Company: SGBAF
Filing Date: 2025-04-01
Form Type: DRS/A
Source: 0000950123-25-003272
Chunk: 11

Company: SES S.A.
Filing Date: 2025-04-01
Form: DRS/A
Chunk 11
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 disclosure and procedural
requirements for proxy solicitations under Section 14 of the Exchange Act, and will not be required to comply with Regulation FD, which regulates the selective disclosure of material non-public
information.

Additionally, SES’s officers, directors and principal shareholders will be exempt from the reporting and
“short-swing” profit recovery provisions of Section 16 of the Exchange Act with respect to their purchases and sales of SES shares. If SES loses its status as a foreign private issuer, it will no longer be exempt from such rules and,
among other things, will be required to file periodic and current reports and proxy statements as if it were a company incorporated in one of the states in the United States.

Q: Is interest payable with respect to the CVRs?

A: No. Interest will not accrue on any distributions that may be required to be paid to a Holder.

5

Confidential Treatment Requested by SES

Pursuant to 17 C.F.R. Section 200.83

Q: Is the CVR payment secured?

A: No. The obligation to make a CVR payment, if any becomes due, is an unsecured general obligation of SES.

Q: Can I sell the CVRs?

A: Yes. The CVRs are transferable (subject to the Securities Act and other applicable federal law or state securities or blue-sky laws). SES is not obligated to list the CVRs on any securities exchange. There is currently no public market for the CVRs. SES has no current plans to apply to list the CVRs on any stock exchange or on an over-the-counter market and is under no obligation to do so. If the CVRs begin trading in the
over-the-counter market or if SES determines, in its sole discretion, to list the CVRs on a securities exchange, there is no assurance that such trading or listing will
continue.

No prediction can be made regarding the liquidity of the CVRs or the prices at which the CVRs may be sold at any point in
time, if at all. We expect that any CVR sale would be a taxable transaction for U.S. federal income tax purposes. Please see the section titled, “U.S. Federal Income Tax Considerations of the Transactions — U.S. Federal Income Tax Considerations of the Ownership and Disposition of CVRs” beginning on page 95 of this prospectus for additional information.

Q: What happens if the Acquisition is not approved at the Intelsat shareholder general meeting?

A:Before the Acquisition can be completed