Company: SGBAF
Filing Date: 2025-04-01
Form Type: DRS/A
Source: 0000950123-25-003272
Chunk: 64

Company: SES S.A.
Filing Date: 2025-04-01
Form: DRS/A
Chunk 64
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 or prohibited due to sanctions compliance laws and regulations.

As an international company, SES’s
business is subject to applicable financial and trade sanctions compliance laws and regulations. Sanctions laws and regulations restrict SES’s ability to provide services or export hardware or software in or to certain countries, persons or
specific entities. In some cases, SES may be able to obtain an authorization from the relevant sanctioning country in order to provide service that would otherwise be prohibited by sanctions; however, there is no guarantee that such authorization
will be granted. As a result, SES may be required to forgo commercial opportunities that are subject to sanctions.

SES has policies and
systems in place designed to monitor the company’s activities and to prevent engaging in prohibited activities or dealing with sanctioned parties. Failure to obtain or maintain required sanctions authorizations or failure to comply with
applicable sanctions laws and regulations could have a material adverse effect on SES’s business, financial condition and results of operations.

Failure to generate cash flow or access other capital resources could force SES to reduce its operations or default on debt service obligations.

If, for any reason, SES is not successful in implementing its business model, cash flow and capital resources may not be
sufficient to repay indebtedness. If SES were unable to meet debt service obligations or comply with covenants, a default under debt agreements would occur. To avoid a possible default or upon a default, SES could be forced to reduce or delay the
completion or expansion of the satellite fleet, sell assets, obtain additional equity capital or restructure its debt. Any such action could have a material adverse effect on SES’s business, financial condition and results of operations.

SES’s financial results may be materially adversely affected by unforeseen additional tax assessments or other tax liabilities.

SES does business in many different countries and is subject to tax liabilities on its business operations in multiple tax jurisdictions. SES
makes provisions in its accounts for current and deferred tax liabilities and tax assets based on a continuous assessment of tax laws relating to it.

SES may become subject to unforeseen material tax claims, including late payment interest and/or penalties, and in some cases retroactive tax
assessments.

If SES becomes subject to a significant amount of unanticipated tax liabilities or has its transfer pricing arrangements
successfully challenged, it could have a material adverse effect on SES’s effective tax rate, business, financial condition and results of operations.

SES is exposed to liquidity, currency and foreign exchange, interest rate and counterparty risks.

SES is exposed to risks in relation to liquidity, foreign currency,