Market Overview

Intelsat Announces Proposed Offering of Senior Notes

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Intelsat S.A. (NYSE:I) ("Intelsat"),
operator of the world's first Globalized Network and leader in
integrated satellite communications, announced today that its subsidiary
Intelsat Jackson Holdings S.A. ("Intelsat Jackson")
intends to offer $2.0 billion aggregate principal amount of senior notes
due 2024 (the "Notes").

Intelsat Jackson's obligations under the Notes will be guaranteed by
certain of Intelsat Jackson's subsidiaries that guarantee its
obligations under its senior secured credit facilities, its 9.50% Senior
Secured Notes due 2022, and its 8.00% Senior Secured Notes due 2024. In
addition, Intelsat, Intelsat Investment Holdings S.àr.l., Intelsat
Holdings S.A., Intelsat Investments S.A., Intelsat (Luxembourg) S.A. and
Intelsat Connect Finance S.A., which are direct or indirect parent
companies of Intelsat Jackson, will guarantee the Notes as of their
issue date.

In connection with the offering of the Notes, Intelsat Jackson expects
to launch a tender offer for any and all of its outstanding 7.25% Senior
Notes due 2020 (the "2020 Senior Notes"),
which is expected to close substantially concurrently with the
consummation of the offering of the Notes. The consummation of the
tender offer is expected to be conditioned on, among other things, (i)
Intelsat Jackson having completed an offering of $2.0 billion of Notes,
and (ii) the satisfaction of certain other customary conditions.
Concurrently with the launch of the tender offer, Intelsat Jackson
expects to issue a conditional notice of redemption to holders of the
2020 Senior Notes, stating that on October 15, 2018, conditional on
issuance of the Notes, it will redeem all 2020 Senior Notes then
outstanding.

Intelsat Jackson expects to use the net proceeds from the sale of the
Notes to finance the tender offer and to fund the redemption of any 2020
Senior Notes not tendered in the tender offer. The remaining net
proceeds of the Notes are expected to be used for general corporate
purposes, including without limitation the redemption and/or repurchase
(by way of open-market purchases, tender offers or otherwise) of a
portion of Intelsat Jackson's outstanding 7.50% Senior Notes due 2021
and/or other debt of Intelsat Jackson, and to pay related fees and
expenses.

The Notes will be offered and sold to qualified institutional buyers in
accordance with Rule 144A under the Securities Act of 1933, as amended
(the "Securities Act"), and to persons
outside the United States in accordance with Regulation S under the
Securities Act and applicable exemptions from registration, prospectus
or like requirements under the laws and regulations of the relevant
jurisdictions outside the United States. The Notes will not be
registered under the Securities Act and, unless so registered, may not
be offered or sold in the United States except pursuant to an exemption
from, or in a transaction not subject to, the registration requirements
of the Securities Act and applicable state securities laws. The Notes
will also not be registered in any jurisdiction outside of the United
States and no action or steps will be taken to permit the offer of the
Notes in any such jurisdiction where any registration or other action or
steps would be required to permit an offer of the Notes.

The Notes may therefore not be offered or sold in any such jurisdiction
except pursuant to an exemption from, or in a transaction not subject
to, the relevant requirements of laws and regulations of such
jurisdictions.

No prospectus as required by the Directive 2003/71/EC (and the
implementing laws and regulations in the relevant member states) has
been filed with respect to the Notes and therefore no offers of Notes
may be made in any Member States of the European Economic Area unless
made pursuant to an exemption under the Directive 2003/71/EC (and the
implementing laws and regulations in the relevant Member States).

This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the Notes or any other securities of
Intelsat, nor shall there be any offer, solicitation or sale of the
Notes in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful.

About Intelsat

Intelsat S.A. (NYSE:I) operates the world's first Globalized Network,
delivering high-quality, cost-effective video and broadband services
anywhere in the world. Intelsat's Globalized Network combines the
world's largest satellite backbone with terrestrial infrastructure,
managed services and an open, interoperable architecture to enable
customers to drive revenue and reach through a new generation of network
services. Thousands of organizations serving billions of people
worldwide rely on Intelsat to provide ubiquitous broadband connectivity,
multi-format video broadcasting, secure satellite communications and
seamless mobility services. The end result is an entirely new world, one
that allows us to envision the impossible, connect without boundaries
and transform the ways in which we live. For more information, visit www.intelsat.com.

Intelsat Safe Harbor Statement

Statements in this news release, including statements regarding the
offering of the Notes, constitute "forward-looking statements" that do
not directly or exclusively relate to historical facts. When used in
this release, the words "may," "will," "might," "should," "expect,"
"plan," "anticipate," "project," "believe," "estimate," "predict,"
"intend," "potential," "outlook," and "continue," and the negative of
these terms, and other similar expressions are intended to identify
forward-looking statements and information.

The forward-looking statements reflect Intelsat's intentions, plans,
expectations, anticipations, projections, estimations, predictions,
outlook, assumptions and beliefs about future events and are subject to
risks, uncertainties and other factors, many of which are outside of
Intelsat's control. Important factors that could cause actual results to
differ materially from the expectations expressed or implied in the
forward-looking statements include known and unknown risks. Known risks
include, among others, the risks described in Intelsat's annual report
on Form 20-F for the year ended December 31, 2017, and its other filings
with the U.S. Securities and Exchange Commission and risks and
uncertainties related to our ability to consummate the offering of the
Notes.

Because actual results could differ materially from Intelsat's
intentions, plans, expectations, anticipations, projections,
estimations, predictions, assumptions and beliefs about the future, you
are urged to view all forward-looking statements with caution. Intelsat
does not undertake any obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.

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