Company: SGBAF
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001193125-25-120606
Chunk: 173

Company: SES S.A.
Filing Date: 2025-05-15
Form: 424B3
Chunk 173
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 comply with Regulation FD, which restricts the selective disclosure of material information.

Corporate Information

SES’s
principal executive office is located at Château de Betzdorf, L-6815 Betzdorf (Grand Duchy of Luxembourg) and its telephone number is + 352
710-725-1.

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SES – MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

You should read the following discussion and analysis of SES’s financial condition and results of operations together with its consolidated financial statements and related notes appearing in this prospectus. Some of the information contained in this discussion and analysis, including information with respect to SES’s plans and strategy for its business, includes forward-looking statements that involve risks and uncertainties. As a result of many factors, including those factors set forth in the “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements” sections of this prospectus, SES’s actual results could differ materially from the results described in or implied by the forward-looking statements contained in the following discussion and analysis.

For the purposes of the following discussion and analysis of SES’s financial condition and results of operations, references to SES are to SES and its subsidiaries.

COMPANY OVERVIEW

This overview section generally discusses our operating results as of December 31, 2024, unless otherwise noted.

SES has a vision to deliver amazing experiences everywhere on earth by distributing the highest-quality video content and providing seamless
connectivity around the world. SES operates more than 70 satellites in two different orbits—in Geostationary Orbits (“GEO”) and in Medium Earth Orbits (“MEO”)—covering over 99% of the earth and delivering a combination
of high data rates, low latency, service reliability, and flexibility with the aim to meet its customers’ requirements worldwide.

SES’s business supports a range of applications, including the transmission of direct-to-home (“DTH”) television broadcasts, a high-value application with persistent characteristics. SES also provides connectivity and cloud services, including very small aperture terminal
networks (“VSAT”), broadband internet access, and mobile backhaul, to enterprises, institutions and governments.

Recent Developments

Redemption of $2 Billion of Intelsat Jackson Notes

On April 30, 2025, SES announced that it may, subject to market conditions, elect to issue new notes and use the proceeds to
(i) redeem, at the Closing, approximately $2 billion in aggregate principal amount of the Intelsat Jackson Notes in accordance