Company: SGBAF
Filing Date: 2025-04-29
Form Type: F-4
Source: 0001193125-25-103898
Chunk: 87

Company: SES S.A.
Filing Date: 2025-04-29
Form: F-4
Chunk 87
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 to Section 122.4(b) of ITAR administered by the U.S. Department of
State’s Directorate of Defense Trade Controls have elapsed. On May 24, 2024, both Intelsat and SES filed their respective HSR Filings. On May 30, 2024, SES and Intelsat jointly filed the applications to obtain the applicable FCC
consent, on October 15, 2024, SES and Intelsat jointly filed a consolidated response to comments received from third parties, and on October 25, 2024, SES and Intelsat jointly filed consolidated reply comments. On January 13, 2025, the FCC
issued General Information Requests to SES and Intelsat and the companies each provided their responses in February 2025 and continue to respond to additional inquiries from the FCC. Furthermore, on September 30, 2024, the FCC referred the
parties’ applications to the Committee for the Assessment of Foreign Participation in the United States Telecommunications Services Sector (“Committee”) for the Committee’s views on any national security or law enforcement
concerns related to the applications. On March 10, 2025, the Committee notified the FCC that SES and Intelsat has provided complete responses to initial questions posed by the Committee and that the Committee had begun its initial 120-day review
period to assess whether granting the applications will pose a risk to the U.S.’s national security or law enforcement interests. SES and Intelsat continue to respond to additional inquiries from the Committee. On June 24, 2024, Intelsat
and SES each received a request for additional information, often referred to as a “second request,” from the DOJ. Intelsat and SES each submitted their responses and certified substantial compliance with their respective Second Requests
in December 2024. As of the date of this prospectus, certain Required Regulatory Approvals have been received, including the applicable approval by CFIUS, which was received on August 26, 2024.

Certain additional filings may be made by SES or Intelsat in connection with the Transactions, including certain foreign jurisdictions.

Accounting Treatment of the Transactions

The Acquisition will be accounted for as a business combination using the acquisition method of accounting in accordance with IFRS 3, Business
Combinations (the “IFRS 3”). IFRS requires that one of the two companies in the acquisition be designated as the acquirer for accounting purposes based on the evidence available.