Company: SGBAF
Filing Date: 2025-04-23
Form Type: DRS/A
Source: 0000950123-25-003652
Chunk: 72

Company: SES S.A.
Filing Date: 2025-04-23
Form: DRS/A
Chunk 72
---
elsat were
in advanced talks regarding a potential business combination. SES publicly confirmed the press report later that day but emphasized that the prospect of a positive outcome to the negotiations remained uncertain.

On June 12, 2023, SES announced that Mr. Collar would be stepping down as SES’s CEO at the end of June 2023, and that Ruy
Pinto, SES’s Chief Technology Officer, would assume the role of CEO until a permanent successor was announced.

On June 21,
2023, the Intelsat Board met to consider the status of negotiations regarding the Initial Proposed Transaction and determined that there was not a viable path forward at that time. Following the meeting, Ms. Jinhy Yoon (acting in her capacity
as a member of the Intelsat Board) informed Ms. Ries of the Intelsat Board’s decision, and Mr. Wajsgras sent Mr. Pinto a letter terminating the negotiations with respect to the Initial Proposed Transaction.

49

Confidential Treatment Requested by SES

Pursuant to 17 C.F.R. Section 200.83

On June 22, 2023, SES issued a press release confirming that its discussions with
Intelsat with respect to the Initial Proposed Transaction had ceased.

Following the termination of the negotiations with respect to the
Initial Proposed Transaction, the Intelsat Board continued to evaluate Intelsat’s businesses and strategic planning, including considering potential strategic alternatives, and the SES Board continued to evaluate SES’s businesses and
strategic planning, including considering potential strategic alternatives.

On February 28, 2024, the SES Board met to consider the
status of SES’s strategic options and potential strategic alternatives. During the meeting, the SES Board and members of SES’s management discussed potentially pursuing an acquisition of Intelsat. Following these discussions, the SES Board
authorized the submission of a preliminary, non-binding proposal to Intelsat for a potential all-cash acquisition of Intelsat by SES.

On March 10, 2024, Mr. Potarazu and representatives of Guggenheim Securities contacted representatives of PJT Partners to request an
in-person meeting with Ms. Yoon to discuss a potential all-cash offer by SES to acquire Intelsat. PJT Partners notified Mr. Wajsgras of the request.

On March 11, 2024, Ms. Yoon, Mr. Potarazu and representatives of PJT Partners and Guggenheim Securities met in Newport Beach,
California