Phunware Knowledge Graph and Data Exchange Yield Strong Results for Ten Million User Mobile Application Portfolio

Phunware, Inc. (NASDAQ: PHUN) (the "Company”), a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands worldwide, today announced results of Audience Building and Audience Engagement initiatives specific to brand awareness and free-to-paid subscription conversions unique to a premium consumer mobile application portfolio of more than 10 million consumers worldwide.

Phunware is known for its Multiscreen-as-a-Service (MaaS) platform because it helps the world’s leading brands leverage native mobile applications to better engage, manage and monetize their customers. Within MaaS, Phunware Audiences leverages both our Knowledge Graph and Data Exchange to help brands more easily drive awareness through data-enriched media initiatives that not only grow their brand and mobile user base, but also better engage and monetize their existing customers.

"Phunware’s Data Ontology is the core to a powerful, modern data platform that provides real-time intelligence for brands, marketers and media buyers to better understand their mobile app users, to more effectively engage and acquire new customers and to better create more compelling user experiences and journeys on a one-to-one basis,” said Luan Dang, CTO and Co-Founder of Phunware. "We are extremely proud to share results like this that highlight just how effective we are at building highly-targeted mobile audiences, delivering optimized indoor-outdoor marketing in real-time and measuring both media and advertising effectiveness at scale globally with full transparency and auditability.”

The comprehensive, three-month initiative led by Phunware sought to increase mobile app downloads for the brand while simultaneously improving their user retention, maximizing their mobile ad spend and audit efficacy and boosting their App Store rankings. Key results included:

• 101% increase in App Store views
• 25% increase in App Store conversions
• 5.3% increase in downloads
• 3% increase in daily customer retention in month one
• 4% increase in daily customer retention in month two
• 9% increase in daily customer retention in month three

Whether your brand already has a strong mobile presence, or whether your brand needs to establish one, learn more about how Phunware’s MaaS team can help by visiting here.

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By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. We caution you that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and developments in the industry in which we operate may differ materially from those made in or suggested by the forward-looking statements contained in this press release. In addition, even if our results or operations, financial condition and liquidity, and developments in the industry in which we operate are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in subsequent periods.

Safe Harbor Clause and Forward-Looking Statements

This press release includes forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, business strategy and plans, and our objectives for future operations, are forward-looking statements. The words "anticipate,” "believe,” "continue,” "could,” "estimate,” "expect,” "expose,” "intend,” "may,” "might,” "opportunity,” "plan,” "possible,” "potential,” "predict,” "project,” "should,” "will,” "would” and similar expressions that convey uncertainty of future events or outcomes are intended to identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments and their potential effects on us. Future developments affecting us may not be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) and other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described under the heading "Risk Factors” in our filings with the Securities and Exchange Commission (SEC), including our reports on Forms 10-K, 10-Q, 8-K and other filings that we make with the SEC from time to time. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. These risks and others described under "Risk Factors” in our SEC filings may not be exhaustive.

By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. We caution you that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and developments in the industry in which we operate may differ materially from those made in or suggested by the forward-looking statements contained in this press release. In addition, even if our results or operations, financial condition and liquidity, and developments in the industry in which we operate are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in subsequent periods.

About Phunware, Inc.

Everything You Need to Succeed on Mobile — Transforming Digital Human Experience

Phunware, Inc. (NASDAQ: PHUN), is the pioneer of Multiscreen-as-a-Service (MaaS), an award-winning, fully integrated enterprise cloud platform for mobile that provides companies the products, solutions, data and services necessary to engage, manage and monetize their mobile application portfolios and audiences globally at scale. Phunware’s Software Development Kits (SDKs) include location-based services, mobile engagement, content management, messaging, advertising, loyalty (PhunCoin & Phun) and analytics, as well as a mobile application framework of pre-integrated iOS and Android software modules for building in-house or channel-based mobile application and vertical solutions. Phunware helps the world’s most respected brands create category-defining mobile experiences, with more than one billion active devices touching its platform each month. For more information about how Phunware is transforming the way consumers and brands interact with mobile in the virtual and physical worlds, visit https://www.phunware.com, https://www.phuncoin.com, https://www.phuntoken.com, and follow @phunware, @phuncoin and @phuntoken on all social media platforms.

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