Company: SGBAF
Filing Date: 2025-05-08
Form Type: F-4/A
Source: 0001193125-25-115825
Chunk: 26

Company: SES S.A.
Filing Date: 2025-05-08
Form: F-4/A
Chunk 26
---
 relative voting rights of all equity instruments, the intended composition of the governing body and senior management of the
Combined Group and the size of each of the companies. Accordingly, SES will record assets acquired, including identifiable intangible assets, and liabilities assumed from Intelsat at their respective fair values at the date of completion of the
Acquisition. Any excess of the purchase price over the net fair value of such assets and liabilities will be recorded as goodwill.

The
financial condition and results of operations of SES after completion of the Acquisition will reflect Intelsat after completion of the Acquisition but will not be restated retroactively to reflect the historical financial condition or results of
operations of Intelsat. The earnings of SES following the completion of the Acquisition will reflect acquisition accounting adjustments, including the effect of changes in the carrying value for assets and liabilities on depreciation expense,
amortization expense and interest expense. Indefinite-lived intangible assets and goodwill will not be amortized but will be tested for impairment at least annually, and all tangible and intangible assets including goodwill will be tested for
impairment when certain indicators are present. If, in the future, SES determines that tangible or intangible assets (including goodwill) are impaired, SES would record an impairment charge at that time.

15

Interests of SES’s Directors and Executive Committee Members in the Transactions(See
page 60)

Other than with respect to continued service for, employment by and the right to continued indemnification by
the Combined Group, as of the date of this prospectus, SES’s directors and members of the executive committee (the “Executive Committee Members”) do not have any financial interests in the Transactions that are different from, or in
addition to, the interests of other SES shareholders generally. The SES Board was aware of these potential conflicts of interest during its deliberations on the merits of the Transactions and in making its decision to approve the Share Purchase
Agreement and the Transactions. For more details regarding the interests of SES’s directors and Executive Committee Members in the Transactions, please see the section titled “About the Acquisition — Interests of SES’s Directors and Executive Committee Members in the Transaction” beginning on page 60 of this prospectus.

Interests of Intelsat’s Directors and Executive Officers in the Transactions(See page 60)

Intelsat’s executive officers and directors have interests in the Transactions that may be different from, or in addition to, those of
Intelsat shareholders generally. The Intelsat Board was aware of and considered