Company: SGBAF
Filing Date: 2025-04-23
Form Type: DRS/A
Source: 0000950123-25-003652
Chunk: 7

Company: SES S.A.
Filing Date: 2025-04-23
Form: DRS/A
Chunk 7
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, see the section of this prospectus entitled “ Unaudited Pro Forma Condensed Combined Financial Information” beginning on page 103. Unless indicated otherwise, financial data presented in this prospectus has been taken from the audited consolidated financial statements of SES and Intelsat. IFRS Unless otherwise stated, SES’s financial information in this prospectus has been prepared in accordance with IFRS as issued by the IASB. Presentation of financial information in accordance with IFRS requires SES management to make various estimates and assumptions which may impact the values shown in the historical financial information and the respective notes thereto. The actual values may differ from such assumptions. 2

Confidential Treatment Requested by SES

Pursuant to 17 C.F.R. Section 200.83

Non-IFRSFinancial Measures

This prospectus contains certain SES unaudited financial and operating measures that are not defined or recognized under IFRS that we use to
assess the performance of our business. Explanations of these measures are set out below. For example, in this prospectus, SES presents non-IFRS financial measures such as Adjusted EBITDA, Adjusted EBITDA
margin, Adjusted Net Debt, Adjusted Net Debt to Adjusted EBITDA ratio, Adjusted Net Profit, Adjusted Earnings per Share, Adjusted Free Cash Flow and Constant FX, which we use to, among other things, evaluate the performance of our operations,
develop budgets, and measure our performance against those budgets. As there are no generally accepted accounting principles governing the calculation of non-IFRS financial and operating measures, other
companies may calculate such measures differently or may use such measures for different purposes than we do, and such measures should therefore not be used to compare us against another company.

Pro Forma Non-IFRS Financial Measures

This prospectus contains certain SES unaudited pro forma financial and operating measures that are not defined or recognized under IFRS that we
use to assess the performance of our business. Explanations of these measures are set out below. For example, in this prospectus, SES presents pro forma non-IFRS financial measures such as pro forma net debt, pro forma Adjusted EBITDA, pro forma
Adjusted EBITDA margin, pro forma operating profit and operating profit margin, pro forma Adjusted Net Debt, pro forma Adjusted Net Debt to Adjusted EBITDA ratio, which we use to, among other things, evaluate the performance of our