13D Filing: Nokomis Capital and Sequans Communications SA ADR (SQNS)

(d) During the last five years, none of the Reporting Persons have been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors).

(e) During the last five years, none of the Reporting Persons have been
a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result of such proceeding, were or are subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating
activities subject to, federal or state securities laws or finding any violation with respect to such laws.

(f) Nokomis Capital is
organized under the laws of the State of Texas. Mr. Hendrickson is a citizen of the United States of America.

As of November 6, 2017, the Nokomis Accounts had
invested $15,183,780 (inclusive of brokerage commissions) in the Common Stock of the Issuer. The source of these funds was the working capital of the Nokomis Accounts.

The Reporting Persons purchased the Common Stock for
the Nokomis Accounts based on the Reporting Persons belief that the Common Stock, when purchased, was undervalued and represented an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities
available to the Reporting Persons, and the availability of Common Stock at prices that would make the purchase or sale of Common Stock desirable, the Reporting Persons may endeavor to increase or decrease their position in the Issuer through, among
other things, the purchase or sale of Common Stock on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Persons may deem advisable.

The Reporting Persons have engaged, and intend to continue to engage, in discussions with the Issuers management and board of directors
(the Board) regarding the composition of the Board and senior management team as well as means to enhance stockholder value, including capital allocation, operational improvements and strategic alternatives.

Effective October 30, 2017, the Issuer amended the terms of the convertible notes issued April 14, 2015 and April 27, 2016 (the
Convertible Notes) to extend by one year the maturities of the Convertible Notes to April 14, 2018 and April 27, 2019, respectively. In addition, the conversion price of the Convertible Notes issued April 27, 2016 was
changed from $2.71 to $2.25. All other terms remain the same as previously reported by the Issuer. Copies of the amendments are attached to the Issuers Form 6-K as Exhibits 99.2, 99.3 and 99.4 filed on
October 31, 2017, and incorporated herein by reference.