Eutelsat Satellite Connectivity Market Opportunity and Financial Highlights

EUTELSAT BUSINESS CHARACTERISTICS High barriers to entry Finite resource of orbital positions and frequencies, heavily regulated at international level with key commercial orbital positions already into use ►High upfront CAPEX before operations ▸ High technology and technical expertise through satellite lifecycle Profitable business model ► Significant backlog with long-term contracts Economies of scale ► High operating margins Predictable operating cash flow

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