November 16, 2020 – Speedcast International Limited and Inmarsat have reached agreement on the sale of Speedcast’s primary Fleet Xpress, FleetBroadband and Fleet One service contracts to Inmarsat. The agreement marks another significant step for Speedcast as it looks to emerge from its Chapter 11 proceedings announced earlier this year, and is subject to approval by the U.S. courts overseeing the Company’s financial restructuring. Through the agreement, the Speedcast customers that are transferred to Inmarsat will be assured of continuing access to Inmarsat’s market-leading connectivity services. The agreement covers both Speedcast’s L-band maritime contracts in which Inmarsat serves as the primary connectivity onboard, as well as the full Inmarsat Fleet Xpress portfolio from Speedcast. Speedcast will continue to deliver managed services to its commercial maritime sector clients with primary VSAT and other non-Inmarsat mobile satellite services (MSS) onboard, and will maintain its Inmarsat Distribution Partner status to deliver existing MSS back-up services, with no impact to customer operations or support. Speedcast will also continue to deliver Inmarsat Land MSS services to its enterprise customers as part of the Company’s land portfolio, with enterprise clients and sites unaffected by this agreement. Inmarsat will take on management of the transitioned Inmarsat Maritime contracts, as well as the 24/7 operations and support for customers through its network operations and customer support centers. Customers will continue to receive the highest quality of service, with the deal including a fully supported handover to ensure a seamless transition.