March 09, 2018

Iridium Communications Inc. announced the commencement of a private offering of $360 million in aggregate principal amount of senior notes due 2023 (the "Notes").

The Company plans to use the net proceeds of the offering to (i) make approximately $59.9 million of deferred payment obligations by repaying all amounts outstanding under the Company's bills of exchange with Thales Alenia Space France ("Thales"), including interest and insurance, (ii) make approximately $44.4 million of milestone payments to Thales under the Full Scale System Development Contract No. ID-10-021 between Iridium Satellite LLC and Thales when the applicable milestones have been met and (iii) fund approximately $87.0 million into the debt service reserve account under the Company's existing $1.8 billion credit facility (the "Credit Facility"). Any remaining proceeds will be used for general corporate purposes, including fees and expenses relating to the amendment to the Credit Facility that will become effective upon the issuance of the Notes.

The Notes proposed to be offered will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws and may not be offered or sold in the United States or to any U.S. persons absent registration under the Securities Act, or pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Notes will be offered only to persons reasonably believed to be "qualified institutional buyers" under Rule 144A of the Securities Act or, outside the United States, to persons other than "U.S. persons" in compliance with Regulation S under the Securities Act.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the Notes, nor shall there be any offer, solicitation or sale of any Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Company gives no assurance that the proposed offering can be completed on any terms.