Company: SGBAF
Filing Date: 2025-04-23
Form Type: DRS/A
Source: 0000950123-25-003652
Chunk: 641

Company: SES S.A.
Filing Date: 2025-04-23
Form: DRS/A
Chunk 641
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 be bound by this Agreement as a Beneficial Owner. Following a Transfer in which a Beneficial Owner elects to hold as a Direct Owner (or vice versa), the Rights Agent shall amend the CVR Register to reflect the change in Direct
Owners, and the Rights Agent shall take any other appropriate action in connection therewith.

(c) The CVR Issuer will enter into the
Depository Agreement pursuant to which DTC will act as a securities depository for the CVRs. The CVRs deposited with DTC will be represented by a Global Security (which may be a book-entry security or consist of one or more certificates as required
by DTC), which will be registered in the name of Cede & Co., as nominee for DTC or as DTC shall otherwise direct, and deposited with, or on behalf of, DTC. No other certificates evidencing such CVRs will be issued. The Global Security shall
be in the form attached hereto as or described therein and shall represent such CVRs as shall be specified

B-7

Confidential Treatment Requested by SES

Pursuant to 17 C.F.R. Section 200.83

therein and may provide that it shall represent the aggregate amount of Outstanding CVRs from time to time endorsed thereon and that the aggregate amount of Outstanding CVRs represented thereby
may from time to time be increased or decreased. As of the Effective Date, without the need for any action or consent of any Person, including the CVR Issuer, an initial Global Security shall be issued reflecting the number of CVRs to be issued to
Cede & Co. as of the Effective Date and shown on the CVR Register. Any Global Security shall be executed by an officer on behalf of the CVR Issuer. Any endorsement of a Global Security to reflect the amount, or any increase or decrease in
the amount, of Outstanding CVRs represented thereby shall be made in such manner and upon instructions given by the CVR Issuer as specified in the Depository Agreement.

(d) Direct Registration CVRs shall be uncertificated and evidenced by the Direct Registration System maintained by the Rights Agent. Direct
Registration CVRs do not need to be authenticated and shall be valid and obligatory for all purposes of this Agreement and shall entitle each Direct Owner thereof to all benefits of this Agreement.

(e) As promptly as reasonably practicable after the Effective Date, the Rights Agent shall provide a written statement to each Direct Owner
showing the number of Direct Registration CVRs