Company: SGBAF
Filing Date: 2025-04-29
Form Type: F-4
Source: 0001193125-25-103898
Chunk: 152

Company: SES S.A.
Filing Date: 2025-04-29
Form: F-4
Chunk 152
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 realized by such Luxembourg individual Holder should in principle be tax exempt unless the Intelsat shares are deemed to belong to a substantial participation within the meaning of Article 100 ITL (i.e., a direct or indirect participation representing more than 10.0 percent of the share capital, owned by the Luxembourg resident individual Holder (alone or together with his or her spouse or partner and underage children) at any time during the five years preceding the disposal), in which case, any capital gains should be taxable at half of the overall tax rate (including unemployment fund contributions) of the relevant individual. In this case, the capital gains would also be subject to dependence insurance contribution. Luxembourg Corporate Holders Luxembourg corporate Holders may be tax exempt on any liquidation proceed received pursuant to the Liquidation provided the conditions under the dividend participation exemption are met:

| • |     | the Luxembourg corporate Holder is a qualifying corporate entity holding at least 10% of the total share capital 
 of Intelsat or acquired the shares held in Intelsat for at least EUR 1,200,000; and                              |

| • |     | the Luxembourg corporate Holder has held its qualifying stake in the capital of Intelsat for an uninterrupted 
 period of at least twelve (12) months at the time of the Liquidation.                                         |

Luxembourg Tax Consequences of the Liquidation to Non-LuxembourgHolders Subject to any applicable tax treaty, an individual who is a Non-LuxembourgHolder of CVRs (and who does not have a permanent establishment, a permanent representative, or a fixed place of business in 100

Luxembourg to which the CVRs are attributable) will, except for certain former Luxembourg individual holders and non-Luxembourg individual holders
realizing within a period of 6 months after acquisition a substantial participation within the meaning of Article 100 ITL, not be taxable in Luxembourg upon the Liquidation.

Subject to any applicable tax treaty, a corporate Non-Luxembourg Holder of CVRs (which does not have a
permanent establishment, a permanent representative, or a fixed place of business in Luxembourg to which CVRs are attributable) will, except for certain former Luxembourg corporate Holders and Non-Luxembourg
corporate Holders realizing within a period of 6 months after acquisition a substantial participation within the meaning of Article 100 ITL, not be taxable in Luxembourg upon the Liquidation.

Luxembourg Tax Consequences of the Ownership and Disposition of CVRs

Luxembourg Withholding Tax

Payments under
the CVRs