Telesat Investment Highlights

Telesat Lightspeed delivers enterprise-class service to key market verticals that lack high-performing broadband Enterprise/Terrestrial US$292B TAM 2032 Maritime US$5B TAM 2032 Aviation US$17B TAM 2032 Government US$6B TAM 2032 2032 Telesat rev. estimate: ~US$1.4B (~.5% of TAM) ▲ Providing high throughput backhaul for fixed and mobile (3G/4G/5G) networks serving rural and remote communities, enterprises and public safety users ▲ Backhaul to wireless towers where fiber does not exist 2032 Telesat rev. estimate: ~US$0.5B (~10% of TAM) A Cruise & Yacht: High quality broadband for passengers, crew ▲ Concentrated capacity at ports ▲ Energy and Merchant Ships: ship-to-shore operations; crew welfare ▲ Global coverage 2032 Telesat rev. estimate: ~US$0.8B (~5% of TAM) Commercial aircraft and business jets: high quality broadband at every seat; flight operations Concentrated capacity at large airport hubs ▲ Global coverage 2032 Telesat rev. estimate: ~US$0.5B (~8% of TAM) ▲ Ships, aircraft (manned and unmanned), military vehicles, and bases Low latency, global coverage and true end-to-end encryption ▲ Distributed, redundant and self- healing mesh network able to bypass terrestrial networks TELESAT. 2032 TAM; Source: ITU, International Civil Aviation Organization, UNCTAD, NSR, International Defense Budgets, US Department of Defense Budgets, Management's analysis and estimates 11

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