Company: SGBAF
Filing Date: 2025-04-23
Form Type: DRS/A
Source: 0000950123-25-003652
Chunk: 523

Company: SES S.A.
Filing Date: 2025-04-23
Form: DRS/A
Chunk 523
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 venture interest, or other equity or voting interest in, or any interest convertible into,

A-25

Confidential Treatment Requested by SES

Pursuant to 17 C.F.R. Section 200.83

exercisable or exchangeable for any such equity, membership interest, partnership interest, joint venture interest, or other equity or voting interest in, nor is it under any obligation to make
any capital contribution or other material equity investment in, any Subsidiary of Holdings. Each Subsidiary of Holdings (a) is duly organized, validly existing and, to the extent applicable, in good standing (or its equivalent) under the Laws
of the jurisdiction of its organization, formation or incorporation, (b) has all necessary corporate power and authority to own, lease and operate its properties and to carry on its business as it is now being conducted and (c) is duly
qualified or licensed as a foreign corporation or other legal Entity (as the case may be) to do business, and is in good standing (or its equivalent), in each jurisdiction where the character of the properties and assets occupied, owned, leased or
operated by it or the nature of its business makes such qualification or licensing necessary, except, in each case, as would not, individually or in the aggregate, reasonably be expected to have an Indiana Material Adverse Effect or prevent or
materially impede, interfere with or delay the consummation of the Transactions.

Section 3.6 . Except for the wholly-owned Subsidiaries listed in of the Indiana Disclosure Schedules or as otherwise listed in of the Indiana Disclosure Schedules,
neither Holdings nor any of its wholly-owned Subsidiaries directly or indirectly owns any equity, partnership, membership or similar interest in, or any interest convertible into, exercisable for the purchase of or exchangeable for any such equity,
partnership, membership or similar interest, or is under any current or prospective obligation to provide investment funds to, make any material loan, capital contribution, guarantee, credit enhancement or other material equity investment in any
Person.

Section 3.7 .

(a) Indiana has made available to Saturn true and complete copies of the audited consolidated balance sheet of Indiana and its Subsidiaries as
of December 31, 2023 (the “”), and the related audited consolidated statements of income, comprehensive income, financial position, cash flows and changes in shareholders’ equity of Indiana and its
Subsidiaries, together with all related