Company: SGBAF
Filing Date: 2025-04-29
Form Type: F-4
Source: 0001193125-25-103898
Chunk: 410

Company: SES S.A.
Filing Date: 2025-04-29
Form: F-4
Chunk 410
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,102,511 | ) |     |                |   9,537,049 |   |     |     |     |     |             |   (723,538 | ) |     |      |     |              |  3,711,000 |
| Noncontrolling interest                                           |     |              |      4,238 |   |     |                |           — |   |     |     |     |     |             |     31,762 |   |     |  -27 |     |              |     36,000 |
| Total liabilities and shareholders’ equity (deficit)              |     | $            | 14,069,208 |   |     | $              |    (820,023 | ) |     |     |     |     | $           |   (665,409 | ) |     |      |     | $            | 12,583,776 |

F-126

(d) Reorganization Adjustments In accordance with the Final Plan, the following adjustments were made:

| (1) | Represents amounts recorded as of the Fresh Start Reporting Date for the implementation of the Final Plan,                                                     
 including, among other items, settlement of the Predecessor’s liabilities subject to compromise, distributions of cash, conversion of the debtor-in-possession 
 financing to the DIP-to-Exit Financing facilities, issuances of the Successor’s common shares, Series A and Series B Warrants and Series A and Series B CVRs.  |

| (2) | Changes in cash and cash equivalents includes the following (in thousands): |

| Cash at Intelsat S.A.                                        |     | $ |      99 |   |
| Payment of professional fees including success fees          |     |   | (72,374 | ) |
| Funding of reserve to make future distributions to creditors |     |   |  (1,404 | ) |
| Net change in cash and cash equivalents                      |     | $ | (73,679 | ) |

| (3) | Reflects the disbursement of funds deposited with DTC to fund payments to creditors and distributions to 
 Intelsat S.A. (now Reorganized ISA S.A.) creditors, pursuant to the Final Plan.                          |

| (4) | Changes in receivables, net includes the following (in thousands): |

| Elimination of amount due from Intelsat S.A., in consolidation |     | $ | (65  | ) |
| Cancellation