Company: SGBAF
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001193125-25-120606
Chunk: 358

Company: SES S.A.
Filing Date: 2025-05-15
Form: 424B3
Chunk 358
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1 | ) |     |      |  — |   |
| Net increase/(decrease) in cash and cash equivalents |     |           |   — |   |     |      |   — |   |     |      |   — |   |     |                     |  — |   |     |      |  (8 | ) |     |      | (1 | ) |

Note 26—Share-based compensation plans The Group has four share-based compensation plans which are detailed below. In the case of the Stock Appreciation Rights Plan and Equity Incentive Compensation Plan the relevant strike price is defined as the average of the market price of the underlying shares over a period of 15 trading days before the date of the grant. F-75

Consolidated financial statements as of and for the years ended December 31, 2024, December 31, 2023 and December 31, 2022

| 1. | The Stock Appreciation Rights Plan (‘STAR Plan’) |

The STAR Plan is an equity-settled plan available to non-executivestaff of Group subsidiaries, where share options are granted. A third of the share options vest and can be exercised each year. After being fully vested, the share options have a four-year exercise period. There were no outstanding options as of December 31, 2024 (2023: nil, 2022: 372,942). No options were exercised in 2024, 2023 or in 2022.

|                                            |     | 2024 |   |     | 2023 |   |     | 2022 |         |
| Outstanding options at the end of the year |     |      | — |     |      | — |     |      | 372,942 |
| Weighted average exercise price in euro    |     |      | — |     |      | — |     |      |   24.37 |

Movements in the number of share options outstanding and their related weighted average exercise prices in euro are as follows:

|                   |     | 2024           
 Average        
 exercise price 
 per share      
 option         |   |     | Number of 
 options   |   |     | 2023           
 Average        
 exercise price 
 per share      
 option         |       |     | Number of 
 options   |          |   |     | 2022           
 Average        
 exercise price 
 per share      
 option         |       |     | Number of 
 options