Company: SGBAF
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001193125-25-120606
Chunk: 130

Company: SES S.A.
Filing Date: 2025-05-15
Form: 424B3
Chunk 130
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 the CVRs on any securities exchange, and SES has no current plans to apply to list the CVRs on any stock exchange or on an over-the-countermarket. If the CVRs begin trading in the over-the-countermarket or if SES determines, in its sole discretion, to list the CVRs on a securities exchange, there is no assurance that such trading or listing will continue. The CVRs will not (i) be subject to any mandatory or optional redemption rights by the Holders or SES, (ii) mature or trigger any right to payment by the Holders in any amount or on any specific date, or (iii) be convertible into or exchangeable for any security or other interest in SES. Redemption The CVRs will not (i) be subject to any mandatory or optional redemption rights by the Holders or SES, (ii) mature or trigger any right to payment by the Holders in any amount or on any specific date, or (iii) be convertible into or exchangeable for any security or other interest in SES. 88

SES’s Acquisition of CVRs

The CVR Agreement does not prohibit SES or any of its affiliates from offering to acquire or acquiring any CVRs for consideration from the
Holders, in private transactions or otherwise, in its sole discretion.

Successors and Assigns; Merger

SES may assign any or all of its rights, interests and obligations, in its sole discretion and without the consent of any other party of the
CVR Agreement, to any of its affiliates; provided that (i) SES delivers to the Rights Agent an officer’s certificate certifying that such affiliate will be able to make any applicable payments pursuant to such agreement; and (ii) the
assignee agrees to assume and be bound by all of the terms of the CVR Agreement, and provided, further, that SES will remain liable for the performance by such assignee of all obligations of SES.

The CVR Agreement will be binding upon, inure to the benefit of, and be enforceable by each of the successors of SES and each assignee. Each
of the successors of SES and the assignees will expressly assume by an instrument supplemental to the CVR Agreement, executed and delivered to the Rights Agent, the due and punctual performance and observance of all of the covenants and obligations
of the CVR Agreement to be performed or observed by SES. Any attempted assignment in violation of the applicable provision in the CVR Agreement will be void and of no effect.

Change of Control