Company: SGBAF
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001193125-25-120606
Chunk: 179

Company: SES S.A.
Filing Date: 2025-05-15
Form: 424B3
Chunk 179
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 660 |
| Germany                  |                 |                    |          321 |     |     |          329 |     |     |          345 |
| United Kingdom           |                 |                    |          203 |     |     |          214 |     |     |          227 |
| France                   |                 |                    |           74 |     |     |           78 |     |     |           81 |
| Luxembourg               |                 |                    |           79 |     |     |           49 |     |     |           49 |
| Others – Europe          |                 |                    |          205 |     |     |          205 |     |     |          193 |
| Others                   |                 |                    |          406 |     |     |          396 |     |     |          389 |
| Total                    |                 |                    |        2,001 |     |     |        2,030 |     |     |        1,944 |

Factors and Trends Affecting SES’s Results of Operations We believe that the performance of our business and our results of operations are driven by various factors, including:

| • |     | rapidly increasing competition in our industry, including competition from existing satellite operators,                                                               
 competition from new entrants, and competition resulting from new satellite-based offerings in response to significant growth opportunities in the satellite industry; |

133

| • |     | impact of rapid technology innovations which have facilitated the production of more capable and cost-effective                                                                                                                                    
 space-based infrastructure, enabling operators to offer an improved customer value proposition, higher data rates, better performance, greater flexibility, and scalability to quickly expand into previously unconnected markets and geographies; |

| • |     | impact of strategic transactions in our industry including mergers and acquisitions and vertical integration                        
 initiatives with the potential to unlock operational efficiencies, optimize capital expenditures, and improve return on investment; |

| • |     | continued growth in demand for reliable, high-performance data and connectivity solutions worldwide which is 
 expected to drive substantial industry growth;                                                               |

| • |     | demand for satellite capacity from defense and military agencies around the world; |

| • |     | rate of acceleration in upgrades and expansions of telecom and mobile services, as operators are looking to             
 satellite to extend their network reach by rolling out 4G and 5G cellular backhaul, as well as community WiFi services; |

| • |     | increased spending by governments driven by current geopolitical uncertainty, with an expected