Company: SGBAF
Filing Date: 2025-04-01
Form Type: DRS/A
Source: 0000950123-25-003272
Chunk: 67

Company: SES S.A.
Filing Date: 2025-04-01
Form: DRS/A
Chunk 67
---
200.83

it could be subject to sanctions or investigations by a stock exchange, the SEC, or other regulatory authorities. Failure to remediate any material weakness in SES’s internal control over
financial reporting, or to implement or maintain other effective control systems required of public companies, could also restrict its future access to the capital markets.

SES has not evaluated its internal controls over financial reporting in accordance with the SOX Act because no such evaluation has been
required. Upon the effectiveness of the registration statement of which this prospectus forms a part, SES will become subject to the periodic reporting and to the informational requirements of the Exchange Act applicable to a foreign private issuer
and expect to file information with the SEC, including an Annual Report on Form 20-F and Current Reports on Form 6-K. SES also will become subject to the SOX Act but
will take advantage of exemptions from compliance with its provisions related to assessments of internal controls over financial reporting. SES expects that, following its fiscal year ended December 31, 2026, it will lose its exemption related
to an auditor’s attestation related to its internal controls over financial reporting and Section 302 of Sarbanes-Oxley will require its management to make certifications as to the effectiveness of its internal controls over financial
reporting.

As part of SES’ future evaluation of internal controls over financial reporting, to ensure compliance with the SOX Act,
it may identify additional material weaknesses. If SES fails to maintain the adequacy of its internal controls, it could be subject to regulatory scrutiny, civil or criminal penalties or litigation. Any inability to provide reliable financial
reports could harm its business. Furthermore, any failure to implement required new or improved controls, or difficulties encountered in the implementation of adequate controls over its financial processes and reporting in the future, could harm its
operating results, cause it to fail to meet its reporting obligations or cause investors to lose confidence in its reported financial information.

46

Confidential Treatment Requested by SES

Pursuant to 17 C.F.R. Section 200.83

ABOUT THE ACQUISITION

Overview / Background of the Transactions

As part of their efforts to strengthen their respective businesses and enhance shareholder value, the boards of directors and senior management
of each of SES and Intelsat regularly review and assess their respective companies’ operations, performance and prospects and the strategic landscape in the industries in which they operate, including the possibility of pursuing various
strategic alternatives. As part of these reviews, from time to time, the