Company: SGBAF
Filing Date: 2025-04-01
Form Type: DRS/A
Source: 0000950123-25-003272
Chunk: 111

Company: SES S.A.
Filing Date: 2025-04-01
Form: DRS/A
Chunk 111
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 not to
exceed $50 million in the aggregate).

Efforts to Complete the Acquisition

General

Upon the terms and subject
to the conditions of the Share Purchase Agreement, each of the parties agreed to use their respective reasonable best efforts to take, or cause to be taken, all actions and to do, or cause to be done, and to assist and cooperate with each other
party in doing, all things that are necessary, proper or advisable, to the extent permitted under applicable law (including under any antitrust law, foreign investment law or telecommunications law), to cause the conditions of the Share Purchase
Agreement to be satisfied promptly as practicable after the date of the Share Purchase Agreement and in any event no later than four business days prior to October 30, 2025 (the “Outside Date”), including using reasonable best efforts
to obtain all consents of, and making all requisite filings with, all governmental authorities that are necessary, proper or advisable (including each of the Required Antitrust Approvals, the Required FDI Approvals, the submission of the 60-day ITAR Notice, the Required Telecommunications Approvals and the DCSA Approval). Subject to certain express obligations and limitations in the Share Purchase Agreement, the parties agreed that SES will direct
and control all aspects of the strategy and process relating to the efforts described in the Share Purchase Agreement, including any material communications or agreements (including timing agreements) with any governmental authority, any filing
investigation, legal proceeding or other injury relating to the Transactions, and all decisions with respect to any regulatory concessions to be made by either party (subject to the terms and conditions regarding any such regulatory concessions in
the Share Purchase Agreement). Intelsat agreed to not propose, negotiate, commit to or effect any remedial action, including any regulatory concession, or otherwise agree with

73

Confidential Treatment Requested by SES

Pursuant to 17 C.F.R. Section 200.83

any governmental authority with respect to the timing of the consummation of the Transactions without the prior written consent of SES. SES agreed to reasonably consult with Intelsat and in good
faith consider its views regarding the strategy and process relating to such efforts.

In furtherance and not in limitation of the efforts
obligations of the Parties under the Share Purchase Agreement, SES and its subsidiaries must, and Intelsat and its subsidiaries, at SES’s direction, must, (i) use their respective reasonable best efforts to (A) defend and contest all