Company: SGBAF
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001193125-25-120606
Chunk: 359

Company: SES S.A.
Filing Date: 2025-05-15
Form: 424B3
Chunk 359
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 and conditions on which the stock appreciation rights were granted and recognized to the extent to which the employees have rendered services to date. During 2024, no SRSU have been granted (2023: 1,233,352). During the same period, 282,548 SRSUs have been forfeited (2023: 172,473) and 647,870 SRSU have been vested (2023: 652,648). A liability of EUR 3,525,918 has been recognized in the consolidated statements of financial position as of December 31, 2024 (December 31, 2023: EUR 7,290,615) based on the 1,735,344 outstanding SRSUs (December 31, 2023: 2,665,762 ) measured at the Group’s share price at the end of the year on a pro-ratabasis over 3 years vesting period.

| 3. | Equity Based Compensation Plan comprising options (‘EBCP Option’) |

The EBCP Option is usually available to Group executives. Under the plan, the “date of Option Grant” means the first business day that follows fifteen (15) market trading days for Shares after the Allocation Period during which the Fair Market Value is fixed. For EBCP Option grants till year 2020 inclusive and prior, one-quarterof the entitlement vests on each January 1 of the four years following the Date of Option F-76

Consolidated financial statements as of and for the years ended December 31, 2024, December 31, 2023 and December 31, 2022 Grant. For EBCP Grants from 2021 onwards a 3-yearcliff vesting on June 1 (Y+3) was introduced. One EBCP Grant has an exceptional vesting arrangement whereby one fifth of the entitlement vests on each June 1 of the five years following the Date of Option Grant. There was no stock option issuance in year 2024. Once vested, the options can be exercised until the tenth anniversary of the original grant.

|                                            |     | 2024 |            |     | 2023 |            |     | 2022 |            |
| Outstanding options at the end of the year |     |      | 15,165,029 |     |      | 19,049,997 |     |      | 20,348,470 |
| Weighted average exercise price in