GlobeNewswire Inc | Nov 22, 2021 08:30AM EST

November 22, 2021

AUSTIN, Texas, Nov. 22, 2021 (GLOBE NEWSWIRE) -- Phunware, Inc. (NASDAQ: PHUN)(the Company), a fully-integratedenterprise cloud platformfor mobile that provides products, solutions, data and services for brands worldwide,announced today it has purchased an additional398bitcoin for approximately $23.8million in cash at an average price of approximately $59,917per bitcoin, inclusive of fees and expenses.

As of November 22, 2021, Phunware holds an aggregate of approximately529bitcoin, which were acquired at an aggregate purchase price of approximately $31.8million and an average purchase price of approximately $60,191per bitcoin, inclusive of fees and expenses.

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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 ExperiencePhunware, Inc. (NASDAQ: PHUN), is the pioneer ofMultiscreen-as-a-Service (MaaS), anaward-winning, fully integrated enterprise cloud platform for mobile that provides companies the products,solutions,dataandservicesnecessary to engage, manage andmonetizetheir mobile application portfolios and audiences globally at scale. PhunwaresSoftware Development Kits (SDKs)includelocation-based services,mobile engagement,content management, messaging, advertising, loyalty (PhunCoin&PhunToken) andanalytics, 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 worlds most respected brands create category-defining mobile experiences, with approximatelyone billion active devices touching its platform each monthwhen operating at scale. For more information about how Phunware is transforming the way consumers and brands interact with mobile in the virtual and physical worlds, visit https://phunware.com, https://phunwallet.com, https://phuncoin.com, https://phuntoken.com, https://lytetechnology.com/and follow @phunware, @phuncoin and @phuntoken on all social media platforms.

Phunware PR & Media Inquiries:press@phunware.comT:(512) 693-4199

Phunware Investor Relations:Matt Glover and John YiGateway Investor RelationsEmail:PHUN@gatewayir.comPhone:(949) 574-3860