TSAT Telesat Corporation

Telesat (NASDAQ and TSX: TSAT), one of the world’s largest and most innovative satellite operators, and Mage Networks, a leading Internet Service Provider and technology developer, today announced the signing of a Memorandum of Understanding (MOU) for Telesat Lightspeed Low Earth Orbit (LEO) satellite services.

Telesat and Mage Networks will collaborate on integrating commercial and technical aspects of Telesat Lightspeed high-throughput and low latency capacity into its services portfolio. Together they will develop demand and traffic projections and network performance criteria by market segment and define optimal business and operating models, with the objective of contracting Telesat Lightspeed services.

“Mage Networks understands the hardships facing people living in remote communities that don't have the same technological access that others do,” said Dr. Sayed-Amr (Sisso) El-Hamamsy, Co-founder, President and CEO, Mage Networks. “By integrating Mage Network’s hybrid solutions with Telesat Lightspeed LEO capacity we will be able to deliver reliable, redundant, affordable service to more people, in less time and at reduced cost.”

Through this collaboration, Mage Networks will expand broadband internet services to unserved and underserved communities in Canada, leveraging the Telesat Lightspeed Capacity Pool that was established through a partnership between Telesat and the Government of Canada.

The dedicated pool of Telesat Lightspeed rural connectivity capacity is available to Mobile Network Operators (MNOs), Internet Service Providers (ISPs), and Indigenous ISPs at greatly reduced rates on a first come, first served basis to provide connectivity for eligible communities. With the Telesat Lightspeed high performance network capacity, service providers will offer affordable broadband service plans to their end users of at least 50/10 Mbps speeds with unlimited data.

“Integrating the Telesat Lightspeed capacity pool with the Mage Networks’ innovative services portfolio will be a powerful solution to bridge the digital divide in Canada and achieve universal connectivity for all,” said Michele Beck, Senior Vice President, Canada Sales.

Designed from inception to serve the demanding, mission-critical connectivity requirements of enterprise and government users, the Telesat Lightspeed network will provide multi-Gbps data links and highly secure, resilient, low-latency broadband connectivity anywhere in the world. With the signing of MDA as the prime satellite manufacturer and all necessary launch contracts in place for global constellation deployment, Telesat is well-positioned to begin delivering unmatched, enterprise-class connectivity in 2027.

About Telesat

Backed by a legacy of engineering excellence, reliability and industry-leading customer service, Telesat (NASDAQ and TSX: TSAT) is one of the largest and most innovative global satellite operators. Telesat works collaboratively with its customers to deliver critical connectivity solutions that tackle the world’s most complex communications challenges, providing powerful advantages that improve their operations and drive profitable growth.

Continuously innovating to meet the connectivity demands of the future, Telesat Lightspeed, the company’s Low Earth Orbit (LEO) satellite network, will be the first and only LEO network optimized to meet the rigorous requirements of telecom, government, maritime and aeronautical customers. Telesat Lightspeed will redefine global satellite connectivity with ubiquitous, affordable, high-capacity links with fibre-like speeds. For updates on Telesat, follow us @Telesat on X, LinkedIn, or visit www.telesat.com.

About Mage Networks

Mage Networks specializes in developing and offering proprietary technology that connects underserved and unserved communities to high-speed Internet and bandwidth. Mage Networks connects people in rural and remote areas to reliable, high-speed Internet, serving as an affordable option for budget constrained communities. Mage Networks has proven project performance on numerous public-private partnership projects, with over 50 patents in Canada, the USA, and Europe.

Mage Networks is a Canadian technology developer and service provider company headquartered in Calgary, Canada. It was co-founded in 2017 by Dr. Sisso El-Hamamsy and Dr. Ahmed Zaki who together with a team of renowned engineers responsible for innovations in Wi-Fi and 4G, created MagiNet™ to offer the fastest, cheapest, most stable, and reliable broadband internet speeds to homes and businesses anywhere and everywhere in the hardest-to-reach remote & rural areas.

MagiNet™ is a new kind of proprietary technology that integrates seamlessly into all existing technologies: fiber, microwave and satellite with a connection at 1 Gigabit Per Second, boosts and extends signal strength, and is not weakened or affected by bad weather conditions. MagiNet™ provides upload and download speeds of 100 Mbps Max for unlimited internet and crystal-clear live streaming, gaming, or video calling. There are no extra fees, no data caps, no annual contracts and a “real” person is in customer support.

Mage has built and operates five (5) networks in Canada. It partners with ROVR in the Cayman Islands for a network covering Georgetown, Grand Cayman and Aer Wireless in the U.S. for networks in Virginia, North Carolina and Barbados. 

Media Contacts:W2 Communications for Telesattelesat@w2comm.com

Marty Tascona, VP Sales & Marketing+1 403 238 3848martyt@mage-networks.com

Forward-Looking Statements Safe Harbor

This news release contains statements that are not based on historical fact and are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and Canadian securities laws. When used herein, statements which are not historical in nature, or which contain the words “will,” “well-positioned,” “plans,” or similar expressions, are forward-looking statements. Actual results may differ materially from the expectations expressed or implied in the forward-looking statements as a result of known and unknown risks and uncertainties. All statements made in this press release are made only as of the date set forth at the beginning of this release. Telesat Corporation undertakes no obligation to update the information made in this release in the event facts or circumstances subsequently change after the date of this press release.

These forward-looking statements are based on Telesat Corporation’s current expectations and are subject to a number of risks, uncertainties and assumptions. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond Telesat Corporation’s control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. There are numerous risks and uncertainties associated with Telesat’s business and the Telesat Lightspeed constellation. Known risks and uncertainties include but are not limited to: inflation and rising interest rates; Telesat’s ability to enter into definitive funding agreements with the company’s Canadian federal and provincial government partners, and to meet the funding conditions of those agreements and of its vendor financing; technological hurdles, including our and our contractors’ development and deployment of the new technologies required to complete the constellation in time to meet our schedule, or at all; the availability of services and components from our and our contractors’ supply chains; competition; risks associated with domestic and foreign government regulation, including access to sufficient orbital spectrum to be able to deliver services effectively and access to sufficient geographic markets in which to sell those services; Telesat’s ability to develop significant commercial and operational capabilities; risks associated with operating satellites and providing satellite services, including satellite construction or launch delays, launch failures, in-orbit failures or impaired satellite performance; and volatility in exchange rates. The foregoing list of important factors is not exhaustive. Investors should review the other risk factors discussed in Telesat Corporation’s annual report on Form 20-F for the year ended December 31, 2022, that was filed on March 29, 2023, with the United States Securities and Exchange Commission (“SEC”) and the Canadian securities regulatory authorities at the System for Electronic Document Analysis and Retrieval (“SEDAR”), and may be accessed on the SEC’s website at https://www.sec.gov/ and SEDAR’s website at https://www.sedarplus.ca/ as well as our subsequent reports on Form 6-K filed with the SEC and also available on SEDAR.