SCHEDULE 13G/A 0001796409 XXXXXXXX LIVE 6 Class B Variable Voting Shares, no par value per share 06/30/2025 0001845840 Telesat Corp 879512309 160 ELGIN ST SUITE 2100 OTTAWA A6 K2P 2P7 Rule 13d-1(b) Heard Capital LLC DE 1519410.00 1519410.00 1519410.00 10.4 IA OO Heard Investment Manager LLC DE 1519410.00 1519410.00 1519410.00 10.4 OO Heard William X1 1519410.00 1519410.00 1519410.00 10.4 IN William E. Heard Declaration of Trust IL 1519410.00 1519410.00 1519410.00 10.4 OO Telesat Corp 160 ELGIN ST, SUITE 2100, OTTAWA, ONTARIO, CANADA, K2P 2P7 This Schedule 13G is being filed by (i) Heard Capital LLC ("Heard Capital"), (ii) Heard Investment Manager LLC ("Heard Investment Manager"), (iii) William E. Heard Declaration of Trust (the "Heard Trust"), and (iv) William Heard ("Mr. Heard"). The foregoing persons are hereinafter collectively referred to as the "Reporting Persons." The Reporting Persons have entered into a Joint Filing Agreement, dated as of May 15, 2025, a copy of which was previously filed as Exhibit 99.1 to Schedule 13G/A filed with the Securities and Exchange Commission on May 15, 2025 by the Reporting Persons. Accordingly, the Reporting Persons are hereby filing a joint Schedule 13G/A. The address of each of the Reporting Persons is 1 N. Wacker Dr., Ste. 3650, Chicago, IL 60606. The citizenship of each of the Reporting Persons is set forth in Row 4 of the cover page for such Reporting Person, which is incorporated herein by reference. N IA HC The information set forth in Row 9 of each of the cover pages to this Schedule 13G filing is incorporated herein by reference. As of June 30, 2025, there were 1,519,410 shares of Class B variable voting shares of Telesat Corporation ("Issuer"), no par value (collectively, the "Shares"), held in the name of Heard High Conviction Long Only Fund LLC (the "Long Only Fund") and separate accounts ("SMAs") for which Heard Capital serves as the investment manager with sole voting, disposition and investment power over the Shares. Heard Investment Manager is the sole member of Heard Capital, the Heard Trust is the sole member of Heard Investment Manager, and Mr. Heard is the sole trustee of the Heard Trust. As a result of the foregoing, for purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended, each of Heard Capital, Heard Investment Manager, the Heard Trust and Mr. Heard may be deemed to beneficially own the Shares. The information set forth in Row 11 of each of the cover pages to this Schedule 13G filing is incorporated herein by reference. The percentage set forth in this Schedule 13G is calculated based upon an aggregate of 14,682,322 total Class A common shares and Class B variable voting shares of Telesat Corporation outstanding as of June 30, 2025, as reported in the Issuer's Quarterly Report on Form 6-K, filed with the Securities and Exchange Commission on August 6, 2025. The information set forth in Row 5 of the cover page for each Reporting Person is incorporated herein by reference. The information set forth in Row 6 of the cover page for each Reporting Person is incorporated herein by reference. The information set forth in Row 7 of the cover page for each Reporting Person is incorporated herein by reference. The information set forth in Row 8 of the cover page for each Reporting Person is incorporated herein by reference. N See Item 4(a). The Long Only Fund and the SMAs have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Shares. Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11. Heard Capital LLC /s/ William Heard 08/14/2025 Heard Investment Manager LLC /s/ William Heard 08/14/2025 Heard William /s/ William Heard 08/14/2025 William E. Heard Declaration of Trust /s/ William Heard 08/14/2025