Company: SGBAF
Filing Date: 2025-04-23
Form Type: DRS/A
Source: 0000950123-25-003652
Chunk: 243

Company: SES S.A.
Filing Date: 2025-04-23
Form: DRS/A
Chunk 243
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1.0 billion. Intelsat’s cash flows from operations and cash on hand have been sufficient to fund interest obligations of $391.8 million and $200.2 million for the years ended December 31, 2023 and 2024, respectively, and significant capital expenditures of $584.3 million and $376.1 million for the years ended December 31, 2023 and 2024, respectively. In connection with Intelsat’s participation in the FCC’s process for accelerated clearing of the C-bandspectrum pursuant to the FCC Final Order, Intelsat incurred significant upfront expenses for clearing activities well in advance of receiving reimbursement payments. As of December 31, 2024, Intelsat has incurred total (reimbursable and non-reimbursable) C-bandclearing costs of $1.9 billion, of which $1.8 billion of reimbursements has been received as of December 31, 2024. Intelsat has received all C-band related payments and reimbursements, and has completed all obligations under the FCC Final Order. 188

Confidential Treatment Requested by SES Pursuant to 17 C.F.R. Section 200.83 Intelsat’s primary source of liquidity is and is expected to continue to be cash generated from operations, as well as existing cash. Intelsat currently expects to use cash on hand and cash flows from operations to fund its most significant cash outlays, including debt service requirements and capital expenditures, in the next twelve months and beyond. In September 2023, Intelsat’s board of directors authorized and approved, subject to shareholder approval, and in December 2023, the shareholders approved, the distribution of $130.0 million out of Intelsat’s share premium to the shareholders of Intelsat in proportion to their holdings of shares of Intelsat and the holders of restricted stock units pursuant to the terms of the relevant award agreements, on the relevant record date. On January 29, 2024, Intelsat paid $1.873 per outstanding share to its common shareholders of record at the close of business on January 5, 2024, totaling $127.5 million. Additional payments were made and will continue to be made to holders of restricted stock units pursuant to the terms of the relevant award agreements upon vesting of the underlying restricted stock units. Refer to Note 9—Shareholders’ Equity of the Intelsat audited financial statements for the year ended December 31