AST SpaceMobile, Inc.

Our Company is developing the first global cellular broadband network in space, designed to be directly accessible by everyday smartphones (2G/4G-LTE/5G devices) for commercial use, and for government applications. This SpaceMobile Service aims to deliver cost-effective, high-speed cellular broadband to users outside terrestrial cellular coverage, utilizing existing mobile devices. The service is planned to operate through a constellation of high-powered, large phased-array satellites in Low Earth Orbit (LEO), using low-band and mid-band spectrum controlled by Mobile Network Operators (MNOs). On March 22, 2025, we and our subsidiaries finalized agreements with Ligado Networks LLC and its subsidiaries for mid-band spectrum usage rights, approved by the United States Bankruptcy Court for the District of Delaware on June 23, 2025. Ligado's Chapter 11 plan was confirmed by the Bankruptcy Court on or about September 29, 2025. This transaction is expected to provide long-term access to up to 45 MHz of lower mid-band satellite spectrum in the United States and Canada. Additionally, on September 25, 2025, we acquired an entity holding S-Band International Telecommunication Union (ITU) priority rights for Mobile Satellite Services frequencies in the 1980-2010 MHz and 2170-2200 MHz ranges for LEO use, which is expected to add up to 60 MHz of mid-band satellite spectrum globally. We plan to partner with MNOs to offer the SpaceMobile Service to their end-user customers. We currently have partnerships with over 50 MNOs, serving nearly 3 billion subscribers worldwide. Users will not need to subscribe directly to us or purchase new equipment.