Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 213

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 213
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1 million and $107.1 million, respectively. Capital Expenditures Intelsat’s capital expenditures depend on its business strategies and reflect its commercial responses to opportunities and trends in its industry. Intelsat’s actual capital expenditures may differ from its expected capital expenditures if, among other things, it enters into any currently unplanned strategic transactions. Levels of capital spending from one year to the next are also influenced by the nature of the satellite life cycle and by the capital-intensive nature of the satellite industry. For example, Intelsat incurs significant capital expenditures during the years in which satellites are under construction. Intelsat typically procures a new satellite within a timeframe that would allow the satellite to be deployed at least one year prior to the end of the service life of the satellite to be replaced. As a result, Intelsat frequently experiences significant variances in its capital expenditures from year to year. Payments for satellites and other property and equipment during the year ended December 31, 2023 were $584.3 million. On July 12, 2023, Intelsat License filed its Phase II Certification of Accelerated Relocation, indicating completion of required clearing activities to satisfy the December 5, 2023 accelerated clearing deadline. No challenges to the certification were made and, under the rules established pursuant to the FCC Final Order, on August 11, 2023, the certification was deemed valid and Intelsat submitted its invoice for the Phase II ARP of 144

Confidential Treatment Requested by SES Pursuant to 17 C.F.R. Section 200.83 approximately $3.7 billion. As of October 19, 2023, the entire Phase II ARP proceeds of $3.7 billion were received (see Liquidity and Capital Resources— Overview). Subsequently, a portion of these proceeds was used to repay the 2029 Term Loans in full. Intelsat intends to fund its capital expenditure requirements through cash on hand and cash provided by operating activities. The following table compares Intelsat’s satellite-related capital expenditures to total capital expenditures from 2022 through 2023 (in thousands).

| Year  
 2022  
 2023  |     | Satellite-Related    
 Capital Expenditures | 448,459 
 350,777 |     | Total Capital 
 Expenditures  |   617,985 
   584,253 |
|:------|:----|:---------------------|--------:|:----|:--------------|----------:|