Company: SGBAF
Filing Date: 2025-04-23
Form Type: DRS/A
Source: 0000950123-25-003652
Chunk: 163

Company: SES S.A.
Filing Date: 2025-04-23
Form: DRS/A
Chunk 163
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 exchange rate of $1.0389, while the income and expense items of Intelsat Group for the year ended December 31, 2024 were translated at the average EUR/USD exchange rate of the year of $1.0863. The same EUR/USD exchange rates have been applied to convert the pro forma adjustments expressed in U.S. dollars. 108

Confidential Treatment Requested by SES

Pursuant to 17 C.F.R. Section 200.83

These exchange rates may differ from future exchange rates, which would have an impact on
the pro forma financial information, and would also impact the purchase price accounting on the completion of the Acquisition.

The pro
forma financial information does not include all information required for financial statements prepared under IFRS or U.S. GAAP and should be read in conjunction with the historical financial information of the SES Group and the Intelsat Group.

Further, Intelsat Group’s consolidated financial statements have been prepared and presented in accordance with U.S. GAAP, and therefore
it may not be possible to compare the historical financial information of Intelsat Group with the historical financial information of SES Group. Investors are encouraged to review Intelsat Group’s consolidated financial statements as at and for
the year ended December 31, 2024, which is included in this prospectus, in their entirety.

Note 2 – SES Group Consolidated IFRS Financial Information for 2024

This information has been extracted directly from the SES Group consolidated financial statements as at
and for the year ended December 31, 2024 which are included in this prospectus.

109

Confidential Treatment Requested by SES Pursuant to 17 C.F.R. Section 200.83 Note 3 – Intelsat Group – U.S. GAAP to IFRS differences and alignment of presentation to SES Unaudited adjusted Intelsat Group’s income statement For the year ended December 31, 2024

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