Press release

Iteris Announces Launch of Public Offering of Common Stock

Sponsored by Businesswire

. (NASDAQ: ITI), the global leader in applied informatics for
transportation and agriculture, today announced the launch of an
underwritten registered public offering of shares of its common stock.

Iteris expects to grant the underwriters a 30-day option to purchase up
to an additional 15% of the shares of its common stock sold in the
proposed offering. All shares of common stock to be sold in the proposed
offering will be offered by Iteris. The proposed offering is subject to
market and other conditions, and there can be no assurance as to whether
or when the offering may be completed, or as to the actual size or terms
of the offering. Iteris intends to use the net proceeds from the
offering to fund the cash purchase price for a planned acquisition and
for general corporate purposes, including possible additional future

B. Riley FBR, Inc. is acting as sole bookrunner for the
offering. Northland Securities, Inc. is acting as lead manager for the
offering. Co-managers will be Craig Hallum Capital Group and Dougherty &
Company LLC.

The proposed offering is being made pursuant to the Company’s shelf
registration statement on Form S-3 (File No. 333-220305) that was
declared effective by the Securities and Exchange Commission (“SEC”) on
September 21, 2017. The shares may be offered only by means of a
prospectus. A preliminary prospectus supplement describing the terms of
the proposed offering and the accompanying base prospectus will be filed
with the SEC and will be available on the SEC’s website located at
Alternatively, copies of the preliminary prospectus supplement and
accompanying prospectus relating to the proposed offering, when
available, may be obtained from B. Riley FBR, Inc., Attention:
Prospectus Department, 1300 17th St. North, Ste. 1300, Arlington, VA
22209, or by email at,
or by telephone at (800) 846-5050. The final terms of the proposed
offering will be disclosed in a final prospectus supplement to be filed
with the SEC.

This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of, these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or

About Iteris, Inc.

Iteris is the global leader in applied informatics for transportation
and agriculture, turning big data into big breakthrough solutions. We
collect, aggregate and analyze data on traffic, roads, weather, water,
soil and crops to generate precise informatics that lead to safer
transportation and smarter farming. Municipalities, government agencies,
crop science companies, farmers and agronomists around the world use our
solutions to make roads safer and travel more efficient, as well as
farmlands more sustainable, healthy and productive. Visit
for more information and join the conversation on Twitter,
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Iteris Forward-Looking Statements

This release may contain forward-looking statements, which speak only as
of the date hereof and are based upon our current expectations and the
information available to us at this time. Words such as “believes,”
“anticipates,” “expects,” “intends,” “plans,” “seeks,” “estimates,”
“may,” “should,” “will,” “can,” and variations of these words or similar
expressions are intended to identify forward-looking statements. These
statements include, but are not limited to, statements about Iteris’
public offering, intended use of proceeds of the offering, a planned
acquisition and possible future acquisitions by Iteris, and other future
expectations, plans, strategies and prospects. Such statements are not
guarantees of future performance and are subject to certain risks,
uncertainties, and assumptions that are difficult to predict, and actual
results could differ materially and adversely from those expressed in
any forward-looking statements as a result of various factors.

Important factors that may cause such a difference include, but are not
limited to, uncertainties related to market conditions and the
completion of the public offering; Iteris’ future business development,
financial condition and results of operations; competition in the
transportation and agriculture markets; and Iteris’ ability to manage
its costs and expenses. Further information on Iteris, Inc., including
additional risk factors that may affect our forward looking statements,
is contained in our Annual Report on Form 10-K for the fiscal year ended
March 31, 2019, the prospectus supplement related to the public
offering, our Current Reports on Form 8-K, and our other SEC filings
that are available through the SEC’s website (