Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 386

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 386
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 Total                                       |     | $ |           296,492 |     | $ |           291,996 |

F-135

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

| (1) | U.S. Large-Cap Equity includes investments in funds that invest                                                                                                                                                                                   
 primarily in a portfolio of common stocks included in the S&P 500 Index, as well as other equity securities and derivative instruments whose value is derived from the performance of the S&P 500. The fair values of these assets are determined 
 using Level 1 inputs.                                                                                                                                                                                                                             |

| (2) | World Equity Ex-U.S. includes an investment in a fund that invests                                                                                                                                                                                     
 primarily in common stocks and other equity securities whose issuers comprise a broad range of capitalizations and that are located outside of the U.S. The fund invests primarily in developed countries but may also invest in emerging markets. The 
 fair values of these assets are determined using Level 1 inputs.                                                                                                                                                                                       |

| (3) | Intermediate Duration Bonds include an investment in a fund that seeks to provide current income consistent                                                                                                                                           
 with the preservation of capital through investment in investment-grade U.S. dollar-denominated fixed-income instruments. This primarily includes U.S. and foreign corporate obligations; fixed-income securities issued by sovereigns or agencies in 
 both developed and emerging foreign markets; obligations of supranational entities; debt obligations issued by state, provincial, county, or city governments or other municipalities, as well as those of public utilities, universities and other   
 quasi-governmental bodies; and securities issued or guaranteed by the U.S. Government and its agencies and instrumentalities. The fair values of these assets are determined using Level 1 inputs.                                                    |

| (4) | Long Duration Bonds includes an investment in a fund that invests primarily in (i) U.S. and foreign                                                                                                                                                 
 corporate obligations; (ii) fixed income securities issued by sovereigns or agencies in both developed and emerging foreign markets; (iii) obligations of supranational entities; (iv) debt obligations issued by state, provincial,                
 county, or city governments or other municipalities, as well as those of public utilities, universities and other quasi-governmental bodies; and (v) securities issued or guaranteed by the U.S. Government and its agencies and instrumentalities. 
 The fair values of these assets are determined using Level 1 inputs.                                                                                                                                                                                |

| (5) | U.S. Treasuries include Treasury