Company’s Astrocast Constellation Will Leverage 64 Nanosatellites in
Low Earth Orbit to Drive Efficiencies Across Numerous Key Industries Worldwide

Lausanne, Switzerland (August 8, 2017) – ELSE SA, the Swiss new space start-up, today
announced the funding of a $3 million seed round. The successful capital raise was enabled by a
group of investors including Airbus Ventures, a Geneva-based Independent Assets Manager and
Multi Family Office, as well as numerous additional Swiss- and internationally-based private
investors. The seed round follows $3 million previously raised by the company in public support.
ELSE SA is currently developing a network of Low Earth Orbit (LEO) nanosatellites named
Astrocast that will provide cost effective IoT and machine-to-machine services to global
enterprises. The seed round will support ELSE’s complete business operations through the
company’s planned demonstration mission expected in mid-2018, which will launch the first two
nanosatellites into LEO.

“We are extremely pleased to partner with this group of investors during this critical
development phase of Astrocast,” said Fabien Jordan, Co-Founder, CEO & Chairman of ELSE SA.
“This seed round validates our ambitious plan to connect the planet and enhance machine-to-machine
communications through our innovative satellite constellation and network technology.
We are looking to disrupt and serve numerous industries and this successful capital raise is an
important milestone for us in that plan.”

Astrocast is designed to provide unlimited coverage all over the planet, with no geographical
limitations. The constellation will comprise a total of 64 nanosatellites with ELSE projecting all to
be in orbit by 2021. The satellites will collect data, which will be delivered to ground stations,
then distributed for access by customers through a secure Internet gateway. Astrocast is
expected to drive efficiencies and operational cost advantages across numerous sectors
including retail, agriculture, automotive, transportation & logistics, utilities, maritime, oil and
gas, among many others.

“The machine-to-machine sector is burgeoning with new utilizations and benefits identified
constantly,” added Jordan. “While we have a clear idea of numerous applications and industries
that Astrocast will serve, we learn of more all the time, further solidifying our resolve in
delivering this constellation.”

The Astrocast mission is also supported by Swiss grants and by the European Space Agency (ESA)
through the agency’s Advanced Research in Telecommunications Systems (ARTES) program,
which transforms research and development investment into successful commercial products.
ELSE SA was founded in 2014 by the team that developed the widely successful SwissCube, a
single-unit CubeSat, Switzerland’s first satellite.

“Our team’s experience is proven by the SwissCube mission, a satellite projected to last no more
than one year yet is still fully functional today, nearly eight years post launch,” said Jordan.
“Other key members of our leadership team bring a wealth of expertise in the areas of launch,
space systems, finance, and business development – all of which is being leveraged to bring the
vision of Astrocast to life.”

“We, at Airbus Ventures, have decided to invest in ELSE, as we believe in the development of
machine-to-machine communications and we have been convinced by the cost-effective
innovative satellite constellation and network technology which ELSE will be providing,” said Mr.
Francois Auque, Airbus Ventures’ Chairman of the Board of the fund’s General Partner entity.
“We are happy to foster further cooperation between ELSE and Airbus.”

ELSE SA will now transition into funding its Series A round, which is expected to close in 2018.
“We already have commitments and great interest in our Series A and fully expect it to be a
success,” added Jordan.

Visit ELSE online at www.astrocast.net for additional information about Astrocast.

About ELSE SA
ELSE is a Swiss company based in Lausanne developing the Low Earth Orbit (LEO) nanosatellite
constellation Astrocast, providing diverse global industries with a cost effective IoT and M2M
communication platform. ELSE was founded in 2014 by the developers of SwissCube, one of the
longest servicing nanosatellites in space. Please visit us at www.astrocast.net

About Airbus Ventures
Airbus Ventures is a Silicon Valley-headquartered, early-stage investment fund that operates
with autonomy and trust within Airbus Group. The group’s autonomy is essential as it
successfully funds companies worldwide. The fund is nimble, valuable and energetic in their
work with startups that will impact all life on Earth and beyond.

(Oakbrook Terrace, Illinois)—Picone Advisory Group has successfully negotiated and closed the sale of a significant property in Wheaton, Illinois. The parcel of land and structures on it had been owned by The Institute for the Blessed Virgin Mary (IBVM) since 1946 and was sold to PulteGroup. The sale closed in May 2017.

The complicated deal had many moving parts, all of which were managed by Picone Advisory Group, thus showcasing the firm’s broad capabilities and ability to handle large-scale, complex projects. The company specializes in strategic planning, mergers and acquisitions, operational enhancement, business turnarounds and restructurings, asset disposition, litigation support, neutral claim administration, real estate, and crisis management.

Picone Advisory Group was retained in June 2013 to provide IBVM with real estate consulting services. IBVM is a worldwide religious community of Catholic women dedicated to serving God by responding to the needs of people through educational, pastoral and social ministries. In Illinois, the Sisters resided in a convent at the Loretto Center located on the Wheaton property. The 16-acre parcel included a 19th century mansion on its landscaped grounds.

The first order of business was a full assessment of the property, including current operations and potential revenue generating opportunities. Upon completion of the evaluation, Picone Advisory Group presented several strategic options to the IBVM Advisory Board.

“Our recommendation was to sell the property,” said Christopher L. Picone, president of Picone Advisory Group. “We firmly believed that was in the best interest of the organization and all of the Sisters.”

Although it was a difficult decision to sell the estate that had been their home for 71 years, the IBVM Advisory Board agreed with Picone Advisory Group’s recommendation. At this point, the strategic consulting firm conducted a confidential marketing process to locate the most advantageous buyer. This yielded multiple offers and Picone Advisory Group helped the organization analyze them all. The firm also managed the due diligence process and negotiated with potential purchasers.

According to Picone, “This was a very complicated sale due to significant environmental contamination on site, complex zoning issues, and the historic nature of the 19th century mansion located on the property. So we knew not everyone would be the right fit.”

And, in fact, two contracts were terminated during the due diligence period for various reasons. Ultimately, Picone Advisory Group inked a deal with PulteGroup that successfully closed in May 2017.

Prior to closing, full remediation of the property was completed and a No Further Remediation (NFR) letter was issued by the Illinois EPA. This letter confirms that the site does not constitute a significant risk of harm to human health or the environment.

Picone Advisory Group worked closely with both PulteGroup and the City of Wheaton to receive municipal approval of development plans despite significant public opposition. The firm also worked with PulteGroup to obtain approval from the Illinois Historic Preservation Agency to allow demolition of the historic building. This included a “museum quality” archive process.

But the firm’s role did not stop there. Picone Advisory Group supported IBVM even further by coordinating the relocation of the Sisters and the disposition of surplus furniture and other salvage items prior to the May 2017 closing.

Today, PulteGroup has begun sales for the 48 homes that will be built on the land. Proceeds from the sale of the property are being used to fund IBVM’s retirement plan and health care needs as well as continue the order’s mission.

“It’s rewarding to have found a solution that put this not-for-profit’s retirement fund back in a solid financial position,” said Picone.

Based in Chicago’s western suburbs, Picone Advisory Group provides consulting services to an international client base in a wide variety of industry settings including: financial services, manufacturing, aerospace, building and construction, food and food service, homeland security and first response, healthcare, energy, real estate, wholesale and retail services, technology, telecommunications, and transportation.

After Picone Advisory Group worked to execute the sale of the Loretto Convent site to a developer, the firm jointly worked with the purchaser to overcome complex zoning, environmental and historical preservation issues, culminating in the project receiving unanimous final City Council approval for a 48-unit, age-targeted, luxury residential real estate development.

Read more about this project in Crain’s Chicago Business
https://www.chicagobusiness.com/realestate/20170228/CRED0701/170229891/wheaton-residents-balk-over-plan-to-demolish-historic-mansion

Read more about this project in the Business Ledger
https://www.dhbusinessledger.com/article/20170323/business/170329496/?utm_source=business%20edge%20alert&utm_medium=email&utm_content=article%20column&utm_campaign=Business%20Edge%20Alert3%2F23%2F2017

View this story from CBS Chicago:
https://www.youtube.com/watch?v=oh6mtuAoXU4

(Oakbrook Terrace, Illinois)—With strategic guidance from Picone Advisory Group, Swiss space startup ELSE has formed a strategic alliance with Thuraya Telecommunications Company, a mobile satellite service operator.

Signing a memorandum of understanding (MoU) allows both companies to collaborate and benefit from each other’s capabilities on multiple fronts including technical, regulatory, and sales and marketing. In addition to expediting access to the market, the agreement between Thuraya and ELSE extends both their product and service portfolios.

Picone Advisory Group had been retained by ELSE to assist the Swiss company acquire funding for its 64-nanosatellite constellation AstroCast. AstroCast is a network of nanosatellites that will provide global machine-to-machine (M2M) communication for businesses worldwide. The constellation will allow companies to affordably connect assets—whatever and wherever they are—to information systems through Internet of Things (IoT) services.

“We are pleased to have assisted ELSE in developing this significant strategic relationship with Thuraya,” said Christopher L. Picone, president of Picone Advisory Group. “This is a big step toward achieving ELSE’s goal of a first satellite launch in 2018.”

“As an established company, Thuraya brings experience, skill and a reputable legacy to the table,” said Fabien Jordan, co-founder and CEO of ELSE. “ELSE shall benefit greatly from its technology and distribution reach. We are very excited about the possibilities this alliance will create.”

The first satellites are scheduled for launch by 2018, as a demonstration mission, with a plan to have a total of 64 satellites in orbit by 2021. Once fully operational, the constellation will provide remote monitoring, geolocation services, predictive maintenance, and intelligent data gathering. The full scope of markets that will benefit from these capabilities include retail, agriculture, automotive, utilities, maritime, oil, and gas, among others.

In addition to building AstroCast, a network of low-earth-orbit (LEO) nanosatellites that will provide cost effective IoT and M2M services to global enterprises, the ELSE team has supported more than 10 European Space Agency (ESA) missions and seven nanosatellite missions. This mission is also supported by ESA through their ARTES program.

Thuraya Telecommunications Company is an industry leading MSS operator and a global telecommunications provider offering innovative communications solutions to a variety of sectors including energy, broadcast media, maritime, military and humanitarian NGO. Thuraya’s network enables clear communications and uninterrupted coverage across two thirds of the globe by satellite and across the whole planet through its unique GSM roaming capabilities. The company’s diverse range of mobile satellite handsets and broadband devices provide ease of use, value, quality, and efficiency.

ELSE is based in Lausanne, Switzerland and was founded in 2014 by the developers of SwissCube, one of the longest servicing nanosatellites in space.

Picone Advisory Group was called in to assist ELSE obtain financing for the AstroCast project. Based in Chicago’s western suburbs, the firm provides consulting services to an international client base in a wide variety of industry settings including: financial services, manufacturing, aerospace, building and construction, food and food service, homeland security and first response, healthcare, energy, real estate, wholesale and retail services, technology, telecommunications, and transportation.