On January 25, 2021, Cyrus Capital Partners, L.P. announced that it has been engaging, and intend to continue engaging, in discussions with representatives of Intelsat S.A. and certain of its subsidiaries and certain other stakeholders concerning the treatment of various classes of claims and interests, including the Company’s 4.50% Convertible Senior Notes due 2025, in connection with the Company’s jointly administered chapter 11 cases pending in the United States Bankruptcy Court for the Eastern District of Virginia entitled In re Intelsat S.A, et al., Case No. 20-32299 (KLP).