Company: SGBAF
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001193125-25-120606
Chunk: 109

Company: SES S.A.
Filing Date: 2025-05-15
Form: 424B3
Chunk 109
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mating any future transaction (other than
the Transactions); and (iii) taking all other actions (A) as may be required by a governmental authority in order to obtain any consent thereof that is necessary, proper or advisable to consummate the Transactions or (B) necessary to
avoid the entry of, or have vacated, lifted, dissolved, reversed or overturned any, Order that would prevent, prohibit, restrict or otherwise delay the consummation of the Transactions.

However, (1) neither party nor any of its subsidiaries is required to take or cause to be taken, do or cause to be done, negotiate,
commit to, suffer, agree to, consummate or effect any Regulatory Concession that is not conditioned on the occurrence of the Closing, (2) solely with respect to the Required Antitrust Approvals and the Required Telecommunications Approvals,
neither SES nor any of its Subsidiaries is required to take any action (or refrain from taking any action) if the taking of any such action (or omission from taking any action) would reasonably be expected to result in certain burdensome conditions
set forth in SES’s disclosure schedules to the Share Purchase Agreement (each, a “Burdensome Condition”), (3) solely with respect to the Required FDI Approvals and the DCSA Approval, neither SES nor any of its Subsidiaries is required
to take or cause to be taken, do or cause to be done, negotiate, commit to, suffer, agree to and effect any Regulatory Concession that would reasonably be expected to result in a material adverse effect on the business, financial condition or
results of operations of the Combined Group (an “Other Regulatory Burdensome Condition”), (4) neither party nor any of its subsidiaries is required to contest, petition, apply for review of or appeal an FCC Order constituting final

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agency action that does not approve the Transactions; provided that the parties agreed to appear, participate and engage in any proceeding established as a result of an FCC Hearing Designation
Order, (5) neither party nor any of its subsidiaries is required to seek judicial relief for any action taken by, or any referral that CFIUS makes or proposes to make to, the President of the United States under the DPA and (6) neither
Intelsat nor any of its subsidiaries will take or cause to be taken, or do or cause to be done, negotiate, commit to, suffer, agree to and effect any Regulatory Concession (including any Bur