Iridium Communications Inc.

Core operations · Quality control and product defects

Our products and services are subject to the risks inherent in a large-scale, complex telecommunications system employing advanced technology. Any disruption to our satellites, services, information systems or telecommunications infrastructure could result in the inability or reduced ability of our customers to receive our services.

Human capital and workforce · Talent acquisition and retention

Our ability to operate our company effectively could be impaired if we lose members of our senior management team or key technical personnel. We depend on the continued service and institutional knowledge of key managerial and technical personnel and personnel with security clearances.

Stakeholder relations · Supplier and vendor relationships

We depend on third parties to market and sell our products and services, and their inability to do so effectively could impair our revenue and our reputation. We select third-party distributors, in some cases on an exclusive basis, and rely on them to market and sell our products and services to end users.

Reputation and brand · Brand damage and negative publicity

If our distributors develop faulty or poorly performing products using our technology or services, we may be subject to claims, and our reputation could be harmed. If current or future distributors do not perform adequately, our brand image and reputation could be hurt.

Social and demographic · Public perception and reputation

Cyberattacks may also cause reputational harm and result in costly litigation. A successful security incident affecting us, our systems, devices or services could have a material adverse effect on our operations or financial results or reputation.

Geopolitical and trade · Trade policies tariffs and sanctions

U.S. trade policy changes in 2025 increased our costs and caused us to evaluate alternative sourcing arrangements. Future changes to trade policy by the U.S. or foreign governments, including tariff and customs regulations, could increase our costs, cause delays or cause us to further evaluate alternative sourcing.

Geopolitical and trade · Regulatory and policy uncertainty

In the future, we may seek to make changes to our constellation to offer new services or adjust the power. Any such changes may require prior FCC approval, and the FCC may subject the approval to other conditions that could be unfavorable to our business.

Innovation and product development · Intellectual property protection and infringement

Our ability to protect our proprietary technology is subject to limitations. Our success depends in part on the competitive advantage derived from the technologies we use in our products and services and our proprietary rights therein. Despite our efforts, third parties may attempt to copy or obtain and use our technology and proprietary information without authorization.

Innovation and product development · Product development and randd investment risks

Our failure to effectively manage the expansion of our portfolio of products and services could impede our ability to execute our business plan, and we may experience increased costs or disruption in our operations. For example, we have in the past experienced quality issues and incorrect market assessments in connection with the introduction of new products and services.

Market position and competition · Pricing pressure and margin compression

A lack of demand could impair our ability to sell products and services, develop and successfully market new products and services and could exert downward pressure on prices. Any decline in prices would decrease our revenue and profitability.

Credit and liquidity · Access to capital and financing

Market conditions could affect our access to capital markets, restrict our ability to secure financing to make planned capital expenditures and investments and pay other expenses, which could adversely affect our business, financial condition, cash flows and results of operations.

International and currency · Foreign exchange and currency exposure

The prices for our products and services are typically denominated in U.S. dollars. Any appreciation of the U.S. dollar against other currencies will increase the cost of our products and services to our international customers and, as a result, may reduce the competitiveness of our international offerings.

Capital structure and performance · Financial performance volatility

The trading price of our common stock has recently been subject to substantial fluctuations in response to various factors and may continue to be volatile. Factors affecting the trading price of our common stock may include actual or anticipated variations in our operating results, including termination or expiration of one or more of our key contracts.

Credit and liquidity · Debt service and covenant compliance

We will need to repay our Term Loan in full at maturity in September 2030. If our cash flows are insufficient to repay the loan at maturity, we may have to undertake alternative financing plans, such as refinancing at potentially higher interest rates with more restrictive covenants.

Technology infrastructure · Technology systems and infrastructure failure

If our ground operations were to be disrupted, we may experience interruptions in our ability to provide service to our customers. Our ground operations may be disrupted as a result of, among other things, natural disasters, extreme weather, power outages, equipment failures, software issues, cyber or physical attack or sabotage.

Digital transformation and innovation · Technology implementation and upgrades

Our customized hardware and software may be difficult and expensive to service, upgrade or replace. Some of the hardware and software we use in operating our gateways is significantly customized and tailored to meet our requirements and specifications and can be difficult and expensive to service, upgrade or replace.

Legal and litigation · Intellectual property disputes

We have been and may in the future become subject to claims that our devices or services violate the patent or other intellectual property rights of others, which could be costly and disruptive to us. We operate in an industry in which significant intellectual property claims and litigation are common.

Data and privacy · Data protection and privacy laws

The collection, storage, transmission, use and disclosure of user data and personal information could give rise to liabilities or additional costs as a result of laws, governmental regulations, and evolving views of personal privacy rights and information security standards. Many jurisdictions around the world have adopted laws and regulations regarding the collection, storage, transmission, use and disclosure of personal information.

Tax and financial reporting · Audit and regulatory examinations

We could be subject to adverse determinations by taxing authorities. We are subject to regular review and audit by both domestic and foreign tax authorities. Any adverse outcome of such a review or audit could have a negative effect on our operating results and financial condition.

Tax and financial reporting · Tax compliance and changes in tax law

Changes in tax laws could increase our worldwide tax rate and materially affect our financial position and results of operations. Tax policies, laws or rates in various jurisdictions may be subject to significant change, which could materially and adversely affect our financial position and results of operations.