Company: SGBAF
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001193125-25-120606
Chunk: 606

Company: SES S.A.
Filing Date: 2025-05-15
Form: 424B3
Chunk 606
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to hold, directly or indirectly, Beneficial Ownership of any CVRs.

“” has the meaning set forth in
.

“” has the meaning set forth in
.

“” has the meaning set forth in the Recitals.

“” means any statute, law, ordinance, regulation, rule, code, executive order, constitution, treaty, common law,
injunction, judgment, decree, Order or other requirement or rule of law of any Governmental Authority.

“” means, as of the time of determination, Holders of not less than a majority of the issued and Outstanding CVRs.

“” means, with respect to any Qualified Monetization, an amount equal to (a) Gross Proceeds with respect to
such Qualified Monetization, (b) the Applicable Expenses with respect to such Qualified Monetization.

“” has the meaning set forth in .

“” means a certificate signed by an authorized officer of the CVR Issuer, in his or her capacity as
such an officer, and delivered to the Rights Agent.

“” means any order, writ, judgment, injunction, decree, ruling,
stipulation, determination or award entered by or with any Governmental Authority.

“” means the date that is
seven and one-half (7.5) years after the date hereof; that, in the event (a) an Applicable Order has been issued prior to the Outside Date or (b) the CVR Issuer (or any of its
Affiliates) enters into a definitive agreement in respect of an Applicable Transfer prior to the Outside Date, but Gross Proceeds resulting from any event described in the foregoing clause (a) or (b) have not been received as of the
Outside Date, the Outside Date shall automatically be extended to the date on which all of the Applicable Consideration payable hereunder in respect of such event(s) has been deposited with the Rights Agent for further distribution to the Holders.

B-4

“” when used with respect to CVRs means, as of the date of
determination, all CVRs theretofore authenticated and delivered under this Agreement, except CVRs theretofore canceled by the Rights Agent in accordance with this Agreement or delivered to the Rights Agent for cancellation in accordance with this
Agreement; that, for the avoidance of doubt, any CVRs owned by the CVR Issuer or any Affiliate of the CVR Issuer (other than any CVRs abandoned and canceled pursuant to