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Table of Contents
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
Board of Directors and Stockholders
Telenav, Inc.
We have audited the accompanying consolidated balance sheet of Telenav, Inc. (a Delaware corporation) and subsidiaries (the “Company”)
as of
June 30, 2015, and the related consolidated statements of operations, comprehensive loss, stockholders’
equity, and cash flows for the year ended
June 30, 2015. Our audit of the basic consolidated financial statements included the financial statement schedule listed in the index appearing
under Item 15(a)2. These financial statements and financial statement schedule are the responsibility of the Company’
s management. Our
responsibility is to express an opinion on these financial statements and financial statement schedule based on our audit.
We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards
require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial
statement presentation. We believe that our audit provides a reasonable basis for our opinion.
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Telenav,
Inc. and subsidiaries as of June 30, 2015, and the results of their operations and their cash flows for the year ended June 30, 2015 in conformity
with accounting principles generally accepted in the United States of America. Also in our opinion, the related financial statement schedule,
when considered in relation to the basic consolidated financial statements taken as a whole, presents fairly, in all material respects, the
information set forth therein.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the Company’s
internal control over financial reporting as of June 30, 2015, based on criteria established in the 2013 Internal Control-Integrated Framework
issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO), and our report dated August 24, 2015 expressed
an unqualified opinion.
F-2
/s/ GRANT THORNTON LLP
San Jose, California
August 24, 2015