Company: SGBAF
Filing Date: 2025-04-29
Form Type: F-4
Source: 0001193125-25-103898
Chunk: 223

Company: SES S.A.
Filing Date: 2025-04-29
Form: F-4
Chunk 223
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ponder services—an aggregate decrease of $109.1 million, primarily due to a                                                                                                                                                              
 $44.7 million net decrease in revenue from mobility customers, a $40.6 million net decrease in revenue from network services customers, a $14.9 million net decrease in revenue from government customers and an $8.9 million net decrease in 
 revenue from media customers. The decrease in revenue was primarily driven by non-renewals, price reductions, capacity downgrades, the termination of services and service transfers to managed services,                                     
 partially offset by new services, service expansions and transfers from managed services and off-network services.                                                                                                                            |

| • |     | Managed services—an aggregate decrease of $13.8 million, primarily due to a $23.4 million                                                                                                                                                                                          
 net decrease in revenue from media customers, a $5.3 million net decrease in revenue from mobility customers and a $1.4 million net decrease in revenue from government customers, partially offset by a $16.8 million net increase in revenue from                                
 network services customers. The decrease in revenue from media, mobility and government customers was primarily driven by non-renewals, capacity downgrades, the termination of services, service transfers to transponder services and a decrease in                              
 equipment sales, partially offset by new services, service expansions and service transfers from transponder services. The increase in revenue from network services customers was mainly driven by service transfers from transponder services and                                
 revenue recognized as a result of new or amended sales-type leases (see Note 10—Leases of the Intelsat audited financial statements for the year ended December 31, 2024 included elsewhere in this prospectus), partially offset by non-renewals and the termination of services. |

184

Off-networkand Other Revenues:

| • |     | Transponder, MSS and other off-network services—an aggregate                                                                                                                                                                                 
 increase of $19.6 million, primarily attributable to a $26.2 million net increase in revenue from government customers mainly due to new services, partially offset by a $4.9 million net decrease in revenue from mobility customers mainly 
 due to service transfers to transponder services.                                                                                                                                                                                            |

| • |     | Satellite-related services—an aggregate increase of $9.4 million, primarily due to revenue recognized                                                                                                                                          
 as a result of a new sales-type lease (see Note 10—Leases of the Intelsat audited financial statements for the year ended December 31, 2024 included elsewhere in this prospectus) and new