Netherlands Third Quarter Tender

TOMTOMS CHIEF EXECUTIVE OFFICER HAROLD GODDIJNMarket conditions continue to improve and we are pleased that our Automotive business shows robust sequential operational revenue growth.Deal activity was strong despite COVID-19. We are especially excited to announce a multi-year expansion and extension of our Uber contract supplying both maps and traffic. Uber will also become a map editing partner deepening our relationship and enhancing our mapping ecosystem.Research and development remain a priority with further developments to our mapmaking platform connected navigation product and our Maps APIs laying the foundations for future success.OPERATIONAL SUMMARY A multi-year contract extension to provide maps traffic and Maps APIs to UberA new global deal to provide maps navigation and traffic to Maserati A new product launch RoadCheck allowing for safer activation of automated driving functionsFINANCIAL SUMMARY THIRD QUARTER 2020Compared with Q2 20Group revenue increased by 20 Q2 20 124 millionLocation Technology increased by 13 Q2 20 94 millionAutomotive operational revenue increased by 24 to 59 million Q2 20 48 millionFree cash flow is an outflow of 20 million Q2 20 outflow of 54 millionCompared with Q3 19Group revenue decreased by 10 Q3 19 164 millionLocation Technology increased by 9 Q3 19 97 millionAutomotive operational revenue decreased by 33 to 59 million Q3 19 88 millionFree cash flow is an outflow of 20 million Q3 19 inflow of 23 millionNet cash of 346 million Q3 19 393 millionTOMTOMS CHIEF FINANCIAL OFFICER TACO TITULAERSequential operational improvements in car production translated into 24 quarter on quarter revenue growth in Automotive. For Q4 we expect that Automotive operational revenue continues to show strong sequential growth. Full year reported revenue for the Group is expected to be around 530 million.The start of new car lines in Automotive reduced gross margin this quarter. But we expect our gross margin for the full year to be around 80. Free cash flow in the quarter was in line with expectations. Seasonal customer receipts combined with further improvements in Automotive operational revenue will lead to positive free cash flow in Q4 20 of around 30 million. Although there have been notable sales improvements in recent months we feel that the economic circumstances remain too uncertain to resume our share buyback program at the moment.