aunches, industry multiple contraction amongst its peer group. While the fundamentals of the business remain in flux with the ex-mobility growth in Network Services yet to turnaround, an approaching media renewal cycle that will have a hit to revenues, and -20% of government contracts up for renewal in 2018, we

band and mobility segments of the satellite industry are performing well and have positive growth trajectories, many other lines of business across Network Services and Media continue to face mounting headwinds with moderate growth from other strategic services failing to make up the gap. Given the slow moving

are in the process of changing the landscape and opportunities as the major players have launched the next gen High Throughput Satellites (HTS). In Network Services, while the new capabilities provide many new benefits such as added capacity and new addressable end markets, the earliest impact of the advanced t