Indra Group's Extraordinary General Meeting approves the purchase of 89.68% of Hispasat

The Extraordinary General Meeting of Indra Group Shareholders, held on second call at the company's headquarters in Alcobendas, Madrid, has approved the acquisition of 89.68% of the share capital of Hispasat S.A. with the support of 99.98% of the shareholders.

Indra Group signed an agreement with Redeia Corporación on 31 January to acquire 89.68% of Hispasat, a satellite operator and service provider, for €725 million.

The sale is subject to compliance with a series of conditions precedent that are customary in this type of transaction. Following approval by the Indra Group General Meeting and once the remaining conditions have been met, it is expected that all pending formalities will be completed and the transaction will be closed before the end of the year, within the planned timeframe.

This transaction provides Indra Group with the capabilities to manufacture satellites and market satellite services, as well as to design and implement value-added solutions linked to space infrastructure. In addition, the proposed agreement will allow Indra to take control of Hisdesat and include it within the accounting consolidation perimeter.

"Large projects require large alliances, and we believe this is one of them. Hispasat brings Indra fundamental strategic advances,‘ Indra Group Executive Chairman Ángel Escribano told shareholders. ’This acquisition strengthens our industrial and technological capabilities in space, which is not only one of the decisive domains of security and defence, but also key to the development of European sovereignty. We remain steadfast in our common goal of making Indra a company that has a direct impact on the local economy and employment, while boosting its ability to compete with leading European and global technology and industrial companies."

For his part, José Vicente de los Mozos, CEO of Indra Group, stressed that "the integration of Hispasat's knowledge and capabilities allows us to cover the entire value chain and become a leading European benchmark. Space is consolidating its position as a strategic domain with a growing civil and military duality. We are talking about such important issues as secure communications and satellite surveillance to guarantee national sovereignty and the protection of our private data. In addition, the integration of Hisdesat complements our capabilities in the defence sector with one of the most advanced military satellite fleets in the world."

Composition of the Board of Directors

The shareholders present or represented at the Meeting approved the resolutions relating to the composition of the Board of Directors.

The re-election of three independent directors, María Belén Amatriain Corbi, Virginia Arce Peralta and Bernardo José Villazán Gil, as well as the proprietary director, Juan Moscoso del Prado Hernández, was approved, as a result of the expiry of their terms of office on 28 October 2025. Likewise, the ratification and re-election of María Teresa Busto del Castillo as director was approved, following her appointment by co-optation on 30 September 2025.

Finally, the shareholders voted in favour of the appointment of a new independent director, María Aránzazu Díaz-Lladó Prado. During the Meeting, the valuable contribution of the outgoing directors Coloma Armero Montes and Olga San Jacinto Martínez to the Indra Group was acknowledged.

In relation to the proposed resolution submitted to the General Meeting under item 2.5. of the agenda (Appointment of Ms. Mónica Helena Espinosa Caldas as an independent director), as reported by the Company on 26 November 2025 to the CNMV, Ms. Espinosa Caldas informed the Company by letter dated 24 November 2025 that she was unable to accept the position.

As a result of this unforeseen circumstance, the Board is now composed of fifteen members, with 46.66% independent directors and 33.33% women.

The Board will take the necessary steps to launch a selection process for a new independent director, which will be led by the Appointments, Remuneration and Corporate Governance Committee, with the advice of a specialist consultancy firm.

Once this process has been completed, the corresponding proposals to restore the 50% of independent directors and 37.50% of female representation will be submitted to a new General Shareholders' Meeting.