Abu Dhabi, UAE: Al Yah Satellite Communications Company (Yahsat), the UAE’s flagship satellite solutions provider, (ADX trading Symbol: YAHSAT), has selected SpaceX for the launch of its advanced new geostationary satellites Al Yah 4 (“AY4”) and Al Yah 5 (“AY5”) using SpaceX’s flight-proven Falcon 9 rocket.

The agreement is an important component of the AY4 and AY5 procurement programme, the full cost of which is expected to reach approximately AED 3.9 billion [USD 1.1 billion], encompassing spacecraft, ground segment infrastructure, launch and insurance. This announcement follows the signing of a contract between Yahsat and Airbus to design and build AY4 and AY5 based on the Eurostar Neo platform as part of an AED 18.7 billion [USD 5.1 billion] mandate awarded in Q3 2023 to Yahsat by the UAE Government for the provision of satellite communications capacity and managed services for 17 years, primarily on AY4 and AY5.

Ali Al Hashemi, Group Chief Executive Officer of Yahsat, said: “We are proud to collaborate with SpaceX on the upcoming Falcon 9 launches of our AI Yah 4 and AI Yah 5 satellites. Through the successful completion of the launch contracts with SpaceX and the recently announced design and manufacturing contract with Airbus, Yahsat is well placed to pursue the final contract with the UAE Government, the anchor customer of the Al Yah 4 and Al Yah 5 programme, as part of its largest ever mandate received in its history from the UAE Government."

Both satellites will provide secure governmental communications over a wide geographical area across the Middle East, Africa, Europe, and Asia. AY4 and AY5 are expected to eventually replace the older Al Yah 1 and Al Yah 2, which were launched in 2011 and 2012, respectively.

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.

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