Company: SGBAF
Filing Date: 2025-04-01
Form Type: DRS/A
Source: 0000950123-25-003272
Chunk: 366

Company: SES S.A.
Filing Date: 2025-04-01
Form: DRS/A
Chunk 366
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 received a net cash amount of EUR 47 million from the financial institution as advance settlement of future receivables arising between 2024 and 2025 under contracts with a specific customer. A corresponding aggregate liability including interest of EUR 48 million (2023: EUR 72 million), representing SES’s obligation towards the financial institution to continue to provide services to the customer in accordance with the terms of the customer contract, is recorded in the consolidated statements of financial position as of December 31, 2024 under ‘Trade and other payables’ for EUR 25 million (2023: EUR 25 million) and under ‘Other financial long-term liabilities’ for EUR 23 million. Other long-term liabilities The other long-term liabilities include customer collateral deposits amounting to EUR 18 million (2023: EUR 23 million). Note 31—Fixed assets suppliers

| € million   |     | 2024 |     |     | 2023 |     |
| Non-current |     |      | 426 |     |      | 313 |
| Current     |     |      | 184 |     |      | 455 |

Fixed assets suppliers represent liabilities for assets being either acquired directly through procurement contracts with asset manufacturers, or in the framework of agreements whereby the asset is being acquired by an intermediary but where in substance SES bears the risks and rewards of the procurement. In the latter case the Company accrues for construction-related liabilities on the basis of pre-determinedmilestones agreed between the manufacturer and the relevant parties, see also Note 30. Non-currentfixed assets suppliers are initially recognized at fair value and subsequently measured at amortized cost using the effective interest method. The main procurements under this caption are:

| • |     | Satellites for the mPOWER MEO constellation: EUR 233 million (2023: EUR 377 million) |

| • |     | Three replacement GEO satellites: EUR 347 million (2023: 330 million EUR) |

| • |     | One GEO satellite already in orbit: EUR 0 million (2023: EUR 31 million) |

mPOWER satellites In September 2017, the Company, jointly with its subsidiary O3b Networks Limited, entered as Procurement Agent into a Master Procurement Agency and Option Agreement with a financial institution in connection with the procurement by that financial institution of seven medium-Earth orbit satellites from a satellite manufacturer. At the end of the satellite construction period the Group has the right to acquire, or lease, the satellites from the