Eutelsat Announces the End of the Transaction to Dispose of Its Passive Ground Segment Infrastructure Assets

PARIS–(BUSINESS WIRE)–Regulatory News:

Eutelsat (ISIN: FR0010221234 – Euronext Paris / London Stock Exchange: ETL) hereby announces that the transaction currently underway for the disposal of its passive ground segment infrastructure assets to private equity investor, EQT Infrastructure VI, will not proceed, as all conditions precedent have not been satisfied.

The net proceeds attributable to Eutelsat from the transaction would have been in the region of €550m, while the negative annualized impact on adjusted EBITDA associated with the service agreement entered into with the prospective buyer amounted to €75-80m.

The non-completion of the transaction has no impact on Financial Objectives for FY 2025-26, with the exception of Net Debt to EBITDA which is now expected to stand at around 2.7 times at the end of the Financial Year (versus 2.5 times previously).The EBITDA margin for FY 2028-29 is now expected in the region of 65% (versus c.60% previously).

The non-completion of the transaction does not affect Eutelsat’s ability to fund the capital expenditure related to its strategic growth trajectory.

About Eutelsat

Eutelsat is a global leader in satellite communications, delivering connectivity and broadcast services worldwide. Eutelsat was formed through the combination of the Company and OneWeb in 2023, becoming the first fully integrated GEO-LEO satellite operator with a fleet of 33 Geostationary (GEO) satellites and a Low Earth Orbit (LEO) constellation of more than 600 satellites. Eutelsat addresses the needs of customers in four key verticals of Video, where it distributes around 6,300 television channels, and the high-growth connectivity markets of Mobile Connectivity, Fixed Connectivity, and Government Services. Eutelsat’s unique suite of in-orbit assets and ground infrastructure enables it to deliver integrated solutions to meet the needs of global customers. The Company is headquartered in Paris and Eutelsat employs more than 1,600 people across more than 75 countries. Eutelsat is committed to delivering safe, resilient, and environmentally sustainable connectivity to help bridge the digital divide. The Company is listed on the Euronext Paris Stock Exchange (ticker: ETL) and the London Stock Exchange (ticker: ETL).

Find out more at www.eutelsat.com

DISCLAIMER

The forward-looking statements included herein are for illustrative purposes only and are based on management’s views and assumptions as of the date of this document. Such forward-looking statements involve known and unknown risks. For illustrative purposes only, such risks include but are not limited to: risks related to the health crisis; operational risks related to satellite failures or impaired satellite performance, or failure to roll out the deployment plan as planned and within the expected timeframe; risks related to the trend in the satellite telecommunications market resulting from increased competition or technological changes affecting the market; risks related to the international dimension of the Group’s customers and activities; risks related to the adoption of international rules on frequency coordination and financial risks related, inter alia, to the financial guarantee granted to the Intergovernmental Organization’s closed pension fund, and foreign exchange risk. Eutelsat Communications expressly disclaims any obligation or undertaking to update or revise any projections, forecasts or estimates contained in this document to reflect any change in events, conditions, assumptions, or circumstances on which any such statements are based, unless so required by applicable law. The information contained in this document is not based on historical fact and should not be construed as a guarantee that the facts or data mentioned will occur. This information is based on data, assumptions and estimates that the Group considers as reasonable.

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