Company: SGBAF
Filing Date: 2025-04-01
Form Type: DRS/A
Source: 0000950123-25-003272
Chunk: 375

Company: SES S.A.
Filing Date: 2025-04-01
Form: DRS/A
Chunk 375
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 C-band-relatedexpenses of EUR 5 million (2023: EUR 47 million, 2022: EUR 30 million) represent cost of sales of EUR 1 million (2023: EUR 2 million, 2022: EUR 3 million), accumulated staff costs is nil (2023: EUR 29 million, 2022: EUR 12 million) and other operating expenses (including travel and consulting charges) of EUR 4 million (2023: EUR 16 million, 2022: EUR 15 million). As of December 31, 2024, in connection with the operating expenses and capital expenditures above, the Group had other receivables of EUR 87 million (2023: EUR 350 million) related to the C-bandrepurposing project. Of the outstanding amount, EUR 79 million is expected to be received in March 2025 with the balance received later in 2025. As of December 31, 2024, SES had no remaining commitments for C-bandrepurposing expenditures (2023: EUR 3 million). Note 37—Subsequent events Repurchase of Deeply Subordinated Fixed Rate Resettable Securities On January 23, 2025, SES S.A. announced it has repurchased in the open market an aggregate amount of EUR 100 million in principal amount of its EUR 625 million Deeply Subordinated Fixed Rate Resettable Securities issued on May 27, 2021. In accordance with the terms and conditions of the Securities, the purchased Securities will be canceled. Following these transactions, the outstanding principal amount of the Securities is EUR 525 million. There have been no other material events occurring between the reporting date and the date when the consolidated financial statements were approved by the Board of Directors. F-95

Confidential Treatment Requested by SES Pursuant to 17 C.F.R. Section 200.83 Consolidated financial statements as of and for the years ended December 31, 2024, December 31, 2023 and December 31, 2022 Note 38—Consolidated subsidiaries, associates The consolidated financial statements include the financial statements of the Group’s subsidiaries and associates listed below:

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