Phunware Announces 2019 Phun Ecosystem Deliveries and 2020 Roadmap

Milestones and Releases Achieved Set Foundation for Commercial Launch

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 completed 2019 milestones and releases for its Phun Ecosystem, including the Company’s 2020 roadmap for commercial launch.

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"We continue to push ahead with our vision of a future in which consumers own, control and are rewarded for the use of their personal data and information," said Matt Lindenberger, EVP of Product and Engineering at Phunware. "To that end, last year we laid the technical foundations of our ecosystem, including critical elements such as self-sovereign identity, customer facing iOS and Android wallet applications, data management and digital asset / blockchain interfaces and the integration of these capabilities into our blockchain-enabled data exchange. We intend to continue this momentum and investment throughout the first half of 2020, culminating in a full commercial launch of our ecosystem later this year."

Ecosystem milestones and releases completed in 2019 include:

  • Consumer facing iOS and Android mobile wallet applications capable of managing digital identity and profile management, personal data management and digital asset (token) capabilities.
  • Integration of a self-sovereign identity solution for issuing and validating signed digital credentials, the first of which consists of Know Your Customer (KYC) credentials containing validated information from the KYC process.
  • Implementation of a Hierarchical Deterministic (HD) wallet capability compatible with BIP 32 / 39 / 44 key management techniques.
  • Interoperability of digital assets and the HD wallet implementation for both Ethereum and Stellar blockchain based digital assets (tokens).
  • Backend administration and processing tools for governance, management and approval of digital asset rewards generated via data usage in the data exchange.
  • Management and accrual of promotional token balances available to end users prior to joining the ecosystem via HD wallets.
  • A Software Development Kit (SDK) that enables application publishers and developers to contribute to and be rewarded for bringing users into the ecosystem.

Our ecosystem roadmap for 2020 includes continued investment and advancement of the consumer facing PhunWallet applications, in addition to enhanced digital asset (token) management capabilities, additional security features such as PIN code security for easy lock and unlock of the applications, backup and restore operations for digital credentials and support for rewards issued for completing surveys. For more information, visit https://www.phunware.com, https://www.phuncoin.com, https://www.phuntoken.com, and follow @phunware, @phuncoin and @phuntoken on all social media platforms.

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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Contacts

PR & Media Inquiries:
Brent Brightwell
bbrightwell@phunware.com
T: (512) 537-8301

Investor Relations:
Brendhan Botkin
bbotkin@phunware.com
T: (512) 394-6837