Company: SGBAF
Filing Date: 2025-04-29
Form Type: F-4
Source: 0001193125-25-103898
Chunk: 615

Company: SES S.A.
Filing Date: 2025-04-29
Form: F-4
Chunk 615
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 of a Payment
Dispute Statement in accordance with the terms set forth in this .

(b) In the event that Holders
holding CVRs representing at least forty-two and one-half percent (42.5%) of the Outstanding CVRs disagree with any of the determinations or calculations set forth in a
Payment Certificate (such Holders, the “”), the Disputing Holders may, within ten (10) Business Days after receipt by the Disputing Holders of the Payment Notice, deliver written notice to the CVR Issuer and
the Rights Agent (a “”) setting forth in reasonable detail the determinations or calculations (the “”) that the Disputing Holders dispute. Any determinations or calculations not
specifically identified in the Dispute Statement shall be deemed to be final, binding and conclusive upon each of the Holders and the CVR Issuer. In the event that the CVR Issuer and the Rights Agent do not receive a Dispute Statement within such
ten (10) Business Day period, then the Payment Certificate shall be deemed to be final, binding and conclusive upon each of the Holders and the CVR Issuer. Notwithstanding anything herein to the contrary, the Holders shall have no right to
contest or otherwise dispute the CVR Issuer’s calculation of Tax Costs, or request any information with respect thereto, in each case, absent manifest mathematical error.

(c) A representative of the Disputing Holders (such representative to be identified in the Dispute Statement and selected by Disputing Holders
who hold a majority of all CVRs held by the Disputing Holders), on the one hand, and the CVR Issuer, on the other hand, shall seek in good faith to resolve the Disputed Items for a period of ten (10) Business Days beginning on the date the CVR
Issuer receives the Dispute Statement. If the

B-8

representative of the Disputing Holders, on one hand, and the CVR Issuer, on the other hand, are unable to resolve any Disputed Items during such ten (10)-Business Day period, then the CVR Issuer
shall promptly engage an independent third-party financial, accounting, valuation, appraisal or other advisor selected by a majority of the Disputing Holders that is reasonably acceptable to the CVR Issuer (an “”) to conduct a non-binding determination or calculation of the remaining Disputed Items. The CVR Issuer shall use its