Company: SGBAF
Filing Date: 2025-05-08
Form Type: F-4/A
Source: 0001193125-25-115825
Chunk: 22

Company: SES S.A.
Filing Date: 2025-05-08
Form: F-4/A
Chunk 22
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 and Security Agency of the
United States Department of Defense (“DCSA”); and (vii) the applicable waiting periods pursuant to Section 122.4(b) of the International Traffic in Arms Regulations (“ITAR”) administered by the U.S. Department of
State’s Directorate of Defense Trade Controls have elapsed (such approvals and waiting periods set forth in clauses (i) through (vii), collectively, the “Regulatory Approvals”). On May 24, 2024, both Intelsat and SES filed
their respective notification and report forms under the HSR Act (each, an “HSR Filing”). On June 24, 2024, Intelsat and SES each received a request for additional information, often referred to as a “second request,” from
the Department of Justice (“DOJ”) under the HSR Act. Following pre-notification discussions with both the UK Competition & Markets Authority (“CMA”) and the European Commission, merger control notifications in relation
to the Transaction have been formally accepted by both authorities. The current statutory deadline for the CMA’s phase 1 decision is June 12, 2025 and the provisional deadline for the European Commission’s phase 1 decision is June 10,
2025. As of the date of this prospectus, certain Required Regulatory Approvals have been received, including the applicable approval by CFIUS, which was received on August 26, 2024. Please see the section titled “The Share Purchase Agreement — Efforts to Complete the Acquisition” beginning on page 74 for further details.

Termination

Termination of the Share Purchase Agreement(See page 82)

SES or Intelsat may terminate the Share Purchase Agreement by mutual written consent or upon the occurrence of certain events as more fully
described in the section titled “The Share Purchase Agreement — Terminationof theShare Purchase Agreement” beginning on page 82.

Termination Fees and Commercial Agreement(See page 83)

Upon termination of the Share Purchase Agreement, (i) the terminating party may be required to pay a termination fee in the form of a cash
amount equal to $300 million to the non-terminating party if certain covenants or agreements in the Share Purchase Agreement are not performed or are breached (the “Breach Termination Fee”) such
that such non-performance or breach causes a related condition to the Closing to fail, or if all conditions to the Closing are otherwise satisfied and the non-terminating party refuses to consummate the
Transactions