Company: SGBAF
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001193125-25-120606
Chunk: 138

Company: SES S.A.
Filing Date: 2025-05-15
Form: 424B3
Chunk 138
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 For example, this discussion does not address U.S. Holders who:

| • |     | may be subject to special treatment under U.S. federal income tax laws, such as financial institutions or banks; tax-exempt organizations (including private foundations); S corporations or any other entities or arrangements treated as partnerships or pass-through entities for U.S. federal income tax purposes; insurance 
 companies; mutual funds; retirement plans; dealers in stocks and securities; traders in securities that elect to use the mark-to-market method of accounting for their                                                                                                                                                           
 securities; regulated investment companies; real estate investment trusts; entities subject to the U.S. anti-inversion rules; or certain former citizens or long-term residents of the United States;                                                                                                                            |

| • |     | are controlled foreign corporations or passive foreign investment companies; |

| • |     | are subject to the alternative minimum tax; |

| • |     | hold Intelsat common shares as part of a hedging, constructive sale or conversion, straddle or other risk 
 reduction transaction;                                                                                    |

| • |     | received their Intelsat common shares in connection with the performance of services; |

| • |     | have a “functional currency” that is not the U.S. dollar; |

| • |     | are required to accelerate the recognition of any item of gross income with respect to Intelsat common shares or 
 the CVRs as a result of such income being recognized on an applicable financial statement; or                    |

| • |     | own (directly, indirectly or constructively) (i) 10% or more of the total combined voting power of all classes of 
 shares entitled to vote of Intelsat, or (ii) 10% or more of the total value of all classes of shares of Intelsat. |

If a partnership (including an entity or arrangement classified as a partnership for U.S. federal income tax purposes) is a beneficial owner of Intelsat common shares, then the U.S. federal income tax considerations applicable to a partner in such partnership will generally depend upon the status of the partner and the activities of the partner and the partnership. Each partnership holding Intelsat common shares and each partner therein is urged to consult its tax advisor regarding the U.S. federal income tax considerations applicable to it relating to the Transactions and the receipt of, and payments with respect to, CVRs. 94

No ruling has been or will be obtained from the IRS regarding the U.S. federal income tax considerations of the Transactions described