Company: SGBAF
Filing Date: 2025-04-23
Form Type: DRS/A
Source: 0000950123-25-003652
Chunk: 239

Company: SES S.A.
Filing Date: 2025-04-23
Form: DRS/A
Chunk 239
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31, 2024. See Note 6—Satellites and Other Property and Equipment of the Intelsat audited financial statements for the year ended December 31, 2024 included elsewhere in this prospectus for further discussion. Impairment of Goodwill and Other Intangible Assets Intelsat recognized an impairment charge of $290.7 million for the year ended December 31, 2024 related to goodwill, as compared to an impairment charge of $6.4 million for the year ended December 31, 2023 related to certain supplemental type certificates and other assets. See Note 7—Goodwill and Other Intangible Assets of the Intelsat audited financial statements for the year ended December 31, 2024 included elsewhere in this prospectus for further discussion. Other Operating Income, Net—C-band Other operating income, net—C-bandconsists of reimbursable and non-reimbursablecosts and offsetting income associated with Intelsat’s C-bandspectrum relocation efforts. Other operating income, net—C-banddecreased by $356.9 million, 55% to $287.0 million for the year ended December 31, 2024, as compared to $643.9 million for the year ended December 31, 2023, primarily due to a decrease in the recognition of reimbursement income of $416.6 million, partially offset by a decrease of $59.7 million in expenditures as a result of Intelsat completing the C-band spectrum clearing project in 2023. See Note 1—Background and Summary of Significant Accounting Policies of the Intelsat audited financial statements for the year ended December 31, 2024 included elsewhere in this prospectus for further discussion. Interest Expense Interest expense decreased by $170.2 million, or 39%, to $267.2 million for the year ended December 31, 2024, as compared to $437.4 million for the year ended December 31, 2023, primarily due to the following:

| • |     | a decrease of $201.1 million in interest expense on notes payable primarily resulting from the full 
 repayment of the 2029 Term Loans in October 2023; and                                               |

| • |     | a decrease of $12.5 million in interest expense related to the significant financing component identified in 
 customer contracts due to lower contract balances; partially offset by                                       |

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Confidential Treatment Requested by SES Pursuant to