Company: SGBAF
Filing Date: 2025-04-29
Form Type: F-4
Source: 0001193125-25-103898
Chunk: 90

Company: SES S.A.
Filing Date: 2025-04-29
Form: F-4
Chunk 90
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| • |     | As the amounts indicated below are estimates based on multiple assumptions that may or may not actually occur or                                              
 be accurate as of the date referenced, the actual amounts, if any, that may be paid or become payable may materially differ from the amounts set forth below. |

Treatment of Company Equity Awards At the Closing, subject to the terms and conditions of the Share Purchase Agreement, each RSU that is outstanding immediately prior to the Closing will be automatically cancelled and converted into the right to receive from Intelsat, in connection with the Liquidation, (i) cash (without interest, and subject to deduction for any required withholding tax) equal to the product of (A) the number of Intelsat common shares subject to such RSU immediately prior to the Closing, multiplied by (B) the per share cash consideration determined to be distributable to Intelsat’s shareholders in connection with the Liquidation, (ii) any accrued dividend equivalents attributable thereto and (iii) a number of CVRs (subject to reduction for any required withholding tax) equal to the number of Intelsat common shares subject to such RSU immediately prior to the Closing. At the Closing, each MC PSU will vest in accordance with its terms and, at the Closing, be automatically cancelled and converted into the right to receive from Intelsat, in connection with the Liquidation, (i) cash 61

(without interest, and subject to deduction for any required withholding tax) equal to the product of (A) the number of Intelsat common shares subject to such MC PSU immediately prior to the Closing based on the attainment of the actual level of performance as measured immediately prior to the Closing by the Intelsat Board or a committee thereof after giving effect to the consummation of the Transactions, multiplied by (B) the per share cash consideration determined to be distributable to Intelsat’s shareholders in connection with the Liquidation, (ii) any accrued dividend equivalents attributable thereto and (iii) a number of CVRs (subject to reduction for any required withholding tax) equal to the number of Intelsat common shares subject to such MC PSU immediately prior to the Closing after giving effect to the consummation of the Transactions. At the Closing, each PSU that is not an MC PSU that is outstanding immediately prior to the Closing will, at the Closing, be automatically cancelled and converted into the right to receive from Intelsat, in connection with the Liquidation, (i) cash (without interest,