Company: SGBAF
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001193125-25-120606
Chunk: 33

Company: SES S.A.
Filing Date: 2025-05-15
Form: 424B3
Chunk 33
---
 Acquisition will continue to operate, independently, and there can be no assurances that their businesses can be integrated successfully. It is possible that the integration process could result in the loss of key SES or Intelsat employees, the disruption of either company’s or both companies’ ongoing businesses or in unexpected integration issues, higher than expected integration costs and an overall post-completion integration process that takes longer than originally anticipated. Specifically, issues that must be addressed in integrating the operations of the Intelsat Group and SES in order to realize the anticipated benefits of the Acquisition, so the Combined Group performs as expected include, among others:

| • |     | combining the companies’ separate operational, financial, reporting and corporate functions; |

25

| • |     | integrating the companies’ technologies, products and services; |

| • |     | identifying and eliminating redundant and underperforming operations and assets; |

| • |     | harmonizing the companies’ operating practices, employee development, compensation and benefit programs, 
 internal controls and other policies, procedures and processes;                                          |

| • |     | addressing possible differences in corporate cultures and management philosophies; |

| • |     | maintaining employee morale and retaining key management and other employees; |

| • |     | attracting and recruiting prospective employees; |

| • |     | consolidating the companies’ corporate, administrative and information technology infrastructure; |

| • |     | coordinating sales, distribution and marketing efforts; |

| • |     | managing the movement of certain businesses and positions to different locations; |

| • |     | maintaining existing agreements with customers and vendors and avoiding delays in entering into new agreements 
 with prospective customers and vendors;                                                                        |

| • |     | coordinating geographically dispersed organizations; |

| • |     | consolidating facilities of Intelsat and SES that are currently in or near the same location; |

| • |     | effecting potential actions that may be required in connection with obtaining regulatory approvals; and |

| • |     | the possibility of costly litigation challenging the Acquisition. |

In addition, at times, the attention of certain members of each company’s management and each company’s resources may be focused on completion of the Acquisition and the integration of the businesses of the two companies and diverted from day-to-daybusiness operations, which may disrupt each company’s ongoing business and the business of the Combined Group. Furthermore, following completion of the Acquisition, the size of the Combined Group’s business will be significantly larger than the current size of either SES’s or Intelsat’s respective businesses