Company: SGBAF
Filing Date: 2025-04-01
Form Type: DRS/A
Source: 0000950123-25-003272
Chunk: 58

Company: SES S.A.
Filing Date: 2025-04-01
Form: DRS/A
Chunk 58
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 to satisfy the terms of any new regulations, if necessary, approvals are not granted on a timely basis or at all, in any jurisdictions in which customers wish to operate or provide services or if
applicable restrictions in those jurisdictions become unduly burdensome.

The occurrence of any of the risks in this paragraph could have
a material adverse effect on SES’s business, financial condition and results of operations.

There may be less publicly available information relating to SES than there is for issuers that are not foreign private issuers because SES, as a foreign private issuer, is exempt from a number of rules under the Exchange Act, and is permitted to file less information with the SEC than issuers that are not foreign private issuers.

As a foreign private issuer under the Exchange Act, SES is exempt from certain rules under
the Exchange Act, and is not required to file periodic reports and financial statements with the SEC as frequently or as promptly as companies whose securities are registered under the Exchange Act but are not foreign private issuers, or to comply
with Regulation FD, which restricts the selective disclosure of material non-public information. In addition, SES is exempt from certain disclosure and procedural requirements applicable to proxy solicitations
under Section 14 of the Exchange Act. The members of the SES Board and SES’s officers and principal shareholders are exempt from the reporting and “short-swing” profit recovery provisions of Section 16 of the Exchange Act.
Accordingly, there may be less publicly available information relating to SES than there is for companies whose securities are registered under the Exchange Act but are not foreign private issuers, and such information may not be provided as
promptly as it is provided by such companies. In addition, certain information may be provided by SES in accordance with Luxembourg law, which may differ in scope, substance or timing from such disclosure requirements under the Exchange Act. It is
expected that after the Acquisition, SES will remain a foreign private issuer.

SES’s status as a foreign private issuer is subject
to an annual review and test and will be tested again as of June 30, 2025 (the last business day of its second fiscal quarter of 2025).SES would lose its status as a “foreign private issuer” under current SEC rules and regulations if
more than 50% of SES’s outstanding voting securities becomes directly or indirectly held of record by U.S. holders and one of the following is true: (i) the majority of SES’s directors or executive officers are U.S. citizens or
residents; (ii