Company: SGBAF
Filing Date: 2025-04-01
Form Type: DRS/A
Source: 0000950123-25-003272
Chunk: 665

Company: SES S.A.
Filing Date: 2025-04-01
Form: DRS/A
Chunk 665
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 on behalf of a Holder Trust on behalf of one or more series of the Holder Trust (or if one or more series of the Holder Trust is otherwise bound by this
Agreement), the assets and liabilities of each series of the Holder Trust are separate and distinct and the obligations of or arising out of this instrument are binding solely upon the assets or property of the series on whose behalf this Agreement
is

C-15

Confidential Treatment Requested by SES Pursuant to 17 C.F.R. Section 200.83 executed (or the series who is bound by this Agreement). If this Agreement is being executed on behalf of more than one series of a Holder Trust (or more than one series of a Holder Trust is otherwise bound by this Agreement), the obligations of each series hereunder shall be several and not joint, in accordance with its proportionate interest hereunder, and the Parties agree not to proceed against any series for the obligations of another. If Holder Bermuda Trust II (the “Bermuda Trust”) is a Shareholder, the obligations of, or arising out of, this Agreement are not binding upon the Bermuda Trust’s trustee, or any officer, director, employee, agent or servant or any other person appointed by the trustee, or unitholders individually, but are binding solely upon the assets and property of the Bermuda Trust in accordance with its proportionate interest hereunder. If this Agreement is executed by or on behalf of the Bermuda Trust on behalf of one or more series of the Bermuda Trust (or the one or more series of the Bermuda Trust are otherwise bound by this Agreement), the assets and liabilities of each series of the Bermuda Trust are separate and distinct and the obligations of or arising out of this Agreement are binding solely upon the assets or property of the series on whose behalf this Agreement is executed (or the series who is bound by this Agreement). If [Global Investors Series plc] is a Shareholder, the Parties hereto acknowledge that it is an Irish umbrella company with segregated liability between sub-funds.As a result, as a matter of Irish law, any liability attributable to a particular sub-fundmay only be discharged out of the assets of that sub-fundand the assets of other sub-fundsmay not be used to satisfy the limited liability of that sub-fund.If this Agreement is executed by or on behalf of a separately managed account or fund (or if one or more separately managed accounts or funds is otherwise bound by this Agreement), the rights, obligations and liabilities of or arising out of this instrument are binding