Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 98

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 98
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ly as expressly provided therein, Intelsat, as equity issuer (the “Intelsat Series B CVR Agreement”, together with the Series A CVR Agreement, the “Legacy CVR Agreements”); (e) the Liquidation, including (1) any and all out-of-pocket fees and expenses accrued or incurred by Intelsat or any of its affiliates in connection with the Liquidation, including all fees and expenses of counsel,
advisors, the liquidator, accountants, auditors and any other experts incurred from and after the Closing, (2) Intelsat’s obligation to distribute applicable assets to Intelsat’s shareholders in the Liquidation and (3) any action
by any holder of Intelsat common shares arising from or related to the amount or allocation of the Closing Cash Consideration or the CVR Consideration that is

64

Confidential Treatment Requested by SES

Pursuant to 17 C.F.R. Section 200.83

distributed to Intelsat’s shareholders in the Liquidation (in each case, excluding SES’s administrative obligations with respect to the payout of Acquisition Consideration to holders of
RSUs or PSUs after the Closing); (f) any taxes imposed on Intelsat, other than taxes imposed on Intelsat for a taxable period (or portion thereof) ending on or before the Closing Date; and (g) any liability arising from or related to the
Excluded Assets (other than any such liability for certain transaction expenses).

The Closing and Effectiveness of the Acquisition

The Closing will take place either (i) at the offices of Gibson, Dunn & Crutcher LLP, 200 Park Avenue, New York, NY at 8:00 a.m.,
New York City time or (ii) remotely via electronic exchange of required Closing documentation in lieu of an in-person Closing, on the fourth business day following the satisfaction or, to the extent
permitted by applicable Law, the waiver of all conditions to the obligations of each party to consummate the Acquisition, or at such other place or at such other time or on such other date as the parties may mutually agree in writing.

Consideration for the Acquisition

At the
Closing, in exchange for the sale, transfer and delivery of the Transferred Shares and the Transferred Assets, SES will (i) deliver aggregate consideration equal to, (a) the Closing Cash Consideration, (b) the CVR Consideration and
(c) if an Applicable Order (as defined