Company: SGBAF
Filing Date: 2025-05-08
Form Type: F-4/A
Source: 0001193125-25-115825
Chunk: 61

Company: SES S.A.
Filing Date: 2025-05-08
Form: F-4/A
Chunk 61
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 could be adversely affected. Coordination issues with other satellite operators arise from time to time, and SES may not always be able to resolve such issues quickly, or at all, which could lead to reputational harm, loss of customers, deterioration of SES’s relationships with other operators, degradation of signal quality resulting from interference from satellites of other operators, operating or design restrictions that make SES’s services in a particular region less competitive or non-economicor limit SES’s ability to fully utilize the capabilities of a particular satellite or satellite system, and, to the extent an issue is not resolved in SES’s favor, potential loss of rights. Such issues also expose SES to the risk of litigation. Any of the factors described in this paragraph could have a material adverse effect on SES’s business, financial condition and results of operations. If SES does not occupy unused orbital locations or satellite orbits by specified deadlines, or does not maintain satellites in the orbital locations SES currently uses, those orbital locations or satellite orbits may become available for use by other satellite companies. Orbital locations, satellite orbits or frequency bands that SES uses or is planning to use may become available for other satellite operators to use if SES does not:

| • |     | occupy unused orbital locations or satellite orbits by specified deadlines; |

| • |     | maintain satellites in their orbital locations or satellite orbits; and/or |

| • |     | operate in all the frequency bands that have been filed at the ITU and for which a license has been received. |

SES has access to orbital locations and satellite orbits that have been filed at the ITU through various national administrations. For each filing, the ITU and the national regulators impose conditions that must be met in order to secure use of the spectrum and SES must determine, based on those conditions, which frequencies it will bring into use and on what schedule. Operational issues like satellite launch failure, construction or launch delay or in-orbitfailure can compromise SES’s access to the spectrum at specific orbital locations and satellite orbits. SES is committed to the highest quality in satellite procurement and launch, which helps to reduce this risk. In addition, SES’s large fleet may permit the relocation of in-orbitsatellites in order to meet the regulatory conditions. However, there is no guarantee that SES will always be able to prevent this risk and the loss of an orbital location could have a material adverse effect on SES’s business, financial condition and results of operations. 43

SES is subject to export control laws including those of the United States which may preclude exporting satellites for launch