Company: SGBAF
Filing Date: 2025-04-23
Form Type: DRS/A
Source: 0000950123-25-003652
Chunk: 497

Company: SES S.A.
Filing Date: 2025-04-23
Form: DRS/A
Chunk 497
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 of operations of Indiana and
its Subsidiaries (excluding any Excluded Liabilities), taken as a whole; , , that no event, change, circumstance, occurrence or effect to the extent directly or indirectly resulting from, arising out of, attributable to,
or relating to any of the following shall be deemed to be or constitute an “Indiana Material Adverse Effect” or shall be taken into account when determining whether an “Indiana Material Adverse Effect” has occurred or would
occur: (i) any changes in conditions generally affecting the satellite services industry (including the sale, license or other distribution of satellite capacity) or the telecommunications industry; (ii) any changes in general economic or
business conditions or in the financial, debt, banking, capital, credit or securities markets, or in interest or exchange rates, in each case, in the United States or elsewhere in the world; (iii) any failure, in and of itself, by Indiana to
meet any Indiana Projection (it being understood that the events, changes, circumstances, occurrences or effects giving rise to or contributing to such failure may be deemed to constitute or be taken into account in determining whether there has
occurred or would reasonably be expected to occur an Indiana Material Adverse Effect to the extent such events, changes, circumstances, occurrences or effects are not otherwise excluded under the other clauses of this definition); (iv) the
execution and delivery of this Agreement or the public announcement of the Transactions, including (A) the impact thereof on the relationships, contractual or otherwise, of Indiana or any of its Subsidiaries with any customers, suppliers,
distributors, partners or employees and (B) the initiation of any claim or Action by any Person arising out of or relating to this Agreement; (v) any change, in and of itself, in the market price or trading volume of Indiana’s
securities (it being understood that the events, changes, circumstances, occurrences or effects giving rise to or contributing to such change may be deemed to constitute, or be taken into account in determining whether there has occurred, or would
reasonably be expected to occur, an Indiana Material Adverse Effect to the extent such events, changes, circumstances, occurrences or effects are not otherwise excluded under the other clauses of this definition); (vi) any changes in applicable
Law, Applicable Accounting Principles or any authoritative

A-8

Confidential Treatment Requested by SES

Pursuant to 17 C.F.R. Section 200.83

interpretation