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Phunware Enters Agreement with Endpoint IP to Monetize Mobile Patent Portfolio

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Today Phunware, Inc. (NASDAQ:PHUN), a fully-integrated enterprise cloud
platform for mobile that provides products, solutions, data and services
for brands worldwide, announced a commercial agreement with Endpoint IP,
an agency combining intellectual property transaction and law firm
expertise with capital investment to monetize intellectual property for
brands.

The agreement, which was formally executed on April 2, establishes
Endpoint IP as a global agency partner of note to license Phunware's
portfolio of mobile technology patents to new companies, distribution
partners and third parties for use in their products and solutions. It
will also provide advisory services to the company around intellectual
property licensing and enforcement as part of the ongoing engagement.

"We're thrilled to work with Endpoint IP to bring Phunware's mobile
innovations and technologies to a broader worldwide audience via new
partnerships and revenue streams," said EVP of Corporate Development
Tushar Patel. "Endpoint is recognized as a leader in intellectual
property management, with extensive experience and global connections
that will benefit our patent portfolio and we expect will be lucrative
among forward-thinking brands focused on mobile."

Phunware's portfolio of intellectual property currently includes 16 U.S.
issued patents and 6 pending patent applications, with its most recent
award announced last week under U.S. Patent No. 10,254,378, entitled
"Mobile Device Localization Based on Relative Received Signal Strength
Indicators."

"Phunware brings an impressive portfolio of innovative software and
technologies, as well as a decade-long history of future-focused mobile
application development ethos to the highly competitive mobile
landscape," said Endpoint IP Founder and CEO Jonathan Szarzynski. "We
look forward to telling their story and connecting their patents to
partners of similar commitment to innovation across industries."

For a full list of Phunware's awarded and pending patents, visit
investors.phunware.com/faq.

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 Annual Report on Form 10-K filed with the
SEC, as updated from time to time by the Quarterly Reports on Form 10-Q.
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"
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 Endpoint IP:

Endpoint IP is a leading intellectual property advisory firm that works
with companies to deliver a return on innovation. Founded by patent
professionals, Endpoint helps buy, sell, license, enforce, develop and
commercialize IP rights. Our goal is to deliver revenue to innovators,
offering a transparent and streamlined process to companies maximizing
the benefits of IP ownership.

Phunware, Inc. (NASDAQ:PHUN) - Everything You Need to Succeed on
Mobile:

Phunware 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 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 www.phunware.com,
www.phuncoin.com
and follow @phunware and @phuncoin on all social media platforms.

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