Joint Venture with NAV CANADA

NAV CANADA agreed to make a total investment in Aireon of up to $150 million. This investment was made in five tranches, each subject to the satisfaction of various operational, commercial, regulatory and financial conditions. Payment for the first tranche — amounting to $15 million and representing 5.1 percent of the fully diluted equity of Aireon — was made on November 19, 2012.