Satellite Connectivity Market Opportunity

PROFITABILITY ➤FY 2022-23 Adjusted EBITDA margin of 72.9% at constant currency 1 down 1.9 point YoY Lower revenues, especially in the Video vertical ► Higher operating costs • 862 Adjusted EBITDA (€m) 825 Increased staff and technical costs due changing revenue mix and, to a lower extent, inflation Margin at constant currency 74.8% 72.9% Transaction costs with Russia ▸ Adjusted EBITDA margin reflecting progressive rebalancing of our business towards connectivity applications 173.0% reported. EUTELSAT FY 2021-22 FY 2022-23 | 55

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