Company: SGBAF
Filing Date: 2025-04-01
Form Type: DRS/A
Source: 0000950123-25-003272
Chunk: 132

Company: SES S.A.
Filing Date: 2025-04-01
Form: DRS/A
Chunk 132
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-of-pocket legal, accounting, consulting and other advisor fees and expenses, (b) Tax Costs (as defined below), (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 SES or any of its affiliates in connection with the
repurposing of Applicable Spectrum. Applicable Expenses will 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 SES 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 paid or accrued as the last item paid or accrued in the applicable taxable period.

“Applicable
Spectrum” means SES and its affiliates’ usage rights for up to 100 MHz of the C-band downlink spectrum at 3.98–4.2 GHz; provided that, if after the date of the CVR Agreement, SES or any of its
affiliates acquires, is acquired by or combines with (including in a change of control) any entity (including Eutelsat S.A., Telesat Canada, Star One S.A. or any of such Entities’ affiliates or subsidiaries) (collectively, “Other
Entities”), Applicable Spectrum will not include any C-band downlink spectrum of such Other Entities, and any monetization of such C-band downlink spectrum will not
be included in the determination of Gross Proceeds, Net Proceeds or Applicable Consideration.

“Applicable Transfer” means a
sale or transfer of Applicable Spectrum by SES; provided that a “sale” or “transfer” will not include the provision of third party use rights with respect to Applicable Spectrum (e.g., a spectrum leasing arrangement); provided
that such provision does not restrict SES and its affiliates’ ability to monetize such Applicable Spectrum pursuant to an event of Qualified Monetization; provided, further, that if such provision of use rights partially restricts such
monetization by SES (e.g., granting partial rights to monetization to such third party), the Applicable Spectrum will be deemed sold or transferred only to the extent of such restriction.

“Gross Proceeds” means