2^nd Quarter 2009 Earnings August 11, 2009

This presentation may contain “Forward-Looking Statements”.  All statements other than statements of historical facts made in this presentation regarding the prospects of our industry and our prospects, plans, financial position and business strategy may constitute forward-looking statements.  We can give no assurance
that these expectations will prove to be correct.  Factors and risks that could cause actual results to differ materially from our expectations are described in the most recent SkyTerra Forms 10-Q and 10-K, on file with the SEC.

August 11, 2009

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Outline of Presentation

Alex Good – Chairman & CEO

Overview of Quarter

Satellite Construction

Technology Update

Current Business Initiatives

Regulatory Initiatives

Scott Macleod – Chief Financial Officer

2Q09 Financial Results

July 1, 2009 Funding

Ownership and Capital Structure

Next-Generation Satellite System Costs

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Satellite Construction Program

1.

Ambient testing of SkyTerra 1 completed; testing has been moved into Boeing’s thermal-vacuum chamber

2.

Acceptance testing of GBBF hardware is planned through the fourth quarter for all four gateways

3.

The launch window for SkyTerra 1 is now scheduled to be open from August 2010 through October 2010

4.

SkyTerra terminated SkyTerra 2 launch contract with Sea Launch (now in Chapter 11 proceedings) based on anticipatory breach

5.

Both SkyTerra satellites will now be launched via ILS

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Technology Update

1.

Our two-vendor chipset approach provides us with:

Technology flexibility

Stronger capability in delivering next-generation solutions to the broadest range of partners

Cost efficiency as a result of sharing arrangement with other ATC providers

2.

Qualcomm is scheduled to deliver the MDM9600 chip in mid 2010 and the MSM8960 chip in early 2011

3.

Alcatel-Lucent began development of the satellite base station; preliminary design review has been completed

4.

Infineon and Hughes have completed the product specification review for the GMR1-3G satellite technology

5.

Infineon’s software defined radio chipsets with embedded GMR1-3G expected to sample in mid 2011

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Current Business Initiatives

1.

SkyTerra continues to experience strong customer interest and has renewed several key customer contracts

2.

The SMART^TM talkgroup program continues to grow

3.

SkyTerra added I-SMART, or the Infrastructure talkgroup

I-SMART is the first talkgroup that will play a key role in protecting critical infrastructure interests

I-SMART is the first international talkgroup to enable interoperable
communications between public and private entities in the United States, Canada, and Mexico

4.

Satellite radios enrolled in the SMART program increased by 40% during the second quarter

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Regulatory Initiatives

1.

As part of our satellite coordination process, we conducted a quadrilateral meeting of satellite operators and regulators from the FCC, Industry Canada, OFCOM and Mexico

2.

SkyTerra remains committed to fully supporting Harbinger with the possible offer to acquire Inmarsat

3.

SkyTerra re-filed on April 29, 2009, with the FCC the ATC operating rules and approval to implement the Inmarsat Cooperation Agreement

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SkyTerra Consolidated Income Statement

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SkyTerra Consolidated Balance Sheet

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SkyTerra Capital Structure ⁽¹⁾

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July 1, 2009 Funding

1.

Closed on the third of four funding tranches from Harbinger:

January 4, 2009:$150 million

April 1, 2009:$175 million

July 1, 2009:$  75 million

Total $400 million

2.

SkyTerra issued 21.25 million penny warrants for SkyTerra common stock as per the closing of the April funding tranche

3.

The final tranche of $100 million is due January 4, 2010

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SkyTerra Ownership

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Next-Generation Satellite System Costs ($ in mm’s)

(6/30/09):

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