Ligado Networks LLC et al.

Ligado Networks LLC and its debtor affiliates, including the Canadian debtors Networks Corp., Holdings and Networks Inc., are the subject of recognition proceedings under section 46 of the Companies' Creditors Arrangement Act in the Ontario Superior Court of Justice (Commercial List), court file CV-25-00734802-00CL. Ligado Networks LLC applied on January 14, 2025, and the court made its initial order on January 16, 2025, with FTI Consulting Canada Inc. as information officer. The proceedings remain active. Unaudited consolidated statements at September 30, 2024 showed total assets of US$2.6 billion against total liabilities of US$8.7 billion. At January 5, 2025 the group's secured debt, guaranteed by the Canadian debtors, stood at approximately US$5.5 billion of first lien notes, US$122.3 million of first lien senior pari term loans, US$319.5 million of first-out term loans, US$591.5 million of 1.5 lien loans and US$2.0 billion of second lien notes.