Company: SGBAF
Filing Date: 2025-04-01
Form Type: DRS/A
Source: 0000950123-25-003272
Chunk: 12

Company: SES S.A.
Filing Date: 2025-04-01
Form: DRS/A
Chunk 12
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, Intelsat is required to use commercially reasonable efforts to take all necessary action to
obtain the Intelsat Shareholder Approval at the Intelsat Shareholder Meeting, including soliciting from Intelsat’s shareholders sufficient votes, as promptly as reasonably practicable and in no event later than 35 days after the effectiveness
of the registration statement of which this prospectus forms a part. If the Intelsat Shareholder Approval is not obtained, under certain specified circumstances, Intelsat may be required to pay to SES a termination fee of $300 million, subject
to the terms and conditions of the Share Purchase Agreement. For a more detailed description of the Termination Fees and the circumstances under which they may be payable, please see the section titled “ Termination Fees and Commercial Agreement.” In connection with the Share Purchase Agreement, certain Intelsat shareholders (each, a “Supporting Shareholder”, and collectively, the “Supporting Shareholders”) entered into voting and support agreements
(each, a “Support Agreement” and collectively, “Support Agreements”), pursuant to which each Supporting Shareholder irrevocably and unconditionally agreed to affirmatively vote its Intelsat common shares in favor of the Intelsat
Shareholder Approval Resolutions. Based on information provided by the Supporting Shareholders to Intelsat as of the date of each applicable Support Agreement, such shareholders beneficially own an aggregate of 49,839,902 Intelsat common shares that
are subject to the terms of the Support Agreements, representing approximately 73% of Intelsat common shares. Please see the section titled “Related Agreements – Intelsat Shareholder Support Agreements” beginning on
page 90 for further details.

Q: Are there any important risks related to the Acquisition, the CVRs or SES’s or Intelsat’s businesses of which I should be aware?

A:Yes, there are important risks related to the Acquisition, the CVRs
and to the businesses of SES, Intelsat and, the Combined Group. We urge you to read carefully and in its entirety the section titled “Risk Factors” beginning on page 23 of this prospectus.

Q: Are Intelsat shareholders entitled to seek appraisal or dissenter’s rights?

A:No.There are no appraisal or dissenters’ rights available to Intelsat shareholders, in connection with the
Transactions.

6

Confidential Treatment Requested by SES

Pursuant to 17 C.F.R. Section 200.83

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