Company: SGBAF
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001193125-25-120606
Chunk: 11

Company: SES S.A.
Filing Date: 2025-05-15
Form: 424B3
Chunk 11
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mination Fees and Commercial Agreement.” In connection with the Share Purchase Agreement, certain Intelsat shareholders (each, a “Supporting Shareholder”, and collectively, the “Supporting Shareholders”) entered into voting and support agreements
(each, a “Support Agreement” and collectively, “Support Agreements”), pursuant to which each Supporting Shareholder irrevocably and unconditionally agreed to affirmatively vote its Intelsat common shares in favor of the Intelsat
Shareholder Approval Resolutions. Based on information provided by the Supporting Shareholders to Intelsat as of the date of each applicable Support Agreement, such shareholders beneficially own an aggregate of 49,839,902 Intelsat common shares that
are subject to the terms of the Support Agreements, representing approximately 73% of Intelsat common shares. Please see the section titled “Related Agreements – Intelsat Shareholder Support Agreements” beginning on
page 91 for further details.

Q: Are there any important risks related to the Acquisition, the CVRs or SES’s or Intelsat’s businesses of which I should be aware?

A:Yes, there are important risks related to the Acquisition, the CVRs
and to the businesses of SES, Intelsat and, the Combined Group. We urge you to read carefully and in its entirety the section titled “Risk Factors” beginning on page 24 of this prospectus.

Q: Are Intelsat shareholders entitled to seek appraisal or dissenter’s rights?

A:No.There are no appraisal or dissenters’ rights available to Intelsat shareholders, in connection with the
Transactions.

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Q: Is the completion of the Acquisition subject to the completion of certain conditions?

A:Yes. Before the Acquisition can be completed, SES and Intelsat must fulfill or, if permissible, waive the conditions to the
Closing set forth in the Share Purchase Agreement, including, but not limited to, the effectiveness of the registration statement of which this prospectus forms a part and the receipt of the Regulatory Approvals (as defined below). If all of these
conditions are not satisfied or waived, the Acquisition will not be completed. For a more detailed description of the conditions to the Closing, please see the section titled “The Share Purchase Agreement – Conditions to the Closing of the Acquisition” beginning on page 80.

Q: When do SES and Intelsat expect to complete the Acquisition?

A:SES and Intelsat are working to complete the Acquisition as quickly as possible, which can only