Company: SGBAF
Filing Date: 2025-04-29
Form Type: F-4
Source: 0001193125-25-103898
Chunk: 243

Company: SES S.A.
Filing Date: 2025-04-29
Form: F-4
Chunk 243
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 expense related to the significant financing component identified in customer contracts. |

Interest Income Interest income decreased by $70.1 million to $239.8 million for the year ended December 31, 2023, as compared to $309.9 million for the year ended December 31, 2022, primarily due to the following:

| • |     | a decrease of $59.8 million related to lower accretion of interest income associated with Intelsat’s 
 expected receipt of the Phase II ARP. The ARP rights were derecognized upon Phase II Validation; and |

| • |     | a decrease of $30.4 million due to the release of allowances for credit losses in relation to Fresh Start                           
 Accounting for the year ended December 31, 2022, with no similar activity for the year ended December 31, 2023; partially offset by |

| • |     | an increase of $19.3 million primarily due to higher invested funds and higher interest rates. |

Other Income (Expense), Net Other expense, net decreased by $122.0 million to $1.0 million for the year ended December 31, 2023, as compared to $123.0 million for the year ended December 31, 2022, primarily due to the following:

| • |     | a decrease of $142.9 million due to $152.5 million of expense recognized for the year ended                                                                                            
 December 31, 2022 related to the change in the fair value of contingent value rights, as compared to $9.6 million of expense for the year ended December 31, 2023; partially offset by |

| • |     | an increase of $20.8 million due to income for the year ended December 31, 2022 related to an insurance   
 claim for the Galaxy 30 satellite anomaly, with no similar activity for the year ended December 31, 2023. |

Gain on Disposition of ARP Rights Intelsat recognized a gain on disposition of ARP rights of $139.0 million for the year ended December 31, 2023 upon Phase II Validation. There was no comparable amount for the year ended December 31, 2022. 198

Reorganization Items Reorganization items reflect expenses, gains and losses directly and incrementally resulting from Intelsat’s Chapter 11 restructuring activities. Intelsat recognized a net gain for reorganization items of $4.6 billion for the year ended December 31