Q1 2025 Eutelsat Communications SA Corporate Sales Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Roshan Ranjit - Deutsche Bank - Analyst : Great. Evening everyone. Thanks for the questions. I've got three, please. First one, just to quickly follow up on the previous one around video, you highlight the professional video impact this quarter. Is that having a bit more of a pronounced decline on the overall video trend, would you say? Or how come you, I guess flagging that given that the renewals of the core video business were seem to be quite strong. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. OCTOBER 29, 2024 / 5:30PM, ETL.PA - Q1 2025 Eutelsat Communications SA Corporate Sales Call Secondly, on fixed connectivity you highlight the ramp up of the Neon contract. I think that contributed in last quarter. Is it possible to get a sense of the ramp up quarter of quarter within, within that contract, please? And lastly, we saw one of your peers win quite a few inflight contracts over the last few quarters or few weeks, I should say. Particularly one with Air France. I appreciate you guys use a different go to market approach with, with resellers and your wholesale model. But it would be interesting to know whether your kind of reseller partners did tender for that Air France contract and any feedback you can give as to why you the competitor one over your offering would be very helpful. Thank you.

Question: Roshan Ranjit - Deutsche Bank - Analyst : That's very helpful. Thank you. And just on the last point around, go to mortgage approach, could that be reviewed? Could you envisage a scenario where you use both resellers and maybe go a direct approach?

Question: Roshan Ranjit - Deutsche Bank - Analyst : Got it. Thank You. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. OCTOBER 29, 2024 / 5:30PM, ETL.PA - Q1 2025 Eutelsat Communications SA Corporate Sales Call

Question: Stephane Beyazian - ODDO BHF - Analyst : Yeah. Thank you. Good evening everyone. I've got three questions if, if that is possible. The first one is regarding IRIS2. If you could update us a little bit, it seems that there has been a little bit of progress there. And I think my bottom-line question there is, is there a scenario where IRIS2 can reduce or even perhaps replace the need for you to that, to build a Generation 2 one way the constellation. My second question is, also on one web. Could you give us an idea of the percentage of contracts from the other book that are already invoiced versus the ones that are not activated? Yet, I guess what I'm trying to understand here is whether they will, there will be a jump in the revenues over the next six months as you finalize the, the constellation and, and it is fully up and running and, and whether therefore we should have an acceleration in the revenues being billed by OneWeb. And my third question, I if that's possible to push a little bit on the ground in for a deal. I know, obviously, you know, the closing is surely not in the very near term, but nevertheless, you've worked out at some stores already. Can you tell us a little more about the living cost, the net impact, you know, between some cost that will no longer be with you, but also the, the living cost, you know, what sort of net impact you're expecting and, and whether you will how you will be accounting for the leasing, whether that will be in your P&L or will just be in the casual statement any flavor. And even if you know, not everything is finalized just yet. That'd be, that'd be super useful. Thank you very much.

Question: Stephane Beyazian - ODDO BHF - Analyst : And do you have an sorry Oh, sorry. And if I can just push a little lead on that, do you have an idea? Because I know that the one where constellation is not fully up and running and probably that is also a reason why not everything is, is just yet being serviced. Do you have a, an idea or is there a specific quarter where we could see a big jump in the number of contracts that are activated and bill if you see what I'm trying to, to say. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. OCTOBER 29, 2024 / 5:30PM, ETL.PA - Q1 2025 Eutelsat Communications SA Corporate Sales Call

Question: Stephane Beyazian - ODDO BHF - Analyst : Okay. That's fair enough. Thank you very much for your answers.

Question: Ben Rickett - New Street Research - Analyst : Hi Christos and thank you for the question. I just had two follow up questions, please. So firstly, your connectivity backlog is pretty stable at around [EUR2.1 billion] are you able to quantify how much that is OneWeb? And also can you say anything generally about whether the OneWeb backlog has been growing? Have you signed contracts since the Intelsat contract? And then second question, just trying to understand the revenue growth trends. So your connectivity revenue is growing 25% on a like for like basis. But within that is geo connectivity revenue also growing. And can you, can you help us quantify that growth? Thank you.

Question: Ben Rickett - New Street Research - Analyst : Exactly, I'm just trying to understand whether GEO connectivity is growing?

Question: Ben Rickett - New Street Research - Analyst : Okay, thank you both.

Question: Roshan Ranjit - Deutsche Bank - Analyst : Great. Thank you very, very quick. Just on the mobility part of the business, you highlight in the slide, a good performance in GEO notably in aviation. Could you give us some more details there is that Business Aviation or is this kind of a new maybe growth area which we can expect a contribution in the coming quarters? And secondly, can you just remind us where we are with the RFPs? Because you had sent RFPs out, I think at the beginning of the year again, I appreciate you highlighted last quarter that the gen two plan is in flux as we're waiting to crystallize the, the details of IRIS squared. But are, are those RFPs on hold or what are your kind of partners saying about that? Thank you. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. OCTOBER 29, 2024 / 5:30PM, ETL.PA - Q1 2025 Eutelsat Communications SA Corporate Sales Call

Question: Roshan Ranjit - Deutsche Bank - Analyst : Is that, is that like Business Aviation then? What is it, who is the end customer. What is the customer?

Question: Roshan Ranjit - Deutsche Bank - Analyst : Thank you. And just on the RFPs is there an update there?

Question: Roshan Ranjit - Deutsche Bank - Analyst : Great. Thank you very much. Stephane Beyazian, ODDO BHF.

Question: Stephane Beyazian - ODDO BHF - Analyst : Very good. Thank you.