Company: SGBAF
Filing Date: 2025-04-29
Form Type: F-4
Source: 0001193125-25-103898
Chunk: 604

Company: SES S.A.
Filing Date: 2025-04-29
Form: F-4
Chunk 604
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 audit or investigation by or before any Governmental Authority,
or any other arbitration, mediation or similar proceeding.

“” means, of any specified Entity, any other Entity
directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Entity. For purposes of this definition, “control,” as used with respect to any Entity, means the possession, directly or
indirectly, of the power to direct or cause the direction of the management or policies of such Entity, whether through the ownership of voting securities, by agreement or otherwise. For purposes of this definition and Agreement, the terms
“controlling,” “controlled by” and “under common control with” have correlative meanings.

“” has the meaning set forth in the Preamble.

“” means, with respect to any Qualified Monetization, an amount equal to forty-two and one-half percent (42.5%) (the “”) of the cumulative Net Proceeds received by the CVR Issuer and its Affiliates between the
date hereof and the Termination Date with respect to such Qualified Monetization. For illustrative purposes only, sets forth a sample calculation of Applicable Consideration.

“” means, as of any date of determination with respect to any Qualified Monetization, all reasonable and
documented fees and expenses incurred (or estimated in good faith to be incurred) by the CVR

B-1

Issuer and its Affiliates in connection with such Qualified Monetization to the extent not actually reimbursed as of such time, including, without duplication, (a) out-of-pocket legal, accounting, consulting and other advisor fees and expenses, (b) Tax Costs, (c) any sums directly attributed to requisite satellite costs (including launch and
insurance), network costs and customer relocation costs (including cost of capital and interest costs) and (d) any transition costs incurred by the CVR Issuer or any of its Affiliates in connection with the repurposing of Applicable Spectrum.
Applicable Expenses shall be reduced by any reduction in actual cash Taxes payable in the taxable period of the payment or accrual of any unreimbursed fees or expenses described in the prior sentence by CVR Issuer or any of its Affiliates and
resulting directly from deductions arising from the payment of accrual of such unreimbursed fees or expenses, determined on a “with and without” basis with respect to any such fees or expenses paid or accrued, treating any such fees or
expenses