Company: SGBAF
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001193125-25-120606
Chunk: 100

Company: SES S.A.
Filing Date: 2025-05-15
Form: 424B3
Chunk 100
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 delivery of the Share Purchase Agreement or the public announcement of the Transactions,                                                                                                                                   
 including (A) the impact thereof on the relationships, contractual or otherwise, of Intelsat or any of its subsidiaries with any customers, suppliers, distributors, partners, or employees and (B) the initiation of any claim or action by 
 any person or arising out of or relating to the Share Purchase Agreement;                                                                                                                                                                    |

| • |     | any change, in and of itself, in the market price or trading volume of Intelsat’s securities (it being                                            
 understood that the events, changes, circumstances, occurrence or effects are not otherwise excluded under the other clauses of this definition); |

| • |     | any changes in the applicable law, applicable accounting principles or any authoritative interpretation thereof 
 first introduced after the date of the Share Purchase Agreement;                                                |

| • |     | geopolitical conditions (or changes in such conditions), the outbreak or escalation of hostilities, any acts of 
 war, sabotage or terrorism, or any escalation or worsening of any such acts of war, sabotage or terrorism;      |

| • |     | any epidemic, pandemic, disease outbreak (including the COVID-19 virus)                                       
 or other public health crisis or public health event, or any escalation or worsening of any of the foregoing; |

| • |     | any natural or manmade disasters or calamities, weather conditions including hurricanes, floods, tornados, 
 tsunamis, earthquakes, wild fires or cyber outages or any escalation or worsening of such conditions;      |

| • |     | any actions taken or omitted to be taken by Intelsat or any of its affiliates at the written request of SES; or |

| • |     | any adverse impact under certain contracts listed in Intelsat’s disclosure schedules to the Share Purchase 
 Agreement.                                                                                                 |

Conduct of Business of Intelsat Pending the Consummation of the Transactions Intelsat has agreed to restrictions on the operation of its business between the date of the Share Purchase Agreement and the earlier to occur of the Closing or the termination of the Share Purchase Agreement in accordance with its terms. Except (i) as contemplated or permitted by the Share Purchase Agreement, (ii) as set forth on Intelsat’s disclosure schedules to the Share Purchase Agreement, (iii) as required by applicable law or 70

any decree, order, directive or guideline issued by a governmental authority or (iv) with the prior written consent of SES (which consent will not be unreason