Company: SGBAF
Filing Date: 2025-04-23
Form Type: DRS/A
Source: 0000950123-25-003652
Chunk: 255

Company: SES S.A.
Filing Date: 2025-04-23
Form: DRS/A
Chunk 255
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 that occurred during 2022. |

Depreciation and Amortization

| • |     | Depreciation and amortization expense decreased by $29.9 million, or 5%, to $536.4 million for the year                      
 ended December 31, 2023, as compared to $566.3 million for the year ended December 31, 2022, primarily due to the following: |

| • |     | a decrease of $41.3 million in depreciation expense due to the impacts of the adoption of Fresh Start 
 Accounting, including lower fair values of satellites and other property and equipment; and           |

| • |     | a decrease of $37.8 million in depreciation expense due to the timing of certain satellites, teleport assets 
 and data center assets becoming fully depreciated; partially offset by                                       |

| • |     | an increase of $35.2 million in depreciation expense resulting from the impact of satellites and other 
 assets placed into service; and                                                                        |

| • |     | an increase of $13.8 million in depreciation expense due to new finance leases that commenced during 2023. |

Satellite Impairment Intelsat recognized an impairment charge of $5.2 million for the year ended December 31, 2022 related to the Galaxy 15 satellite, with no comparable amount for the year ended December 31, 2023. Impairment of Goodwill, Non-AmortizableIntangibles and Other Assets Intelsat recognized an impairment charge of $321.3 million for the year ended December 31, 2022 relating to goodwill for the Intelsat CA reporting unit. Intelsat recognized an impairment charge of $6.4 million for the year ended December 31, 2023 related to certain supplemental type certificates and other assets. Other Operating Expense (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-bandincreased by $575.9 million to $643.9 million for the year ended December 31, 2023, as compared to $68.0 million for the year ended December 31, 2022, primarily due to following:

| • |     | the 2023 recognition of reimbursement income of $720.9 million as a result of Phase II Validation, and |

| •