Abu Dhabi, UAE: Al Yah Satellite Communications Company (Yahsat), the UAE’s flagship satellite solutions provider, (ADX trading Symbol: YAHSAT), announces that it has been ranked in the top ten most sustainable companies in the Middle East, according to the S&P Global ESG Scores. Yahsat has sealed the 6th and 3rd positions in the Middle East and the UAE rankings respectively.

The S&P Global ESG Scores assess the sustainability performance in Environmental, Social, and Governance (ESG) practices of the world's largest companies. Ranking high among more than 250 companies assessed in the Middle East reinforces Yahsat’s strong reputation as a local, regional, and global sustainability leader.

Yahsat is dedicated to integrating and promoting sustainability ESG principles across all its business operations and value chain, creating a positive impact on society and the environment. The company developed its Sustainability Framework in 2022, which aligns with national, regional, and global sustainability priorities, alongside its business growth strategy.

Ali Al Hashemi, Group Chief Executive Officer of Yahsat, said: “We are delighted and proud to be ranked in the top ten most sustainable companies in the Middle East by S&P Global. Sustainability has been deeply rooted within Yahsat through its momentous journey, yet this reputable ranking is a clear testament to the notable achievement of developing a robust sustainability framework and policies since going public in 2021. Our constant commitment to embracing international standards is beneficial for the environment, the communities we serve, and in making us a more efficient and productive organization.”   

In August 2023, Yahsat's Board approved its ESG policy, outlining the company’s ambition to become a pioneer in ESG within the space sector. Yahsat also developed a CSR Strategy Framework to integrate socially responsible practices into its business model, further demonstrating its commitment to sustainability.

Yahsat deploys space technology for social and environmental protection worldwide, providing innovative solutions such as e-learning, telemedicine, disaster response and recovery, and wildlife tracking.

Additionally, Yahsat undertook a comprehensive carbon accounting assessment in 2023, by measuring its emissions and developing a decarbonisation strategy for its headquarters. The company is also a signatory to the United Nations Global Compact and adheres to its ten core principles.

Access Yahsat’s recently published Sustainability Report 2023 here, reflecting its achievements in environmental stewardship, social responsibility, and corporate governance.

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About Yahsat

Al Yah Satellite Communications Company PJSC (Yahsat) is a public company listed on the Abu Dhabi Securities Exchange (ADX) and a subsidiary of Mubadala Investment Company PJSC, offering multi-mission satellite solutions in more than 150 countries across Europe, the Middle East, Africa, South America, Asia and Australasia.

Yahsat’s fleet of 5 satellites reaches more than 80% of the world’s population, enabling critical communications including broadband, broadcasting, backhauling and mobility solutions. Based out of Abu Dhabi in the UAE, Yahsat provides C, Ku, Ka and L-band satellite communications solutions for land, maritime and aero platforms to consumers, governments and enterprises.

Its businesses consist of Yahsat Government Solutions, Thuraya, YahClick (powered by Hughes) and YahLink. Yahsat also participates in Hughes do Brasil, an equity partnership with Hughes, and Yahlive, an equity partnership with SES. In 2020, Yahsat commenced construction of Thuraya 4, the next-generation telecommunications system for Thuraya, which is due to launch in 2024 and to enter service in 2025. In 2023, Yahsat commenced construction of two new software-defined telecommunication satellites, Al Yah 4 and Al Yah 5, which are expected to be launched in 2027 and 2028, respectively.

Note

On the 25th of April 2024, the shareholders of Bayanat and Yahsat approved the proposed merger of the two companies during their respective General Assembly Meetings (GAMs). The merger aims to create an AI-powered space technology champion in the MENA region with global reach. Bayanat and Yahsat will continue to operate independently until regulatory approval is received and the merger is effective, which is expected to take place in mid-2024. Visit the merger microsite for more information: www.asharedambition.com

For more information, visit: www.yahsat.com ; Follow us on Twitter: @YahsatOfficial

Legal Notice and Cautionary statement regarding forward-looking information

This announcement includes forward-looking statements, which are based on current expectations and projections about future events. These statements may include, without limitation, words such as "expect", "will", "looking ahead" and any other words and terms of similar meaning. These forward-looking statements are subject to risks, uncertainties and assumptions about the Company and its subsidiaries and its investments, and speak only as at the date of this announcement. Forward-looking statements are based on assumptions of future events and information currently available to the Company which may not prove to be accurate and the Company does not accept any responsibility for the accuracy or fairness thereof and expressly disclaims any obligation to update any such forward looking statement. No representation or warranty is made that any forward-looking statement will come to pass. You are therefore cautioned not to place any undue reliance on forward-looking statements. For further information regarding forward-looking statements, and the factors that may cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements please refer to our Annual Report for 2023, which is available on our website at https://www.yahsat.com/en/investor-relations/annual-report

The amount and payment of dividends by the Group is subject to consideration by the Board of Directors of the cash management requirements of the Group for operating expenses, interest expense, and anticipated capital expenditures, and market conditions, the then current operating environment in its markets, and the Board of Directors’ outlook for the business of the Company. In addition, any level or payment of dividends will depend on, among other things, future profits and the business plan of the Company, as determined at the discretion of the Board of Directors.

Neither this announcement nor anything contained herein constitutes a financial promotion, or an invitation or inducement to acquire or sell securities in any jurisdiction.

For investor enquiries, please contact: ir@yahsat.ae  
For media enquiries, please contact: corporatecomms@yahsat.ae; yahsat@hkstrategies.com