Company: SGBAF
Filing Date: 2025-05-08
Form Type: F-4/A
Source: 0001193125-25-115825
Chunk: 463

Company: SES S.A.
Filing Date: 2025-05-08
Form: F-4/A
Chunk 463
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 Intelsat will be paid $100,000 following the final judgement (and exhaustion of all
appeals) if the Bankruptcy Court’s decision rejecting SES’s ARP claim is affirmed.

On June 22, 2023, the District Court
issued its decision on appeal. The District Court agreed with the Bankruptcy Court that no unjust enrichment claim was available to SES as a matter of law. The District Court further rejected SES’ claim on appeal that the Bankruptcy Court judge
did not exercise independent judgement. However, the District Court remanded the case for further consideration by the Bankruptcy Court. The District Court believed the Agreement was ambiguous and found that the Bankruptcy Court had not sufficiently
explained its analysis of certain extrinsic evidence introduced by SES that SES believed supported its interpretation of the Agreement. In September of 2023, the Bankruptcy Court entered an order reopening the bankruptcy cases for Intelsat Jackson,
Intelsat US LLC and Intelsat License as a result of the District Court’s remand. In light of the proposed SES Transaction, Intelsat and SES have petitioned the Bankruptcy Court to hold the case in abeyance and close the underlying Bankruptcy
Cases without prejudice. The Bankruptcy Court agreed to hold the remand on the claim in abeyance and closed the remaining Bankruptcy Cases, subject to reopening the cases at the request of either party if the SES Transaction agreement is validly
terminated. If the SES Transaction closes, SES has agreed to withdraw the claim.

$250.0 Million Satellite Capacity Commitment

On April 18, 2024, Intelsat entered into a $250.0 million commitment to purchase low-earth
orbit satellite capacity over six years commencing on July 1, 2024, which was subsequently amended and restated to commence on January 1, 2025. Intelsat has the option, but not the obligation, to increase its commitment for an additional
$250.0 million for a total of $500.0 million over a term of seven years.

Note 16—Related Party Transactions

Indemnification Agreements

We have
entered into agreements with our executive officers and directors to provide contractual indemnification in addition to the indemnification provided for in our articles of association.

Expense Reimbursement Agreement

We entered into an agreement with certain shareholders to provide reimbursement of up to $250,000 for fees and expenses that the shareholders
incurred in connection with the SES Transaction. Approximately $120,000 has