Company: SGBAF
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001193125-25-120606
Chunk: 136

Company: SES S.A.
Filing Date: 2025-05-15
Form: 424B3
Chunk 136
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 Shareholder agreed that during the term of its applicable Support Agreement, such Supporting Shareholder will not transfer any applicable Intelsat common shares. Notwithstanding the foregoing, each Supporting Shareholder may transfer any or all of its applicable Intelsat common shares:

| • |     | to any affiliates of such Supporting Shareholder, including, any distribution or transfer to any investment fund,                                                                                                   
 account or other entity managed, advised or sub-advised by the same manager, advisor or sub-advisor of such Supporting Shareholder or any affiliate thereof or any                                                  
 distribution to partners (general or limited), members, managers, stockholders or other equity holders of any Supporting Shareholder, subject to certain limitations set forth in the respective Support Agreement; |

| • |     | with the prior written consent of SES, acting in its sole discretion; |

| • |     | in connection with any exercise of Intelsat warrants as is necessary solely to satisfy any tax withholding 
 obligations associated with such exercise; and                                                             |

| • |     | to any person, provided that (x) prior to the time at which the Intelsat Shareholder Approval is obtained,                                                                                                                                         
 such transfer is not to certain satellite operators or any of their affiliates, and (y) at any time, (1) such transfer is made in accordance with the requirements for transfer set forth in the Intelsat Shareholders Agreement and               
 (2) prior to and as a condition to the effectiveness of such transfer, each person to which any of such applicable Intelsat common shares or any interest in any of such Intelsat common shares is transferred will have executed and delivered to 
 SES a joinder agreement binding such person to the terms and provisions of the corresponding Support Agreement.                                                                                                                                    |

The PIMCO Funds Support Agreement contains additional exceptions to the lock-upprovision. Termination The Support Agreements will terminate on the earliest to occur of (i) the termination of the Share Purchase Agreement in accordance with its terms; (ii) the Closing; (iii) the effectiveness of any amendment, modification or waiver to the Share Purchase Agreement, without the prior written consent of a majority of the Supporting 92

Shareholders holding the applicable Intelsat common shares that (A) reduces the consideration to be paid to Intelsat in connection with the Transactions, (B) changes the form of
consideration payable in the connection with the Transactions, (C) extends the Outside Date or extensions thereof, or (D) otherwise amends the Share Purchase Agreement or