Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 96

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 96
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 firm in accordance with the applicable warrant agreements and paid to the holders of Intelsat warrants in cash. All or a portion of the remaining Closing Cash Consideration will be held back for the duration of the Liquidation to satisfy
any remaining liabilities of Intelsat and to cover the costs of winding up the affairs of Intelsat. Once the Liquidation has been completed, any remaining Closing Cash Consideration held by Intelsat will be distributed to Intelsat’s
shareholders.

63

Confidential Treatment Requested by SES

Pursuant to 17 C.F.R. Section 200.83

THE SHARE PURCHASE AGREEMENT

The following summary sets forth the material provisions of the Share Purchase Agreement, a copy of which is attached as Annex Ato this prospectus and is incorporated by reference herein. The rights and obligations of the parties are governed by the express terms and conditions of the Share Purchase Agreement and not by this summary. This summary is not complete and is qualified in its entirety by reference to the complete text of the Share Purchase Agreement. You are encouraged to read the Share Purchase Agreement carefully in its entirety, as well as this prospectus and any documents incorporated by reference herein. This section is not intended to provide you with any factual information about either Intelsat or SES.

The Share Purchase Agreement and the Acquisition

On April 30, 2024, Intelsat entered into the Share Purchase Agreement with SES. Upon the terms and
subject to the conditions set forth in the Share Purchase Agreement and in accordance with the applicable laws, at the Closing, (a) in exchange for the Acquisition Consideration, Intelsat will sell, transfer and deliver to SES, and SES will
purchase from Intelsat, (i) all of the Transferred Shares, and (ii) all of Intelsat’s rights, titles and interests in and to all of the Transferred Assets, excluding the Excluded Assets (as defined below), and (b) SES will assume
and pay, perform and fulfill all of the Assumed Liabilities, excluding the Excluded Liabilities.

Under the Share Purchase Agreement,
“Excluded Assets” means (1) that certain Shareholders Agreement, dated as of February 23, 2022, by and among Intelsat and certain shareholders of Intelsat (the “Intelsat Shareholders’ Agreement”), (2) that certain
Registration Rights Agreement, effective as of February 23, 2022, by and among Intelsat and the