Company: SGBAF
Filing Date: 2025-05-08
Form Type: F-4/A
Source: 0001193125-25-115825
Chunk: 634

Company: SES S.A.
Filing Date: 2025-05-08
Form: F-4/A
Chunk 634
---
 applicable Law, each Contracting Party hereby waives and releases all such liabilities, claims, causes of action and obligations against any such
Non-Party Affiliates. Without limiting the generality of the foregoing, to the maximum extent permitted by applicable Law, (a) each Contracting Party hereby waives and releases any and all rights, claims,
demands, or causes of action that may otherwise be available at law or in equity, or granted by statute, to avoid or disregard the Entity form of a Contracting Party or otherwise impose liability of a Contracting Party on any Non-Party Affiliate, whether granted by statute or based on theories of equity, agency, control, instrumentality, alter ego, domination, sham, single business enterprise, piercing the veil, unfairness,
undercapitalization, or otherwise and (b) each Contracting Party disclaims any reliance upon any Non-Party Affiliates with respect to the performance of this Agreement and the transactions contemplated
hereby or any representation or warranty made herein by a Contracting Party. By accepting a CVR, each Holder waives and releases all such liability against all Non-Party Affiliates. The waiver and release are
part of the consideration for the issue of the CVRs.

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B-17

IN WITNESS WHEREOF, each of the parties has caused this Agreement to be executed on its behalf by its duly authorized officers as of the day and year first above written.

| CVR Issuer:   |
| SES S.A.      |
| By:           |
| Name:         |
| Title:        |
| Rights Agent: |
| [●]           |
| By:           |
| Name:         |
| Title:        |

B-18

EXHIBIT A-1

DIRECT OWNER LEGEND

THE CVRS ARE SUBJECT TO
VARIOUS TERMS, PROVISIONS AND CONDITIONS, INCLUDING CERTAIN RESTRICTIONS ON SALE, DISPOSITION OR TRANSFER, AS SET FORTH IN THE CVR AGREEMENT OF SES S.A. (THE “CVR ISSUER”), DATED AS OF [●] [●], 202[●] (AS AMENDED,
SUPPLEMENTED, AMENDED AND RESTATED OR OTHERWISE MODIFIED FROM TIME TO TIME, THE “CVR AGREEMENT”). NO REGISTRATION OR TRANSFER OF THE CVRS MAY BE MADE UNLESS AND UNTIL SUCH RESTRICTIONS SHALL HAVE BEEN COMPLIED WITH, INCLUDING COMPLI