Company: SGBAF
Filing Date: 2025-04-01
Form Type: DRS/A
Source: 0000950123-25-003272
Chunk: 26

Company: SES S.A.
Filing Date: 2025-04-01
Form: DRS/A
Chunk 26
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 Group, as of the
date of this prospectus, SES’s directors and members of the executive

14

Confidential Treatment Requested by SES

Pursuant to 17 C.F.R. Section 200.83

committee (the “Executive Committee Members”) do not have any financial interests in the Transactions that are different from, or in addition to, the interests of other SES shareholders
generally. The SES Board was aware of these potential conflicts of interest during its deliberations on the merits of the Transactions and in making its decision to approve the Share Purchase Agreement and the Transactions. For more details
regarding the interests of SES’s directors and Executive Committee Members in the Transactions, please see the section titled “About the Acquisition — Interests of SES’s Directors and Executive Committee Members in the Transaction” beginning on page 59 of this prospectus.

Interests of Intelsat’s Directors and Executive Officers in the Transactions(See page 59)

Intelsat’s executive officers and directors have interests in the
Transactions that may be different from, or in addition to, those of Intelsat shareholders generally. The Intelsat Board was aware of and considered these interests, among other matters, in approving the Share Purchase Agreement and the
Transactions. These interests include (i) the accelerated vesting and payment in respect of outstanding Intelsat equity awards pursuant to the Share Purchase Agreement, (ii) the potential receipt of certain payments and benefits under the
executive officers’ employment agreements upon certain types of terminations of employment following the consummation of the Transactions, and (iii) the entitlement to indemnification benefits in favor of directors and executive officers
of Intelsat. For more details regarding the interests of Intelsat’s directors and executive officers in the Transactions, please see the section titled “The Share Purchase Agreement — Interests of Intelsat’s Directors and Executive Officers in the Transactions” beginning on page 59 of this prospectus.

The Liquidation

The Liquidation will open effective as of the Closing as more fully described in the section titled “The Liquidation” beginning on
page 63.

Dissenters’ / Appraisal Rights

There are no appraisal or dissenters’ rights available to Intelsat shareholders in connection with the Transactions.

U.S. Federal Income Tax Considerations of the Transactions

A U.S. Holder does not participate in any exchange pursuant to the Acquisition, so such U.S. Holder will not realize any gain or loss for U.S.
federal income tax purposes