Luokung Signs Agreement for its First Intelligent Networking Vehicle/Ship Autonomous Driving Project, Marking its Entry into the Intelligent Shipping and Land Transportation Market

BEIJING,July 25,2022 --Luokung Technology Corp. (NASDAQ: LKCO) ("Luokung" or the "Company"),a leading spatial-temporal intelligent big data services company and provider of interactive location-based services ("LBS") and high-definition maps("HD Maps")in China,today announced that it has signed an agreement with the government of Jiujiang District,Wuhu City in Anhui Province for an intelligent networking based vehicle/ship autonomous driving project. Hongdajiutong Technology Development Co.,Ltd.("HDtraffic"),an affiliate of Luokung,is providing comprehensive implementation and commercial promotion for the project,which marks a significant initial step in the Company's active expansion into the new market of intelligent shipping and land transportation that is expected to generate ongoing income for the Company.

This major project has received multimillion of RMB funds from the government. According to the terms of the agreement,Luokungis conducting the research and development of the autonomous driving and driving assistance systems,including hardware and software,for intelligent networking technology of both road vehiclesand ships,supporting the application of autonomous shipping systemsand striveto realize the first domestic open-highway autonomous truck operation projectin China. An integratedship-vehicle-cloud Digital Twin model will be builtin this project,based onWuhu's unique geographical advantages as anational integrated transportation hub with ports onthe Yangtze River,to open up a new intelligent networked business scenario.

Mr. Xuesong Song,Chairman and CEO,stated,"We are excited to be working with the Jiujiang District government on this monumental autonomous driving project. Webelieve thisproject is just thebegining of the intelligent networking technology applicationsin autonomous driving and shipping scenarios. Luokung has signed a long-term cooperation with the local government and actively engages in the commercial implementation based on local business related scenarios. The results achieved fromthisproject will be leveraged to form a mature commercialized business model that has the potential for expansion intothe national market in the future."

About Luokung Technology Corp.

Luokung Technology Corp. is a leading spatial-temporal intelligent big data services company,as well as a leading provider of LBS and HD Maps for various industries in China. Backed by its proprietary technologies and expertise in HD Maps and multi-sourced intelligent spatial-temporal big data,Luokung has established city-level and industry-level holographic spatial-temporal digital twin systems and actively serves industries including smart transportation(autonomous driving,smart highway and vehicle-road collaboration),natural resource asset management (carbon neutral and environmental protection remote sensing data service),and LBS smart industry applications (mobile Internet LBS,smart travel,smart logistics,new infrastructure,smart cities,emergency rescue,among others). The Company routinely provides important updates on its website: https://www.luokung.com.

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CONTACT:

The Company:

Mr. Jay Yu

Chief Financial Officer

Tel: +86-10-6506-5217

Email: ir@luokung.com

Investor Relations:

Ms. Carolyne Sohn

Vice President

The Equity Group Inc.

Tel: 415-568-2255

Email:csohn@equityny.com

Ms. Alice Zhang

Investor Relations Analyst

The Equity Group Inc.

Tel: 212-836-9610

Email: azhang@equityny.com

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