Company: SGBAF
Filing Date: 2025-04-29
Form Type: F-4
Source: 0001193125-25-103898
Chunk: 9

Company: SES S.A.
Filing Date: 2025-04-29
Form: F-4
Chunk 9
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ENT VALUE RIGHTS

The following questions and answers are intended to briefly address some questions that you, as a holder of Intelsat common shares, may have regarding the Acquisition, including the transactions contemplated thereby, and the CVRs to be issued by SES. These questions and answers, as well as the summary section that follows, only highlight some of the information contained in this prospectus and may not contain all the information that is important to you. These questions and answers are not meant to be a substitute for the information contained in the remainder of this prospectus and are qualified in their entirety by the more detailed sections of this prospectus, including the Annexes to this prospectus, which you should read carefully. We encourage you to further refer to the sections of this prospectus titled “Cautionary Statement Regarding Forward-Looking Statements” beginning on page 21 of this prospectus and to the “Risk Factors” beginning on page 24 of this prospectus.

Q: Who is SES?

A: SES was founded in 1985, under the laws of the Grand Duchy of Luxembourg, and is an industry-leader in space-based communications.
Currently, SES qualifies as a “foreign private issuer” under the SEC rules.

Q: What is this document?

A: This document is a prospectus of SES for the CVRs issuable as part of the consideration for the Acquisition. SES is providing this
document because SES and Intelsat have entered into a Share Purchase Agreement, pursuant to which SES will acquire the Intelsat Group through the transactions contemplated thereby, including the Acquisition, the Liquidation, and the other
transactions contemplated by the Share Purchase Agreement and the ancillary agreements of the Share Purchase Agreement (collectively, the “Transactions”). The prospectus provides details of the Acquisition, including the transactions
contemplated thereby, the consideration Intelsat shareholders will receive upon completion of the Acquisition and Liquidation, including the CVR Consideration, and the rights of the Holders.

Q: What is the Acquisition and what will happen to Intelsat as a result of the Acquisition?

A: The Acquisition is an acquisition of the Intelsat Group by SES pursuant to the Share Purchase Agreement. The Acquisition is
structured as the acquisition by SES of 100% of the outstanding shares of Holdings and Intelsat’s assets, subject to certain exceptions, as well as the assumption by SES of Intelsat’s liabilities, subject to certain exceptions, in each
case, subject to the terms and conditions of the Share