Company: SGBAF
Filing Date: 2025-04-23
Form Type: DRS/A
Source: 0000950123-25-003652
Chunk: 657

Company: SES S.A.
Filing Date: 2025-04-23
Form: DRS/A
Chunk 657
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 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

Confidential Treatment Requested by SES Pursuant to 17 C.F.R. Section 200.83 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

Confidential Treatment Requested by SES

Pursuant to 17 C.F.R. Section 200.83

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 COMPLIANCE
WITH THE CVR AGREEMENT.

THE CVR ISSUER OR THE RIGHTS AGENT WILL FURNISH, WITHOUT CHARGE, TO EACH HOLDER OF RECORD OF THE CVRS REPRESENTED HEREBY A COPY
OF THE CV