Company: SGBAF
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001193125-25-120606
Chunk: 30

Company: SES S.A.
Filing Date: 2025-05-15
Form: 424B3
Chunk 30
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 and should not be considered an indication of the results of operations, including, without limitation, future revenue, or financial condition of SES
following the Transactions. The projected financial information for the Combined Group is based on management’s estimates, assumptions and projections and may not be an indication of SES’s financial condition or results of operations
following the Acquisition and the Transactions. None of this information should be considered in isolation from, or as a substitute for, the historical financial statements of SES and Intelsat.

The forward-looking statements speak only as of the date of this prospectus. Except as required by law, SES and Intelsat undertake no
obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. All forward-looking statements contained in this prospectus are qualified in their entirety by this cautionary
statement.

23

RISK FACTORS You should carefully consider the risks described below, together with all of the other information included in this prospectus, before making an investment decision. Our business, financial condition and results of operations could be materially and adversely affected by any of these risks or uncertainties. The risks described below are those that we currently believe may materially affect us. Additional risks not presently known to us, or that we currently consider immaterial, may also materially adversely affect us. For the purposes of the Risk Factors, references to SES are to SES and its subsidiaries. RISKS RELATING TO THE TRANSACTIONS The Acquisition is subject to closing conditions that could result in the completion of the Acquisition being delayed or not consummated, which could negatively impact SES’s or Intelsat’s future business, operations and financial condition. Completion of the Acquisition is conditioned upon the satisfaction of certain closing conditions, including approval of the Acquisition and the Transactions contemplated thereby by Intelsat’s shareholders and receipt of the Regulatory Approvals, all as set forth in the Share Purchase Agreement. Please see the section titled “ The Share Purchase Agreement —Conditions to the Closing of the Acquisition” beginning on page 80 of this prospectus for a discussion of the conditions to the completion of the Acquisition. The required conditions to Closing may not be satisfied in a timely manner, if at all, and the Acquisition may not be consummated. Failure to consummate the Acquisition could negatively impact SES or Intelsat’s future business, operations, and financial condition. Any delay in the consummation of the Acquisition or any uncertainty about the consummation of the Acquisition may adversely affect the future business, growth, revenue