Company: SGBAF
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001193125-25-120606
Chunk: 91

Company: SES S.A.
Filing Date: 2025-05-15
Form: 424B3
Chunk 91
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EMENT

The following summary sets forth the material provisions of the Share Purchase Agreement, a copy of which is attached as Annex Ato this prospectus and is incorporated by reference herein. The rights and obligations of the parties are governed by the express terms and conditions of the Share Purchase Agreement and not by this summary. This summary is not complete and is qualified in its entirety by reference to the complete text of the Share Purchase Agreement. You are encouraged to read the Share Purchase Agreement carefully in its entirety, as well as this prospectus and any documents incorporated by reference herein. This section is not intended to provide you with any factual information about either Intelsat or SES.

The Share Purchase Agreement and the Acquisition

On April 30, 2024, Intelsat entered into the Share Purchase Agreement with SES. Upon the terms and
subject to the conditions set forth in the Share Purchase Agreement and in accordance with the applicable laws, at the Closing, (a) in exchange for the Acquisition Consideration, Intelsat will sell, transfer and deliver to SES, and SES will
purchase from Intelsat, (i) all of the Transferred Shares, and (ii) all of Intelsat’s rights, titles and interests in and to all of the Transferred Assets, excluding the Excluded Assets (as defined below), and (b) SES will assume
and pay, perform and fulfill all of the Assumed Liabilities, excluding the Excluded Liabilities.

Under the Share Purchase Agreement,
“Excluded Assets” means (1) that certain Shareholders Agreement, dated as of February 23, 2022, by and among Intelsat and certain shareholders of Intelsat (the “Intelsat Shareholders’ Agreement”), (2) that certain
Registration Rights Agreement, effective as of February 23, 2022, by and among Intelsat and the holders (as defined therein) (the “Intelsat Registration Rights Agreement”), (3) those certain Series A and Series B Warrant Agreements of
Intelsat (together, the “Intelsat Warrant Agreements”), (4) certain engagement letters between Intelsat and its financial, legal and other advisors engaged in connection with the Acquisition, the Liquidation or the Intelsat Warrant
Agreements, (5) certain protected communications between Intelsat and its legal counsel, (6) certain shareholder expense reimbursement obligations of Intelsat, (7) any and all causes of action, lawsuits, judgments,