Slide 1: HSSC Management Plan Information Presentation
Confidential HSSC Management Plan Confidential Information Presentation 23 June 2026 | Hughes Network Systems
Slide 2: Global SatCom leader supported by proprietary technology, global scale and visible growth trajectory
Confidential 1 Global SatCom leader supported by proprietary technology, global scale and a visible growth trajectory Hughes 2030 Vision Leading U.S.-based provider of resilient connectivity solutions (GEO, LEO, terrestrial, wireless) with over $1.4bn of revenue and >$200m of operating cash flow
Slide 3: Hughes: Scaled, Technology-Forward, Trusted
Confidential 2 Hughes: Scaled, Technology-Forward, Trusted Scale Technology Reliability Hughes Facilities Capacity and Service Reach Hughes Provides Service Operations / Management Center 2,100+ Patents Issued and Pending $1.5B Q1’26 Contracted Backlog 739K Subscribers as of Q4’25 Defense 92% growth
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Slide 6: Experienced Leadership Team
Confidential 5 Experienced Leadership Team Paul Gaske Chief Operating Officer Ramesh Ramaswamy EVP & General Manager International Division Dr. Charles Barnett SVP Hughes Engineering Dan Rasmussen SVP & General Manager, North America Enterprise Division Leads all revenue-generating activities acro
Slide 7: Seasoned leadership team positioned to execute on multi-transport growth strategy
Confidential 6 Seasoned leadership team positioned to execute on Hughes’ multi-transport growth strategy Organizational Structure Hughes COO Shared Services Organizations Legal Finance HR IT Networks & Technology Service Delivery Engineering Quality Manufacturing Marketing Comms Systems and Satellit
Slide 8: Corporate Headquarters and Satellite Offices
Confidential 7 Corporate Headquarters and Satellite Offices Strategically positioned offices supporting innovation, delivery and customer engagement ~1,850 Employees1 33 Office Locations Worldwide 15 Countries with Offices Corporate Headquarters Satellite Offices San Diego, CA American Fork, UT Germ
Slide 9: Significant Satellite Capacity to Support Growth
Confidential 8 Significant Satellite Capacity to Support Growth Note: Al Yah 3 and EchoStar IX are no longer in service 1. Represents company estimate of end of life for owned satellites and date of lease expiry for leased satellites 2. Company holds FCC-authorized orbital slot licenses at 95.2°W, 9
Slide 10: Hughes Well Positioned in the Growing Space Market
Confidential 9 Hughes Well Positioned in the Growing Space Market Global Infrastructure Space Launch Spacecraft Constellation Mission Management User Equipment & Services Global Market Presence End Markets Systems Service Traffic Gateways LEO / MEO Systems & Networks Terrestrial Networks 5G / NTN Sy
Slide 11: Hughes Key Investment Highlights
Confidential 10 Proven Manufacturing Expertise supporting major constellations with innovative, on-shore capabilities Strong Free Cash Flow Generation from excess Jupiter-3 capacity and minimal future capex Strong Technology Competencies across a broad spectrum of space, satellite, and ground soluti
Slide 12: Financial Summary
Confidential 11 ($37) $44 $87 $135 $192 $260 $384 $302 $216 $165 $101 $55 $347 $347 $303 $300 $293 $315 2025A 2026E 2027E 2028E 2029E 2030E Enterprise Consumer $646 $743 $975 $1,173 $1,406 $1,663 $786 $609 $450 $314 $223 $158 $1,433 $1,352 $1,425 $1,487 $1,629 $1,822 2025A 2026E 2027E 2028E 2029E 20
Slide 13: Diversified portfolio with increasing focus on high-growth enterprise segments
Confidential 12 Diversified portfolio with increasing focus on high-growth enterprise segments Segment Overview and Evolution Revenue Evolution International Enterprise Domestic Managed Services Aero Defense Hybrid GEO/LEO and managed satellite networks for corporations and governments across the Am
Slide 14: Hughes Segment Overview
Confidential 13 Hughes Segment Overview Managed Services Consumer: Managed Decline ($ in millions) Segments ’26E Revenue Revenue Growth ’26E OIBDA 1 ’26E Margin 2 North America $552 Broadband connectivity for rural U.S. markets using JUPITER satellites delivering reliable, high-speed internet (28%)
Slide 15: Healthy Increases Driven by Enterprise Segment
Confidential 14 Healthy Increases Driven by Enterprise Segment New Orders/Pipeline Enterprise orders Increases 80% in 2026 from $465M to $839M Driven by aero and satellite platform orders Enterprise backlog increases 11% to >$1.6B in 2026 Orders Shifting to Enterprise as Planned 2026 Orders Hi
Slide 16: Hughes Growth Trajectory
Confidential 15 Solidifying Hughes as a global enterprise connectivity leader, anchored in managed networks, IFC and defense-grade communications Hughes Growth Trajectory Revenue Evolution Key Growth Drivers $1,433 ($628) $125 $314 $49 $422 $108 $1,822 2025A Cons. Int'l Ent. N. Amer. Managed Svc. Ae
Slide 17: Strong Free Cash Flow Generation
Confidential 16 Strong Free Cash Flow Generation Sustained cash flow growth from capital-light Enterprise segment Consumer Cash Flows Enable Enterprise Expansion Capital-Light Mix Drives FCF Conversion $1.3bn Cum. FCF By 2030 1. OFCF defined as OIBDA less capex and working capital. Includes Hughes c
Slide 18: Growing Aero Segment: hybrid technology, OEM partnerships and backlog visibility
Confidential 17 Positioned for sustained growth through hybrid technology, OEM partnerships and long-term backlog visibility Growing Aero Segment Proven Track Record and Product Pipeline ThinKom Ka2517 Dual-Band (Ka/Ku) In-Flight Connectivity System Selected Hughes for select future-delivery A350 &
Slide 19: Aero segment overview
Confidential 18 $160 $144 $219 $209 $239 $274 $39 $89 $154 $227 $315 $167 $183 $308 $363 $466 $589 1% 12% 15% 18% 19% 20% 2025A 2026E 2027E 2028E 2029E 2030E 60% 27% 13% Provides in-flight broadband and connectivity for commercial Customer Mix* aviation using JUPITER GEO satellites and LEO partner
Slide 20: Defense Segment – Poised for Rapid Growth
Confidential 19 Defense Segment – Poised for Rapid Growth SOVEREIGN OPPORTUNITIES $100M+ Qatar Mexico Others NETWORKS • 5G Secure Services • 5G Deployments • Whidbey ISL • Ft Bliss • Multi-Orbit LEO/MEO/GEO • Systems • Terminals • Modems GROUND SYSTEMS • Ground Entry Point (GEP) • • Global Gateways
Slide 21: Defense Segment – Proven Track Record and Product Pipeline
Confidential 20 Hughes awarded $151B Hughes awarded Protected SATCOM ground system development contract Growth includes manufacture of satellite ground system equipment Hughes awarded Protected SATCOM ground system development contract Growth includes manufacture of satellite ground system equipment
Slide 22: Leading Managed Services Capabilities
Confidential 21 Challengers Leaders Niche Players Visionaries Leading Managed Services Capabilities Trusted managed services partner delivering scalable, reliable solutions through a comprehensive portfolio Validated Market Leadership: 2026 Gartner Magic Quadrant Ability to Execute Completeness of V
Slide 23: North America Managed Services segment
Confidential 22 $175 $201 $249 $332 $410 $489 (23%) (8%) (5%) 1% 6% 10% 2025A 2026E 2027E 2028E 2029E 2030E Provides managed network, cybersecurity and private 5G services through a capital-light, recurring model Focused primarily on retail, energy, logistics and industrial Multi-year managed
Slide 24: Int'l Enterprise Segment: Geographic Diversification
Confidential 23 Hardware 33% Service 67% $239 $274 $291 $313 $337 $364 5% 11% 11% 12% 13% 13% 2025A 2026E 2027E 2028E 2029E 2030E Delivering secure, high-performance connectivity across global markets Int’l Enterprise Segment: Geographic Diversification Investment Highlights Description Revenue and
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Slide 26: LEO Capabilities and Opportunities
Confidential 25 LEO Capabilities and Opportunities Mobility (Maritime, Landmobile) connectivity
Slide 27: Consumer segment: managed decline
Confidential 26 $712 $552 $410 $302 $211 $147 $74 $57 $786 $609 $450 $314 $223 $158 49% 50% 48% 53% 45% 35% 2025A 2026E 2027E 2028E 2029E 2030E 548 397 299 208 144 100 191 144 739 541 358 258 193 148 $96 $98 $99 $100 $101 $101 $34 $34 $37 $46 $46 $46 $ - $20 $40 $60 $80 $100 - 500 1,000 1,500 2025A
Slide 28: Technology Competence Areas
Confidential 27 Technology Competence Areas RF & Antenna design Multi transport WAN Fusion Core Networking / Open RAN Satellite waveforms & coding Complex systems End-end design & development Specialized handsets (CPE) Satellite adaptation of 3gpp protocols Cloud based Network Management & AI System
Slide 29: Hughes GEO Gateway Technology
Confidential 28 • Worlds first Q/V Band gateway network • Advanced Cloud based dynamic gateway switching architecture • Overcoming weather degradation to achieve greater than 99.9% availability • Pioneering use of ultra high frequency spectrum Hughes GEO Gateway Technology 20 Core J3 Satellite Locat
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Slide 33: 30+ years experience developing satellite platform technologies
Confidential 32 30+ years experience developing satellite platform technologies Satellite Platform Infrastructure Experience Unique industry position having developed all of the following: Fixed and Mobile Satellite Systems GSO and NGSO systems, multiple RF bands Fixed, transportable, vehicu
Slide 34: AI Leadership Driving Performance Gains at Hughes
Confidential 33 AI Leadership Driving Performance Gains at Hughes
Slide 35: AI Enhancing the Hughes Business
Confidential 34 AI Enhancing the Hughes Business
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Slide 39: Overview of Financial Projections
Confidential 38 % Sales Overview of Financial Projections Revenue OIBDA Capital Expenditures Operating Free Cash Flow1 9.5% 5.4% 4.3% 3.2% 2.9% 2.7% % Sales 13.1% 21.9% 17.1% 18.3% 15.9% 15.3% YoY Growth (7.9%) (5.6%) 5.4% 4.4% 9.5% 11.9% Margin 24.2% 25.7% 21.3% 20.2% 18.0% 17.3% 1. OFCF defined as
Slide 40: Appendix
Confidential 39 Appendix
Slide 41: Contracted Enterprise Backlog and Cash Flow Generation
Confidential 40 $1,702 $1,483 $1,043 $751 $534 $360 34% 59% 30% 19% 12% 9% 2025A 2026E 2027E 2028E 2029E 2030E Total Existing Backlog (BoP) % of Enterprise Revenue from Backlog Sustained cash flow growth from capital-light Enterprise segment Strong, Identifiable Free Cash Flow Generation ~$1.5bn Con