Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 203

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 203
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 leases primarily resulting from new 
 finance leases that commenced during 2023; partially offset by                                          |

138

Confidential Treatment Requested by SES Pursuant to 17 C.F.R. Section 200.83

| • |     | a decrease of $10.9 million in interest expense related to the significant financing component identified in 
 customer contracts due to lower contract balances.                                                           |

| • |     | The non-cash portion of total interest expense was $92.7 million and                                                                                                                                  
 $80.5 million for the years ended December 31, 2022 and 2023, respectively, primarily consisting of interest expense related to the significant financing component identified in customer contracts. |

Interest Income Interest income decreased by $70.1 million to $239.8 million for the year ended December 31, 2023, as compared to $309.9 million for the year ended December 31, 2022, primarily due to the following:

| • |     | a decrease of $59.8 million related to lower accretion of interest income associated with Intelsat’s                                                                                                                                          
 expected receipt of the Phase II ARP. The ARP rights were derecognized upon Phase II Validation. See Note 8—Goodwill and Other Intangible Assets of the Intelsat audited financial statements for the period ended December 31, 2023 included 
 elsewhere in this prospectus; and                                                                                                                                                                                                             |

| • |     | a decrease of $30.4 million due to the release of allowances for credit losses in relation to Fresh Start                           
 Accounting for the year ended December 31, 2022, with no similar activity for the year ended December 31, 2023; partially offset by |

| • |     | an increase of $19.3 million primarily due to higher invested funds and higher interest rates. |

Other Income (Expense), Net Other expense, net decreased by $122.0 million to $1.0 million for the year ended December 31, 2023, as compared to $123.0 million for the year ended December 31, 2022, primarily due to the following:

| • |     | a decrease of $142.9 million due to $152.5 million of expense recognized for the year ended                                                                                            
 December 31, 2022 related to the change in the fair value of contingent value rights, as compared to $9.6 million of expense for the year ended December 31, 2023; partially offset