Telenav Reaches Agreement With Nokomis Capital

Telenav®, Inc.

, a leader in location-based platform services, today announced that it reached an agreement with Nokomis Capital pursuant to which the Board appointed Richard L. Todaro to its Board of Directors. "We are pleased to welcome Richard Todaro as a new independent director to the Telenav Board," said HP Jin, chairman and CEO of Telenav. "Richard is a distinguished finance executive who will add valuable experience and perspective to the Board. We look forward to benefitting from his perspective as we continue to execute on our growth strategies and create value for shareholders." Mr. Todaro said, "I am pleased to be joining Telenav's Board at an exciting time for the company, with its recent announcement of a strategic partnership with Toyota, now navigation solutions provider to three of the top-five global auto OEMs. I look forward to working with the rest of the Board and management team to continue to effectively position the company for the many opportunities in the auto market and enhance value for shareholders." Mr. Todaro will join the Board as a Class I director, with a term expiring at the 2016 Annual Meeting of Stockholders. In connection with today's announcement, Telenav has entered into an agreement with Nokomis Capital, L.L.C. ("Nokomis"), which owns approximately 9.1% of Telenav's outstanding shares. Under the terms of the agreement, Telenav agreed to welcome Mr. Todaro to the Telenav Board and Nokomis has agreed to customary standstill and voting commitments. The complete agreement will be included as an exhibit to the Company's Current Report on Form 8-K to be filed with the Securities and Exchange Commission.