Company: SGBAF
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001193125-25-120606
Chunk: 529

Company: SES S.A.
Filing Date: 2025-05-15
Form: 424B3
Chunk 529
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 (other than any Permitted Encumbrance) any properties or assets (including any Indiana Satellite), other than (A) sales or transfers of services or inventory in the ordinary course of business consistent with
past practice (including, for the avoidance of doubt, any such sale or transfer made in accordance with the governance principles set forth in of the Indiana Disclosure Schedules), (B) the
clearance or Applicable Transfer (as such term is defined in the New CVR Agreement) of Indiana Applicable Spectrum to the extent required pursuant to an Applicable Order, (C) sales or other dispositions of properties or assets (other than any
Indiana Applicable Spectrum and Equity Securities of Holdings), whether by merger, consolidation, equity sale, asset sale or otherwise, not to exceed $50,000,000 in the aggregate (collectively, “”) or
(D) sales or other dispositions of equipment that is surplus, obsolete or replaced in the ordinary course of business consistent with past practice;

(iv) repurchase, redeem or acquire, directly or indirectly, any Equity Securities of Indiana or any of its Subsidiaries, other
than (A) the repurchase of Indiana RSUs or Indiana PSUs in respect of a net settlement in the ordinary course of business and (B) the repurchase or redemption of Indiana Common Shares or Indiana Warrants or the repurchase of Indiana RSUs
or Indiana PSUs upon separation of the relevant director, officer, employee or independent contractor in accordance with the terms of such Person’s Contract or any Indiana Plan; , , that, when taken together with
the aggregate dollar amount of all Shareholder Returns made at any time after the Aggregate Shareholder Return Start Date through the Closing (including pursuant to ), (1) the aggregate dollar
amount of such repurchases and redemptions contemplated by the foregoing and shall not exceed $750,000,000 and (2) no such repurchase or redemption contemplated by the foregoing
and shall result, directly or indirectly, in Holdings holding less than $300,000,000 of Net Cash; , , that that the total amount of such repurchases or redemptions
contemplated by the foregoing (but excluding, for the avoidance of doubt, any amounts contemplated by the foregoing ) shall be included in Closing Aggregate Shareholder
Returns;

(v) declare, set aside, make or pay any dividend or other distribution on or with respect to any of its share
capital or other equity or ownership interest, other than (A) dividends