Telesat Corporation

All participants, please continue to stand by. The conference will begin momentarily. Once again, please continue to stand by. This conference is being recorded. Cette conférence est enregistrée. All participants, please stand by. Your conference is ready to begin. Good morning, ladies and gentlemen. Welcome to the conference call to report the first quarter 2025 financial results for Telesat. Our speakers today will be Dan Goldberg, President and Chief Executive Officer of Telesat, and Andrew Brown, Chief Financial Officer of Telesat. I would now like to turn the meeting over to Mr. James Ratliff, Vice President of Investor Relations. Please go ahead, sir.

James Ratliff Thank you, Maud. Good morning, everyone, and thank you for joining us today. Earlier this morning, we filed our quarterly report for the period ending March 31, 2025, on foreign 6K with the SEC and on CDAR+. Our remarks today may contain forward-looking statements. There are risks that TELUSAT's actual results may differ materially from the results contemplated by the forward-looking statements as a result of known and unknown risks and uncertainties. For discussion of known risks, please see TELUSAT's annual report and updates filed with the SEC. TELUSAT assumes no responsibility to update or revise these forward-looking statements. I would now like to turn the call over to Dan Goldberg, TELUSAT's President and Chief Executive Officer.

Okay, thanks James, and thank you all for joining us this morning. My opening remarks today are going to be quite short, given we hosted an earnings call just six weeks ago when we released our Q4 and full year numbers. I'm pleased with Telesat's performance in the first quarter in both our GEO and our LEO segments. In GEO, the team continues to demonstrate disciplined execution in a challenging market environment. And in LEO, we're making excellent progress with Telesat Lightspeed on both the technical and commercial fronts. In addition to the agreements with Orange and ADN that we announced earlier, and the term sheet with Space Norway announced in March, we signed a significant multi-year agreement with Viasat in April, just last month. Viasat is a sophisticated satellite operator and service provider and is today the largest provider of in-flight broadband connectivity services to the commercial airline industry and an important provider for defense applications, including to the U.S. government. As such, the meaningful commitment to Telesat Lightspeed that they've made is a powerful and concrete testimony to the capabilities of the Lightspeed constellation and the huge opportunity we have in the fast-growing enterprise and government service markets. The last time we spoke, I said we believed our LEO backlog at the end of 2025 would eclipse the 1.1 billion Canadian dollars of GEO backlog that we reported at the end of 2024, assuming foreign exchange is more or less stable. We're at nearly 1.1 billion Canadian in LEO backlog today, And I'm optimistic we'll be able to secure additional commitments over the balance of this year, which would allow us to achieve our LEO backlog expectations. We have a robust pipeline of opportunities and strong momentum and are very focused on closing additional deals. So with that, I'll hand over to Andrew, who will speak to the numbers in more detail, and then we'll open the call up to questions.