Company: SGBAF
Filing Date: 2025-05-08
Form Type: F-4/A
Source: 0001193125-25-115825
Chunk: 130

Company: SES S.A.
Filing Date: 2025-05-08
Form: F-4/A
Chunk 130
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 voting and dividend rights. No interest will accrue on any amounts that may be payable to a
Holder. The CVR payment is an unsecured general obligation of SES. There can be no assurance that any payment will be made under the CVRs, or the amount or timing of any such payment. Any amounts to be received in connection with the CVRs, and the
timing of any payments, are contingent upon the occurrence of certain events that may or may not occur, and that may be outside the control of SES and Intelsat. There may be no cash amount ultimately paid in respect of the CVRs.

CVR Payments and Payment Date

The CVRs
will represent the right to receive certain contingent cash payments payable by SES to the Rights Agent for the benefit of the Holders, within 90 days following the receipt by SES or any of its affiliates of any Gross Proceeds.

Following the receipt by SES or any of its affiliates of any Gross Proceeds, SES will deliver to the Rights Agent a certificate setting forth,
in reasonable detail with reasonable supporting information, SES’s calculation of the Applicable Consideration with respect to such Gross Proceeds, including SES’s calculation of Gross Proceeds, Net Proceeds and Applicable Expenses (and
the components thereof).

Within 5 business days following receipt of any Applicable Consideration from SES for payment to the Holders
(each, a “CVR Payment Amount”), the Rights Agent will pay the applicable pro rata share of such CVR Payment Amount to (a) each Holder holding its CVRs directly on the CVR Register (i) by check mailed to the address of such Holder
as reflected on the CVR Register as of the close of business on the last business day prior to such date or (ii) if such Holder has provided the Rights Agent with wire transfer instructions in writing, by wire transfer of immediately available
funds to the account specified in such instructions.

SES, the Rights Agent and their respective affiliates are entitled to deduct and
withhold, or cause to be deducted or withheld, from any amount payable pursuant to the CVR Agreement, such amounts as are required to be deducted and withheld with respect to such payment under any provision of U.S. or
non-U.S. federal, national, supranational, state, local, provincial or similar tax law, and will take all actions that may be necessary to ensure that any amounts so deducted or withheld are timely remitted to
the appropriate Governmental Entity as required by applicable Law.

The rights