FIRST HALF 2021-22 RESULTS

• Operating vertical revenues down -4.2% like-for-like; full year revenues now expected in the lower half of the guidance range
• Robust profitability with 76.1% EBITDA margin
• Further high level of Free Cash-Flow generation
• Delayed availability of growth assets leading to mechanical revision of medium-term revenue objectives
• Discretionary Free-Cash-Flow objectives and dividend policy confirmed
• Return to growth expected in FY 2023-24

Paris, 17 February 2022– The Board of Directors of Eutelsat Communications (ISIN: FR0010221234 / Euronext Paris: ETL), chaired by Dominique D’Hinnin, reviewed the financial results for the Half Year ended 31 December 2021.

Commenting on the First Half, Eva Berneke Chief Executive Officer of Eutelsat Communications, said: “This has been a satisfactory First Half in financial terms, with strong free cash flow generation and a further industry leading EBITDA margin, despite the decline in revenues, testifying to our fundamentally robust business model and stringent financial discipline. The First Half has seen a number of important commercial and operational milestones, notably with the entry into service of EUTELSAT QUANTUM, strong progress on our Fixed Broadband roll-out, the cementing of our position in OneWeb and the receipt of the first tranche of our C Band proceeds. Newly at the helm, I am impressed by the technical expertise, asset quality and long-term commercial traction within Eutelsat. Although we have mechanically revised down our medium-term revenue expectations on the back of delayed availability of capacity, I am confident we have the elements in place to enable us to return to growth from FY 2023-24 and continue to deliver long-term value to our shareholders.”

[1] Please refer to Appendix 3 for definition and calculation.