Dear Valued Partner,
Today marks the beginning of an exciting new chapter for Telenav as we announced our intent to become a private company in a transaction that will position
Telenav to continue leading the way for connected, location-based technologies.
Under the terms of the agreement, Telenav will be acquired by V99, Inc.,
a Delaware corporation led by Telenavs Co-Founder, President, and Chief Executive Officer, HP Jin, in a go private transaction. You can read the press release we issued here [INSERT
HYPERLINK].
The transaction is the result of a thoughtful and comprehensive review of value creation opportunities available to Telenav, and will
position Telenav to accelerate its journey towards a connected-car future with smarter, easier and safer innovation. As a private company, we will have the resources and flexibility to continue our growth and
execute on our OEM-centric, connected-car strategy as the market for connected-car capabilities continues to expand.
In terms of next steps, we expect the transaction to close during the first calendar quarter of 2021, subject to customary closing conditions. In the
meantime, it is business as usual at Telenav and we remain focused on delivering for our customers and partners and executing on our business plan. Following close, we will be a privately held company and our shares will no longer trade on any
public market. While our ownership is changing, we intend to continue operating much we do today and we do not expect any changes to how we work with you. We are committed to ensuring this is a seamless transition for all of our stakeholders.
As always, if you have any questions, please continue to reach out to me or another trusted member of the Telenav team.
Thank you for continued support of Telenav. We look forward to working together for many years to come.
Sincerely,
Hassan Wahla
Chief Customer Officer
Forward-Looking Statements
This communication contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements
represent Telenavs expectations or beliefs concerning future events. Words such as could, will, may, assume, forecast, strategy, guidance, outlook,
target, expect, intend, plan, estimate, anticipate, believe or project and similar expressions are used to identify forward-looking statements. Without
limiting the generality of the foregoing, forward-looking statements contained in this communication include Telenavs expectations regarding V99s agreement to acquire Telenav (the Agreement), the terms and conditions of the
Agreement, and the Special Committees actions in respect thereof, including considering all potential strategic alternatives to maximize stockholder value. Forward-looking statements can be affected by assumptions used or known or unknown
risks or uncertainties. Consequently, no forward-looking statements can be guaranteed and actual results may differ materially and adversely from those reflected in the forward-looking statements. Factors that could cause actual results to differ
materially from those indicated in the forward-looking statements include, among others, the failure to obtain the approval of Telenavs stockholders, including a majority of the outstanding shares of the common stock owned by stockholders
other than HP Jin, Samuel Chen and Changbin Wang, and each of their affiliates and related parties, in connection with the proposed transaction; the failure to consummate or delay in consummating the proposed transaction for other reasons; the risk
that a condition to closing of the proposed transaction may not be satisfied or that required financing for the proposed transaction may not be available or may be delayed; the risk that a regulatory approval that may be required for the proposed
transaction is delayed, is not obtained, or is obtained subject to conditions that are not anticipated; (vi) the effect of the proposed transaction on Telenavs business and operating results and impact on the trading price of shares of
Telenavs common stock; the diversion of management time on transaction-related issues. Any forward-looking statement made by Telenav in this communication is based only on information currently available to Telenav and speaks only as of the
date on which it is made. Except as required by applicable law or regulation, Telenav does not assume any obligation to update any such forward-looking statements whether as the result of new developments or otherwise.