Major milestone reached for the IRIS² programme further strengthening sovereign connectivity capabilities through enhanced resilience and improved long-term operational performance

Eutelsat confirmed as lead of the LEO segment, further cementing its position as a core player in Europe's future sovereign connectivity infrastructure

Programme will provide Eutelsat with enhanced network capacity and next-generation technological capabilities, driving future service expansion and long-term revenue generation throughout the IRIS² concession and beyond

PARIS--(BUSINESS WIRE)--

Regulatory News:

Eutelsat welcomes the successful completion of the IRIS2 programme's First Rendez-Vous, paving the way for the full industrial execution of Europe's sovereign multi-orbit connectivity infrastructure, offering additional capacity and enhanced technical performance relative to the initial project.

Combining an inclined orbital architecture with beamforming antennas and 5G NTN, it will dynamically direct capacity to where demand is greatest, providing higher throughput, improved service quality and more efficient use of network resources. Fiber-optic inter-satellite Links will further enhance resilience, extend service availability and reduce reliance on ground infrastructure, benefiting governments, enterprises, mobility and other mission-critical applications. The constellation will also support a new generation of smaller, lighter and more affordable user terminals, making high-performance satellite connectivity accessible to a broader range of customers.

This milestone marks the transition from programme definition to execution. Industrial activities will now accelerate across Europe, with manufacturing, system integration and infrastructure deployment commencing immediately. Key suppliers Airbus Defence and Space, Thales Alenia Space and Aerospacelab will provide the manufacturing capacity required notably to deliver the IRIS² LEO constellation on schedule while reinforcing Europe's industrial and technological base.

The announcement secures the long-term evolution of Eutelsat's LEO roadmap beyond the replenishment of its OneWeb LEO constellation, reinforcing the company's commitment to provide customers with enhanced connectivity solutions through 2040.

As leader of the Low Earth Orbit (LEO) segment, Eutelsat will leverage its proven operational expertise, systems engineering capabilities and unique experience in deploying and operating large-scale constellations to deliver one of Europe's most ambitious space programmes. This involves the design, deployment and operation of the IRIS² LEO constellation, comprising 264 dual Mil-Ka/Ku band as well as the 66 Mil-Ka band satellites

As a consequence of the increased scope of the IRIS² programme, Eutelsat will invest €2.23 billion in the shared infrastructure of IRIS² and a further €1.16 billion in the commercial infrastructure (Ku payload and commercial ground) supporting increased capacities and greater revenue generation. This investment will be phased over the period 2027 to 2034.

In return for its investment Eutelsat will gain access to over twice the current OneWeb capacity. Eutelsat will benefit, along with the other SpaceRISE members, from the scale advantages of shared fixed costs and R&D investments in the development of new technologies.

Revenues generated from this capacity are estimated at over €10 billion over the period 2032-2040, representing the term of the initial Concession Agreement (2036) which additionally provides access rights for the duration of the life of the satellites.

The first Ka-only satellites will be launched starting in 2029. The commercial Ku LEO constellation will be fully operational by mid-2032.

To provide customers with continuity of service while supporting future growth, Eutelsat plans to strengthen and extend the OneWeb constellation through 2034 by deploying an additional 229 satellites on top of the already procured new 440 GEN1 satellites, representing an investment of around €1 billion.

The project is fully consistent with Eutelsat’s financial framework and compatible with its required returns on investment. Eutelsat’s capital expenditure plan remains unchanged up to FY 2029.

Jean-François Fallacher, Chief Executive Officer of Eutelsat, said: "Reaching this milestone is a defining moment for Eutelsat and for Europe's space ambitions. We are now moving from planning to execution, with a clear focus on delivering a world-class sovereign, secure and resilient connectivity infrastructure. The additional public and private investment agreed today strengthens the programme with greater capacity, resilience and flexibility to meet Europe's future connectivity and security needs. Eutelsat is proud to lead the deployment and operation of the IRIS² LEO constellation, building on the proven operational experience of OneWeb to ensure a seamless transition for our customers while reinforcing Europe's technological leadership and strategic autonomy for decades to come."

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE EU MARKET ABUSE REGULATION 596/2014, AS AMENDED AND THE UK MARKET ABUSE REGULATION.

About Eutelsat Communications ( EUTLF )

Eutelsat is a global leader in satellite communications, delivering connectivity and broadcast services worldwide. Eutelsat was formed through the combination of the Company and OneWeb in 2023, becoming the first fully integrated GEO-LEO satellite operator with a fleet of 31 Geostationary (GEO) satellites and a Low Earth Orbit (LEO) constellation of more than 600 satellites. Eutelsat addresses the needs of customers in four key verticals of Video, where it distributes around 5,800 television channels, and the high-growth connectivity markets of Mobile Connectivity, Fixed Connectivity, and Government Services. Eutelsat's unique suite of in-orbit assets and ground infrastructure enables it to deliver integrated solutions to meet the needs of global customers. The Company is headquartered in Paris and Eutelsat employs more than 1,600 people across more than 75 countries. Eutelsat is committed to delivering safe, resilient, and environmentally sustainable connectivity to help bridge the digital divide. The Company is listed on the Euronext Paris Stock Exchange and the London Stock Exchange .

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Source: Eutelsat