Company: SGBAF
Filing Date: 2025-05-08
Form Type: F-4/A
Source: 0001193125-25-115825
Chunk: 545

Company: SES S.A.
Filing Date: 2025-05-08
Form: F-4/A
Chunk 545
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 Indiana’s U.S. government business that is subject to an FOCI Mitigation Agreement to SES S&D at Closing (or an
alternative structure to achieve a single FOCI-mitigation structure) without any additional consideration but at no additional expense or cost (including Taxes) to Indiana.

A-48

Section 5.4 . Indiana agrees that between
the date hereof and the earlier of the Closing and the termination hereof, it shall not, and shall take all action necessary to ensure that none of its Subsidiaries or any of their respective Affiliates and Representatives shall, directly or
indirectly, (a) solicit, initiate, knowingly encourage or facilitate, or accept any proposal or offer that constitutes an Acquisition Proposal or (b) participate in any third-party discussions, conversations, negotiations or other
communications regarding, or furnish to any other Person any information with respect to any proposal that constitutes, or would reasonably be expected to lead to, an Acquisition Proposal. Indiana immediately shall cease and cause to be terminated
all existing discussions, conversations, negotiations and other communications with any third parties conducted heretofore with respect to any of the foregoing. Indiana shall notify Saturn promptly, but in any event within 24 hours, orally and in
writing if any such Acquisition Proposal, or any inquiry or other contact with any Person with respect thereto, is made. Any such notice to Saturn shall indicate in reasonable detail the identity of the Person making such Acquisition Proposal,
inquiry or other contact and the terms and conditions of such Acquisition Proposal, inquiry or other contact. Indiana shall not, and shall cause its Subsidiaries not to, release any Person from, or waive any provision of, any confidentiality or
standstill agreement to which Indiana or any of its Subsidiaries is a party, without the prior written consent of Saturn. Neither Indiana nor the Indiana Board shall (x) change, withhold, withdraw, qualify, amend or modify (or publicly propose
to change, withhold, withdraw, qualify, amend or modify) the Indiana Board Recommendation or vote for or approve any other Acquisition Proposal, (y) fail to include the Indiana Board Recommendation in the Indiana Shareholder Meeting Materials,
or (z) (1) convene any meeting of the holders of Indiana Common Shares to consider or vote upon any Acquisition Proposal (other than with respect to the Transactions at the Indiana Shareholder Meeting) or (2) otherwise seek the consent of
the holders of Indiana Common Shares to vote upon or effectuate any Acquisition