Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 193

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 193
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 specific service applications and geographic regions. Trends Impacting Intelsat’s Revenue Intelsat’s revenue at any given time is dependent upon a number of factors, including, but not limited to, demand for Intelsat’s services from existing and emerging applications; the supply of capacity available on Intelsat’s fleet and those of Intelsat’s competitors in a given region, and the substitution of competing technologies such as fiber optic cable networks. Trends in revenue can be impacted by:

| • |     | Growth in demand from wireless telecommunications companies seeking to complete or enhance broadband      
 infrastructure, particularly those operating in developing regions or regions with geographic challenges; |

| • |     | Growth in demand for broadband connectivity for enterprises and government organizations, providing fixed and 
 mobile services and value-added applications on a global basis;                                               |

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Confidential Treatment Requested by SES Pursuant to 17 C.F.R. Section 200.83

| • |     | Lower overall pricing for satellite-based services, resulting from oversupply of wide beam capacity or due to the 
 introduction of high-throughput technology, which is designed to achieve a lower cost per unit;                   |

| • |     | Lower demand for satellite-based solutions, resulting from fiber substitution; |

| • |     | Satellite capacity needed to provide broadband connectivity for mobile networks on ships, planes and oil and gas 
 platforms;                                                                                                       |

| • |     | Global demand for television content in standard definition, high definition and ultra-high definition television                                                           
 formats, which uses Intelsat’s satellite network and IntelsatOne terrestrial services for distribution, in some regions offset by next generation compression technologies; |

| • |     | Increased popularity of                                                                                                                              
 “over-the-top” or “OTT” content distribution, which may increase the demand for broadband infrastructure in the developing world, but could decrease 
 demand in developed markets over the mid to long-term as niche and ethnic programming transitions from satellite to internet distribution;           |

| • |     | Use of commercial satellite services by governments for military and other operations, which has partially slowed 
 as a result of the tempo of military operations and recent changes in the U.S. budget;                            |

| • |     | Intelsat’s use of third-party or off-network services to satisfy                                                                                                                                                                                   
 government demand for capacity not available on Intelsat’s network. These services are low risk in nature, with no required upfront investment and terms and conditions of the procured capacity which typically match the contractual commitments 
 from Intelsat