Company: SGBAF
Filing Date: 2025-04-01
Form Type: DRS/A
Source: 0000950123-25-003272
Chunk: 144

Company: SES S.A.
Filing Date: 2025-04-01
Form: DRS/A
Chunk 144
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 No ruling has been or will be obtained from the IRS regarding the U.S. federal income tax considerations of the Transactions described below. No assurance can be given that the IRS will agree with the views expressed in this discussion, or that a court will not sustain any challenge by the IRS in the event of litigation. Furthermore, no opinion of counsel has been or will be rendered with respect to any tax considerations of the Transactions or any related transactions. The use of words such as “will” and “should” in any tax-relateddiscussion contained in this discussion is not intended to convey a particular level of comfort. THIS DISCUSSION IS PROVIDED FOR GENERAL INFORMATION ONLY AND DOES NOT CONSTITUTE LEGAL ADVICE TO ANY HOLDER OF INTELSAT COMMON SHARES. EACH SUCH HOLDER IS URGED TO 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