Company: SGBAF
Filing Date: 2025-05-08
Form Type: F-4/A
Source: 0001193125-25-115825
Chunk: 96

Company: SES S.A.
Filing Date: 2025-05-08
Form: F-4/A
Chunk 96
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 liquidator, accountants, auditors and any other experts incurred from and after the Closing, (2) Intelsat’s obligation to distribute applicable assets to Intelsat’s shareholders in the Liquidation and (3) any action
by any holder of Intelsat common shares arising from or related to the amount or allocation of the Closing Cash Consideration or the CVR Consideration that is

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distributed to Intelsat’s shareholders in the Liquidation (in each case, excluding SES’s administrative obligations with respect to the payout of Acquisition Consideration to holders of
RSUs or PSUs after the Closing); (f) any taxes imposed on Intelsat, other than taxes imposed on Intelsat for a taxable period (or portion thereof) ending on or before the Closing Date; and (g) any liability arising from or related to the
Excluded Assets (other than any such liability for certain transaction expenses).

The Closing and Effectiveness of the Acquisition

The Closing will take place either (i) at the offices of Gibson, Dunn & Crutcher LLP, 200 Park Avenue, New York, NY at 8:00 a.m.,
New York City time or (ii) remotely via electronic exchange of required Closing documentation in lieu of an in-person Closing, on the fourth business day following the satisfaction or, to the extent
permitted by applicable Law, the waiver of all conditions to the obligations of each party to consummate the Acquisition, or at such other place or at such other time or on such other date as the parties may mutually agree in writing.

Consideration for the Acquisition

At the
Closing, in exchange for the sale, transfer and delivery of the Transferred Shares and the Transferred Assets, SES will (i) deliver aggregate consideration equal to, (a) the Closing Cash Consideration, (b) the CVR Consideration and
(c) if an Applicable Order (as defined below) is adopted, enacted or promulgated after the date of the Share Purchase Agreement and prior to the Closing and results in SES or any of its subsidiaries receiving Net Proceeds prior to Closing, an
amount equal to 42.5% of such Net Proceeds (such amount, the “Applicable Spectrum Additional Consideration”) and (ii) assume and agree to pay, perform and fulfill all of the Assumed Liabilities, in each case, as applicable and as may
be adjusted pursuant and subject to the terms and conditions of the Share Purchase Agreement (such consideration described in