# EDGAR Filing Document

**Accession Number:** 0001021944
**File Stem:** 0001193125-25-273102
**Filing Date:** 2025-11
**Character Count:** 15802
**Document Hash:** d901cae59e9b44bafc818206e8269b38
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-273102.hdr.sgml**: 20251110

**ACCESSION NUMBER**: 0001193125-25-273102

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13G/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20251110

**DATE AS OF CHANGE**: 20251110

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SES AI Corp
- **CENTRAL INDEX KEY:** 0001819142
- **STANDARD INDUSTRIAL CLASSIFICATION:** MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-91985
- **FILM NUMBER:** 251464130

**BUSINESS ADDRESS:**
- **STREET 1:** 35 CABOT RD.
- **CITY:** WOBURN
- **STATE:** MA
- **ZIP:** 01801
- **BUSINESS PHONE:** 339-298-8750

**MAIL ADDRESS:**
- **STREET 1:** 35 CABOT RD.
- **CITY:** WOBURN
- **STATE:** MA
- **ZIP:** 01801

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Ivanhoe Capital Acquisition Corp.
- **DATE OF NAME CHANGE:** 20200723
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Temasek Holdings (Private) Ltd
- **CENTRAL INDEX KEY:** 0001021944

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** U0
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G/A

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 60B ORCHARD ROAD #06-18
- **STREET 2:** THE ATRIUM@ORCHARD
- **CITY:** SINGAPORE
- **PROVINCE COUNTRY:** U0
- **ZIP:** 238891
- **BUSINESS PHONE:** 65 6828 6828

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 60B ORCHARD ROAD #06-18
- **STREET 2:** THE ATRIUM@ORCHARD
- **CITY:** SINGAPORE
- **PROVINCE COUNTRY:** U0
- **ZIP:** 238891

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TEMASEK HOLDINGS (PRIVATE) LTD
- **DATE OF NAME CHANGE:** 20050912

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TEMASEK HOLDINGS LTD
- **DATE OF NAME CHANGE:** 19960829

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13G

### Under the Securities Exchange Act of 1934

**(Amendment No. 2)**

**Issuer:** SES AI Corporation

**Title of Class of Securities:** Class A common stock, par value $0.0001 per share

**CUSIP Number:** 78397Q109

**Date of Event Which Requires Filing of this Statement:** 09/30/2025

**Check the appropriate box to designate the rule pursuant to which this Schedule is filed:**

- [ ] Rule 13d-1(b)

- [x] Rule 13d-1(c)

- [ ] Rule 13d-1(d)

---

| 1. | Names of Reporting Persons<br>Temasek Holdings (Private) Limited | Names of Reporting Persons<br>Temasek Holdings (Private) Limited |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>U0 | Citizenship or Place of Organization<br>U0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>3160712 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>0.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>3160712 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>3160712 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>1.0% | Percent of Class Represented by Amount in Row (9)<br>1.0% |
| 12. | Type of Reporting Person (See Instructions)<br>HC | Type of Reporting Person (See Instructions)<br>HC |

**Comment for Type of Reporting Person:** Based on 320,896,206 shares of Class A common stock of SES AI Corporation (the "Issuer") outstanding as of August 25, 2025, as set forth in the Issuer's definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission (the "Commission") on September 9, 2025 (the "Proxy Statement").

---

| 1. | Names of Reporting Persons<br>Tembusu Capital Pte. Ltd. | Names of Reporting Persons<br>Tembusu Capital Pte. Ltd. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>U0 | Citizenship or Place of Organization<br>U0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>2595854 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>0.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2595854 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2595854 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>0.8% | Percent of Class Represented by Amount in Row (9)<br>0.8% |
| 12. | Type of Reporting Person (See Instructions)<br>HC | Type of Reporting Person (See Instructions)<br>HC |

**Comment for Type of Reporting Person:** Based on 320,896,206 shares of the Issuer's Class A common stock outstanding as of August 25, 2025, as set forth in the Issuer's Proxy Statement.

---

| 1. | Names of Reporting Persons<br>Thomson Capital Pte. Ltd. | Names of Reporting Persons<br>Thomson Capital Pte. Ltd. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>U0 | Citizenship or Place of Organization<br>U0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>2595854 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>0.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2595854 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2595854 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>0.8% | Percent of Class Represented by Amount in Row (9)<br>0.8% |
| 12. | Type of Reporting Person (See Instructions)<br>HC | Type of Reporting Person (See Instructions)<br>HC |

**Comment for Type of Reporting Person:** Based on 320,896,206 shares of Class A common stock of the Issuer outstanding as of August 25, 2025, as set forth in the Issuer's Proxy Statement.

---

| 1. | Names of Reporting Persons<br>Anderson Investments Pte. Ltd. | Names of Reporting Persons<br>Anderson Investments Pte. Ltd. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>U0 | Citizenship or Place of Organization<br>U0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>2595854 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>0.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2595854 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2595854 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>0.8% | Percent of Class Represented by Amount in Row (9)<br>0.8% |
| 12. | Type of Reporting Person (See Instructions)<br>HC | Type of Reporting Person (See Instructions)<br>HC |

**Comment for Type of Reporting Person:** Based on 320,896,206 shares of Class A common stock of the Issuer outstanding as of August 25, 2025, as set forth in the Issuer's Proxy Statement

---

**Item 1(a). Name of Issuer:**
SES AI Corporation

**Item 1(b). Address of Issuer's Principal Executive Offices:**
35 Cabot Road, Woburn, MA 01801

**Item 2(a). Name of Person Filing:**
This Schedule 13G is being jointly filed by the following reporting persons (each a "Reporting Person" and collectively, the "Reporting Persons"):
(i)	Temasek Holdings (Private) Limited ("Temasek");
(ii)	Tembusu Capital Pte. Ltd. ("Tembusu");
(iii)	Thomson Capital Pte. Ltd. ("Thomson");
(iv)	Anderson Investments Pte. Ltd. ("Anderson", and, together with Temasek, Tembusu and Thomson, the "Reporting Persons").

**Item 2(b). Address of Principal Business Office:**
Each of the Reporting Persons:

60B Orchard Road
#06-18
The Atrium@Orchard
Singapore 238891.

**Item 2(c). Citizenship:**
Each of the Reporting Persons: Republic of Singapore.

**Item 2(d). Title of Class of Securities:**
Class A common stock, par value $0.0001 per share

**Item 2(e). CUSIP Number:**
78397Q109

**Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:**

(a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

(d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

(e) [ ] An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f) [ ] An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g) [ ] A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j) [ ] A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), if filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:

(k) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

**Item 4. Ownership:**

**(a) Amount beneficially owned:**

Anderson has the right to acquire 2,595,854 shares of the Issuer's Class A common stock (the "Earnout Shares"), upon the achievement of certain stock price performance targets, pursuant to the Business Combination Agreement, as amended, by and among the Issuer, SES Holdings Pte. Ltd., a Singapore private company limited by shares, and Wormhole Amalgamation Sub Pte. Ltd., a Singapore private company limited by shares, and a direct, wholly-owned subsidiary of the Issuer (the "Business Combination Agreement"). Prior to the vesting of these shares, Anderson has the power to vote, but not dispose of, the Earnout Shares. Anderson is a wholly-owned subsidiary of Thomson, which is a wholly-owned subsidiary of Tembusu, which is a wholly-owned subsidiary of Temasek. Each of Thomson, Tembusu and Temasek, through the ownership described herein, may be deemed to beneficially own the shares held by Anderson.
Temasek, through the ownership described herein and the indirect 100% ownership of one other entity that directly owned 564,858 Earnout Shares, may be deemed to beneficially own in aggregate 3,160,712 shares of the Issuer's Class A common stock, including the 2,595,854 Earnout Shares directly owned by Anderson.

**(b) Percent of class:**

As of November 6, 2025:
Temasek: 1.0%
Tembusu, Thomson and Anderson: 0.8%
Based on 320,896,206 shares of Class A common stock of the Issuer outstanding as of August 25, 2025, as set forth in the Issuer's Proxy Statement.

**(c) Number of shares as to which the person has:**

**(i) Sole power to vote or to direct the vote:**

0.00

**(ii) Shared power to vote or to direct the vote:**

Temasek: 3,160,712
Tembusu, Thomson and Anderson: 2,595,854

**(iii) Sole power to dispose or to direct the disposition of:**

0.00

**(iv) Shared power to dispose or to direct the disposition of:**

0.00

**Item 5. Ownership of Five Percent or Less of a Class.**

[ ] If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following.

**Item 6. Ownership of More than 5 Percent on Behalf of Another Person.**

Not Applicable

**Item 7. Identification and Classification of the Subsidiary**

Not Applicable

**Item 8. Identification and Classification of Members of the Group**

Not Applicable

**Item 9. Notice of Dissolution of Group**

Not Applicable

**Item 10. Certification:**

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Temasek Holdings (Private) Limited**

**Date:** 11/10/2025

**By:** /s/ Jason Norman Lee

**Name & Title:** Jason Norman Lee / Authorized Signatory

**Tembusu Capital Pte. Ltd.**

**Date:** 11/10/2025

**By:** /s/ Gregory Tan

**Name & Title:** Gregory Tan / Director

**Thomson Capital Pte. Ltd.**

**Date:** 11/10/2025

**By:** /s/ Ng JianZhong

**Name & Title:** Ng JianZhong / Director

**Anderson Investments Pte. Ltd.**

**Date:** 11/10/2025

**By:** /s/ Tan Yee Pin, Stanley

**Name & Title:** Tan Yee Pin, Stanley / Director