#1ASTSpace Mobile Transforming how the world connects Nasdaq NASDAQ: ASTS Investor Presentation April 2023#22 Forward Looking Statements The information in this presentation and the oral statements made in connection therewith includes "forward-looking statements" for the purposes of federal securities laws that are not historical facts and involve risks and uncertainties that could cause actual results to differ materially from those expected and projected. All statements, other than statements of historical fact in this presentation and the oral statements made in connection therewith regarding AST Space Mobile, Inc.'s, collectively with its subsidiaries ("SpaceMobile" or the "Company"), financial position, business strategy and the plans and objectives of management for future operations, are forward- looking statements. Words such as "expect," "believe," "anticipate," “intend," "estimate," "seek" and variations and similar words and expressions are intended to identify such forward-looking statements. Such forward-looking statements relate to future events or future performance, but reflect management's current beliefs, based on information currently available. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the Risk Factors contained in AST SpaceMobile's Annual Report on Form 10-K, filed with the SEC on March 31, 2023. The Company's securities filings can be accessed on the EDGAR section of the SEC's website at www.sec.gov. Except as expressly required by applicable securities law, the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. Use of Non-GAAP Financial Measures (UNAUDITED) This presentation contains certain non-GAAP measures, including cash operating expense. Cash operating expense is equal to total operating expense less non-cash operating expense such as depreciation and amortization and stock-based compensation expense. The Company believes that these non-GAAP measures, when presented in conjunction with comparable GAAP measures, provide useful information about the Company's operating results and liquidity and enhance the overall ability to assess the Company's financial performance. The Company uses these measures, together with other measures of performance under GAAP, to compare the relative performance of operations in planning, budgeting and reviewing the performance of its business. Industry and Market Data This presentation includes market data and other statistical information from sources believed to be reliable, including independent industry publications, governmental publications or other published independent sources. Although AST Space Mobile believes these sources are reliable, we have not independently verified the information and cannot guarantee its accuracy and completeness. Trademarks and Trade Names AST Space Mobile owns or has rights to various trademarks, service marks and trade names that they use in connection with the operation of their respective businesses. This presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. The use or display of third parties' trademarks, service marks, trade names or products in this presentation is not intended to, and does not imply, a relationship with AST SpaceMobile, or an endorsement or sponsorship by or of AST Space Mobile. Solely for convenience, the trademarks, service marks and trade names referred to in this presentation may appear without the Ⓡ, TM or SM symbols, but such references are not intended to indicate, in any way, that AST Space Mobile will not assert, to the fullest extent under applicable law, their rights or the right of the applicable licensor to these trademarks, service marks and trade names. ASTSpaceMobile ast-science.com#3AST Space Mobile is building the first & only space-based cellular broadband network 3 ast-science.com ASTSpaceMobile Raised ~$725 million to date to fund network build and technology with 2,600+ patent and patent-pending claims Currently testing BlueWalker 3 in- orbit, the largest-ever commercial communications array in LEO P Signed agreements and understandings with 35+ mobile network operators with 2+ billion existing subscribers Funded for production and launch of first phase of commercial satellites to offer initial cellular broadband service#4Transforming connectivity with direct-to-cell technology (5G + LTE) 4 "Eliminating the friction of specialized equipment and spectrum bands from direct- to-cellular satellite coverage, at broadband speeds, is a transformational event for the communications industry" "Not only do we expect to provide essential, affordable broadband connectivity to everyone everywhere, we are working to expand the market to billions of individuals and devices" ast-science.com - Abel Avellan Chairman and CEO ASTSpaceMobile Phones Devices UNMODIFIED Co DIRECT-TO-DEVICE STANDARD • D €) Wearables EXISTING SPECTRUM of loT#5Market opportunity is deep, untapped and expanding Source: GSMA market data as of December 31, 2022. 1. Represents 2023-2030 cumulative estimated demand, per Northern Sky Research. 5 ast-science.com ASTSpaceMobile $1.1 Trillion global mobile wireless services market 5.5 Billion mobile phones and devices moving in and out of coverage ~50% global population without cellular broadband ~90% of Earth's surface without cellular coverage $67 Billion 8-yr expected demand for satellite direct-to- device communications 1#6Mobile Network Operators (MNOS) are investors, partners and customers 6 ast-science.com ASTSpaceMobile When operational, SpaceMobile service will be available to MNOs on a wholesale basis, with existing relationships spanning nearly all large countries (ex. China/Russia) AST SpaceMobile potential coverage Strategic Investors O vodafone A AMERICAN TOWER Rakuten NEXT Bell O vodafone Select MNO Partners MTN AT&T Bell Rakuten Smart africell smartfren. TIM tico etisalat e LIBERTY LATIN AMERICA Indosa ooredoo orange Telefonica TELECOM Telstra Globe zain stc#7BlueWalker 3 Test Satellite ast-science.com B REDE ASTSP Yüb düh alb NUR WHAT Elici SEI T TOHNUD ニュー CAF FEE 688 3#8Critical, unique cellular broadband technology currently deployed in orbit 8 ast-science.com Unfolded - Antenna Side REDE The first and only in-orbit deployment of innovative satellite technology designed for cellular broadband direct to unmodified cell phones Stowed View From Orbit ASTSpaceMobile MOKE ANDN Unfolded-Solar Side#9BlueWalker 3 test satellite update Initial test results indicate downlink signal strength necessary to reach 5G cellular broadband speeds 9 ast-science.com ASTSpaceMobile Satellite Deployment Satellite Flight Control Patented Technology End-to-End Testing ✓ Deployed the largest-ever commercial communications array in low Earth orbit ✓ Proven ability to fly and control BW3 with fully deployed array (693 sq ft) ✓ Validated our patented doppler and delay compensation Targeting to complete cellular broadband speeds direct to standard, unmodified phones 周宜小。#10Vertically integrated manufacturing to support rapid constellation build 10 ast-science.com ASTSpaceMobile We continue to invest in our facilities in Texas and around the world, as we ramp up initial manufacturing and assembly lines for the Block 1 BlueBird satellites Headquarters Site 2 AST Uw JE RAZNO K#11Key future milestones to reach initial space- based cellular broadband commercial service 11 ast-science.com ASTSpaceMobile Joint test results of BlueWalker 3 capabilities with MNO customers and technology partners Manufacturing and assembly of Block 1 BlueBird satellites at our Texas facilities Completion of definitive commercial agreements with initial customers Regulatory approvals in key markets Finalization of Block 2 BlueBird design, including ASIC tape out Launch of 5 Block 1 BlueBird satellites Initial commercial service using Block 1 satellites#12AST Space Mobile differentiation 1. AST SpaceMobile market size based on GSMA Intelligence estimate of total cellular wireless market spend. As of December 31, 2022. 2. Cash and cash equivalents as of December 31, 2022. 12 ast-science.com ASTSpaceMobile 000 O → D $ Only pure play, low Earth orbit (LEO) broadband communications company that is publicly-traded Novel technology solution applicable to a market of 5.5 billion mobile phones and devices and the related $1.1+ trillion TAM 1 Jointly going to market, not competing, with mobile network operators with hundreds of millions of subscribers Revenue share business model designed to allow users to sign up with a simple text message Approximately $239 million cash and cash equivalents to fund business operations and initial production satellites ² 2#13Appendix 13 ast-science.com ASTSpaceMobile#14Company snapshot Founder-led leadership and deep team with decades of successful execution 14 ast-science.com ASTSpaceMobile Global Infrastructure Midland HQ/ Manufacturing Facilities Maryland Satellite Operations and Network Operations Center / Space Assembly Lab Israel RF/Hardware Design Spain Mechanical Design Lithuania Prototyping/ Support United Kingdom Manufacturing/ Support Abel Avellan Chairman and CEO Sean Wallace Chief Financial Officer Scott Wisniewski Chief Strategy Officer Brian Heller General Counsel and Secretary Chris Ivory Chief Commercial Officer Dr. Huiwen Yao Chief Technology Officer Dr. Ray Sedwick Chief Space Scientist . . 25+ years space industry experience Co-inventor of 21 U.S. Patents Former Founder and CEO of EMC (Emerging Markets Comms.) until $550mm sale in 2016 Provided initial seed capital for AST SpaceMobile 25+ years senior management and banking experience Prior CFO and Treasurer of Cogent Communications Former banking leadership positions at Standard Chartered Bank and J.P. Morgan • 15+ years of M&A / financing experience Previously Managing Director, TMT Investment Banking at Barclays • Advised AST on its $110mm Series B in 2019 and the SPAC merger / PIPE financing in 2021 20+ years of public company legal experience Prior General Counsel of Castle Brands Inc. Former Partner practicing Corporate and IP law 25+ years in satcom, business development and government / regulatory affairs Led Commercial Business Unit as EVP Globecomm Former SVP of Satellite Land Services at EMC 30+ years RF engineering + satcom Prior: Northrop Grumman Innovation Systems (Orbital ATK) 40+ GEO satellites built Director, Space Power and Propulsion Lab at University of Maryland NASA Innovative Advanced Concepts Fellow#155.5 billion mobile phones and devices globally Source: GSMA Intelligence (data as of December 31, 2022). 15 ast-science.com ASTSpaceMobile Global wireless services market generates over $1.1 trillion in annual revenue, with a backdrop of evolving and imperfect networks Global Population - 8.0 billion 3.5bn 2.5bn 1.0bn 4.5bn Cellular subscribers - broadband Cellular subscribers - no broadband Not a cellular subscriber 5.5bn 5.5 billion unique cellular subscribers 3.5 billion not subscribed to cellular broadband move in and out of coverage as they live, work and travel 0.4 billion have no coverage 3.1 billion usage gap#16AST Space Mobile technology solution 1. Market size based on the sum of 2020A revenues of included providers, AST SpaceMobile market size based on GSMA estimate of total cellular wireless market spend. 16 ast-science.com ASTSpaceMobile Differentiated approach compared to existing space-based communications End Users Market Size ¹ First & Only Broadband Direct To Mobile Phones AST SpaceMobile 09:41 Tuesday 12 September Any standard mobile phone Mass market mobility and the unconnected > $1 trillion Direct via Proprietary Mobile Phones LISTENING .. Provider-specific satphones (~$1K) Narrowband service on satphones < $2 billion Indirect via Complex, Expensive Hardware Provider-specific antennas mounted on planes, ships, vehicles, buildings (~$1K-$200K+) Enterprise, Maritime, Aviation, Government, Residential < $20 billion#17Satellite-to-cellular architecture is transparent to the end-user 17 ast-science.com ASTSpaceMobile Space Mobile network designed to closely mirror terrestrial cellular architecture Direct link to unmodified mobile phones and other cellular devices Low- and mid-band frequencies shared with wireless customers on non- interference basis Satellites in low Earth orbit will offer low- latency and attractive look angles Gateways / Partner Network Large satellites designed to create over 1 million fixed terrestrial cells globally with broadband capacity High-throughput Q/V-band feeder links for backhaul Terrestrial Telecom Network#18How subscribers are expected to use Space Mobile Service designed to be compatible with the 5.5 billion existing mobile phones and devices in use globally today 18 ast-science.com ASTSpaceMobile Significant flexibility in go-to-market strategy, with multiple potential ways for cellular subscribers to access more and better connectivity Day Pass (Broadband) Monthly Add-on (Consumer) Monthly Add-on (Enterprise) loT (Internet of Things) Emergency Connection • Subscribers receive a text on their phone asking if they would like to turn on SpaceMobile service • A fixed monthly rate to add SpaceMobile as a supplemental service to existing cellular plan Automatically connect with SpaceMobile's network upon entering an area without cell tower coverage ● Same as consumer, but with more data targeting power users Uplink / downlink for cellular compatible loT devices, for areas with poor terrestrial connectivity • Subscribers would use SpaceMobile during emergencies and natural disasters when terrestrial networks are not nearby or have failed 11:40 SpaceMobile .5Gs You are out of coverage. Would you like to turn on your SpaceMobile Day Pass? (Yes/No) Yes ( Welcome to SpaceMobile. You will now be connected everywhere.#19Funding history 1. Representative of $75 million of gross proceeds from November 2022 follow-on offering, $13.4 million of net proceeds from committed equity facility as of December 31, 2022, and $20.0 million of net proceeds from at-the-market offering program as of December 31, 2022. 2. On September 6, 2022, AST Space Mobile completed the sale of its 51% interest in its former subsidiary, NanoAvionika UAB ("Nano") for net proceeds of approximately $26.6 million 19 ast-science.com ASTSpaceMobile Carefully managed funding strategy in line with company milestones Total Investment ($M) Rounds Participated 2 Select Investors Rakuten Vodafone American Tower Cisneros (Invesat LLC) Bell Canada Samsung Founder, Chairman & CEO, Abel Avellan $6 January 2017 Seed 2 June 2018 2 2 1 1 Cisneros (Invesat LLC), Latin American Media & Entertainment company $10 Series A Total Investment $104 $35 $31 $12 $10 $1 $110 Rakuten vodafone SAMSUNG NEXT 2019 - 2020 Series B $462 Rakuten A AMERICAN TOWER O vodafone Bell Cisneros (Invesat LLC) + Public Investors April 2021 De-SPAC & PIPE $27 Divestiture of non-core asset for ~9x MOIC September 2022 Sale of Nano Stake² $108¹ Public Investors 2H 2022 Follow-On, CEF & ATM ~$725 Total Capital Raised#20ASTS share count 1. Basic share count as of March 28, 2023. Warrants, incentive equity options, and RSUS as of December 31, 2022. 2. Following the Business Combination with NPA on April 6, 2021, the Company was organized as an umbrella partnership-C corporation ("Up-C") structure. As a result of the Up-C structure, the Company is a holding company and, accordingly, all the business of AST is held directly by AST LLC, of which we are the managing member. 3. The Class B and C common stockholders own economic interests in AST LLC which are redeemable into either shares of Class A common stock on a one-for-one basis or cash at the option of the Election Redemption Committee. See AST's Quarterly Report on Form 10-K, filed with the SEC on March 31, 2023, for additional detail. 4. Mr. Avellan has historically asked not to be paid any base salary in excess of applicable minimum wage requirements under federal law and, as such, has received substantially below-market base salary. Effective as of the completion of the Business Combination, Mr. Avellan is not receiving any base salary from the Company. 5. Includes 11.0 million AST LLC 2019 Incentive Equity Options. Except as otherwise provided by the AST Board of Directors, each AST Incentive Equity Unit will be redeemable for one share of Class A Common Stock on the later of April 6, 2023 and the six- month anniversary of the vesting date. 20 ast-science.com ASTSpace Mobile Shares ¹ Class A common stock Class B common stock 2,3 Class C common stock 2,3 Total basic shares Other 1 Public warrants Sponsor warrants Incentive equity 5 / stock options and RSUS millions 71.9 50.0 78.2 200.1 11.5 6.1 16.2 Comment Publicly-traded shares Series A / B shares Abel Avellan 4 shares $11.50 exercise price $11.50 exercise price Management grants outstanding as of 12/31/2022#21AST MAY LOAD 5510 L (2530 KOT AST Z the world con SpaceMobile Nasdaq AST SpaceMobile AST SpaceMobile www TRENTS WHEE FEELHED A ////// 1114