Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 505

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 505
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 Date and the Initial Outside Date, or (y) if the Initial Outside
Date is extended in accordance with , $75,000,000 in the aggregate for and its Subsidiaries from the date hereof through the earlier to occur of the Closing Date and the Initial Outside Date (or, if the
Initial Outside Date is extended in accordance with , the Second Extended Outside Date), (2) a positive and/or negative variance in the capital expenditure amount allocated to any specific fiscal year
included in the Indiana Budget that is offset in full by a corresponding positive or negative variance, as applicable, in the capital expenditure amount allocated to a subsequent fiscal year included in the Indiana Budget and (3) a positive 10%
variance in the capital expenditure amount allocated to any specified line item in the Indiana Budget (as compared to the

A-45

Confidential Treatment Requested by SES

Pursuant to 17 C.F.R. Section 200.83

anticipated capital expenditure amount allocated to such line item in the Indiana Budget); that such 10% variance shall be included for purposes of determining whether the
thresholds in the foregoing have been exceeded; , , that Indiana shall notify Saturn of any expected negative variance in the capital expenditure amount allocated to any specified
line item in the Indiana Budget (as compared to the anticipated capital expenditure amount allocated to such specified line item in the Indiana Budget) of more than 10% or (B) fail to make capital expenditures designated as committed in the
Indiana Budget consistent in all material respects with the Indiana Budget and otherwise in the ordinary course of business consistent with past practice; that, notwithstanding the foregoing, Indiana shall be permitted to make
capital expenditures not reflected in the Indiana Budget solely to the extent (1) such matter has been duly approved by the Indiana Board in accordance with Indiana’s Organizational Documents; (2) the Indiana Board has reasonably
determined, in good faith, that such matter has an anticipated internal rate of return of at least 12%; (3) Indiana has received investment support in the form of a “take or pay” or another material commitment that is equal to at
least 30% of the total value of such matter; and (4) (x) Indiana has provided Saturn with at least 14 days’ prior written notice of the material terms of such matter and any other information as Saturn shall reasonably request and
(y) Saturn has provided its consent in writing (not to be unreasonably withheld, conditioned or delayed);

(xiii)