TomTom Reports Second Quarter 2015 Results

All shares have a par value of €0.20 per share.

In H1 '15 5,349,198 shares were issued following the exercise of share options by employees (H1 '14: 135,700).

7. Share-based compensation

Share-based compensation expenses amounted to €11.7 million in H1 '15 versus €3.7 million in the same period last year. In H1 ’15 a total number of 5,349,198 stock options have been exercised, including 445,250 options exercised by the CFO.

In May 2015, the group granted 1.6 million stock options under the stock option plan of which 435,000 stock options were granted to Management Board members. The purpose of the share-based compensation is to attract and retain management and employees and align the interests of management and eligible employees with those of shareholders, by providing additional incentives to improve the group's performance on a long-term basis.

In addition to the stock option grant, the group also granted new phantom shares to certain groups of employees. The phantom share plan is classified as a cash-settled plan. The plan has a three-year service period as the only vesting condition.

For further information on our share-based compensation, reference is made to note 7 in our 2014 Annual Report.

8. Related party transactions

Refer to note 7 for stock options granted to and exercised by the members of the Management Board during H1 '15.

In the normal course of business, the group receives map development and support services from its associate Cyient Ltd. Such transactions take place at the normal market conditions and the total payments made for these services in H1 '15 amounted to €9.2 million (H1 '14: €9.2 million).

Transactions and balances with other associates are not material and hence are not disclosed.

9. Seasonality

In the 12 months ended June 2015, the group had revenue of €963 million compared with revenue for the 12 months period ending June 2014 of €969 million.

The group’s sales within the Consumer segment are traditionally higher in the second half of the year due to the holiday sales in the fourth quarter and traditionally low sales in the first quarter. This trend has become less apparent in recent years. In the 12 months ended 30 June 2015, Consumer had revenue of €612 million compared with €650 million in the same period ended 30 June 2014.

Other operating segments’ revenue is generally not materially affected by seasonality.

Besides the normal market seasonality, the group revenue can also be affected by new product launches.

10. Commitments and contingent liabilities

In the first half of 2015, there were no material changes to the group’s commitments and contingent liabilities from those disclosed in note 32 of our 2014 Annual Report.

11. Business combinations

H1 '15

In H1 '15, the group acquired the shares of Location Navigation Pty. Ltd. The purchase price from the acquisition was mainly allocated to intangible assets. The acquisition is not deemed material and hence no additional disclosures are included in these interim financial statements.

H1 '14

In H1 '14, the group made two acquisitions. The purchase price from both acquisitions was mainly allocated to intangible assets. The acquisitions are not deemed to be material individually or in the aggregate and as a consequence no additional disclosures are included.

12. Fair value and fair value estimation

The fair values of our monetary assets and liabilities as at 30 June 2015 are estimated to approximate their carrying value. There has been no change in the fair value estimation technique and hierarchy of the input used to measure the financial assets/liabilities carried at fair value through profit or loss compared with the method and hierarchy disclosed in our 2014 Annual Report.

13. Subsequent events

There has been no subsequent event from 30 June 2015 to the date of issue of these consolidated interim financial statements.

- END -

Accounting policies - basis of accounting

The condensed consolidated financial information for the three-month and six-month period ended 30 June 2015 with related comparative information has been prepared using accounting policies which are based on International Financial Reporting Standards (IFRS). Accounting policies and methods of computation followed in the condensed consolidated financial information, for the period ended 30 June 2015, are the same as those followed in the Financial Statements for the year ended 31 December 2014. Further disclosures as required under IFRS for a complete set of consolidated financial statements are not included in the condensed consolidated financial information. The quarterly and interim condensed consolidated information in this press release is unaudited.

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