Intelsat Undertakes Financial Restructuring to Pave the Way for Future Innovation and Growth - Seite 2

While it moves as quickly as possible through the restructuring process, Intelsat’s day-to-day operations, engagement with customers and partners, and capital investments will continue as usual. The Company will continue to drive its business forward – launching new satellites, investing in its ground networks, developing new services, and progressing Intelsat’s next generation network and service strategy at full speed. No changes to the Company’s operations or workforce are planned.

Intelsat has secured a commitment for $1 billion of new financing. Subject to Court approval, this debtor-in-possession financing, coupled with significant cash on hand and positive cash flow generated by the business, will provide ample liquidity during the restructuring process to support ongoing operations, fund the substantial upfront C-band clearing costs, and allow the Company to continue investing in the innovations and services that customers need today and in the future.

The Company is filing with the Court a series of customary motions seeking to maintain business-as-usual operations and uphold its commitments to its stakeholders, including employees, customers, and vendors, during the restructuring process. Approval of these “first day” motions, which the Company expects to receive in short order, will help facilitate a smooth transition into the process.

“At the end of this process, we will be on stronger financial footing for the future, further enhancing our industry-leading portfolio of space-based communications services and paving the way for our continued innovation and investments to benefit our customers,” Spengler concluded.

Additional Information

Additional information regarding Intelsat’s financial restructuring is available at Intelsatonward.com. Court filings and information about the claims process are available at https://cases.stretto.com/intelsat, by calling the Company’s claims agent, Stretto, at [phone] (toll-free) or [phone] (international), or by emailing [e-mail].

Kirkland & Ellis LLP is serving as legal counsel, PJT Partners LP is serving as financial advisor, and Alvarez & Marsal is serving as restructuring advisor to the Company.

About Intelsat

As the foundational architects of satellite technology, Intelsat operates the world’s largest and most advanced satellite fleet and connectivity infrastructure. We apply our unparalleled expertise and global scale to connect people, businesses and communities, no matter how difficult the challenge. Intelsat is uniquely positioned to help our customers turn possibilities into reality – transformation happens when businesses, governments, and communities use Intelsat’s next-generation global network and managed services to build their connected future. Learn more at www.intelsat.com.