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Phun utility token to complement PhunCoin security token, enabling a
late June commercial launch of Phunware’s blockchain-enabled data
exchange and mobile loyalty ecosystem on MaaS

AUSTIN, Texas–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/blockchaintechnology?src=hash” target=”_blank”gt;#blockchaintechnologylt;/agt;–Phunware,
Inc. (NASDAQ: PHUN)
, a fully-integrated enterprise cloud platform
for mobile that provides products, solutions, data and services for
brands worldwide, today announced the introduction of the Phun utility
token (“Phun”) for its Multiscreen
as a Service (MaaS) platform
. The company’s dual token structure for
MaaS ensures PhunCoin
security tokens (“PhunCoin”) remain a regulated store of value, while
Phun utility tokens act as a medium of exchange within the Phunware
ecosystem.

Brands are able to purchase credits on the company’s blockchain-enabled
data exchange to access the curated data in Phunware’s Knowledge
Graph
. Consumers are able to opt-in and engage with brands while
maintaining full control of their digital identity. While PhunCoin
captures the value of data, Phun is used in parallel to facilitate both
ecosystem transactions and data collection.

“PhunCoin is a regulated investment vehicle that is available pursuant
to existing securities regulations in the United States,” said Randall
Crowder, Chief Operating Officer of Phunware. “However, we are excited
to introduce Phun as a new utility token to not only support our
ecosystem’s commercial launch worldwide, but also to enable the
international community to get more actively involved as we drive
towards mainstream adoption beyond our domestic borders.”

PhunCoin security token purchases afford fractional equity interests in
the company’s blockchain-enabled data exchange, including ongoing
monthly PhunCoin dividends to token holders totaling 2.5% of the monthly
credits purchased by Phunware customers based on their respective pro
rata ownership percentage. Token offerings for the United States,
excluding New York residents, have been available via Reg D 506(c) and
Reg CF. The Reg D 506(c) offering remains open to accredited investors,
while the Reg CF offering for accredited and unaccredited investors was
completed earlier this month on Republic
at 350% of plan. Accredited investors can contact the company for more
information about PhunCoin at [email protected],
while both accredited and unaccredited investors outside the United
States can contact the company for more information about Phun at [email protected].

“We want to empower consumers to take control of their digital identity
by decentralizing data and eliminating the need for untrustworthy
intermediaries that continue to defraud brands and consumers alike,”
said Alan S. Knitowski, Co-Founder and Chief Executive Officer of
Phunware. “Personal data is an inalienable human right and we intend to
deliver the benefits and promise of blockchain to the world’s population
through the most important medium of interaction between consumers and
the brands they love – a mobile device.”

A formal announcement of the company’s blockchain-enabled data exchange
and mobile loyalty ecosystem launch will be provided in late June,
including intermediate updates over the next several weeks as new
partnerships and MaaS components are activated in support of these
initiatives.

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), a 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 and rewards (PhunCoin),
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
and follow @phunware and @phuncoin on all social media platforms.

Contacts

PR & Media Inquiries:
Sarah Miller
[email protected]
T:
(310) 276-2220

Investor Relations:
Phunware, Inc.
[email protected]
T:
512 693.4199