Telesat (TSAT) AGM 2025 summary

Opening remarks and agenda

• The meeting was called to order with a welcome from the CEO, who also served as chair, and outlined the virtual meeting procedures and rules for participation.

• The agenda and purposes of the meeting were set out in the Management Information Circular, available to shareholders in advance.

Corporate governance

• The chair appointed a secretary and a scrutineer to oversee the meeting and voting process, ensuring compliance with corporate articles and legal requirements.

• The Golden Share mechanism was explained to maintain Canadian control, with procedures in place to track Canadian and non-Canadian votes.

• Voting was conducted electronically, with all motions moved by the chair and no need for seconders.

Board and executive committee updates

• Ten directors were nominated for election, all of whom were current directors and confirmed their willingness to serve.

• No additional nominations were received, and the nominees included designees from major investors.