Company: SGBAF
Filing Date: 2025-04-23
Form Type: DRS/A
Source: 0000950123-25-003652
Chunk: 248

Company: SES S.A.
Filing Date: 2025-04-23
Form: DRS/A
Chunk 248
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, but not limited to, payment defaults, breaches of representations and warranties, covenant defaults, certain events under the Employee Retirement Income Security Act of 1974, as amended, and change of control. The foregoing description of the 2022 Intelsat Jackson Secured Credit Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the 2022 Intelsat Jackson Secured Credit Agreement. Intelsat Jackson made principal payments on the 2029 Term Loans of $386.2 million for the ten months ended December 31, 2022, with no similar payments for the two months ended February 28, 2022. During the year ended December 31, 2023, the total remaining balance of $2.8 billion associated with the 2029 Term Loans was paid in full. Contracted Backlog Intelsat benefits from strong visibility of its future revenues. Intelsat’s contracted backlog is its expected future revenue under existing customer contracts and includes both cancelable and non-cancelablecontracts. As of December 31, 2024, Intelsat’s contracted backlog was approximately $4.2 billion, which it expects to earn a weighted average remaining customer contract life of approximately 2.9 years. Intelsat expects to deliver services associated with approximately $1.4 billion, or approximately 34%, of its December 31, 2024 contracted backlog during the year ending December 31, 2025. The amount included in backlog represents the full service charge for the duration of the contract and does not include termination fees. The amount of the termination fees is generally calculated as a percentage of the remaining backlog associated with the contract. In certain cases of breach for non-paymentor customer bankruptcy, Intelsat may not be able to recover the full value of certain contracts or termination fees. Intelsat’s contracted backlog includes 100% of the backlog of its consolidated ownership interests, which is consistent with the accounting for its ownership interests in these entities. Intelsat believes this backlog and the resulting predictable cash flows in the FSS sector make its results less volatile than that of typical companies outside Intelsat’s industry. Intelsat’s contracted backlog as of December 31, 2024 was as follows (in millions):

| Year Ending December 31, 
 2025                     |     | Contracted 
 Backlog    |  1,419 |
|:-------------------------|:----|:-----------|-------:|
|