professional Corporation. The Options are exercisable at CA$0.385 per share for a period of five years from the date of grant and portion is subject to vesting stages.

In January 2021, the Company appointed senior leaders in the fin-tech space, Kasha Piquette and Robert Niziol as Directors and Wojciech Kaszycki (CEO) as the Chairman of the Board. In relation with the appointments, the Company granted aggregated 600,000 incentive stock options (the "Options") to the new Directors. The Options are exercisable at CA$0.28 per share for a period of five years from the date of grant and portion is subject to vesting stages. Mobilum Directors Peter Green, Michael Devine, and Aleem Nathwani remain strategic advisors to the new

MD&A - For the Year Ended February 28, 2022

Page 5 of 26