OTTAWA, Ontario, July  27, 2026  (GLOBE NEWSWIRE) -- Telesat GEO Inc, a subsidiary of Telesat Corporation (NASDAQ and TSX:TSAT) (&#34;Telesat&#34;), one of the world&#39;s largest and most innovative satellite

TSX:TSAT

Telesat prepared to execute FCC Upper C-band transition plan

Telesat wins $189 million incentive as Upper C-band transition advances

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>OTTAWA, Ontario, July  27, 2026  (GLOBE NEWSWIRE) -- Telesat GEO Inc, a subsidiary of Telesat Corporation (NASDAQ and TSX:TSAT) (&amp;#34;Telesat&amp;#34;), one of the world&amp;#39;s largest and most innovative satellite</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Regulatory authorities cleared the Upper C-band transition path, enabling Telesat GEO to pursue 160 MHz repurposing and receive up to US$189 million in incentive payments, contingent on meeting deadlines. The company must submit transition plans by November 5, 2026, with cost reimbursements also covered. The news lowers near-term regulatory risk and may lift TSX:TSAT valuation if milestones are met.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>FCC approves Upper C-band Order; 160 MHz repurposing. US$189 million incentives.</li><li>Transition plans due by November 5, 2026; transition costs reimbursed.</li><li>Incentives could boost Telesat cash flow and project certainty.</li><li>Progress supports Telesat Lightspeed and LEO expansion prospects.</li></ul>
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  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Telesat Corporation (TSAT)</strong>: Parent company; incentives and spectrum transition milestone potential upside for TSAT valuation.</li><li><strong>Telesat GEO Inc (N/A)</strong>: Subsidiary executing Upper C-band transition; cash flow and cost reimbursements flow through to parent.</li></ul>
  </section>

  <section data-block="category">
    <h3>Industry News</h3>
    <p>Industry News: Regulatory progress around spectrum refarming directly affects Telesat&#039;s cash flow, capex planning, and LEO strategy, with TSX listing making the impact relevant to TSAT shareholders.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>US$189 million incentive payments tied to meeting timelines.</li><li>Nov 5, 2026 transition-plan deadline creates near-term catalysts and risk.</li><li>160 MHz Upper C-band repurposing in US may improve spectrum access.</li><li>Regulatory outcomes could influence Telesat&#039;s financing for Lightspeed.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Incentive: US$189 million, contingent on deadlines.</li><li>Spectrum: 160 MHz of Upper C-band to be repurposed.</li><li>Plan deadline: November 5, 2026.</li><li>Reimbursement: Transition costs reimbursed by clearinghouse.</li><li>Order: FCC Upper C-band Report and Order adopted.</li></ul>
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  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>TSX:TSAT could rise near-term on incentive receipts and transition progress, with visibility through 2026.</p>
  </section>
</section>


<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p align="left">OTTAWA, Ontario, July  27, 2026  (GLOBE NEWSWIRE) -- Telesat GEO Inc, a subsidiary of Telesat Corporation (NASDAQ and TSX:<a class="ticker" href="https://www.benzinga.com/quote/TSAT">TSAT</a>) ("Telesat"), one of the world&#39;s largest and most innovative satellite operators, is preparing to execute its Upper C-band transition plan following the U.S. Federal Communications Commission&#39;s (FCC’s) adoption of its Upper C-band Report and Order ("Order"). The Order establishes the framework for repurposing 160 MHz of Upper C-band spectrum in the contiguous United States for next-generation terrestrial wireless services.</p>  <p>As set forth in the FCC&#39;s Order, Telesat GEO Inc. is eligible to receive US$189 million in incentive payments, contingent upon meeting the specified transition deadlines. The order also confirms reimbursement of reasonable and necessary transition costs as approved by the clearinghouse.</p>  <p>&#34;The FCC&#39;s Order establishes a clear path forward for the Upper C-band transition and will help accelerate the availability of spectrum needed to expand next-generation wireless services," stated Dan Goldberg, Telesat’s President and CEO. "Building on our successful execution of the previous C-band transition, we look forward to working closely with customers, earth station operators, and regulators to efficiently clear this spectrum while ensuring continuity of services."</p>  <p>The FCC&#39;s Order requires satellite operators to submit transition plans by November 5, 2026, outlining the steps necessary to clear the designated spectrum. Telesat GEO Inc. will continue to engage with affected stakeholders to support a smooth transition and maintain reliable satellite services throughout the process.</p>  <p align="justify"><strong>About Telesat</strong></p>  <p>Backed by a legacy of engineering excellence, reliability and industry-leading customer service, Telesat Corporation (Nasdaq and TSX:<a class="ticker" href="https://www.benzinga.com/quote/TSAT">TSAT</a>) is one of the largest and most innovative 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.</p>  <p>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 <a href="https://www.globenewswire.com/Tracker?data=-a7VhC4XPiZXM0F0swQzW7gJ57QyUARbxak4Y9kpof8L3968ve_SPkPEq8KXd7mcw8sLMQqOn9THCWruYnnFzYLsfsmOf8lec_I4SqPE308=" rel="nofollow" target="_blank"><u>LinkedIn</u></a>, <a href="https://www.globenewswire.com/Tracker?data=P1510zN-Uhvk3OtVD85qfkjtcGcUnKTVRiJII2Fz1zHSjb0acFYaSLGAuBwO9eU5kTprmQYC3Va3RH28pGVrlA==" rel="nofollow" target="_blank"><u>X</u></a>, or visit <a href="https://www.globenewswire.com/Tracker?data=hatSigDmPi5FKiJIXRerQ0yA1qQYoKjpaNg0uf4S3nnoZajFXe7lCf-FgcHRpa52NSArbFzWleLk39cA-OuL9k_LM2SltZUYFPTjELtquuc=" rel="nofollow" target="_blank"><u>www.telesat.com</u></a>.</p>  <p><strong>Media Contact:</strong></p>  <p>Monique Scotti<br></br><a href="https://www.globenewswire.com/Tracker?data=wg6etm5VsafkpC_RtLYRsaGh5hj4MKdSmfpQdrrWLiTUsWIgkDVEQ54YaFMhZs_DavgfM6GVUUpfwE6FuIx-8g==" rel="nofollow" target="_blank">pr@telesat.com</a></p>  <p><strong>Telesat’s Forward Looking Statements Safe Harbor </strong></p>  <p>This news release contains statements that are not based on historical fact and are "forward-looking statements" and "forward looking information" within the meaning of the Private Securities Litigation Reform Act of 1995 and Canadian securities laws. When used herein, statements which are not historical in nature, or which contain the words "<em>will</em>," or similar expressions, are forward-looking statements. In addition, Telesat or its representatives have made or may make forward-looking statements, provide forward looking information, orally or in writing, which may be included in, but are not limited to, various filings made from time to time with the U.S. Securities and Exchange Commission ("SEC") and Canadian securities regulatory authorities, and news releases or oral statements made with the approval of an authorized executive officer of Telesat. All statements made in this news release are made only as of the date set forth at the beginning of this news release. Telesat undertakes no obligation to update the statements made in this news release in the event facts or circumstances subsequently change after the date of this news release.</p>  <p>These forward-looking statements and this forward-looking information are not guarantees of future performance, are based on Telesat’s current expectations, and are subject to a number of known and unknown risks, uncertainties assumptions, and other factors, some of which are beyond Telesat’s control, are difficult to predict, and could cause actual results to differ materially from those expressed, forecasted or implied in the forward-looking statements and forward-looking information.</p>  <p>Known risks and uncertainties include but are not limited to: risks associated with financial factors, including swings in the global financial markets, access to capital to construct our LEO satellite constellation and the ability to refinance Telesat GEO Inc’s debt, inflation, rising or prolonged elevated interest rates, fluctuations in foreign exchange rates and tariffs, eligibility for and receipt of the above incentive payments, risks associated with operating satellites and providing satellite services, including satellite construction or launch delays, launch failures, in-orbit failures, impaired satellite performance or dependence on large customers; the ability to deploy successfully an advanced global LEO satellite constellation and the timing of any such deployment; Telesat’s ability to meet the conditions for advance of the loans under the funding agreements for the constellation; technological hurdles, including Telesat’s and Telesat’s contractors’ development and deployment of the new technologies required to complete the constellation in time to meet Telesat’s schedule, or at all; the availability of services and components from Telesat’s and Telesat’s contractors’ supply chains; competition, including with other LEO systems, deployed and yet to be deployed; risks associated with domestic and foreign government regulation, including government restrictions and regulations, access to sufficient orbital spectrum to be able to deliver services effectively and access to sufficient geographic markets in which to sell those services; Telesat’s ability to develop significant commercial and operational capabilities; and the ability to expand Telesat’s existing satellite utilization. The foregoing list of important factors is not exhaustive. Investors should review the other risk factors discussed in Telesat Corporation’s annual report on Form 20-F for the year ended December 31, 2025 that was filed on March 17, 2026 with the SEC and the Canadian securities regulatory authorities at the System for Electronic Document Analysis and Retrieval+ ("SEDAR+"), and may be accessed on the SEC’s website at <a href="https://www.globenewswire.com/Tracker?data=jxz5ALVnNuImzsnSc97vHb2IINAfO0KdLLcCRbyg7xQWszYyDWTSZ6bSKSpDRIoKfV6xmzurNDX0kRoOdIsrHw==" rel="nofollow" target="_blank">www.sec.gov</a> and SEDAR+’s website at <a href="https://www.globenewswire.com/Tracker?data=jxz5ALVnNuImzsnSc97vHUl6gFy9H3AbBylYK8VrN21-73xv0puPlAtwDSjSbtG7s-JUqvMb-wYLI7ZXRZdVy5fUSEfhJg_NTJ8OnUx8K70=" rel="nofollow" target="_blank">www.sedarplus.ca</a> as well as our subsequent reports on Form 6K filed with the SEC and also available on SEDAR.</p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTc5ODc3NyM3NzQ1Mjc5IzIyODU4Mjc="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/ZTdlMzg2YTYtMGYzNi00OTZmLWE0NDctNGU1YWM5MWE0Yjk4LTEyOTczNzctMjAyNi0wNy0yNy1lbg==/tiny/Telesat-Canada.png" referrerpolicy="no-referrer-when-downgrade"></img><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/4bbd6d1f-37e8-41d1-977f-5fb96868cee5"><img src="https://ml.globenewswire.com/media/4bbd6d1f-37e8-41d1-977f-5fb96868cee5/small/telesat-registered-logo-navy533c-300dpi-1970px-png.png" border="0" width="150" height="21" alt="Primary Logo"></img></a></p>

Regulatory authorities cleared the Upper C-band transition path, enabling Telesat GEO to pursue 160 MHz repurposing and receive up to US$189 million in incentive payments, contingent on meeting deadlines. The company must submit transition plans by November 5, 2026, with cost reimbursements also covered. The news lowers near-term regulatory risk and may lift TSX:TSAT valuation if milestones are met.

News insight

Telesat prepared to execute FCC Upper C-band transition plan

AI summary

Sentiment rationale

Key facts

Industry News