AST SpaceMobile, Inc.

Good day and thank you for standing by. Welcome to AST SpaceMobile's first quarter 2026 business update. Please be advised that today's call is being recorded. I will now turn the conference over to Max Colbert, Investor Relations Manager of AST SpaceMobile. Thank you. You may begin.

Thank you and good afternoon, everyone. Today, I'm also joined by Chairman and CEO, Abel Avalon, President Scott Wisniewski, and CFO and Chief Legal Officer, Andy Johnson. Let me refer you to slide two of the presentation, which contains our safe harbor disclaimer. During today's call, we may make certain forward-looking statements. These statements are based on current expectations and assumptions, and as a result, are subject to risks and uncertainties. Many factors could cause actual events to differ materially from the forward-looking statements on this call. For more information about these risks and uncertainties, please refer to the risk factors section of AST Space Mobile's annual report on Form 10-K for the year-end December 31, 2025, with the Securities and Exchange Commission and other documents filed by AST Space Mobile with the SEC from time to time. Also, after our initial remarks, we will be starting our Q&A section with questions submitted in advance by our shareholders. For those of you who may be new to our company and mission, there are nearly 6 billion mobile phones today around the world, but many of us still experience gaps in coverage as we live, work, and travel. Additionally, there are billions of people without cellular broadband and who remain unconnected to the global economy. The markets we are pursuing at AST Space Mobile are massive, and the problem we are solving is important and touches nearly all of us. In this backdrop, AST Space Mobile is building the first and only global cellular broadband network in space to operate directly with everyday, unmodified mobile devices, supported by our extensive IP and patent portfolio. It is now my pleasure to pass this over to Chairman and CEO, Abel Avalon, who will go through our activities since our last public update.

Thank you, Max. ST Space Mobile's start to 2026 reflects our progress in scaling manufacturing and production, mobile network operator partner expansion, ground network integration, multi-partner launch, and a fortress capital position. This advancement across nearly all initiatives helps solidify why ST Space Mobile is the only company whose technology is positioned to capture the direct-to-device cellular broadband opportunity in full. We continue to execute on key business objectives at the company, transitioning from R&D stage to fully scale operational deployment. On the manufacturing front, we have over half a million square feet of manufacturing and operations space globally as we continue to scale our manufacturing effort. We're in advanced stages of producing and assembly through Bluebird 33. We face a race completed through Bluebird 28. A detailed cadence of our 25 and 26 deployment plan is shown in the accompanying quarterly presentation found on our IR website. Our 95% vertically integrated manufacturing strategy is a significant long-term advantage with our manufacturing team ramping up significantly over the past several quarters. I am thrilled to report that the leadership we have in place is now producing microns phase arrays, stackable satellite composites structure, added accelerating phase to support our target cadence of six fully assembly satellites per month. Our custom ASIC is designed to support up to 10 GHz of processing bandwidth per satellite and is expected to nearly double the peak data speed recently achieved using our on-orbit Block 1 Bluebird satellites. helping unlock true space-based cellular functionality and enabling native cellular capabilities that consumers now expect everywhere, all the time. As a reminder, we're building the largest space array in low Earth orbit. We possess the ability to deploy significant power to orbit at a meaningful scale and competitive cost. This gives us an ample opportunity to scale our space-based cellular broadband constellation based on demand signals from our growing list of partners. That is a unique, important concept for the direct-to-device industry with even broader implications as space becomes an energy-rich and data-native industrial environment. We continue to leverage these advantages by driving innovation into every aspect of our satellite capabilities. We are deploying specific AI technologies edge computing and AI spectrum management features for on-orbit capabilities to incorporate into novel AI platforms and maximize user experience. We currently expect to integrate these features into our next-generation Bluebird satellites, targeting Bluebirds in production by year-end. provider orbital launch strategy feature orbital launch aboard Blue Origin, SpaceX, and others. As a reflection of our multi-partner launch strategy, we are returning to the launch pad at the Cape Canaveral in mid-June with Bluebirds 8, 9, and 10 aboard a Falcon 9 launch vehicle. We are excited to get back to the launch pad very soon and are targeting approximately 45 satellites in orbit by year end. through a combination of our launch providers. Our ground-based gateway architecture acts as a native extension of our network operator partners, interfacing directly with Nokia, InnoVis, and MNO cores, over standard 3GPP protocols. This means our gateway architecture and our satellite network scales natively with 4G, 5G, and future 6G standards, reducing network integration complexity. We're actively scaling our ground network integration efforts around the world, including in the United States, Canada, United Kingdom, India, Brazil, Spain, Germany, France, Romania, Saudi Arabia, Japan, New Zealand, the Philippines, Côte d'Ivoire, Kenya, Nigeria, and Senegal, targeting a combined population of 2.9 billion people. It is an incredible feat to scale our business outside of the United States, an effort which requires significant scale and commitment from our company, our partners, and global regulators. We continue to make progress on partner and ecosystem network integration as we move closer to service activation in key partner markets. We're actively deploying hundreds of fixed sales per week As part of this effort, we achieved satellite-to-satellite cellular broadband connectivity handoff without disrupting to the connectivity experience on the smartphones. Additionally, we recently achieved big data speed of an incredible 98.9 megabits per second using our in-orbit block one satellites. This latest record shows was conducted over international waters directly to unmodified, off-the-shelf smartphones. This achievement is significant for several reasons. It further validates that our satellite technology is the only one specifically designed for space-based, direct-to-device cellular broadband, achieving these speeds that our partners expect for the customer no matter where they are located, everywhere in the planet. And we're just getting started. We expect our on-orbit Block 2 Bluebird satellite to nearly double the peak data speed recently achieved using our on-orbit Block 1 Bluebird satellite, when enabled with enough spectrum on a region-by-region basis. AS Display Mobile is a mobile network operator partner of choice. for space-based cellular broadband because our band-pipe system integration solution works natively with existing terrestrial infrastructure and is designed to support space-based cellular broadband connectivity. Our ecosystem includes nearly 60 global MNO partners covering over 3 billion subscribers, including key partners like AT&T, Verizon, Vodafone, Rakuten, STC, Bell Canada, and Telus. Our commercial advancements have enabled us to secure over $1.2 billion in contracted revenue commitments from our commercial partners, and we plan to accelerate this as we further deploy our network. On the regulatory front, we are granted FCC authorization to operate our Blue Bear satellite constellation commercially in the United States. enabling direct-to-device connectivity in the U.S. on premium low-band spectrum in coordination with our partners Verizon, AT&T, and FirstNet. The grant also reflects the FCC's recognition of our ability to deliver direct-to-device cellular robot connectivity from space and operate alongside terrestrial communication networks, further validating our unique technology and network design. We thank the current administration, the FCC, and Commissioner Carr for his leadership in bringing new technologies online to advise United States leadership in space. Our comprehensive spectrum strategy leverage our satellite technology, which is capable of tuning within approximately 1100 megahertz of low band and mid band tunable MNO spectrum globally, including 45 megahertz of MSF lower mid band spectrum, and 60 MHz of licensed S-band spectrum priority rights outside of North America. In particular, the 45 MHz of L-band spectrum is currently unused, providing us with an ample opportunity to drive business against the use of that spectrum. Additionally, the lower mid-band L-band spectrum features higher quality propagation characteristics when compared to other MSS frequencies. This means more opportunities to grow subscriber capacity and bring additional service to targeted markets around the world alongside our MNO partners. We expect the combination of our satellite technology, featuring the largest space array in loaded orbits, and access to MNO shared spectrum, MSS spectrum, and AI spectrum management features will enable us to effectively multiply spectrum efficiencies and develop a completely new layer of connectivity on a global scale. The combination of building a native space-based cellular broadband network with our partner-first integration design is second to none. were supported by our extensive IP and patent portfolio of approximately 3,900 patents and patent pending claims, and we successfully advanced from early stage R&D to scale deployment of satellites and ground-based gateways. In closing, our company had key assets, including IP, manufacturing, partnerships, spectrum, and balance sheet cash with approximately $3.5 billion to build and launch over 100 Bluebird satellites to enable global coverage of space mobile service. Our team is focused, disciplined, and executing against our deployment plan. We are encouraged by the progress we are making and the momentum we see across our commercial, regulatory, and government initiatives. And with that, I will turn the call back to Scott.