Company: SGBAF
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001193125-25-120606
Chunk: 236

Company: SES S.A.
Filing Date: 2025-05-15
Form: 424B3
Chunk 236
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 liquidity, capital expenditures or capital resources. 194

Contractual Obligations The following information details Intelsat’s commitments for obligations as of December 31, 2024, that are not included in the Notes to Consolidated Financial Statements of the Intelsat audited financial statements for the year ended December 31, 2024 included elsewhere in this prospectus: Secured Debt.Interest payments of $195.0 million, $195.0 million, $195.0 million, $195.0 million, $195.0 million and $96.5 million are due in the years 2025, 2026, 2027, 2028, 2029 and thereafter, respectively, on the 2030 Jackson Secured Notes. See Note 8—Debt of the Intelsat audited financial statements for the year ended December 31, 2024 included elsewhere in this prospectus for further detail of Intelsat’s debt principal payments. Income Tax Contingencies.This amount totals $58.6 million. The timing of future cash flows from income tax contingencies cannot be reasonably estimated. See Note 13—Income Taxes of the Intelsat audited financial statements for the year ended December 31, 2024 included elsewhere in this prospectus for further discussion of income tax contingencies. For other commitments for obligations as of December 31, 2024, see the following sections of this prospectus:

| • |     | Note 10—Leases for further detail of Intelsat’s lease activities; |

| • |     | Note 11—Retirement Plans and Other Retiree Benefits for further detail of Intelsat’s pension 
 obligations; and                                                                             |

| • |     | Note 14—Contractual Commitments for further detail of Intelsat’s purchase obligations, inclusive of                                                                                                                                                   
 obligations under satellite construction, launch and in-orbit delivery contracts, satellite capacity and teleport commitments, estimated payments to be made on performance incentive obligations related to certain satellites that are currently in 
 orbit, and Horizons-3 Satellite LLC and Horizons-4 Satellite LLC capital contributions and capacity purchase obligations.                                                                                                                             |

195

COMPARISON OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022. Results of Operations The following table sets forth Intelsat’s comparative statements of operations for the periods shown with the increase / (decrease) and percentage changes, except