Company: SGBAF
Filing Date: 2025-04-01
Form Type: DRS/A
Source: 0000950123-25-003272
Chunk: 206

Company: SES S.A.
Filing Date: 2025-04-01
Form: DRS/A
Chunk 206
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ated Relocation Payments” or “ARPs”). Under the FCC Final Order, Intelsat is 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.

During the years
ended December 31, 2023 and 2024, Intelsat received $209.0 million and $602.9 million, respectively, of reimbursements for C-band clearing costs. As of December 31, 2024, Intelsat has received a total

148

Confidential Treatment Requested by SES

Pursuant to 17 C.F.R. Section 200.83

of $1.8 billion in reimbursements. Intelsat has received all C-band related payments and reimbursements, and has completed all applicable obligations under the FCC Final Order.

For the years ended December 31, 2023 and 2024, Intelsat recognized reimbursement income of $720.9 million and $304.3 million,
respectively, which is included within “Other operating expense (income), net—C-band” on Intelsat’s consolidated statements of operations.

Intelsat 33e Anomaly

In October 2024,
the Intelsat 33e satellite (in service since 2017) experienced an anomaly that resulted in a total loss of the satellite. In accordance with Intelsat’s existing satellite anomaly contingency plans, it restored service for most Intelsat 33e
customers on other satellites in Intelsat’s network, as well as on third-party satellites. Intelsat recorded a non-cash impairment charge of $100.9 million in the fourth quarter of 2024, which is included within “Satellite impairment”
in Intelsat’s consolidated statements of operations, of which $97.0 million related to the full carrying value of the satellite and $3.9 million related to prepaid coordination fees.

A failure review board has been formed with the satellite’s manufacturer, Boeing, to complete a comprehensive analysis of the most likely
cause of the anomaly. The analysis is still ongoing as of the date of this prospectus.

Intelsat 30

In February 2025, the Intelsat 30 satellite experienced a mechanical malfunction. In March 2025, Intelsat completed the troubleshooting
process, and the satellite is functioning nominally. The malfunction did not have any impact to the provision of services to Intelsat’s customer.

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