Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 106

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 106
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 natural or manmade disasters or calamities, weather conditions including hurricanes, floods, tornados, 
 tsunamis, earthquakes, wild fires or cyber outages or any escalation or worsening of such conditions;      |

| • |     | any actions taken or omitted to be taken by Intelsat or any of its affiliates at the written request of SES; or |

| • |     | any adverse impact under certain contracts listed in Intelsat’s disclosure schedules to the Share Purchase 
 Agreement.                                                                                                 |

Conduct of Business of Intelsat Pending the Consummation of the Transactions Intelsat has agreed to restrictions on the operation of its business between the date of the Share Purchase Agreement and the earlier to occur of the Closing or the termination of the Share Purchase Agreement in accordance with its terms. Except (i) as contemplated or permitted by the Share Purchase Agreement, (ii) as set forth on Intelsat’s disclosure schedules to the Share Purchase Agreement, (iii) as required by applicable law or 69

Confidential Treatment Requested by SES Pursuant to 17 C.F.R. Section 200.83 any decree, order, directive or guideline issued by a governmental authority or (iv) with the prior written consent of SES (which consent will not be unreasonably withheld, conditioned or delayed), (A) Intelsat has agreed to use commercially reasonable efforts to (1) conduct the business in the ordinary course of business in all material respects, (2) keep available the services of its current officers, material employees and material consultants, (3) preserve its current relationships with material customers, material suppliers and other persons with which it has material business relations, and (B) Intelsat has agreed not to:

| • |     | amend its organizational or governing documents; |

| • |     | sell, issue, grant or authorize the sale, issuance or grant of: (i) any equity securities of the Intelsat                                                                                 
 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