AST SpaceMobile CEO Enters Personal Financial Transaction

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The transaction, representing approximately 3.2% of Mr. Avellan's holdings, involves up to 2.5 million shares of the company's Class A common stock and was approved by the company's Board of Directors. This non-dilutive transaction reflects Mr. Avellan's confidence in the company's prospects and does not affect his voting rights or position as a long-term shareholder.

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About Ast Spacemobile Inc.

Ast Spacemobile Inc. is an innovative telecommunications company focused on transforming mobile connectivity through satellite technology. The company's primary mission is to develop and deploy the first and only space-based cellular broadband network directly accessible by standard mobile phones. This groundbreaking initiative aims to eliminate connectivity gaps in remote and underserved areas worldwide, significantly enhancing global communication networks. Ast Spacemobile Inc. is crucial to sectors like remote communications, emergency services, and developing markets where traditional cellular infrastructure is challenging to implement. With its headquarters in Midland, Texas, the company is at the forefront of marrying terrestrial mobile networks with satellite solutions, marking a significant shift in how broad-area coverage can be achieved. Their endeavor represents a pivotal advancement in the telecommunications industry, likely impacting global connectivity dynamics by extending the reach of mobile network operators beyond conventional terrestrial limitations.