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  • • Bharti Enterprises to be the largest shareholder in the merged entity with 21.2 % share.
  • • Mr. Sunil Bharti Mittal to be the Vice-Président (Co-Chair) and Mr. Shravin Bharti Mittal to be a Director on the Board of Eutelsat Group.
  • • Mr. Akhil Gupta to continue as a Director on the Board of OneWeb.

New Delhi, 28 SEPTEMBER 2023: Eutelsat Communications SA (Euronext Paris: ETL) (the “Company”), one of the world's leading satellite operators, today announced the completion of its all-share combination with OneWeb, the global low Earth orbit (LEO) satellite communications network, following the approval of the Ordinary and Extraordinary General Meeting of Eutelsat shareholders.

Headquartered out of Paris, the merged entity will have Bharti Enterprises as its largest shareholder with 21.2% share. Bharti Group is committed to be a long-term strategic investor in the Eutelsat Group. Mr. Sunil Bharti Mittal will be the Vice-Président (Co-Chair) and Mr. Shravin Bharti Mittal, who spearheaded the OneWeb investment, taking it out of Chapter 11, will be Bharti’s lead as a Director on the Board of Eutelsat. Mr. Akhil Gupta will continue to serve as a Director on the Board of OneWeb, now a 100% subsidiary of Eutelsat.

OneWeb will be a subsidiary operating commercially as Eutelsat OneWeb with its centre of operations remaining in London. The Company remains listed on the Euronext Paris Stock Exchange and has applied for standard listing on the London Stock Exchange. Christened as the Eutelsat Group, the new entity will be the first GEO-LEO integrated satellite group, transforming space communications and addressing the fast-growing connectivity market.

Sunil Bharti Mittal, Founder & Chairman of Bharti Enterprises, Vice-Président (Co-Chair) of the Board of Directors, Eutelsat Group, commented: “Closing the digital divide is a critical mission for achieving the UN Sustainable Development Goals and this combination will synergize the efforts of both the businesses and will accelerate our progress. I want to thank everyone who has made this possible. Today we have created a company, which will bring connectivity to all people around the world and will help us achieve our mission of last-mile connectivity.

Bharti is excited about providing services in India later this year and importantly, reaching other countries in the global south to provide broadband connectivity to those who are deprived of being a part of the Digital Revolution.”

About Bharti Enterprises

Bharti Enterprises is one of India’s leading business groups with interests in telecom, space communications, digital infrastructure, financial services, real estate, hospitality, agri- processed foods, and manufacturing. Bharti has been a pioneering force in the Indian telecom sector with many firsts and innovations to its credit. Bharti Airtel, the group's flagship company, is a leading global telecommunications company with operations in 17 countries across Asia and Africa. The Company ranks amongst the top three mobile service providers globally in terms of subscribers. Bharti has JVs with AXA, the world leader in financial protection and wealth management, for Life Insurance and with Del Monte that offers a range of branded food and beverage products under the Del Monte brand in India and select SAARC countries. Other business ventures of the group include Hike Global, a web3 gaming company targeted at creating new economic opportunity for the masses, Beetel Teletech, India’s leading manufacturer and distributor of telecom, IT and allied products. Through its strategic investments, Bharti has a significant presence in the hospitality sector. Bharti Enterprises is also the largest investor in OneWeb, a leading satellite & space communications company, reaffirming its commitment to accelerating universal broadband connectivity.