Seasoned Finance Executive and Strategic Technology Advisor to

Guide Board Strategy Technology and Customer Initiatives

AUSTIN, Texas, Dec. 23, 2025 (GLOBE NEWSWIRE) -- Phunware, Inc. ("Phunware" or the "Company") (NASDAQ:PHUN), the enterprise cloud platform for mobile that provides products, solutions, data, and services for brands to engage, manage and monetize global audiences, today announced the election of Ed Lu to the Company's Board of Directors at the Company's Annual Meeting of Stockholders held on December 17, 2025. Phunware also today announced the re-election of Interim Chief Executive Officer Jeremy Krol to the Company's Board of Directors, after having joined the Board in October 2025.

Ed Lu brings financial, strategic and operational leadership experience to Phunware, including over 14 years of service as Chief Financial Officer and similar roles in companies backed by venture capital and private equity. Mr. Lu's expertise includes finance, accounting, risk management, corporate development and capital markets. Mr. Lu currently serves as the Chief Financial Officer and Chief Operating Officer of Fandom, Inc., with oversight over all financial, planning, accounting and corporate development functions since joining Fandom in October 2018. Mr. Lu has also served as a director of Outpost Games and as a board advisor and strategic advisor across several early to mid-stage companies.

Mr. Lu holds a B.A. in Economics from the University of California, Berkeley and an M.S. in Management Science & Engineering with a concentration in Entrepreneurial Finance and Strategy from Stanford University.

"Ed brings a strong background in finance and operations, and expertise in guiding technology companies through periods of strategic and financial transformation, to our board of directors," said Elliot Han, Phunware Board Chairperson. "Ed is known for his ability to drive hypergrowth and build scalable organizations, and has extensive experience with M&A and capital markets transactions. He is also a thought leader within the finance community. We welcome him to the Board and look forward to his insights and contributions to help create sustainable, long-term value for Phunware and its shareholders."

About Phunware

Phunware, Inc. (NASDAQ:PHUN) is an enterprise software company specializing in mobile app solutions with integrated intelligent capabilities. We provide businesses with the tools to create, implement, and manage custom mobile applications, analytics, digital advertising, and location-based services. Phunware is transforming mobile engagement by delivering scalable, personalized, and data-driven mobile app experiences.

Phunware's mission is to achieve unparalleled connectivity and monetization through the widespread adoption of Phunware mobile technologies, leveraging brands, consumers, partners, and market participants. Phunware is poised to expand its software products and services audience through new generative AI products and product enhancements which are in development, utilize and monetize its patents and other intellectual property, and focus on serving its enterprise customers and partners.

For more information on Phunware, please visit www.phunware.com.

Safe Harbor / 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," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "will," and similar expressions are intended to identify forward-looking statements. For example, Phunware uses forward-looking statements when it discusses the adoption and impact of emerging technologies and their use across mobile engagement platforms.

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. These forward-looking statements involve risks, uncertainties, and other assumptions that may cause actual results to differ materially from those expressed or implied. These risks and uncertainties include, but are not limited to, those factors described under the heading "Risk Factors" in our filings with the SEC. We undertake no obligation to update any forward-looking statements.

By their nature, forward-looking statements involve risks and uncertainties. We caution you that forward-looking statements are not guarantees of future performance and that our actual results may differ materially from those expressed or implied by these forward-looking statements.

Investor Relations Contact:

Chris Tyson, Executive Vice President

MZ Group - MZ North America

949-491-8235

PHUN@mzgroup.us

www.mzgroup.us

Phunware Media Contact:

Joe McGurk, Managing Director

917-259-6895

PHUN@mzgroup.us

Phunware Announces Election of Ed Lu to the Board of Directors