Telesat Corporation · NASDAQ:TSAT
Telesat — Investor Presentation (August 2026)
19 slides from Telesat's investor presentation, Aug 4, 2026
Slide 1: Telesat Lightspeed ESCP-P Contract Announcement Business Plan Update
Telesat Lightspeed ESCP-P Contract Announcement Business Plan Update Dan Goldberg President & Chief Executive Officer Donald Tremblay Chief Financial Officer August 4, 2026
Slide 2: Disclosures
Disclosures Note: unless otherwise stated, all values included are in United States dollars. This Presentation is provided to you on the condition that you agree that you will not reproduce, forward or distribute it in whole or in part to any third party without the prior written consent of Telesat
Slide 3: Disclosures: Forward-looking Statements
Disclosures Forward-looking Statements This presentation contains statements that are not based on historical fact, including financial outlook for 2026 and future years, estimated timing of the commencement of global commercial service on Telesat Lightspeed, the growth opportunities of Telesat Ligh
Slide 4: Telesat secures largest contract in company history for ESCP-P Mil-Ka
Telesat secures largest contract in company history to deliver Mil-Ka portion of Enhanced Satellite Communications Project–Polar (ESCP-P) program US$1.9B Expand initial Mil-Ka capacity Further contract with constellation to in the Arctic announcements the 225 satellites north of the expected in Mil-
Slide 5: ESCP-P substantially increases Telesat Lightspeed's capacity with no impact to timing
ESCP-P substantially increases Telesat Lightspeed’s capacity with no impact to timing of global commercial availability Fully funded 156 225 Launch vehicles secured 1 Satellites Satellites Enhanced capacity, resiliency and performance No change to global service start date (1Q28) 1Includes one addit
Slide 6: Expanded Telesat Lightspeed constellation is fully-funded
Expanded Telesat Lightspeed constellation is fully-funded Sources of Funds (US$) Uses of Funds (US$) Launch and Development Telesat Equity (fully funded) $1.6B $4.0B of 225 Satellites Government Financing $1.8B Operational Expenditures $0.7B Vendor Financing $0.3B Total Constellation Costs $4.7B ESC
Slide 7: Cash impact of this initial ESCP-P contract
Cash impact of this initial ESCP-P contract ESCP-P Initial Contract Expected Cash Inflow (US$) 2026 – 2043 for Initial Operating Capability Total cash expected: US$1.9B Milestone-based payments (26-28): US$1.5B 8% Projected annual cash inflow: US$30M per 8% year for 15 years (initial 5-year contract
Slide 8: Initial ESCP-P contract adds US$3.3B to the Telesat Lightspeed backlog
This initial ESCP-P contract adds US$3.3B to the Telesat Lightspeed backlog, reflecting expected recognized revenue through 2043 ESCP-P Initial Contract Expected Cash Inflows and Recognized Revenue, 2026-2043 (US$M) • Milestone-based payments at the beginning of the contract $800 $700 $600 represent
Slide 9: ESCP-P positions Telesat to capture other key future defence opportunities
ESCP-P strongly positions Telesat to capture other key future defence opportunities CAF Global CAF Arctic SATCOM SATCOM Execute on ESCP-P requirements for Arctic Mil- Opportunity to provide CAF Ka, X, and UHF with global Mil-Ka connectivity Allies’ Global Other Global SATCOM Space Support SATCOM Mee
Slide 10: Global defence spending at record highs, driving opportunities
Global defence spending at record highs, driving opportunities in Canada and internationally NATO Defence Spending Scenarios US$, Current GDP • NATO members committed to significantly Canada European NATO USA increase defence spending to 5% of GDP by 2035 $2,745B +73% $110B - 3.5% dedicated to core
Slide 11: Demand for Military SATCOM is growing at an unprecedented pace
Demand for Military SATCOM is growing at an unprecedented pace, with strong demand for high-bandwidth LEO Mil-Ka capacity US$43B Defence Broadband Users are increasingly seeking LEO Military-Ka Connectivity TAM (Mil-Ka) capacity due to several advantages: Higher data rates to meet growing bandwidth
Slide 12: Telesat Lightspeed: Plan Update
Telesat Lightspeed: Plan Update 12
Slide 13: Telesat Lightspeed on track for Q1 2028 commercial launch
Telesat Lightspeed on track for Q1 2028 commercial launch 225 $4B $2B Fully funded Backlog Invested satellites; launches secured to date 1 secured Satellites Launch dates Manufacturing Ground segment Pathfinder satellites Global service 1Q28 ordered secured facility opened rollout ongoing under cons
Slide 14: Business Plan Update Summary
Business Plan Update Summary Expanded Telesat Lightspeed constellation grows revenue and EBITDA Forecasted Revenue, 2028-2032 (US$M) $4.9B Inclusive of all connectivity revenues (Mil-Ka, ESCP-P, and Space Relay) +53% $4,900 2032 Forecast Revenue $3,200 2028 2029 2030 2031 2032 $4B / ~39% Cumulative
Slide 15: Updated Telesat Lightspeed revenue mix (2032)
Updated Telesat Lightspeed revenue mix (2032) reflects changed geopolitical context and addition of Mil-Ka 2032 Forecasted Share of Revenue By Segment $3,200 $4,900 Larger Constellation & 16% More Capacity 43% Growing Government 46% Momentum & Investment 14% 17% Mil-Ka as Differentiator 13% 26% 24%
Slide 16: Telesat Lightspeed's 2032 TAM exceeds US$359B
Telesat Lightspeed’s 2032 TAM exceeds US$359B, up from prior $320B estimate Telesat’s 2032 % share of TAM US$43B TAM | US$2.2B Telesat Lightspeed (5%) Defence $4.9B In Forecast 2032 Revenue US$17B TAM | US$1.2B Telesat Lightspeed (7%) Aviation 1.3% US$294B TAM | US$0.8B Telesat Lightspeed (0.25%) En
Slide 17: Accelerating plans for Telesat Lightspeed constellation expansion
Accelerating plans for Telesat Lightspeed constellation expansion • Telesat Lightspeed is now planned to have 225 highly Telesat Lightspeed Constellation Size advanced satellites in 2028 (fully funded) 49% • Prior plan was for 156 satellites, 295 with an additional 42 satellites 70 funded with futur
Slide 18: Telesat is strongly positioned to execute its growth plan
Telesat is strongly positioned to execute its growth plan and create significant shareholder value 57 years of innovation, industry firsts, engineering excellence and world class customer service have made us a trusted provider of mission- critical, enterprise-grade communications services Current g
Slide 19: Investor contact
Investor contact: James Ratcliffe +1 613 748 8424 IR@Telesat.com