Company: SGBAF
Filing Date: 2025-04-23
Form Type: DRS/A
Source: 0000950123-25-003652
Chunk: 108

Company: SES S.A.
Filing Date: 2025-04-23
Form: DRS/A
Chunk 108
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, provided that such dividends or distributions (together with the amount of any equity repurchases made by Intelsat) do not exceed $750 million in   
 the aggregate;                                                                                                                                                                                                                                 |

| • |     | reclassify, combine, split, subdivide or redeem, or purchase or otherwise acquire, directly or indirectly, any of                      
 Intelsat’s share capital or other equity or ownership interest, or make any other change with respect to Intelsat’s capital structure; |

| • |     | (i) acquire any interests in any entity or division thereof or any material amount of assets, other than                                                                                                                           
 (A) transactions among wholly-owned subsidiaries or (B) in connection with the formation of a wholly-owned subsidiary, or (ii) enter into any joint venture, partnership, strategic alliance, collaboration, consortium or similar 
 arrangement, other than joint ventures, partnerships, strategic alliances, collaborations, consortiums or similar arrangements;                                                                                                    |

| • |     | except for as contemplated in the Intelsat Shareholder Approval, adopt a plan of complete or partial liquidation,                                           
 dissolution, merger, consolidation, restructuring, recapitalization or other reorganization of Intelsat, or otherwise alter Intelsat’s corporate structure; |

| • |     | make any loans, advances or capital contributions to, or investments in, any other person, or amend, waive, 
 modify or consent to the termination of any material indebtedness contract;                                 |

| • |     | amend, waive, modify or consent to the termination of any Intelsat material contract, or amend, waive or modify 
 or consent to the termination of any of Intelsat’s or such subsidiaries material rights thereunder;             |

| • |     | decommission, re-orbit or dispose of any Intelsat satellite with an                                                                      
 aggregate value exceeding $50 million, other than in the case of (i) a commercial transaction or (ii) certain operational circumstances; |

| • |     | authorize, or make any commitment with respect to any capital expenditures of the type set forth in     
 Intelsat’s disclosure schedules to the Share Purchase Agreement in a manner not reflected in Intelsat’s |

71

Confidential Treatment Requested by SES Pursuant to 17 C.F.R. Section 200.83

| disclosure schedules to the Share Purchase Agreement, including reallocating the amount of any proposed capital expenditure included therein, other than expenditures are not in excess of (i)     
 $50,000,000