MIDLAND, Texas – AST SpaceMobile, Inc. ("AST SpaceMobile") (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network designed to be accessible directly by standard mobile phones, today announced the appointment of Sean Wallace as Executive Vice President and Chief Financial Officer. Wallace will assume his new role effective May 10, 2022.

Wallace brings decades of diverse financial experience across emerging markets, capital markets and international telecommunications operations to AST SpaceMobile's executive team. He most recently served as Chief Financial Officer and Treasurer for Cogent Communications, one of the leading internet service providers in the world with operations in 50 countries. In that role, his responsibilities focused on capital raising, evaluating strategic opportunities as well as financial planning and analysis. Wallace is a graduate of Harvard College and Harvard Business School.

"I am honored to join this amazing team and excited to help lead the company through its next phase of growth – with a mission of eliminating the connectivity gaps faced by today's five billion mobile subscribers," said Sean Wallace.

Wallace joins the Company as it prepares for the planned summer 2022 launch of BlueWalker 3, its test satellite with an aperture of 693 square feet that is designed to communicate directly with cell phones via 3GPP standard frequencies. Wallace replaces Tom Severson, following his planned retirement.

"Sean is a strong addition to the company," said AST SpaceMobile Founder, Chairman and CEO Abel Avellan. "I'm extremely proud to add Sean to our executive management team. Finding Sean was part of a careful long search that allowed our current CFO, Tom Severson, the opportunity to retire at this time. We are incredibly grateful to Tom for his years of service and his contributions to the company."

Additional Information on Sean Wallace

Sean Wallace most recently served as Vice President, Chief Financial Officer and Treasurer for Cogent Communications, a position he has held since May 2020. Wallace has over 30 years of experience in finance, telecom banking and other public company management positions. Wallace was an investor and operator of industrial real estate projects from 2015 to 2020. From 2008 to 2015, he was a senior manager at Standard Chartered Bank, where he led their Corporate Finance and Wholesale Origination efforts on a global basis. In addition, from 1998 to 2007, he worked at J.P. Morgan, where his roles included being Co-Head of their Investment Banking operations in the Asia Pacific region as well as leading their North American Telecom Banking efforts.

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