The Location permission is required to know your location for internal application functionality that requires it, such as the alert map (Google Maps), lockouts (Valentine One), and alert logging (Valentine One, TMG). Logged alert data is stored in an encrypted database and never leaves your device except as part of a database backup to your Google Drive storage. Your approximate location may be transmitted anonymously and encrypted to a third party if you have enabled functionality that requires it, such as aircraft alerts.
The Modify Phone State permission is required to enable your device's speakerphone in some "phone speaker" use cases.
The optional Read Phone State permission is required only to detect when your device is in a phone call, for improved suppression of alert audio while in a call. No information about a call is ever read, saved, or transmitted.
The optional Record Audio permission is required only for the optional Voice Control feature, and recorded audio is never transmitted to anyone except possibly Google, for the purpose of utilizing Google's Speech Recognizer API. This transmission may be minimized or eliminated by ensuring that the correct offline voice data is installed for your device's language setting.