Company: SGBAF
Filing Date: 2025-04-29
Form Type: F-4
Source: 0001193125-25-103898
Chunk: 95

Company: SES S.A.
Filing Date: 2025-04-29
Form: F-4
Chunk 95
---
 Purchase Agreement and the Acquisition

On April 30, 2024, Intelsat entered into the Share Purchase Agreement with SES. Upon the terms and
subject to the conditions set forth in the Share Purchase Agreement and in accordance with the applicable laws, at the Closing, (a) in exchange for the Acquisition Consideration, Intelsat will sell, transfer and deliver to SES, and SES will
purchase from Intelsat, (i) all of the Transferred Shares, and (ii) all of Intelsat’s rights, titles and interests in and to all of the Transferred Assets, excluding the Excluded Assets (as defined below), and (b) SES will assume
and pay, perform and fulfill all of the Assumed Liabilities, excluding the Excluded Liabilities.

Under the Share Purchase Agreement,
“Excluded Assets” means (1) that certain Shareholders Agreement, dated as of February 23, 2022, by and among Intelsat and certain shareholders of Intelsat (the “Intelsat Shareholders’ Agreement”), (2) that certain
Registration Rights Agreement, effective as of February 23, 2022, by and among Intelsat and the holders (as defined therein) (the “Intelsat Registration Rights Agreement”), (3) those certain Series A and Series B Warrant Agreements of
Intelsat (together, the “Intelsat Warrant Agreements”), (4) certain engagement letters between Intelsat and its financial, legal and other advisors engaged in connection with the Acquisition, the Liquidation or the Intelsat Warrant
Agreements, (5) certain protected communications between Intelsat and its legal counsel, (6) certain shareholder expense reimbursement obligations of Intelsat, (7) any and all causes of action, lawsuits, judgments, claims and demands
of any nature available to or being pursued by Intelsat (including counterclaims) and defenses against third parties relating to any of the Excluded Assets or the Excluded Liabilities as well as any books, records and privileged information relating
thereto, (8) all books and records to the extent related to the Excluded Assets or the Excluded Liabilities, and (9) all bank accounts solely in the name of Intelsat.

Under the Share Purchase Agreement, “Excluded Liabilities” means any and all liabilities of Intelsat to the extent arising from or
related to the following: (a) the Share Purchase Agreement,