EchoStar (SATS) investor relations material

Strategic Transactions and Partnerships

• Completed spectrum sales to AT&T and SpaceX, including 600 MHz, 3.45 GHz, AWS-4, H Block, and global S-band rights, totaling $17 billion split between cash and SpaceX equity, and a $22.65 billion AT&T transaction for spectrum licenses and a hybrid MNO agreement for Boost Mobile.

• Collaborated with SpaceX on next-gen Starlink Direct-to-Cell satellites, with $8.5 billion paid in equity and $2 billion in interest coverage.

Company Profile, Assets, and Financial Update

• Maintains a scaled subscriber base across DISH TV, SLING TV, Wireless, and Hughes, totaling over 24 million subscribers.

• Demonstrates revenue resilience with $15.5 billion in wireless, $10.3 billion in BSS, and $3.7 billion in Pay TV over the last twelve months.

• Holds a pro forma cash position of $24.1 billion after debt repayment, with $13 billion in debt, $8.5 billion in SpaceX equity, and about 45 MHz of spectrum.

• Tax and network wind-down liabilities are estimated in the $5–15 billion range, with ongoing analysis to optimize outcomes.

Operating Business Units and Market Positioning

• Boost Mobile leverages a hybrid MNO model with AT&T and SpaceX, offering cloud-native core network and ubiquitous coverage, positioned for disruptive, technology-driven growth.

• DISH and SLING TV recognized for high customer loyalty and increased viewership, with SLING named “Best Live Streaming Service.”

• Hughes delivers resilient, secure connectivity, leads in multi-orbit in-flight connectivity, and is expanding its aero business with a $1.8 billion backlog and advanced ESA technology.