Company: SGBAF
Filing Date: 2025-04-29
Form Type: F-4
Source: 0001193125-25-103898
Chunk: 144

Company: SES S.A.
Filing Date: 2025-04-29
Form: F-4
Chunk 144
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 CONSULT ITS TAX ADVISOR CONCERNING THE U.S. FEDERAL INCOME TAX CONSIDERATIONS RELATING TO THE LIQUIDATION AND THE RECEIPT OF, AND PAYMENTS WITH RESPECT TO, CVRS IN LIGHT OF ITS PARTICULAR CIRCUMSTANCES AND ANY CONSIDERATIONS ARISING UNDER THE LAWS OF ANY STATE, LOCAL OR NON-U.S.TAXING JURISDICTION OR ANY NON-INCOMETAX LAWS. For purposes of this discussion, a “U.S. Holder” is a beneficial owner of Intelsat common shares that is for U.S. federal income tax purposes:

| • |     | an individual who is a citizen or resident of the United States; |

| • |     | a corporation, or other entity that is classified as a corporation, created or organized in or under the laws of 
 the United States or any State thereof or the District of Columbia;                                              |

| • |     | an estate, the income of which is subject to U.S. federal income taxation regardless of its source; or |

| • |     | a trust if (1) a court within the United States is able to exercise primary supervision over the                                                                                                                                                 
 administration of the trust and one or more United States persons have the authority to control all substantial decisions of the trust; or (2) the trust has a valid election in effect under applicable Treasury regulations to be treated as a 
 United States person.                                                                                                                                                                                                                            |

U.S. Federal Income Tax Considerations of the Acquisition to U.S. Holders Because a U.S. Holder does not participate in any exchange pursuant to the Acquisition, a U.S. Holder will not realize any gain or loss for U.S. federal income tax purposes as a result of the Acquisition, including the acquisition by SES of Intelsat’s assets, subject to certain exceptions, and 100% of the outstanding shares of Holdings, as well as the assumption by SES of certain liabilities of Intelsat, in each case, subject to the terms and conditions of the Share Purchase Agreement. U.S. Federal Income Tax Considerations of the Liquidation to U.S. Holders Receipt of Cash and CVRs in the Liquidation, Generally Following the Acquisition, in the Liquidation, Intelsat will liquidate and distribute its remaining assets to Intelsat’s sharesholders. As a result of the Liquidation, for U.S. federal income tax purposes, a U.S. Holder will be treated as receiving, in a taxable transaction