SCHEDULE: Redwood Capital Updates EchoStar Stake to 3.6%

Redwood Capital Management and its affiliates have filed an amended Schedule 13G, reporting a 3.6% beneficial ownership in EchoStar Corporation's Class A common stock.

Summary

• Redwood Capital Management LLC, Redwood Capital Management Holdings, LP, Double Twins K, LLC, and Ruben Kliksberg collectively reported beneficial ownership of 5,599,799 shares of EchoStar Corporation's Class A common stock.
• This ownership represents 3.6% of the Class A common stock outstanding.
• The filing is an Amendment No. 2 to a previously filed Schedule 13G, updating information from Amendment No. 1 filed on November 14, 2025.
• The reporting persons share both voting and dispositive power over all 5,599,799 shares.
• The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of EchoStar Corporation.
• All reported securities are directly owned by advisory clients of REDWOOD CAPITAL MANAGEMENT LLC, with no single client beneficially owning more than 5% of the Class A common stock.

Sentiment

Score: 5

Explanation: The filing is purely informational, reporting an update to beneficial ownership, and does not contain positive or negative news regarding the company's operations or financial performance.

Positives

• NA

Negatives

• NA

Risks

• The filing explicitly states that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of EchoStar Corporation, mitigating potential activist investor risks.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding EchoStar Corporation's future performance or strategic direction.

Management Comments

• Ruben Kliksberg, as Managing Member, certified that the securities were acquired and are held in the ordinary course of business and not for the purpose of or with the effect of changing or influencing the control of the issuer.

Industry Context

This is a routine disclosure of institutional ownership, common in the financial industry, providing transparency on significant holdings by investment managers. It does not inherently reflect broader industry trends for the satellite or communications sector beyond the general activity of institutional investors in public equities.

Comparison to Industry Standards

• NA

Related Party Transactions

• Redwood Capital Management Holdings, LP is the sole member of REDWOOD CAPITAL MANAGEMENT LLC.
• Double Twins K, LLC is the general partner of Redwood Capital Management Holdings, LP.
• Ruben Kliksberg is the Managing Member of Double Twins K, LLC and is considered a control person for REDWOOD CAPITAL MANAGEMENT LLC.
• All securities reported are directly owned by advisory clients of REDWOOD CAPITAL MANAGEMENT LLC.

Stakeholder Impact

• Shareholders receive updated transparency regarding the beneficial ownership stake held by Redwood Capital Management and its affiliates in EchoStar Corporation.

Next Steps

• NA

Key Dates

Keywords

EchoStar Corporation, ECHOSTAR, Class A common stock, Schedule 13G, Beneficial Ownership, Redwood Capital Management, Institutional Investor, SEC Filing