This first Strategic Research and Innovation Agenda (SRIA) for Earth Observation sets out a comprehensive framework for Copernicus' research and technological development. It outlines key priorities for the Horizon Europe Work Programmes for 2025-2027 and beyond into the next Multi-annual Financial Framework, ensuring that Copernicus and its products and services remain state-of-the-art. Copernicus, a key component of the EU Space Programme, provides Earth observation data through satellites, contributing missions, and in-situ data sources. This wealth of information is transformed into actionable services across six thematic areas: land, ocean, atmosphere, climate change, emergency, and security. The SRIA aims to ensure the continuity and evolution of these services. The SRIA outlines how Earth Observation (EO) is integral to the EU Policy goals, such as in the implementation of the European Green Deal. The SRIA will contribute to guiding Copernicus' evolution, emphasizing agile, resilient data streams, digital transformation, and expanded services. Enhancing policy uptake and downstream adoption is crucial, ensuring Copernicus meets evolving user needs and drives economic growth, societal well-being, and security in Europe. The report emphasizes the need for comprehensive support for Copernicus' services, ensuring they stay relevant and beneficial for European and global policy goals. The SRIA addresses the individual R&I needs of each service and their components.