Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 194

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 194
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’s customers. Demand for certain of these off-network services has declined with reductions in troop deployment in regions of conflict;                                                                                               |

| • |     | The pace and extent of adoption of Intelsat’s broadband connectivity and wireless IFE services for use on    
 domestic and international commercial aircraft by Intelsat’s current and new airline partners and customers; |

| • |     | The number of aircraft in service in Intelsat’s markets, including consolidation of the airline industry or 
 changes in fleet size by one or more of Intelsat’s commercial airline partners; and                         |

| • |     | The economic environment and other trends that affect air travel, including disruptions to supply chains and 
 installations.                                                                                               |

| • |     | Increased competition from non-geostationary orbit operators who are 
 planning to enter multiple markets targeted by Intelsat.             |

Pricing Pricing of Intelsat’s transponder services is based upon several factors, including, but not limited to, the region served by the capacity, the power and other characteristics of the satellite beam, the amount of demand for the capacity available on a particular satellite and the total supply of capacity serving any particular region. In 2023, overall pricing trends were flat from prior year, with media and government stability balancing some price pressure in networks and mobility. Media rates stabilized compared to 2022, primarily due to the limited and highly coveted C-bandcapacity in upper frequencies as an increasing number of countries target lower bands for 5G demand. Government applications continued to command a premium based on coverage capabilities, particularly in areas of regional conflict. Mobility rates were stable in 2022 as demand for services rebounded in the post-COVID-19environment. Demand for services continued to be strong in 2023, but increased supply (including from non-geostationaryorbit) drove a decline in rates for some maritime and aeronautical broadband services. In networks, high-volume commitments from mobile network operators for cellular backhaul services continued to yield lower prices, but rates otherwise were relatively stable. Intelsat expects to see increased pressure on networks pricing as non-geostationaryorbit supply increases in 2024. According to Euroconsult Group, the annual average price per transponder for regular capacity is forecasted to be on a slight downward trend globally from $1.00 million to $0.90 million per 36MHz transponder over the period from 2023 to 2028, reflecting increasing supply from new satellite entrants,