Company: SGBAF
Filing Date: 2025-04-29
Form Type: F-4
Source: 0001193125-25-103898
Chunk: 105

Company: SES S.A.
Filing Date: 2025-04-29
Form: F-4
Chunk 105
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at                                                                                 
 Group, and (ii) until receipt of the Intelsat Shareholder Approval, any voting equity securities or equity securities convertible, exercisable into voting equity securities of Intelsat; |

| • |     | sell, transfer, license, dispose of or subject to any encumbrance any properties or assets, other than in certain 
 limited circumstances as described in the Share Purchase Agreement;                                               |

| • |     | repurchase, redeem, or acquire, directly or indirectly, any of its equity securities, other than, among other                                                                                                                           
 limited exceptions, the (i) repurchase of Intelsat RSUs or PSUs in respect of a net settlement in the ordinary course of business and (ii) repurchases or redemptions (together with any dividends or distributions declared or made on 
 Intelsat’s equity securities) that do not exceed $750 million in the aggregate;                                                                                                                                                         |

| • |     | declare, set aside, make or pay any dividend or other distribution on or with respect to any of Intelsat’s                                                                                                                                     
 share capital or other equity or ownership interests, other than (i) in dividends or distributions between wholly-owned subsidiaries of Holdings that are not reasonably expected to give rise to withholding tax liability, (ii) dividends or 
 distributions of Applicable Intelsat Spectrum Proceeds on or with respect to Intelsat’s equity securities, (iii) any Exempted Distributions and (iv) cash dividends or cash distributions (other than dividends or distributions of            
 Applicable Intelsat Spectrum Proceeds) on or with respect to Intelsat’s equity securities, provided that such dividends or distributions (together with the amount of any equity repurchases made by Intelsat) do not exceed $750 million in   
 the aggregate;                                                                                                                                                                                                                                 |

| • |     | reclassify, combine, split, subdivide or redeem, or purchase or otherwise acquire, directly or indirectly, any of                      
 Intelsat’s share capital or other equity or ownership interest, or make any other change with respect to Intelsat’s capital structure; |

| • |     | (i) acquire any interests in any entity or division thereof or any material amount of assets, other than                                                                                                                           
 (A) transactions among wholly-owned subsidiaries or (B) in connection with the formation of a wholly-owned subsidiary, or (ii) enter into any joint venture, partnership, strategic alliance, collaboration, consortium or similar 
 arrangement, other than joint ventures, partnerships, strategic