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Disclaimer This document contains figures from audited consolidated financial statements prepared under IFRS, reviewed by the Audit Committee on 29 July 2019 and adopted by the Board of Directors of Eutelsat Communications on 30 July 2019. These accounts will be subject to the approval of shareholders of Eutelsat Communications at the Annual General Shareholders Meeting of 7 November 2019. EBITDA, EBITDA margin, Net debt / EBITDA ratio, Cash Capex and Discretionary Free-Cash-Flow are considered as Alternative Performance Indicators. Their definition and calculation can be found in appendix 3 of the Press Release. Data at 30 June 2018 have been restated to reflect the retrospective adoption of IFRS 15 on 1 July 2018. The impact of the application of IFRS 15 is presented in the note 3 to the consolidated financial statements. The Group adopted IFRS 16 and IFRS 9 on 1 July 2018 2 


































































































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