Company: SGBAF
Filing Date: 2025-04-23
Form Type: DRS/A
Source: 0000950123-25-003652
Chunk: 98

Company: SES S.A.
Filing Date: 2025-04-23
Form: DRS/A
Chunk 98
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 the name of Intelsat.

Under the Share Purchase Agreement, “Excluded Liabilities” means any and all liabilities of Intelsat to the extent arising from or
related to the following: (a) the Share Purchase Agreement, the ancillary agreements to the Share Purchase Agreement and the Transactions (other than certain transaction expenses and severance obligations assumed by SES); provided that clause
(a) will not cause any liability for taxes to be treated as Excluded Liabilities; (b) the Intelsat Shareholders’ Agreement; (c) the Intelsat Warrant Agreements; (d) that certain Series A Contingent Value Rights Agreement,
dated as of February 23, 2022 (as it may be amended, supplemented or otherwise 17 modified from time to time), by and among American Stock Transfer & Trust Company, LLC, as rights agent, Intelsat Jackson Holdings S.A. (“Intelsat
Jackson”), as contingent value rights issuer, and, solely as expressly provided therein, Intelsat, as equity issuer (the “Intelsat Series A CVR Agreement”) and that certain Series B Contingent Value Rights Agreement, dated as of
February 23, 2022 (as it may be amended, supplemented or otherwise modified from time to time), by and among American Stock Transfer & Trust Company, LLC, as rights agent, Intelsat Jackson, as contingent value rights issuer, and,
solely 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

65

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