Company: SGBAF
Filing Date: 2025-04-23
Form Type: DRS/A
Source: 0000950123-25-003652
Chunk: 408

Company: SES S.A.
Filing Date: 2025-04-23
Form: DRS/A
Chunk 408
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 substantially contemporaneously with the Effective Date (as defined herein)) and its subsidiaries on a consolidated basis prior to, and results of operations through and including, February 28,
2022. References to “Successor” relate to the financial position and results of operations of Intelsat S.A. and its subsidiaries on a consolidated basis as of and subsequent to February 28, 2022.

During the Predecessor period, the Company applied ASC 852, which requires the financial statements for periods subsequent to the commencement
of our bankruptcy proceedings to distinguish transactions and events that are directly associated with the reorganization from the ongoing operations of the business. Accordingly, we classified all expenses, gains or losses that were incurred or
realized as a result of the Chapter 11 proceedings as reorganization items in our consolidated statements of operations.

C-bandSpectrum Clearing

On March 3, 2020, the U.S. Federal Communications Commission
(“FCC”) issued its final order in the C-band proceeding (the “FCC Final Order”). On August 14, 2020, Intelsat License LLC (“Intelsat License”) filed its C-band spectrum transition plan with the FCC, with ongoing updates as requested by the FCC. The most recent amended and final transition plan was filed on July 11, 2023. Under the FCC Final Order, we are
entitled to receive reimbursement payments for certain C-band spectrum clearing expenses incurred, subject to the satisfaction of certain conditions set forth in the FCC Final Order.

F-110

Confidential Treatment Requested by SES

Pursuant to 17 C.F.R. Section 200.83

C-band clearing related expenditures are either
(i) capitalized under ASC 360, Property Plant, and Equipment (“ASC 360”) or other applicable accounting principles, or (ii) expensed as fulfillment costs as incurred. Fulfillment costs include costs to pay personnel or
third parties to assist with customer reconfiguration and relocation, installation of filters, and program management costs.

As of both
December 31, 2023 and 2024, we incurred reimbursable costs associated with the FCC Final Order of $1.8 billion, all of which has been received as of December 31, 2024. During the ten months ended December 31, 2022, year ended
December 31, 2023 and year ended December 31, 2024, we received $940.8 million, $209.0 million