Echostar Corporation · NASDAQ:SATS
Echostar — Merger or Acquisition (August 2023)
13 slides from Echostar's merger presentation, Aug 8, 2023
Slide 1: Creating a Global Connectivity Leader
CREATING A GLOBAL CONNECTIVITY LEADER August 2023
Slide 2: Disclaimer: Forward-Looking Statements
2 DISCLAIMER Forward - Looking Statements This document contains forward - looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, th e accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove t o
Slide 3: Strategically Compelling and Financially Attractive Combination
3 STRATEGICALLY COMPELLING AND FINANCIALLY ATTRACTIVE COMBINATION Source: DISH filings and EchoStar filings Enhances financial flexibility and liquidity to achieve growth objectives Expected to generate ~$150mm of clear, achievable cost and revenue EBITDA synergies Creates scaled operator with broad
Slide 4: Transaction Summary
4 TRANSACTION SUMMARY Transaction structure • All - stock merger; each EchoStar Class A , Class C or Class D share will convert into 2.85 shares of DISH Class A; each EchoStar Class B share will convert into 2.85 shares of DISH Class B • Represents premium to EchoStar shareholders of 12.9% to exchan
Slide 5: Creates Scaled Operator with Broad Capabilities
5 CREATES SCALED OPERATOR WITH BROAD CAPABILITIES + Award - winning consumer connectivity business • ~18mm subscribers 1 • 570,000 sites supported • Services in 43 countries Leading global enterprise connectivity services and systems America ’ s first O - RAN 5G broadband network • 246mm Americans c
Slide 6: Diversifies and Enhances Portfolio of Connectivity Businesses
6 COMBINED $12,505 66.9% $4,135 22.1% $1,200 6.4% $798 4.3% $66 0.4% Pay-TV Retail Wireless Consumer Enterprise and Other 5G Network Deployment ($mm, before adjustments and without synergies) DIVERSIFIES AND ENHANCES PORTFOLIO OF CONNECTIVITY BUSINESSES Source: DISH filings and EchoStar filings Note
Slide 7: Establishes Scaled Consumer Connectivity Leader Focused on Value
7 ESTABLISHES SCALED CONSUMER CONNECTIVITY LEADER FOCUSED ON VALUE # 1 in customer satisfaction 1 Innovative tech & equipment Optimized content costs High quality customer base 8.9mm subscribers # 1 satellite ISP 2 JUPITER 3 capacity Low - latency technology offering 1.1mm subscribers Smart 5G TM ne
Slide 8: Amplifies 5G Private Network Opportunity
8 AMPLIFIES 5G PRIVATE NETWORK OPPORTUNITY Nationwide spectrum portfolio built for private networks: 600 MHz 3.45 – 3.55 GHz CBRS 55,000 managed SD - WAN sites to date 5 decades of network experience Named in Gartner ® Magic Quadrant TM for Managed Network Services for three years 1 5G O - RAN netwo
Slide 9: Prior Investments Position the Company for Future Growth
9 PRIOR INVESTMENTS POSITION THE COMPANY FOR FUTURE GROWTH • Deployment of DISH ’ s 5G Network is completed to >70% of US with rest covered through long - term roaming relationships • Full commercialization and subscriber loading of DISH 5G Network underway • JUPITER 3 successfully launched, with si
Slide 10: Significant and Achievable Cost and Revenue Synergies
10 SIGNIFICANT AND ACHIEVABLE COST AND REVENUE SYNERGIES COST and CAPEX SYNERGIES ~$75mm Run - rate OpEx and CapEx synergies • Combined 5G - satellite broadband private network with best - in - class capabilities • Expanded government services using Whidbey Island model • Additional sales opportunit
Slide 11: Strengthens Capital Structure and Enhances Liquidity
11 STRENGTHENS CAPITAL STRUCTURE AND ENHANCES LIQUIDITY Current cash position Unencumbered spectrum • DISH: $1.8bn as of Q2 ’ 23 • EchoStar: $1.9bn as of Q2 ’ 23 Other potential sources • >$35bn market value 1 of unencumbered spectrum 2 • Over $10bn of spectrum financing capacity assuming recent tra
Slide 12: Strategically Compelling and Financially Attractive Combination
12 STRATEGICALLY COMPELLING AND FINANCIALLY ATTRACTIVE COMBINATION Source: DISH filings and EchoStar filings Enhances financial flexibility and liquidity to achieve growth objectives Expected to generate ~$150mm of clear, achievable cost and revenue EBITDA synergies Creates scaled operator with broa
Slide 13: Creating a Global Connectivity Leader
CREATING A GLOBAL CONNECTIVITY LEADER August 2023