Financial summary Q2 '15

Revenue of €265 million (Q2 '14: €252 million)
Gross margin of 51% (Q2 '14: 56%)
EBITDA of €28 million (Q2 '14: €37 million)
Net result of €3 million (Q2 '14: €9 million)
Adjusted EPS of €0.05 (Q2 '14: €0.08)
Net cash position of €77 million (Q2 '14: €51 million)
Operational summary Q2 '15

Consumer launched the TomTom Bandit Action Camera
MyDrive portal and apps introduced, connecting best-in-class traffic-dependent routing service to PNDs
Test map data for Highly Automated Driving launched in Metro Detroit
Global agreement with Apple for maps and related information renewed and extended
Map footprint extended to Australia with the acquisition of Location Navigation from Sensis
Telematics passes milestone of 500,000 subscribed vehicles
Outlook 2015

Full year outlook re-iterated; Revenue expected of around €1 billion and adjusted EPS1 expected of around €0.20

1Earnings per share adjusted for acquisition-related amortisation on a post-tax basis.

TomTom's Chief Executive Officer, Harold Goddijn
"We reported revenue growth in the second quarter and overall a solid set of results.

Our Consumer business continued to broaden its revenue base with new products in the sports category, and we continued our strong growth path in Telematics and passed the 500,000 subscriptions milestone.

Our Automotive revenue contracted as anticipated, however we continued to book new business at levels which will support a growing business from next year onwards; Licensing delivered double-digit revenue growth in the quarter.

We expect to have fully replaced our map-making system with a transaction-based platform that will enable near real-time maps, in the second half of 2015. With this technological innovation, TomTom is well positioned to address the need for accurate and up-to-date maps, for navigation applications and driver assistance applications, including Highly Automated Driving."

Balance sheet
At the end of the quarter, trade receivables plus other receivables totalled €197 million compared with €180 million at the end of Q2 '14.
The inventory level was €48 million, an increase of €7 million compared with the end of the same quarter last year. Cash and cash
equivalents at the end of the quarter were €122 million versus €226 million at the end of Q2 '14.
Current liabilities excluding deferred revenue were €287 million compared with €370 million at the end of Q2 '14. The year on year
decrease is mainly due to decrease in the current portion of borrowings and provisions, partly offset by increase in the trade payable
balance.
Deferred revenue was €145 million at the end of Q2 '15, compared with €108 million at the end of the same quarter last year. The year
on year increase reflectsthe increasing number of products with lifetime service offerings within Consumer as well as an increased deferred
revenue position related to Automotive contracts with upfront payments.
At 30 June 2015, we reported a net cash position of €77 million (Q2 '14: net cash of €51 million). Net cash is the sum of the cash and
cash equivalents at the end of the period (€122 million) minus the borrowings (€45 million).
Cash flow
The cash flow from operating activities for the quarter was €28 million compared with €33 million in the same quarter last year.
The cash flow used in investing activities during the quarter increased by €17 million year on year to €44 million (Q2 '14: €27 million).
The increase is mainly driven by our recent acquisition of Location Navigation from Sensis in Australia.
In the second quarter, 3.3 million options, related to our long-term employee incentive programmes, were exercised resulting in an €16
million cash inflow.

Semi-annual financial report
Introduction
TomTom NV (the ‘Company’) and its subsidiaries (together referred to as ‘the group’) is the world’s leading provider of location and
navigation solutions. TomTom has 4,200 employees (FTE) working in its offices across all continents. The commercial activities of the
group are carried out through four customer facing business units – Consumer, Automotive, Licensing and Telematics. Consumer generates
revenue mainly from the sale of PNDs, sport watches, maps and related navigation products and services. The Automotive business unit
develops and sells navigation software, services and content, such as maps and traffic, to car manufacturers and their suppliers worldwide.
Licensing generates revenue by licensing digital maps, traffic and other content to a wide range of customers, and Telematics provides
fleet management services and related products to fleet owners.
Market and TomTom outlook 2015
Consumer’s focus is to maximise value from the PND category and establish a multiproduct consumer business. Automotive revenue
development will largely depend on the new car sales and take rates of our customers. Licensing focuses on maximising its revenue via
existing and new customers and broadening of the product portfolio. Telematics is expected to continue to grow organically and where
opportunities arise, pursue some smaller acquisitions.
We are re-iterating our guidance for revenue and adjusted EPS for the full year. We expect revenue to grow to around €1 billion, and
adjusted EPS1
is expected of around €0.20. We now expect the level of investment (both CAPEX and OPEX) in our core technologies to
be modestly higher than last year.
Financial review for the six-month period ended 30 June 2015
In the first half of 2015 the Group generated revenue of €470 million, which is €13 million higher compared with €457 million in the
same period of 2014. The year on year growth in revenue came from strong growth in Telematics and Licensing revenue, partly offset by
lower Automotive and Consumer revenue. Despite the growth in revenue, the Group’s gross margin and operating results were negatively
impacted by the weakening of the euro against the US dollar.
Revenue
Consumer revenue for H1 '15 was €287 million compared with €294 million in H1 ‘14. PND and related content & services revenue slightly
declined year on year but was partly offset for the most part by strong growth in sport revenue. Automotive hardware revenue, which is
included in Consumer since last year, declined year on year mainly due to phasing out of certain customer contracts.
Automotive generated revenue of €50 million in H1 ‘15, down by 17% compared with €60 million in the first half year of 2014 mainly
due to phasing out of certain customer contracts.
Licensing revenue in H1 '14 was €68 million compared with €53 million in H1 ’14. The higher revenue came mainly from additional
customer wins.
Telematics revenue grew year on year by 30% from €51 million in H1 '14 to €66 million in H1 '15. The increase was mainly due to the
growth in the WEBFLEET subscriber base, both organically and through recent acquisitions.
Gross margin
The gross profit for H1 '15 was €244 million, a decrease of €13 million compared with the same period last year. The gross margin in H1
'15 decreased to 52% from 56% in H1 '14 mainly as the result of the weakening of the euro against the US dollar.
Operating expenses
Operating expenses in H1 '15 were €249 million compared with €245 million in H1 '14. The year on year increase was mainly driven by
higher R&D and marketing expenses partly offset by lower amortisation of technology and databases. Operating expenses include a
positive one-off as a result of a litigation settlement, partly offset by higher expenses related to our employee-incentive programmes.
For further information, please visit
www.tomtom.com.

TomTom appoints Taco Titulaer as Chief Financial Officer
Amsterdam, 21 July 2015 – TomTom (TOM2) today announces the appointment of Taco Titulaer (43) as the company’s new Chief Financial Officer, effective as of 1 August 2015.
Taco Titulaer will succeed Marina Wyatt, who is leaving the company at the end of July. He joined TomTom in 2005 and since then has held several management positions in Group Control, Treasury, Mergers & Acquisitions and Investor Relations.

“We are delighted to have appointed Taco Titulaer as the company’s new CFO”, says Harold Goddijn, CEO of TomTom. “Taco is a well-respected leader in our organisation and he knows the company inside out. With his wealth of experience in Finance, M&A and Investor Relations, he is cut out for this job. I have strong confidence that his expertise and thoughtful leadership will further contribute to our growth strategy.”

“We are very pleased that Taco will be moving into the CFO position”, says Peter Wakkie, Chairman of the Supervisory Board. “After conducting a thorough executive selection process that included external and internal candidates, Taco was selected based on his understanding of the company and the market, as well as his extensive financial experience. This is a very important appointment and we are proud to have found the successor within the organisation.”

Taco Titulaer comments: “I am excited and honoured to step into my new role and looking forward to playing my part in our company’s commitment to growth.”

Before joining TomTom, Taco Titulaer, a Dutch national, spent eight years in KPN in various management roles in Finance and Investor Relations. He holds a Master’s degree in Business Economics from the University of Groningen. He is based at the company’s headquarters in Amsterdam, The Netherlands.

Taco Titulaer will be nominated for appointment to TomTom’s Management Board at an Extraordinary General Meeting to be convened in the near future.

Bosch and TomTom partner on innovative mapping technology for automated driving
High-precision maps are essential for highly automated driving
Bosch is using TomTom maps in its automated test vehicles
Freeways and freeway-like roads in Germany to be digitized for automated driving by the end of 2015
Maps for highly automated driving have to be accurate to decimeter precision
Collaboration will result in innovative vehicle positioning concepts
Amsterdam, 21 July 2015 - The development of automated driving is a puzzle with many pieces. Together with the Dutch map and traffic information provider TomTom (TOM2), Bosch is getting closer to the complete picture. The two companies have agreed to collaborate in the area of maps for highly automated driving. Under this agreement, TomTom is designing the necessary maps, while Bosch, on the basis of its systems engineering work, is defining the specifications these maps have to meet. At this moment, the maps are already being used in the automated vehicles Bosch is testing on certain public roads in Germany (A81) and in the United States (I280). Commenting on the importance of this venture, the Bosch board of management member Dr. Dirk Hoheisel says: “Only with high precision maps will automated driving on freeways be possible from 2020.” And Jan Maarten de Vries, Vice President Automotive at TomTom, adds: “By the end of 2015, we want to have new high-precision maps for automated driving for all freeways and freeway-like roads in Germany.” Road coverage will subsequently be extended to the rest of Europe and North America.

Several map layers, significantly increased accuracy

Maps for highly automated driving and the maps used in current navigation systems differ primarily in two respects. First, accuracy is significantly higher – down to decimeter precision. Second, the map material for highly automated driving consists of multiple layers. The traditional base navigation layer is used to calculate routes from A to B, including the sequence of roads to be driven. The localization layer uses a novel positioning concept providing highly accurate map data, which the automated vehicle uses to accurately calculate its position within a lane. To do this, the vehicle compares its sensed environment with the corresponding information in the localization layer. In this way, the vehicle can accurately define its position relative to the road and its surroundings. On top of the localization layer, the planning layer contains not only attributes such as lane divider types, traffic signs, speed limits, etc., but also 3D information about road geometry, including curves and slopes. With the help of this very detailed lane information, the automated vehicle can decide things such as when and how to change lane.

In highly automated driving, safety and comfort depend crucially on map material that is up to date. For example, up-to-the-minute speed-limit information has to be available instantly. Only then can vehicles select the best proactive driving strategy. In this regard, Bosch and TomTom rely on several elements and services to keep the map data up to date: the TomTom mapping fleet will continue to be regularly on the road, accurately mapping new roads and routes. And to register recent changes on the roads, such as changed lane configurations or new traffic signs, TomTom and Bosch plan to use feedback from fleets of vehicles equipped with the necessary sensors. Information about changed road conditions captured this way will be transferred to a server, verified, and entered in the digital map database. The updated map will then be fed back to the highly automated driving vehicle, enabling it to see effectively beyond its sensors.

Extension of existing, successful partnership

For Bosch and TomTom, this collaboration in the area of maps for highly automated driving is an extension of an already existing, successful partnership. For Bosch’s connected horizon, TomTom also provides dynamic map information via their real-time service backend – albeit without any localization layer. In this way, the connected horizon makes it possible to predict the route ahead and adapt driving strategy accordingly. This solution was demonstrated for the first time in 2014, at the IAA Commercial Vehicles trade show in Hanover. The system recognizes potential black spots behind hills, or the start of a traffic jam, at an early stage, and automatically reduces the speed of the vehicle well in time. This considerably reduces the risk of rear-end collisions. In addition, smoother driving behavior means more comfort for the driver and improved fuel efficiency for the vehicle.

- Ends -

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