Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 460

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 460
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 immediately prior to the Closing, (B) the per share cash consideration determined to be distributable to Indiana
Shareholders by the Liquidator and (ii) a number of CVRs equal to the number of Indiana Common Shares subject to such Indiana RSU immediately prior to the Closing.

(b) At the Closing, (i) each Indiana PSU that is an Indiana MC PSU shall vest in accordance with its terms and, at the Closing, be
automatically cancelled and converted into the right to receive from Indiana, in connection with the Liquidation, (A) cash (without interest, and subject to deduction for any required withholding Tax) equal to the product of (1) the number
of Indiana Common Shares (inclusive of any accrued dividend equivalents attributable thereon) subject to such Indiana MC PSU immediately prior to the Closing based on the attainment of the actual level of performance as measured immediately prior to
the Closing by the Indiana Board or a committee thereof after giving effect to the consummation of the Transactions, (2) the per share cash consideration determined to be distributable to Indiana Shareholders by the
Liquidator; and (B) a number of CVRs equal to the number of Indiana Common Shares subject to such Indiana MC PSU immediately prior to the Closing after giving effect to the consummation of the Transaction and (ii) each Indiana PSU that is
not an Indiana MC PSU that is outstanding immediately prior to the Closing shall, at the Closing, be automatically cancelled and converted into the right to receive from Indiana, in connection with the Liquidation, (A) cash (without interest,
and subject to deduction for any required withholding Tax) equal to the product of (1) the number of Indiana Common Shares (inclusive of any accrued dividend equivalents attributable thereon) subject to such Indiana PSU immediately prior to the
Closing based on the attainment of the greater of the (x) target or (y) actual level of performance (as set forth in the applicable award document), as measured

A-21

Confidential Treatment Requested by SES

Pursuant to 17 C.F.R. Section 200.83

immediately prior to the Closing by the Indiana Board or a committee thereof, (2) the per share cash consideration determined to be distributable to Indiana Shareholders
by the Liquidator; and (B) a number of CVRs equal to the number of Indiana Common Shares subject to such Indiana PSU immediately prior to the Closing based on the attainment of the greater of the (x) target or (y)