Company: SGBAF
Filing Date: 2025-05-08
Form Type: F-4/A
Source: 0001193125-25-115825
Chunk: 539

Company: SES S.A.
Filing Date: 2025-05-08
Form: F-4/A
Chunk 539
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 by a major failure or similar requirement beyond Indiana’s or such Subsidiary’s control, prior authorization from the applicable Governmental
Authority is obtained for such decommission, re-orbiting or disposal;

(xii)
(A) authorize, or make any commitment with respect to, any capital expenditures set forth in the capital budget of Indiana attached as of the Indiana Disclosure Schedules (the “”) in a manner not reflected in the Indiana Budget, in each case, including by reallocating the amount of any proposed capital expenditure to any other category, line item or time period included in the Indiana Budget, other than
(1) capital expenditures not in excess of (x) $50,000,000 in the aggregate for Indiana and its Subsidiaries from the date hereof through the earlier to occur of the Closing Date and the Initial Outside Date, or (y) if the Initial Outside
Date is extended in accordance with , $75,000,000 in the aggregate for and its Subsidiaries from the date hereof through the earlier to occur of the Closing Date and the Initial Outside Date (or, if the
Initial Outside Date is extended in accordance with , the Second Extended Outside Date), (2) a positive and/or negative variance in the capital expenditure amount allocated to any specific fiscal year
included in the Indiana Budget that is offset in full by a corresponding positive or negative variance, as applicable, in the capital expenditure amount allocated to a subsequent fiscal year included in the Indiana Budget and (3) a positive 10%
variance in the capital expenditure amount allocated to any specified line item in the Indiana Budget (as compared to the

A-45

anticipated capital expenditure amount allocated to such line item in the Indiana Budget); that such 10% variance shall be included for purposes of determining whether the
thresholds in the foregoing have been exceeded; , , that Indiana shall notify Saturn of any expected negative variance in the capital expenditure amount allocated to any specified
line item in the Indiana Budget (as compared to the anticipated capital expenditure amount allocated to such specified line item in the Indiana Budget) of more than 10% or (B) fail to make capital expenditures designated as committed in the
Indiana Budget consistent in all material respects with the Indiana Budget and otherwise in the ordinary course of business consistent with past practice; that, notwithstanding the foregoing, Indiana shall be permitted to make
capital expenditures not reflected in the Indiana Budget solely to the extent (1) such matter has been duly approved by the Indiana Board in accordance with