#1EUTELSAT TO COMBINE WITH ONEWEB A leap forward in Satellite Connectivity July 26, 2022 O OneWeb#2DISCLAIMER NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO, OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION This presentation does not constitute or form part of and should not be construed as any offer for sale of or solicitation of any offer to buy any securities of Eutelsat Communications, nor should it, or any part of it, form the basis of or be relied on in connection with any contract or commitment whatsoever concerning Eutelsat Communications' assets, activities or shares. This presentation contains combined data (including synergies) which are estimate based on the completion of the combination between Eutelsat Communications and OneWeb. All statements other than historical facts included in this presentation, including without limitations, those regarding Eutelsat Communications' position, business strategy, plans and objectives are forward-looking statements. The forward-looking statements included herein are for illustrative purposes only and are based on management's current views and assumptions and current available information. Such forward-looking statements involve known and unknown risks. For illustrative purposes only, such risks include but are not limited to: postponement of any ground or in-orbit investments and launches including but not limited to delays of future launches of satellites; impact of financial crisis on customers and suppliers; trends in Fixed Satellite Services markets; development of Digital Terrestrial Television and High Definition television; development of satellite broadband services; Eutelsat Communications' ability to develop and market value-added services and meet market demand; the effects of competing technologies developed and expected intense competition generally in its main markets; profitability of its expansion strategy; partial or total loss of a satellite at launch or in-orbit; supply conditions of satellites and launch systems; satellite or third-party launch failures affecting launch schedules of future satellites; litigation; ability to establish and maintain strategic relationships in its major businesses; and the effect of future acquisitions and investments. Eutelsat Communications and OneWeb expressly disclaim any obligation or undertaking to update or revise any projections, forecasts or estimates contained in this presentation to reflect any change in events, conditions, assumptions or circumstances on which any such statements are based, unless so required by applicable law. None of Eutelsat Communications and OneWeb, their shareholders, subsidiaries, affiliates, associates, or their respective directors, officers, partners, employees, representatives and advisers makes any representation or warranty, express or implied, as to the accuracy or completeness of the information contained in this presentation, or otherwise made available, nor as to the reasonableness of any assumption contained herein or therein, and any liability therefor is expressly disclaimed. Nothing contained herein or therein is, or shall be relied upon as, a promise or representation, whether as to the past or the future and no reliance, in whole or in part, should be placed on the fairness, accuracy, completeness or correctness of the information contained herein or therein. Certain industry and market data contained in this presentation has come from official or third party sources. Third party industry publications, studies and surveys generally state that the data contained therein have been obtained from sources believed to be reliable, but that there is no guarantee of the accuracy or completeness of such data. While Eutelsat Communications believes that each of these publications, studies and surveys has been prepared by a reputable source, Eutelsat Communications has not independently verified the data contained therein. In addition, certain of the industry and market data contained in this presentation has come from Eutelsat Communications' own internal research and estimates based on the knowledge and experience of Eutelsat Communications' management in the market in which Eutelsat Communications operates. While Eutelsat Communications believes that such research and estimates are reasonable and reliable, they, and their underlying methodology and assumptions, have not been verified by any independent source for accuracy or completeness and are subject to change without notice. Accordingly, undue reliance should not be placed on any of the industry or market data contained in this presentation. No statement in this presentation is intended as a profit forecast and no statement in this presentation should be interpreted to mean that cash flow from operations, free cash flow, earnings or earnings per Eutelsat Communications share for the current or future financial years would necessarily match or exceed the historical published cash flow from operations, free cash flow, earnings or earnings per Eutelsat Communications share. There can be no assurance that the proposed transaction between Eutelsat Communications and OneWeb will be consummated or that the anticipated benefits will be realised. The proposed transaction is subject to various regulatory approvals and the fulfilment of certain conditions, and there can be no assurance that any such approvals will be obtained and/or such conditions will be met. In the United Kingdom, this presentation is made only to and directed only at (a) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (b) persons falling within Article 49(2)(a) of the Order or (c) other persons to whom it may otherwise be lawfully communicated (each such person a "relevant person"). The distribution of this presentation or any information contained in it may be restricted by law in certain jurisdictions, and any person into whose possession any document containing this presentation or any part of it comes should inform themselves about, and observe, any such restrictions. Any failure to comply with applicable requirements may constitute a violation of the laws and/or regulations of any such jurisdiction. Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. Additional information In connection with the proposed transaction, Eutelsat Communications intends to file with the AMF an information document in connection with the listing of its shares to be issued in exchange for the contribution by OneWeb key shareholders of part of the OneWeb shares. Investors are urged to carefully read all relevant documents filed with the AMF, including the information document when it becomes available, because they will contain important information about the proposed transaction. Investors may obtain free of charge a copy of the information document as well as other documents filed with the AMF (when they become available) on the AMF's website at www.amf- france.org. Those documents, when filed, may also be obtained free of charge on Eutelsat Communications' website at https://eutelsat.com. |2#3TODAY'S PRESENTERS Eva Berneke CEO of Eutelsat Neil Masterson CEO of One Web Michel Azibert Deputy CEO of Eutelsat Sandrine Teran CFO of Eutelsat 3#4Eutelsat FY 2021-22 results update#5FULL-YEAR 2022: KEY FIGURES OPERATING VERTICALS REVENUES EBITDA MARGIN² CASH CAPEX² DISCRETIONARY FREE CASH FLOW² NET DEBT / EBITDA² PROPOSED DIVIDEND €1,148m at reported €/$ rate €1,122m at 1.20 €/$ rate 74.8% reported €280m €443m reported €460m adjusted (as per financial objectives)² 3.27x €0.93 per share with the option to receive dividend in shares (1) YoY variation at constant currency and perimeter (2) Alternative performance metrics. Please refer to Appendix 3 to the press release for more details. Reported (4.4%) +0.1 pt (5.1%) +0.39 pt Stable YoY change As per financial objectives definition (3.8%)1 (2.1%) |5#6FY23: REVENUE TRENDS BY APPLICATION BROADCAST DATA & PROFESSIONAL VIDEO GOVERNMENT SERVICES FIXED BROADBAND MOBILE CONNECTIVITY Carry-forward effect of the partial renewal with Nilesat washing out from mid-October 2022 Non-renewal of the agreement with Digitürk Revenue trend to materially improve vs FY22 with FY23 expected in mid-single digit decline ➤ Ongoing structural pressure in Professional Video Positive volume trends in the Fixed Data partially offsetting price pressure Overall Revenue trend to remain largely in keeping with FY22 mid-single digit decline ➤ Ramp-up of EUTELSAT QUANTUM and carry-forward effect of FY22 below-average renewals Revenues continuing to be driven by the outcome of upcoming US DoD renewals ➤ Ongoing good momentum but no incremental capacity in FY23 Carry-forward effect of Hispasat contract and positive dynamic in Africa and LATAM Revenues to keep growing in FY23, although at a slower pace than in FY22 ➤ Ongoing good momentum in maritime but no incremental capacity in FY23 ➤ Full benefit of the recent agreement with Telenor but downsizing of a contract in MENA > Revenues to keep growing in FY23, although at a slower pace than in FY22 | 6#7FINANCIAL OUTLOOK OPERATING VERTICALS REVENUES¹ CASH CAPEX ADJUSTED DISCRETIONARY FREE CASH FLOW³ LEVERAGE DISTRIBUTION Between €1,150 to €1,180m in FY23¹ Growth from FY24 Not exceeding €400m² per annum for each of the next two fiscal years (FY23 / FY24) Average of €420m per year over the next two fiscal years (FY23 / FY24)³ Equivalent to cumulative Adjusted DFCF generation of €1,361m over three fiscal years (FY 22/FY 23/FY 24) at 1.00 €/$ Medium-term net debt / EBITDA ratio of c. 3x €0.93 per share proposed to the AGM for FY22 Option to receive dividend in shares (1) Based on a €/$ rate assumption of 1.00 and current perimeter and on the nominal deployment plan outlined below. It assumes no material deterioration of revenues generated from Russian customers. (2) Including capital expenditure and payments under existing export credit facilities and other bank facilities financing investments as well as payments related to lease liabilities. (3) Based on a €/$ rate assumption of 1.00 and current perimeter. Adjusted DFCF objectives exclude future payments related to the take-or-pay agreement with One Web mentioned in the press release. | 7#8EUTELSAT TO COMBINE WITH ONEWEB A leap forward in Satellite Connectivity I 8#9TRANSACTION HIGHLIGHTS: SHIFTING TO GROWTH Double-digit revenue and EBITDA growth over the medium to long term 000 •T• ifi COMBINATION OF EUTELSAT AND ► Full-share combination of Eutelsat and OneWeb leading to 50 / 50 ownership of combined entity ONEWEB TO CREATE THE FIRST Natural next step following acquisition of a minority stake in OneWeb by Eutelsat in 2021, Global Distribution INTEGRATED GEO / LEO PLAYER Partnership signed in March 2022, and a new extensive Commercial Agreement signed today MASSIVE GROWTH OPPORTUNITY IN CONNECTIVITY STRONG VALUE CREATION HIGH-GROWTH AND ROBUST FINANCIAL PROFILE BALANCED OWNERSHIP AND GOVERNANCE Revolution in Connectivity from combination of GEO and LEO, paving the way for next generation offerings Combined entity will be uniquely positioned to address the booming $16bn (2030) Satellite Connectivity market and seize public and private opportunities Creating strong strategic value and shifting to high-growth Over €1.5bn incremental value creation from a balanced combination of revenue, capex and cost synergies Double-digit revenue and EBITDA growth over the medium to long term ▸ Strong cash flow generation from Eutelsat supporting high-return investment into OneWeb's next generation of satellites and new GEO flexsats Strong support of strategic shareholders of both entities, and undertakings of Bpifrance and FSP to vote in favor of the Transaction at Eutelsat's EGM, subject to usual conditions. CMA CGM, a shareholder of Eutelsat, is also supporting the combination Balanced board and governance structure including representatives from Eutelsat and OneWeb |9#10AGENDA 1. Compelling market opportunity 2. Eutelsat and OneWeb: a powerful combination 3. Strong value creation and robust financial profile 4. Attractive transaction terms 5. Concluding remarks | 10#11SATELLITE TECHNOLOGY FOR A MORE CONNECTED WORLD TECHNOLOGICAL REVOLUTION IN SATELLITE COMMUNICATIONS High-Throughput Satellites (HTS) ► Unprecedented throughput with more flexibility and lower costs Low Earth Orbit (LEO) satellites ► Truly global coverage and fiber-like connectivity (low latency) Revolution in terminals (form factor, self installation) EUTELSAT goog OneWeb BOOMING DEMAND FOR CONNECTIVITY ACROSS VERTICALS ► Inflight and maritime connectivity ▸ Enterprise communication, collaboration and cloud ► Civil government and military ► Consumer broadband | 11#12LEO CONSTELLATIONS: A NEW WORLD OF OPPORTUNITIES Revolutionary global LEO network creates massive market opportunity with ubiquitous, low latency coverage LEO satellites combine low latency with high quality of service Typical round-trip latency value (ms) Satellite Terrestrial networks (broadband) LEO GEO Fibre-optic (local loop) Cellular (local loop) C:: to (6,750 km) (11,000 km) ~50 ~10 ~30 ~100 ~300 ~600 Widening our addressable market ► Enterprise collaboration ► Cloud-based applications Device remote controlling Real time gaming 4G/5G zoom Google Meet Office salesforce TeamViewer B Ovodafone Telefonica | 12#13$16BN CONNECTIVITY MARKET OPPORTUNITY $4.3bn 0.9 0.7 1.1 1.5 2020 Double-digit growth across verticals B2C B2B Evolution of Satellite Connectivity market $15.6bn Source: Euroconsult Satellite Connectivity and Video Market, September 2021 HTS: High-throughput satellite 4.4 3.4 3.9 3.9 2030 Consumer broadband Mobility Government Fixed data 20-30 CAGR (%) +14% +17% +17% +13% +10% Balanced share between LEO and HTS 20-30 CAGR (%) $15.6bn 7.4 7.9 0.3 2030 LEO and other non-GEO HTS Other c.2% +14% +37% +15% -16% | 13#14AGENDA 1. Compelling market opportunity 2. Eutelsat and OneWeb: a powerful combination 3. Strong value creation and robust financial profile 4. Attractive transaction terms 5. Concluding remarks | 14#15EUTELSAT: A LEADING GLOBAL GEO OPERATOR ► €1.2bn revenues LEADING GEO OPERATOR WITH ROBUST FINANCIAL PROFILE AND STRONG EUROPEAN DNA ► ~75% EBITDA margin ► €440m DFCF ► 3.3x net leverage ► 3.5y revenue backlog Based on FY 2021-22 financials STRONG PORTFOLIO OF ORBITAL RIGHTS GLOBAL FLEET WORLD CLASS TECHNICAL TEAM AND CAPABILITIES DEEPLY ROOTED COMMERCIAL NETWORK WELL-ESTABLISHED EUROPEAN LEADER UNPARALLELED PORTFOLIO OF CUSTOMERS Global portfolio of GEO orbital positions with strength over the crowded EMEA arc Encompassing Ku, Ka and C-Band 36 GEO satellites currently in orbit 5 new satellites in the pipeline providing enhanced HTS/VHTS capabilities 500+ multinational technical engineers recognized as world experts in their field Wide-ranged expertise in satellite engineering, programme management and regulatory Robust ground network including access to > 60 teleports as well as 3 data centers 100+ multi-disciplinary sales executives and 150+ presales and sales support, with worldwide presence On-the-shelf integrated distribution platform for connectivity: Advance Strong institutional relationships in Europe and globally Longstanding partnership with European space industry telenor maritime ThalesAlenía Space speedcast ANUVU Panasonic Panasonic Avionics Corporation AIRBUS Te TotalEnergies TRETMENL IW IFEND S BericE BHUVI BT Telefonica vodacom orange AT&T European Global Navigation Satellite Systeme Agency | 15#16ONEWEB: TRULY GLOBAL LEO CONSTELLATION One of only two global LEO networks in service, with significant time advantage to other potential competitors coming to market ► 648 satellites at c.1,200 kms 1.1 Tbps of sellable capacity Strong spectrum priority rights ► Support from high-profile institutional investors SoftBank Hanwha 18% HM Government Others 9% 18% 3% 30% 23% bharti LEO CONSTELLATION WITH GLOBAL COVERAGE EUTELSAT PRIORITY SPECTRUM RIGHTS EARLY MOVER ADVANTAGE, TRULY GLOBAL COVERAGE GEN-1 ALREADY FUNDED SCALABLE TECHNOLOGY COMMERCIAL 6 GHz of globally harmonized bandwidth secured from ITU Highest priority in Ku-band ahead of any other player One of only two LEO constellations to offer truly global coverage by end-2023 13 launches completed with 2/3 of the fleet now in orbit Uninterrupted service and access to untapped markets $6.3bn already raised for Gen-1 Already serving customers above 50° North. Expected to be fully operational by end 2023 Gen-2 to provide more capacity at a significantly reduced cost with enhanced operational flexibility Numerous distribution partnerships secured across multiple verticals AT&T BT MARLINK LEONARDO ORS HUGHES An EchoStar Company gogo AIRBUS BUSINESS AMATION First substantial firm precommitment with NEOM in MENA ●●● Telefónica navarino Global Solutions | 16#17A SUCCESSFUL PARTNERSHIP STARTED IN APRIL 2021 Eutelsat's investment and partnership with OneWeb validated the business case for full integration ə INITIAL INVESTMENT IN APRIL 2021 Initial $550m investment announced in April 2021 followed by a $165m call option exercised in October, both closed ¹ Eutelsat is the second-largest shareholder of OneWeb with a 22.9% stake Eutelsat well represented in the governance of OneWeb with 3 board seats DISTRIBUTION AND COMMERCIAL PARTNERSHIPS SIGNED IN 2022 Distribution partnership signed in March 2022 to address key connectivity verticals deepening cooperation Exclusive commercial partnership signed today addressing mainly European and global cruise vertical JOINT TECHNICAL AND REGULATORY WORKSTREAMS ALREADY LIVE Shaping the future of satellite network from hybrid GEO-LEO infra and working jointly on Gen-2 design Considering possible mutualization of certain investments Leveraging Eutelsat institutional relationships and regulatory know-how to accelerate OneWeb market access Eutelsat-OneWeb coordination agreement signed (1) $165m call option exercised in October 2021 ($150m call option and $15m premium paid to Bharti), of which $30m called as of Dec-21 and remaining $135m to be called in upcoming quarters | 17#18POWERFUL BUSINESS AND FINANCIAL COMPLEMENTARITY VIDEO B2B CONNECTIVITY B2C CONNECTIVITY (1) Medium-term projection (~FY 2024-25) REVENUE CONTRIBUTION¹ 40% 50% 10% DESCRIPTION → DTH Broadcast → Professional Video Fixed Data → Government Services → Mobile Connectivity → Fixed Broadband access for individuals and SMES REVENUE TREND Low to mid single digit Double digit Double digit SHORT-TERM CASH GENERATION E 22 ))) LONG-TERM CASH GENERATION OS fo OS ADRESSED BY GEO GEO + LEO GEO LEO | 18#19COMBINING GEO/LEO: DISRUPTIVE VALUE PROPOSITION FROM DAY 1 GEO AERO ► Capacity density ► High throughput at unparalleled cost Important installed base Need for high throughput around hubs requiring GEO density Service continuity requiring LEO ubiquity + CRUISE LEO LEO + GEO the best solution for multiple use cases Demand surge at peak times requiring GEO density Global coverage Access to untapped market pockets ► Low latency Uninterrupted service ▸ Service continuity requiring LEO ubiquity O&G Group of platforms creating peaks in demand better served by GEO ▸ LEO providing low latency for sensitive apps and ubiquity Complementary capacities enhancing network resilience and improving quality of service | 19#20INTEGRATION ROADMAP UNLOCKING NEW USE CASES Live today Resale of LEO capacity by Eutelsat (stand-alone product) 1 2 End 2022 Bundled LEO/GEO packages sold to customers 2 to 3 years Mutualized network, tools and next-gen antennas 3 4 Gen-2 fully operational Fully integrated offers with intelligent routing ENTERPRISE Construction, mining, agriculture... Transportable LEO/GEO terminals allowing to address high-capacity needs with low latency LEO/GEO backup for improved resilience LAND MOBILITY Cars, trains, buses... Integrated terminal ensuring service continuity and improved signal availability with LEO High-throughput needs addressed with GEO solutions CONSUMER BROADBAND Consumers & Community WiFi Real plug & play terminals, for consumers and Community ISPs Optimization of QoS with intelligent traffic routing on hybrid LEO/GEO network | 20#21HYBRID GEO/LEO INFRASTRUCTURE REDUCING CAPEX GEO satellites Eutelsat LEO satellites OneWeb 00 CAPEX OPTIMIZATION POTENTIAL: Right-sizing of Gen-2 High volumes of connectivity demand focused in specific geographical areas ~70% of the internet traffic comes from video, well suited for GEO (mostly forward and not latency-sensitive) ► GEO satellites can complement LEO with targeted capacity over high demand areas ► Optimized constellation requiring fewer total satellites in combined fleet with higher fill rates Interoperable terminals for reception for seamless network use and improved user experience Hybridizing GEO and LEO systems holds the promise of an optimized infrastructure | 21#22REINFORCING OUR KEY ESG OBJECTIVES Bridging the digital divide Enhancing our reach: ✓ Combining assets and know-how to extend our current reach ✓ LEO/GEO combination opening up new means to address the world's digital white zones "This combination fast-tracks our mission to deliver connectivity that will change lives at scale." (Neil Masterson, CEO OneWeb) TÉLÉCOMS SANS FRONTIÈRES Communications for life NETHOPE Protecting the environment and space Strong environmental benefit: ✓ Fleet optimization by both entities leading to efficiency in the number of satellites and launches Optimization of existing ground and other infrastructures Coordination on our efforts on regulatory aspects of space environment ISO 9001 01010011010 SPACE DATA 10 ASSOCIATION PARIS PEACE FORUM PARIS PAIX | 22#23AGENDA 1. Compelling market opportunity 2. Eutelsat and OneWeb: a powerful combination 3. Strong value creation and robust financial profile Attractive transaction terms 4. 5. Concluding remarks | 23#24POSITIONING EUTELSAT FOR DOUBLE DIGIT REVENUE AND EBITDA GROWTH FY23PF Outlook All figures assuming June year end SALES c.€1.2bn (40% Connectivity) Low double digit CAGR over the next decade driven by Connectivity Connectivity ~60% Video ~40% EBITDA c.€0.7bn (c.60% margin) Targeting mid teens CAGR over the medium to long term, outpacing sales growth Margins gradually in line with best-in-class GEO standards EBITDA - CAPEX c.€ (0.2)bn Back in positive territory in FY25- FY26 depending on Gen-2 capex phasing LEVERAGE c.4.0x c.3.0x in the mid-term Disciplined financial policy focusing on growth and deleveraging in the short-term Dividend suspended in FY23 & FY24 | 24#25INVESTMENT PLAN SUPPORTED BY STRONG CASH FLOW GENERATION Eutelsat Limited maintenance needs 5 satellites under procurement already partly paid Only 1 Video hotspot requiring replacement in the short-term Flexsats enabling reduced investment in OneWeb Gen-2 Gen-1 (1) Including synergies Roll-out secured Total investment amounting to ~$6.3bn OneWeb Usable network capacity > 1.1 Tbps Global coverage by end calendar year 2023 Gen-2 Further enhancements ►Multi-Tbps capacity Cost per Gbps reduced by several times Increased flexibility leading to higher fill factor Extended lifetime Capex outlook for the combined entity¹ ► Average of €725 - 875m p.a. over FY24 - FY30 Eutelsat and OneWeb cash flow generation supporting high-return network investments ► Front-end loaded in the earlier part of the period 25#26MASSIVE VALUE CREATION FROM SYNERGIES REVENUE SYNERGIES COSTS SYNERGIES CAPEX SYNERGIES NPV OF SYNERGIES Management estimates Average expected annual revenue synergies of c. €150m from Year 4 Annual expected run-rate pre-tax cost synergies over €80m from Year 5 Average expected annual capex synergies of c. €80m from Year 1 over €1.5bn after tax net of implementation costs Unique hybrid GEO/LEO offerings providing differentiating value to customers Integrated and hybridized GEO/LEO network leading to improved fill rate Optimized cost structure Mostly driven by cost avoidance at OneWeb: low implementation cost and execution risk Leveraging Hybrid GEO/LEO satellite infrastructure ► Procurement synergies Low execution risk Balanced between Revenue, Costs and Capex synergies I 26#27AGENDA 1. Compelling market opportunity 2. Eutelsat and OneWeb: a powerful combination 3. Strong value creation and robust financial profile 4. Attractive transaction terms 5. Concluding remarks | 27#28KEY TERMS OF THE TRANSACTION Memorandum of Understanding signed for the contribution by OneWeb's shareholders of their stake in OneWeb to Eutelsat, in exchange for newly issued Eutelsat shares The transaction values OneWeb at $3.4bn implying a value of €12 per Eutelsat share (including the dividend, before synergies) • Current OneWeb shareholders would hold 50% of Eutelsat enlarged share capital at announcement¹ Prior to completion, Eutelsat will pay an ordinary dividend of €0.93 per share in Nov. 2022, with option for shareholders to receive their dividend in shares ● Full support from OneWeb shareholders and Eutelsat reference shareholders Transaction unanimously approved by the Boards of Directors of Eutelsat and OneWeb Undertakings from Bpifrance and FSP to vote in favor of the transaction at Eutelsat's EGM, subject to usual conditions CMA CGM, a shareholder of Eutelsat, is also supporting the combination ● ● Efficient structure for a smooth integration . Combined entity name: Eutelsat Eutelsat would continue to be headquartered and domiciled in France Eutelsat would continue to be listed on Euronext Paris and would apply for admission for a standard listing on the London Stock Exchange OneWeb to continue to operate its LEO business, trading under existing name with headquarters to remain in the UK • Activities integration over 12 months post transaction to deliver synergies UK Government to retain "exclusive reserved rights" in respect of OneWeb by virtue of its special share ● ● ● (1) Based on the share capital of Eutelsat as of today | 28#29BALANCED SHAREHOLDING STRUCTURE AND GOVERNANCE Chairman ("Président") BOARD OF DIRECTORS¹,4 Dominique D'Hinnin Current Eutelsat Chairman 10 independent members² (incl. Chairman) Strategy Non-Executive Directors 1 Bpifrance representative 2 Bharti representatives (incl. Sunil Bharti Mittal) 1 HMG representative Nomination & Governance Board committees Compensation Co-chairman ("Vice-président") Sunil Bharti Mittal Current One Web Executive Chairman Executive Director Audit, Risk & Compliance Eva Berneke CEO of Eutelsat Corporate & Social Responsibility EUTELSAT PRO FORMA SHAREHOLDING³ bpifrance Eutelsat Free float 36% 10% FSP 4% 19% 6% 3% Other OneWeb shareholders bharti 11% 11% HM Government SoftBank Hanwha (1) Board of Directors to consist of 15 persons, including Chairman and Co-chairman: Two directors proposed by Bharti, including Sunil Bharti Mittal to be Co-chairman, One director proposed by Bpifrance, One director proposed by HMG, The current CEO of Eutelsat, One independent director proposed by SoftBank, One independent director proposed by Hanwha, Two independent directors proposed by OneWeb, One independent director proposed by FSP, Four independent directors proposed by the Eutelsat Board, three of them to be selected from among the existing Eutelsat directors, the current chairman of Eutelsat (independent) (2) Board of Directors to comprise 10 independent directors within the meaning of Afep-Medef Code (3) Before potential impact from scrip dividend to be distributed in November 2022. It is contemplated that, post-closing, a shareholder agreement between Eutelsat key shareholders and OneWeb key shareholders which does not qualify as a concerted action be in place. It would in substance provide for the right for each party to propose 1 director (if its shareholding is at least 7.5%) and 2 directors (if its shareholding is at least 15%), as well as a 6-month lock up period. (4) Other attendees: 1 censeur (Executive Secretary of Eutelsat IGO); CEO of One Web as permanent invitee; 2 employees' representatives. Women to represent 40% of Board Members as per French law, i.e. 6 members out of 15 1 29#30INDICATIVE TRANSACTION TIMELINE ● ● 25 July 2022 Signing of the MoU and public announcement ● By the end of H1 2023 • Extraordinary General Meeting of Eutelsat to approve the transaction Closing ► Closing of the transaction expected early 2023, conditional upon: Signing of definitive agreements, subject to consultation of Eutelsat's employee representatives and approval by Eutelsat's Board Customary regulatory and antitrust approvals Eutelsat EGM approval Approval from the French stock market authority on the prospectus ● Q4 2022 / Q1 2023 • Antitrust and regulatory authorizations Note: calendar years I 30#31AGENDA 1. Compelling market opportunity 2. Eutelsat and OneWeb: a powerful combination 3. Strong value creation and robust financial profile 4. Attractive transaction terms 5. Concluding remarks | 31#32A TRANSFORMATIONAL COMBINATION FOR SUCCESS Creation of a unique, global leader in Connectivity with world-class assets Underpinned by strong operational and financial complementarity Addressing massive growth opportunity across key verticals and markets Delivering double-digit revenue and EBITDA growth over the medium to long term Over €1.5bn expected net incremental value creation from revenue, capex and cost synergies UNIQUE INVESTMENT OPPORTUNITY IN THE EUROPEAN LISTED TELECOM UNIVERSE | 32