Globalstar, Inc. (NYSE American: GSAT) announced today that its Board of Directors has approved a $62.0 million non-convertible bridge facility (“Bridge Facility”) to fund June 2019 principal and interest payments to lenders of its senior credit facility guaranteed by BPIFAE (“BPIFAE Facility”) and to maintain compliance under the BPIFAE Facility. The new Bridge Facility, which is subject to completion of definitive documentation, is expected to close today and to be funded by multiple existing shareholders.

The Bridge Facility will be fully subordinated to the BPIFAE Facility and will be senior to the existing Thermo Subordinated Loan. The facility will bear payable-in-kind interest and is expected to be replaced by a new second lien facility concurrent with a broader refinancing in the near-term.

Jay Monroe, Executive Chairman of Globalstar, commented “The Bridge Facility represents the first step of a two-part refinancing of the company. We continue to work towards and are confident in our ability to complete a broader refinancing in the near-term. We look forward to announcing the comprehensive details of a transaction as soon as possible. We believe the resulting pro forma capital structure represents a significant improvement from the existing structure and will provide an extended runway for the company going forward. We expect this refinancing to allow the company to deliver on the extensive potential before us with respect to both the core satellite business and terrestrial spectrum opportunities.”

About Globalstar

Globalstar is a leading provider of customizable Satellite IoT Solutions for customers around the world in industries such as oil and gas, transportation, emergency management, government, maritime and outdoor recreation. A pioneer of mobile satellite voice and data services, Globalstar allows businesses to streamline operations by connecting people to their devices, supplying personal safety and communication, and automating data to more easily monitor and manage mobile assets via the Globalstar Satellite Network. The Company's Commercial IoT product portfolio includes the industry-acclaimed SmartOne asset tracking products, Simplex satellite transmitters, and the SPOT® product line of personal safety, asset and communication devices, all supported on SPOT My Globalstar, a robust cloud-based back office solution. Completing the satellite product suite are Duplex satellite data modems, the innovative Sat-Fi2 satellite Wi-Fi hotspot, with all product solutions offering a variety of data service plans. Learn more at Globalstar.com

Notice Regarding Forward-Looking Statements

This communication contains not only historical information, but also forward-looking statements made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent Globalstar’s current expectations or beliefs concerning future events, including but not limited to the expected completion and timing of the proposed bridge financing and refinancing, expected benefits and costs of the proposed transactions, management plans and other information relating to the proposed transaction. Without limiting the foregoing, the words “will,” “is expected,” “believe,” “should,” “would” and similar expressions are intended to identify forward-looking statements. You should read any such forward-looking statements carefully, as they involve a number of risks, uncertainties and assumptions that may cause actual results to differ significantly from those projected or contemplated in any such forward-looking statement. Those risks, uncertainties and assumptions include (i) the risk that the proposed bridge financing or refinancing may not be completed in a timely manner or at all, which may adversely affect Globalstar’s business and financial position and the price of the common stock of Globalstar, (ii) the failure to satisfy any of the conditions to the consummation of the proposed transactions, (iii) the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the bridge financing agreement, (iv) the effect of the announcement or pendency of the proposed transaction on Globalstar’s business relationships, operating results and business generally, (v) risks that the proposed transaction disrupts current plans and operations and the potential difficulties in employee retention as a result of the proposed transaction, (vi) risks related to diverting management’s attention from Globalstar’s ongoing business operations, (vii) unexpected costs, charges or expenses resulting from the proposed transactions, and (viii) other risks described in Globalstar’s filings with the SEC, such as its Quarterly Reports on Form 10Q and Annual Reports on Form 10-K. Forward-looking statements speak only as of the date of this communication or the date of any document incorporated by reference in this document. Except as required by applicable law or regulation, Globalstar does not assume any obligation to update any such forward-looking statements whether as the result of new developments or otherwise.

Marcy O'Leary, Globalstar, Inc. marcy.oleary@globalstar.com (985) 335-1609

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