Company: SGBAF
Filing Date: 2025-04-01
Form Type: DRS/A
Source: 0000950123-25-003272
Chunk: 533

Company: SES S.A.
Filing Date: 2025-04-01
Form: DRS/A
Chunk 533
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 Subsidiaries or (B) until receipt of the Indiana Shareholder Approval, any voting Equity Securities or Equity Securities
convertible or exercisable into voting Equity Securities of Indiana (other than the issuance of Indiana Common Shares upon the exercise of Indiana Warrants or the

A-43

Confidential Treatment Requested by SES

Pursuant to 17 C.F.R. Section 200.83

settlement of Indiana RSUs or Indiana PSUs, in each case issued and outstanding as of the date hereof or issued in accordance with ), in each case,
other than the disposition of any Equity Securities in a Permitted Disposition;

(iii) sell, transfer, license, dispose of
or subject to any Encumbrance (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