PRESS RELEASE EXHIBIT 99.1

AST SpaceMobile Provides Second Quarter 2022 Business Update

MIDLAND, TX, August 15, 2022 – AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by standard mobile phones, today is providing its business update for the second quarter ended June 30, 2022.

“We are thrilled to be on-site at Cape Canaveral, FL, taking our BlueWalker 3 test satellite through final preparations and continuation of testing for the upcoming planned launch to low Earth Orbit in early to mid-September,” said Abel Avellan, Chairman and CEO of AST SpaceMobile. “Alongside this milestone, the team is hard at work in preparing our Texas headquarters and extension facility for future production of our initial BlueBird satellites.”

Business Highlights

[1] The actual launch date remains subject to change and is contingent on a number of factors including, but not limited to testing, timely readiness of the launch vehicle and other unknowns including, but not limited to, weather conditions or technical problems.

Second Quarter 2022 Financial Highlights

Conference Call Information

AST SpaceMobile will hold a quarterly business update conference call at 5:00 p.m. (Eastern Time) today, August 15, 2022. The call will be accessible via a live webcast on the Events page of AST SpaceMobile’s Investor Relations website at https://investors.ast-science.com/. An archive of the webcast will be available shortly after the call.

About AST SpaceMobile

AST SpaceMobile is building the first and only global cellular broadband network in space to operate directly with standard, unmodified mobile devices based on our extensive IP and patent portfolio. Our engineers and space scientists are on a mission to eliminate the connectivity gaps faced by today's five billion mobile subscribers and finally bring broadband to the billions who remain unconnected. For more information, follow AST SpaceMobile on YouTube, Twitter, LinkedIn and Facebook. Watch this video for an overview of the SpaceMobile mission.

Forward-Looking Statements

This communication contains “forward-looking statements” that are not historical facts, and involve risks and uncertainties that could cause actual results of AST SpaceMobile to differ materially from those expected and projected. These forward-looking statements can be identified by the use of forward-looking terminology, including the words “believes,” “estimates,” “anticipates,” “expects,” “intends,” “plans,” “may,” “will,” “would,” “potential,” “projects,” “predicts,” “continue,” or “should,” or, in each case, their negative or other variations or comparable terminology.

These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside AST SpaceMobile’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (i) expectations regarding AST SpaceMobile’s strategies and future financial performance, including AST’s future business plans or objectives, expected functionality of the SpaceMobile Service, anticipated timing and level of deployment of satellites, anticipated demand and acceptance of mobile satellite services, prospective performance and commercial opportunities and competitors, the timing of obtaining regulatory approvals, ability to finance its research and development activities, commercial partnership acquisition and retention, products and services, pricing, marketing plans, operating expenses, market trends, revenues, liquidity, cash flows and uses of cash, capital expenditures, and AST’s ability to invest in growth initiatives; (ii) the negotiation of definitive agreements with mobile network operators relating to the SpaceMobile service that would supersede preliminary agreements and memoranda of understanding; (iii) the ability of AST SpaceMobile to grow and manage growth profitably and retain its key employees and AST SpaceMobile’s responses to actions of its competitors and its ability to effectively compete; (iv) changes in applicable laws or regulations; (v) the possibility that AST SpaceMobile may be adversely affected by other economic, business, and/or competitive factors; (vi) the outcome of any legal proceedings that may be instituted against AST SpaceMobile; and (vii) other risks and uncertainties indicated in the Company’s filings with the SEC, including those in the Risk Factors section of AST SpaceMobile’s Form 10-K filed with the SEC on March 31, 2022.

AST SpaceMobile cautions that the foregoing list of factors is not exclusive. AST SpaceMobile cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the Risk Factors incorporated by reference into AST SpaceMobile’s Form 10-K filed with the SEC on March 31, 2022. AST SpaceMobile’s securities filings can be accessed on the EDGAR section of the SEC’s website at www.sec.gov. Except as expressly required by applicable securities law, AST SpaceMobile disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

AST SPACEMOBILE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

(dollars in thousands)

Investor Contact:

Scott Wisniewski

[email protected]

Media Contact:

Brandyn Bissinger

[email protected]

+1 866 845 6521

Transforming howthe world connects Business Update – Second Quarter 2022 August 15, 2022 NASDAQ: ASTS

ast-science.com Forward Looking Statements The information in this presentation and the oral statements made in connection therewith includes “forward-looking statements” for the purposes of federal securities laws that are not historical facts and involve risks and uncertainties that could cause actual results to differ materially from those expected and projected. All statements, other than statements of historical fact in this presentation and the oral statements made in connection therewith regarding AST SpaceMobile, Inc.’s, collectively with its subsidiaries (“SpaceMobile” or the “Company”), financial position, business strategy and the plans and objectives of management for future operations, are forward-looking statements. Words such as “expect,” “believe,” “anticipate,” “intend,” “estimate,” “seek” and variations and similar words and expressions are intended to identify such forward-looking statements. Such forward-looking statements relate to future events or future performance, but reflect management’s current beliefs, based on information currently available. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the Risk Factors contained in AST SpaceMobile’s Annual Report on Form 10-K, filed with the SEC on March 31, 2022. The Company’s securities filings can be accessed on the EDGAR section of the SEC’s website at www.sec.gov. Except as expressly required by applicable securities law, the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. Use of Non-GAAP Financial Measures Adjusted operating expense is an alternative financial measure used by management to evaluate our operating performance as a supplement to our most directly comparable U.S. GAAP financial measure. We define Adjusted operating expense as Total operating expenses adjusted to exclude amounts of stock-based compensation expense and depreciation and amortization expense. We believe Adjusted operating expenses is a useful measure across time in evaluating the Company's operating performance as we use Adjusted operating expenses to manage the business, including in preparing our annual operating budget and financial projections. Adjusted operating expense is a non-GAAP financial measure that has no standardized meaning prescribed by U.S. GAAP, and therefore has limits in its usefulness to investors. Because of the non-standardized definition, it may not be comparable to the calculation of similar measures of other companies and are presented solely to provide investors with useful information to more fully understand how management assesses performance. This measure is not, and should not be viewed as, a substitute for its most directly comparable GAAP measure of Total operating expenses. Industry and Market Data This presentation includes market data and other statistical information from sources believed to be reliable, including independent industry publications, governmental publications or other published independent sources. Although AST SpaceMobile believes these sources are reliable, we have not independently verified the information and cannot guarantee its accuracy and completeness. Trademarks and Trade Names AST SpaceMobile owns or has rights to various trademarks, service marks and trade names that they use in connection with the operation of their respective businesses. This presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. The use or display of third parties’ trademarks, service marks, trade names or products in this presentation is not intended to, and does not imply, a relationship with AST SpaceMobile, or an endorsement or sponsorship by or of AST SpaceMobile. Solely for convenience, the trademarks, service marks and trade names referred to in this presentation may appear without the ®, TM or SM symbols, but such references are not intended to indicate, in any way, that AST SpaceMobile will not assert, to the fullest extent under applicable law, their rights or the right of the applicable licensor to these trademarks, service marks and trade names.

Q2 2022 update AST SpaceMobile is building the first and only global cellular broadband network in space to operate directly with standard, unmodified mobile devices based on our extensive IP and patent portfolio. Our engineers and space scientists are on a mission to eliminate the connectivity gaps faced by today's five billion mobile subscribers and finally bring broadband to the billions who remain unconnected.

Technology and industrialization update Fully-assembled BlueWalker 3 (BW3) test satellite delivered to Cape Canaveral, FL Upcoming planned launch, with a launch window for early to mid-September The next five satellites are in initial phase of component construction, with design based on similar technology to BW3, including FPGA, reaction wheels and antennas, with launch planned in late 2023 Commercial agreements in place with suppliers for most components of the next five Block 1 BlueBird satellites and next generation satellites Construction of the extension production facility (Site 2) in Texas is on schedule

BlueWalker 3launch and testing timeline July 19 Transported BW3 to California for testing Successfully completed environmental testing Planned launch window on Falcon 9 Launch Vehicle from Cape Canaveral, FL T: Early to Mid Sep T+2 Months BW3 Launch Milestones T+6 Months Cellular broadband direct-to-cell phone testing on standard handsets, in cooperation with participating MNOs on six continents Testing with our BW3 satellite to be conducted utilizing Nokia and Rakuten commercial MNO infrastructure Transported BW3 to Cape Canaveral, FL for final preparations and continuation of testing August 9 Path to launch and BW3 in-orbit operations roadmap BW3 placed into orbit Initial in-orbit testing Unfold phased array Deploy QV antennas July 19 Transported BW3 to California for testing Successfully completed environmental testing

Continued business momentum Added three new operators 1 new memoranda of understanding signed with additional operators, including Smartfren Telecom (Indonesia) More than 1.8 billion subscribers 2 represented by mobile network operators with whom we have agreements and understandings Agreement to sell majority ownership stake in NanoAvionika UAB at enterprise valuation of €65 million, and the Company expects to receive approximately $27 million in net proceeds at closing 4 Source: GSMA Intelligence (data as of 12/31/2021). Since last business update provided on May 16, 2022. Metric defined as number of subscribers represented by mobile network operators who have agreements and understandings with AST SpaceMobile as of August 15, 2022. As of August 15, 2022, compared to more than 2,300 as of May 16, 2022. Expected to close in the third quarter of 2022, subject to customary closing conditions including any required regulatory reviews. Reflects current estimate of net proceeds. Actual proceeds subject to fluctuation in the EUR / USD currency exchange rate and final closing balance sheet accounts. Increase to more than 2,400 patent and patent-pending claims 3 supports strong and expanding competitive advantage 4G LTE/5G technology agreement with Nokia for the integration of Nokia’s AirScale System, which is planned to be offered as part of SpaceMobile’s MNO infrastructure

Second quarter 2022 financialmetrics Adj. Operating Expenses 1 Liquidity $mm $mm See the next slide for a reconciliation. Adjusted operating expenses is equal to total operating expense less non-cash operating expense such as depreciation and amortization and stock based-compensation expense. Depreciation and amortization for the three months ended June 30, 2022 and March 31, 2022 was $1.2 million and $1.1 million, respectively. Stock-based compensation for the three months ended June 30, 2022 and March 31, 2022 consisted of $1.0 million and $1.3 million of engineering services expense and $1.5 million and $1.0 million of general and administrative costs, respectively. Cumulative as of date specified. Net of depreciation and amortization. Capital Expenditures 2 $mm +$0.9 +$1.0 +$0.6 +$2.4 +$3.9 +$5.5 +$9.4

Reconciliation to non-GAAP measures –adj. operating expenses Adj. operating expenses – 3 months ended Stock-based compensation for the three months ended June 30, 2022, March 31, 2022, and June 30, 2021 consisted of $1.0 million, $1.3, and $0.2 million of engineering services expense and $1.5 million, $1.0, and $0.0 million of general and administrative costs, respectively. Stock-based compensation for the six months ended June 30, 2022 and 2021 consisted of $2.3 million and $0.5 million of engineering services expense and $2.4 million and $0.1 million of general and administrative costs, respectively. ($ in thousands)  June 30, ’22 Mar 31, ’22 June 30, ’21 Engineering services 11,999 11,717 5,784 General and administrative costs 13,075 11,643 9,157 Research and development costs 9,145 8,281 9,589 Depreciation and amortization 1,185 1,100 567 Total operating expenses 35,404 32,741 25,097 Less: Depreciation and amortization (1,185) (1,100) (567) Less: Stock-based Compensation Expense 1 (2,440) (2,255) (242) Total adj. operating expenses 31,779 29,386 24,288 Adj. operating expenses – 6 months ended ($ in thousands)  June 30, ’22 June 30, ’21 Engineering services 23,716 10,731 General and administrative costs 24,718 14,693 Research and development costs 17,426 10,603 Depreciation and amortization 2,285 1,182 Total operating expenses 68,145 37,209 Less: Depreciation and amortization (2,285) (1,182) Less: Stock-based Compensation Expense 2 (4,695) (598) Total adj. operating expenses 61,165 35,429

NASDAQ: ASTS