Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 101

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 101
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 to deduction for any required withholding tax) equal to the product of (A) the
number of Intelsat common shares subject to such PSU immediately prior to the Closing based on the attainment of the greater of the (x) target or (y) actual level of performance (as set forth in the applicable award document), as measured
immediately prior to the Closing by the Intelsat Board or a committee thereof, 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 PSU immediately prior to the
Closing based on the attainment of the greater of the (A) target or (B) actual level of performance (as set forth in the applicable award document) as measured immediately prior to the Closing by the Intelsat Board or a committee thereof.

Representations and Warranties

The Share Purchase Agreement contains customary representations and warranties that Intelsat, on the one hand, and SES, on the other hand, have
made to one another (in some cases, as of specific dates) relating to their respective businesses, assets and other matters. The assertions embodied in those representations and warranties were made solely for purposes of the Share Purchase
Agreement and may be subject to important qualifications and limitations (including through the use of exceptions for certain matters disclosed by the party that made the representations and warranties to the other party) agreed to by the parties in
connection with negotiating the terms of the Share Purchase Agreement. Accordingly, Intelsat shareholders should not rely on representations and warranties as characterizations of the actual state of facts or circumstances, and should bear in mind
that the representations and warranties were made solely for the benefit of the parties to the Share Purchase Agreement, were negotiated for purposes of governing contractual rights and relationships and allocating contractual risk among the parties
to the Share Purchase Agreement as of specific dates, rather than to establish matters as facts, and may be subject to contractual standards of materiality different from those generally applicable to shareholders. Moreover, information concerning
the subject matter of such representations and warranties may change after the date of the Share Purchase Agreement, which subsequent information may or may not be reflected in our public disclosures. This description of the representations and
warranties is included to provide holders of Intelsat common shares with information regarding the terms