Company: SGBAF
Filing Date: 2025-05-08
Form Type: F-4/A
Source: 0001193125-25-115825
Chunk: 425

Company: SES S.A.
Filing Date: 2025-05-08
Form: F-4/A
Chunk 425
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 not acceptable to the customer, we are required to identify an alternative solution. Based on these considerations,
we have concluded that we are the principal in the transaction for these arrangements. When these factors are not met, the Company recognizes revenue for third-party capacity arrangements on a net basis.

Judgment is required in determining whether we are the principal or the agent in transactions involving third parties.

F-135

Remaining Performance Obligation Our remaining performance obligation is our expected future revenue under existing customer contracts and includes both cancelable and non-cancelablecontracts. Our remaining performance obligation was approximately $4.0 billion as of December 31, 2024. We assess the contract term of our cancelable contracts as the full stated term of the contract assuming each contract is not canceled since the termination penalty upon cancellation is substantive. As of December 31, 2024, the weighted average remaining customer contract life was approximately 2.8 years. Approximately 57%, 25%, and 18% of our total remaining performance obligation as of December 31, 2024 is expected to be recognized as revenue during 2025 and 2026, 2027 and 2028, and 2029 and thereafter, respectively. The amount included in the remaining performance obligation represents the full-service charge for the duration of the contract and does not include termination fees. The amount of the termination fees, which is not included in the remaining performance obligation amount, is generally calculated as a percentage of the remaining performance obligation associated with the contract. In certain cases of breach for non-paymentor customer financial distress or bankruptcy, we may not be able to recover the full value of certain contracts or termination fees. Our remaining performance obligation includes 100% of the remaining performance obligation of our consolidated ownership interests, which is consistent with the accounting for our ownership interest in these entities. (b) Business and Geographic Information We provide satellite and other communications services to our customers around the world. Our revenues are disaggregated by billing region, service type and customer set. Revenue by region is based on the locations of customers to which services are billed. Our satellites are in geosynchronous orbit, and consequently are not attributable to any geographic location. Of our remaining assets, substantially all are located in the United States. Intelsat CA revenues are allocated to the geographic location where the airline customer is domiciled. The following table disaggregates revenue by billing region (in thousands, except percentages):

|                             |     | Predecessor |  Two Months Ended 
 February 28, 202