Company: SGBAF
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001193125-25-120606
Chunk: 495

Company: SES S.A.
Filing Date: 2025-05-15
Form: 424B3
Chunk 495
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 clause (iv) of the definition of “Indiana Material Adverse Effect” shall be
disregarded for purposes of this ).

Section 3.4 .

(a) Indiana is the sole record and beneficial owner of the Transferred Shares, free and clear of any Encumbrance
(other than (i) any restriction on transfer arising under applicable Securities Laws or (ii) any Encumbrance under the Indiana Notes Indenture or that will be released or discharged prior to the Closing). Upon Saturn’s delivery of the
Transaction Consideration at the Closing, Saturn will acquire title to the Transferred Shares (other than (i) any restrictions on transfer arising under applicable Securities Laws or (ii) any Encumbrances under the Indiana Notes Indenture
(unless (A) the obligations under the Indiana Notes and the Indiana Notes Indenture have been fully satisfied and discharged or (B) an Investment Grade Event (as defined in the Indiana Notes Indenture) with respect to the Indiana Notes
actually occurs on the Closing Date pursuant to ) or created by Saturn).

(b) The Transferred
Shares are all of the outstanding Equity Securities of Holdings.

(c) Neither Holdings nor any of its Subsidiaries has issued or agreed to
issue any of the following: (i) options, warrants or interests convertible into or exchangeable or exercisable for the purchase of any share capital or other equity or ownership interests; (ii) share appreciation rights, phantom shares,
interests in the ownership of Holdings or any of its Subsidiaries or other equity equivalent or equity-based awards or rights; or (iii) bonds, debentures or other Indebtedness having the right to vote or convertible or exchangeable for
securities having the right to vote. Each outstanding share capital or other equity or ownership interest of Holdings and each of its Subsidiaries is duly authorized, validly issued, fully paid and nonassessable, and in the case of its Subsidiaries,
each such share or other equity or ownership interest is owned by Holdings or another Subsidiary, free and clear of any Encumbrance. All of the aforesaid shares or other equity or ownership interests have been offered, sold and delivered by Holdings
or a Subsidiary in compliance with all applicable Securities Laws. There are no outstanding obligations of Holdings or any of its Subsidiaries to issue, sell or transfer or repurchase, redeem or otherwise acquire, or that relate to the holding