Company: SGBAF
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001193125-25-120606
Chunk: 366

Company: SES S.A.
Filing Date: 2025-05-15
Form: 424B3
Chunk 366
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 European Investment Bank (‘EIB’) Financing Facility EUR 125 million On December 23, 2024, SES signed a finance contract with the EIB to support the funding of a satellite constellation project. The facility is available for disbursement at fixed or floating rates linked to a ratings grid. At the current SES credit rating of BBB/Baa3, this equates to 0.36% per annum over EURIBOR (in the case of a floating rate) or over a base rate as determined by the EIB (in the case of a fixed rate). Final availability date falls 24 months after the signature of the contract. As of December 31, 2024, no amount has been drawn under this facility. IBOR Reform Regulatory authorities have identified and recommended alternative benchmark rates and best practice to support the transition of IBORs to respective alternatives (e.g. SOFR, €STR, SONIA). These changes have been reviewed and do not have any material impact on the Group’s consolidated financial statements and future funding capabilities. Note 28—Provisions

| € million   |     | 2024 |     |     | 2023 |    |
| Non-current |     |      |   3 |     |      |  3 |
| Current     |     |      | 128 |     |      | 88 |
| Total       |     |      | 131 |     |      | 91 |

Movements in each class of provision during the financial year are set out below:

| € million                        
 Balance as of January 1, 2024    |     | Group tax 
 provision |  59 |   |     | Restructuring 
 provision     |  31 |   |     | Other      
 provisions |  1 |     | Total |  91 |   |
|:---------------------------------|:----|:----------|----:|:--|:----|:--------------|----:|:--|:----|:-----------|---:|:----|:------|----:|:--|
| Additional provisions recognized |     |           |   4 |   |     |               |  63 |   |     |            |  5 |     |       |  72 |   |
| Unused amounts reversed          |     |           |   — |   |     |               |   — |   |     |            |  — |     |       |   — |   |
| Used during