exhibit99-1.htm

Exhibit 99.1

SkyTerra Communications

2nd Quarter 2008 Earnings

August 5, 2008

1. $500M backstop financing w/Harbinger

• Funds business thru 3Q10

• Designed to coincide with SkyTerra’s funding needs

• Remains in place whether or not the acquisition of Inmarsat is ultimately completed

• Subject to a Material Adverse Effect or breach under the Agreements

2. SKYT and Harbinger have agreed on a framework for a possible offer for Inmarsat

• Firm Offer will be dependent on receiving Regulatory approvals

• Harbinger to provide equity and debt commitments to support any Firm Offer

3. Agreement also reached w/Boeing on additional $40 million deferrals

• In addition to the original construction payment deferral of $76 million

• Due the earlier of December 20, 2010 or ten days before shipment of MSV-2

Significant Recent Announcements

August 5, 2008

1. Harbinger will backstop SkyTerra/MSV funding needs through 3Q10

• MSV to issue up to $500MM Senior Unsecured Notes to Harbinger (in four tranches) on terms
similar to existing unsecured MSV debt

→ January 6, 2009: $150 million

→ April 1, 2009: 175 million

→ July 1, 2009: 75 million

→ January 4, 2010: 100 million

$500 million

• SkyTerra will issue warrants at $0.01 per share for up to 25MM shares as part of debt financing

2. SkyTerra retains flexibility to “go-shop” interim financing

3. Harbinger financing commitment provides funding for the Company through a number of significant
milestones, including:

• Launch of MSV-1

• Construction of MSV-2 and related satellite ground system

• Substantial chipset and device development

• Significant core network and back-office system development

$500 million Backstop Financing

August 5, 2008

1. Offer:

• Upon receipt of regulatory approvals and if a decision to move forward, SKYT makes a Firm Offer for
Inmarsat

2. Assets to be contributed at closing of Inmarsat deal:

• 132MM Inmarsat Shares - valued at $1,415MM (assuming £5.353 per share and exchange rate of
$2.00/£)

• 1.6GHz spectrum rights - valued at $240MM (plus assumption of Crown Castle lease)

• Inmarsat convertible debt - valued at $42MM

3. Financing the purchase price:

• $2.4 bn from Harbinger equity contributions into SKYT @ $10 per share, subject to Adjustment Ratchet

• Up to $100 mm rights offering participation (out of the equity contribution) by Non-Harbinger
shareholders of SKYT

• $2.4 bn Senior Debt

• $300 mm Mezzanine Debt

• Mix of equity and debt may change, depending upon final Offer Price and market conditions

4. Target Adjustment Ratchet:

• Ratchet Price = $10.00 * (ISAT Firm Offer/535.3P)

Potential SkyTerra/Inmarsat Transaction

August 5, 2008

Illustrative Pro Forma Capitalization @ 535.3p

August 5, 2008

2Q Update: Sales Initiatives

1. Satellite Priority Service with DHS’ National Communication System

• MSV’s push-to-talk and priority satellite telephony communications provided to NCS
through distribution alliance with Sprint

2. Satellite Mutual Aid Radio Talkgroups (SMART) launched

• Mid-west SMART

– 14-state region in Middle America, managed by Indiana Department of
Homeland Security’s Response and Operations Division

• Central U.S. Earthquake Consortium Talkgroup#1

– 8-state government partnership dedicated to preparation and response to
earthquakes in the New Madrid seismic zone

3. SMART program interest remains brisk, with more than 1,000 locations now operating on
two nationwide and four regional talkgroups

• Expect one additional nationwide and five additional regional SMART talkgroups by
year end, resulting in nine overlapping talkgroups that completely cover the mainland
U.S., AK, HI, PR and U.S. Virgin Islands

4. SMART program is included in the list of Federal Tactical and Emergency Communications
Systems and Services in the National Emergency Communications Plan issued by DHS in
July

5. Announced in June the further extension of MSV’s current communications ground
segment and mobile data system services through the end of 2012

August 5, 2008

2Q Update: Satellite Construction Program

1. Over 60% of MSV-1 components acceptance tested and delivered to Boeing

2. Initial surface set of the 22 meter reflector has been completed; all 16 MSV-1 flight hinges
have completed acceptance testing

3. Validation and test of the Ground-Based Beam Former circuit boards successfully completed

4. Construction has begun at two of the four gateway sites (Napa and Saskatoon)

5. Launch schedule remains on track, well ahead of FCC and Industry Canada regulatory
milestones

– Fourth quarter of 2009 or first quarter 2010 launch of MSV-1

– Second half 2010 launch of MSV-2

August 5, 2008

2Q Update: Industry Perspectives

1. Upward trend in spectrum valuation now extends across North America

• Average price for Canadian auction of 100 MHz was $1.40 per MHz POP

2. Why have North American carriers invested nearly $40 billion on spectrum since
September 2006?

• Data services require increasing amounts of bandwidth

• Spectrum is a fixed resource

• The same demands by broadband Internet usage on fixed-line services are migrating
to wireless

• 3G and 4G data services are becoming increasingly important to the revenue
performance of U.S. wireless carriers

August 5, 2008

2Q Update: Industry Perspectives (contd.)

1. MSV has embarked on primary research project in government, enterprise and consumer
markets

2. Service quality is a cause for churn by nearly 50% of U.S. mobile households that plan to
switch carriers

• Satellite communications directly addresses service quality consideration, which is
coverage

3. Interest in satellite services is significant and growing in the enterprise sector

4. Initial Findings of MSV’s focus groups:

• Users with critical communications needs, sensitive to emergency communications or
seeking a business edge found the prospect of an integrated satellite-terrestrial
service appealing

• Users expressed frustration with dropped calls and inconsistent coverage

• One government respondent remarked that integrating satellite communications
capability into a cellular phone was “the coolest thing since sliced bread”

• The availability of devices at minimal incremental cost with reasonable service pricing
(two things not historically available with satellites) was cited as a gating factor

August 5, 2008

2Q Update: Industry Perspectives (contd.)

1. Extending coverage

• The integration of a seamless satellite communications capability into every handset
that operates in the D-Block/Public Safety Broadband Spectrum is a critical
requirement

• The major wireless carriers cover between 89 and 95% of U.S. POPs

– It’s not economical to cover more than that with terrestrial networks

– The incremental cost of serving less-dense areas is in excess of $10 billion

• The benefits of integrated satellite-terrestrial services accrue to:

– Less dense areas

– Every road and highway

– Emergencies where terrestrial communications are unavailable

– Any critical mission where a terrestrial-only network can’t be