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Telesat announces equity distribution of Telesat Lightspeed business

1. Telesat distributed 62% of Telesat Lightspeed's equity to a subsidiary. 2. The subsidiary is wholly owned and does not guarantee Telesat Canada's debt. 3. There are no operational changes following the equity distribution. 4. Telesat Lightspeed aims to provide high-capacity, secure satellite connectivity. 5. The company emphasizes innovation to meet future connectivity demands.

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FAQ

Why Neutral?

The transaction is internal without operational changes, likely stabilizing TSAT’s stock.

How important is it?

The equity move reflects internal restructuring, unlikely to drastically impact market perception.

Why Short Term?

Equity distribution effects are immediate but may not influence long-term growth significantly.

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September 12, 2025 17:15 ET  | Source: Telesat OTTAWA, Ontario, Sept. 12, 2025 (GLOBE NEWSWIRE) -- Telesat (Nasdaq and TSX: TSAT), one of the world’s largest and most innovative satellite operators, today announced that it has completed the distribution of 62% of the equity of its Telesat Lightspeed business to an indirect subsidiary of Telesat Corporation. The indirect subsidiary is wholly-owned by Telesat Canada’s parent entities and is a non-guarantor under Telesat Canada’s debt documents. There are no changes to the Company’s operations as a result of this transaction. About Telesat Backed by a legacy of engineering excellence, reliability and industry-leading customer service, Telesat (Nasdaq and TSX: TSAT) is one of the largest and most successful global satellite operators. Telesat works collaboratively with its customers to deliver critical connectivity solutions that tackle the world’s most complex communications challenges, providing powerful advantages that improve their operations and drive profitable growth. Continuously innovating to meet the connectivity demands of the future, Telesat Lightspeed, the company’s state-of-the-art Low Earth Orbit (LEO) satellite network, has been optimized to meet the rigorous requirements of telecom, government, maritime and aeronautical customers. Telesat Lightspeed will redefine global satellite connectivity with ubiquitous, affordable, high capacity, secure and resilient links with fibre-like speeds. For updates on Telesat, follow us on LinkedIn, X, or visit www.telesat.com.                                          Media Contact:Lynette Simmonspr@telesat.com Investor Relations Contact:James Ratcliffe+1 613 748 8424ir@telesat.com

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