#1EUTELSAT GROUP FIRST QUARTER 2023-24 REVENUES 26 October 2023 2 EUTELSAT GROUP Ⓒ2023 Eutelsat Group. All rights reserved. C#2Key Events 2 EUTELSAT GROUP Ⓒ2023 Eutelsat Group. All rights reserved. C#3Highlights 2 EUTELSAT GROUP Ⓒ2023 Eutelsat Group. All rights reserved. Operating Verticals down -2.4% like-for-like on a year-on-year basis, up +2.9% on a sequential basis¹ Continued robust double-digit growth in Mobile Connectivity on the back of strong commercial momentum Commercialization of the final beam of EUTELSAT QUANTUM. All of the satellite's capacity is now commercialized, just 18 months following its entry into service Successful entry into service of the EUTELSAT KONNECT VHTS satellite, driving connectivity growth with 500 Gbps of incremental capacity and firm commitments totalling c. €450m Eutelsat/OneWeb combination project approved on 28 September 2023 Further strong commercial momentum at OneWeb; backlog close to $1.0bn, up 66% year-on-year All financial objectives for Eutelsat Group are confirmed; they replace Eutelsat standalone objectives (1) excluding a one-off contract booked in Government services in Q4 FY2022-23 3#4Record commercial performance by EUTELSAT QUANTUM EUTELSAT QUANTUM fully commercialized Software-defined satellite with real-time adaptability to address customers' business needs, including in-orbit full reconfiguration and beam customization Final beam commercialized in the summer of 2023 All of the satellite's capacity is now commercialized, just 18 months after its entry into service, a record ramp-up for a fully incremental satellite A balanced commercial profile, with four beams serving Government Services and four in Mobility 2 EUTELSAT GROUP Ⓒ2023 Eutelsat Group. All rights reserved. EUTELSAT QUANTUM 4#5Successful entry into service of EUTELSAT KONNECT VHTS a KONNECT VHTS 2 EUTELSAT GROUP Ⓒ2023 Eutelsat Group. All rights reserved. Driving connectivity growth Most advanced very high-throughput satellite (VHTS) system to support the development of our European Connectivity businesses With a Ka-band incremental capacity of 500 Gbps, making it the largest ever European geostationary satellite Embarking the most powerful on-board digital processor ever put in orbit, offering capacity allocation flexibility, optimal spectrum use, and progressive ground network deployment c. €450m of firm pre-commitments, namely from Orange, Telecom Italia and Thales Alenia Space, underpinning revenue growth objectives in the coming years 5#6Eutelsat / OneWeb Combination is now live OneWeb secured backlog ($m)" April-22 600 July-22 October-22 January-23 (1) Including the $275m Take-or-Pay Agreement with Eutelsat. EUTELSAT GROUP Ⓒ2023 Eutelsat Group. All rights reserved. April-23 +$400m since October 2022 c. 1000 July-23 0000 in OXO Approval of the combination on 28 September 2023 Strong synergy potential to be tapped from Day 1 Continued commercial momentum for LEO-based connectivity solutions On track to reach global coverage by year-end Already generating revenues across several verticals, such as Data and Government 6#7Operational performance 2 EUTELSAT GROUP Ⓒ2023 Eutelsat Group. All rights reserved. C#8First Quarter 2023-24 revenues Total revenues of €274m, down -0.8% like-for-like Negative currency effect ● €/$ rate of 1.09 vs 1.02 last year Positive swing of €5m in 'Other Revenues' Of which €5m related to hedging Revenues of the Operating Verticals down 2.4% like- for-like YoY 2 EUTELSAT GROUP Ⓒ2023 Eutelsat Group. All rights reserved. 287 (8) Q1 YoY revenue bridge (€m) (3) Q1 2022-23 Currency Perimeter reported 5 Change in Other Revenues ¹ Including Hedging revenues representing a €5m impact 1 (7) -2.4% Operational trend 274 Q1 2023-24 reported 8#9Q1 revenues by application. VIDEO GOVERNMENT SERVICES MOBILE CONNECTIVITY FIXED CONNECTIVITY REVENUE CONTRIBUTION 1 TOTAL OPERATING VERTICALS OTHER REVENUES 60% 12% 13% 15% EUTELSAT GROUP Ⓒ2023 Eutelsat Group. All rights reserved. REVENUES (€m) 164 34 35 40 273 2 LIKE-FOR-LIKE2 YOY CHANGE -9.5% +1.1% +44.1% -2.6% -2.4% €5m³ 1 Share of each application as a percentage of total revenues excluding "Other Revenues". 2 Change at constant currency. The variation is calculated as follows: i) Q1 2023-24 USD revenues are converted at Q1 2022-23 rates; ii) the contribution of Big Blu retail broadband operations from 1st July 2022 to 30 September 2022 is excluded from Q1 2022-23 revenues; iii) Hedging revenues are excluded. 3 Of which €5m related to hedging revenues. 9#10Video Q1 revenues of €164m, down 9.5% YoY like-for-like¹ Impact of the early non-renewal of the Digitürk contract from mid- November 2022 ● Effect of sanctions against certain Russian and Iranian channels Lower occasional use in Professional video Revenues down 3.4% QOQ Lower revenues in Europe ● Over the Full-Year, mid-single digit decline Excluding the effect of Russian and Iranian sanctions, embarked for a full 12 months vs six months in FY 2022-23 2 EUTELSAT GROUP Ⓒ2023 Eutelsat Group. All rights reserved. Q4 Q3 Q2 Q1 705 170 169 182 184 FY 2022-23 164 FY 2023-24 1 At constant currency and perimeter Q1 60% 10#11Government Services. Q1 revenues of €34m, up 1.1% YoY like-for-like¹ Contribution of the EGNOS GEO-4 contract on HOTBIRD 13G Revenues down 25.2% QOQ One-off contract of €14m with the German space agency, DLR, booked in Q4 FY 2022-23 Excluding this impact, +9.5% QoQ like-for-like Increasing traction with European customers ● Over the Full Year, revenues will benefit from the EGNOS GEO-4 contract, set to generate €100m in revenues over 15 years 2 EUTELSAT GROUP Ⓒ2023 Eutelsat Group. All rights reserved. Q4 Q3 Q2 Q1 144 45 31 32 35 FY 2022-23 34 FY 2023-24 1 At constant currency and perimeter Q1 12% 11#12Mobile connectivity Q1 revenues of €35m, up 44.1% YoY like-for-like¹ Commercialization of the final beam on EUTELSAT QUANTUM for a maritime mobility client Entry into service of EUTELSAT 10B, with significant pre- commitments and recent deals, especially in Maritime, such as the multi-year, multi-million contract with Marlink Revenues up by 29.8% QOQ Double-digit growth expected over FY 2023-24 Strong demand for both GEO and LEO based connectivity solutions 2 EUTELSAT GROUP Ⓒ2023 Eutelsat Group. All rights reserved. Q4 Q3 Q2 Q1 110 27 27 30 26 FY 2022-23 35 Q1 FY 2023-24 1 At constant currency and perimeter 13% 12#13Fixed connectivity Q1 revenues of €40m, down 2.6% YoY like-for-like¹ Wholesale agreements with Orange, TIM, Hispasat and Swisscom fully embarked Revenues up by 6.5% QOQ Set to deliver double-digit growth over the Full Year ● Resale of OneWeb capacity for data usages in Alaska ● Entry into service of KONNECT VHTS Contribution from LEO connectivity offers 2 EUTELSAT GROUP Ⓒ2023 Eutelsat Group. All rights reserved. Q4 Q3 Q2 Q1 178 41 44 47 46 FY 2022-23 40 FY 2023-24 1 At constant currency and perimeter Q1 15% 13#14Backlog Broadly stable versus end-June 2023 Consumption of the Video backlog, in the absence of major renewals, compensated by strong commercial momentum in Connectivity Representing 3.0 years of revenues Video accounting for 57% versus 63% a year ago 2 EUTELSAT GROUP Ⓒ2023 Eutelsat Group. All rights reserved. Of which Video 3.9 63% BACKLOG (€BN) Excluding Managed services 3.4 59% 30 Sept. 2022 30 June 2023 3.4 57% 30 Sept. 2023 14#15Outlook 2 EUTELSAT GROUP Ⓒ2023 Eutelsat Group. All rights reserved. C#16Eutelsat Group Financial Objectives confirmed S GROUP REVENUES EUTELSAT GROUP Ⓒ2023 Eutelsat Group. All rights reserved. ADJUSTED EBITDA CASH CAPEX Note: This outlook is based on a €/$ rate assumption of 1.00 and current perimeter and on the nominal deployment plan outlined below. It assumes no further material deterioration of revenues generated from Russian customers. LEVERAGE Between €1.32-1.42bn in FY 2024, ► Between €1.55-1.75bn in FY 2025, ► Circa €2.0bn in FY 2027 Between €725-825m in FY 2024, Between €900m-1.1bn in FY 2025, ► Circa €1.4bn in FY 2027 €725-875m per annum on average, over the period FY 2024 to FY 2030, after synergies ► Medium-term net debt / EBITDA ratio of c. 3x 16#17Upcoming launches Orbital Position Approx. Entry into service date¹ Manufacturer Coverage Applications Total capacity (TPX2/Spotbeams) o/w expansion ² 1 Calendar year 2 Excludes unannounced redeployments 2 EUTELSAT GROUP Ⓒ2023 Eutelsat Group. All rights reserved. EUTELSAT 36D 36° East H2 2024 AIRBUS DEFENCE & SPACE Africa, Russia, Europe, Middle East Video Government 70 transponders in Ku-band UHF payload UHF payload FLEXSAT AMERICAS 2026 (delivery) ThalesAlenía Space Americas Connectivity Over 100 Gbps 17#18Q&A 2 EUTELSAT GROUP Ⓒ2023 Eutelsat Group. All rights reserved. C