The objectives of the preparatory phase for EST are: (1) to explore possible legal frameworks and related governance schemes that can be used by agencies to jointly establish, construct and operate EST as a new research infrastructure, with the implementation of an intermediate temporary organisational structure, as a previous step for future phases of the project; (2) to explore funding schemes and funding sources for EST, including a proposal of financial models to make possible the combination of direct financial and in-kind contributions towards the construction and operation of EST;

(3) to compare the two possible sites for EST in the Canary Islands Astronomical Observatories and prepare final site agreements;

(4) to engage funding agencies and policy makers for a long-term commitment which guarantees the construction and operation phases of the Telescope;

(5) to involve industry in the design of EST key elements to the required level of definition and validation for their final production;

(6) to enhance and intensify outreach activities and strategic links with national agencies and the user communities of EST.