Eutelsat Investor Presentation Deck

ADJUSTED DISCRETIONARY FREE CASH-FLOW In €m Change as per financial objectives 735 Net Cash-Flow from OW take-or-pay (1) operations Reported change ▸ EUTELSAT 94 (66) (271) Cash Capex 9 (2) (95) Interest and Other fees paid net of interests received (17) 518 56 462 Discretionary Free Cash-Flow (3) One-off costs related to specific projects, notably COMETE and Eutelsat-One Web combination 19 1 DFCF excludes payments related to the exclusive commercial partnership with OneWeb. 2 Cash Capex covers the acquisition of satellites and other tangible or intangible assets, payments in respect of export credit facilities or other bank facilities financing investments as well as payments related to lease liabilities. If applicable it is netted from the amount of insurance proceeds. 53

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