Company: SGBAF
Filing Date: 2025-04-01
Form Type: DRS/A
Source: 0000950123-25-003272
Chunk: 536

Company: SES S.A.
Filing Date: 2025-04-01
Form: DRS/A
Chunk 536
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 hereof, would be subject to ; , , that this shall not apply to Material Indebtedness Contracts,
which are subject to ;

(xi) other than in the ordinary course of business or
as expressly contemplated by this Agreement, decommission, re-orbit or dispose of any Indiana Satellite(s) with an aggregate value exceeding $50,000,000, other than in the case of (A) a commercial
transaction or (B) operational circumstances, such as necessitated by a major failure, compliance with international standards, a demand by a Governmental Authority requiring immediate action, or a similar requirement beyond Indiana’s
control; that, in each case, except for operational circumstances necessitated 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

Confidential Treatment Requested by SES

Pursuant to 17 C.F.R. Section 200.83

anticipated capital expenditure amount allocated to such line item