Company: SGBAF
Filing Date: 2025-04-23
Form Type: DRS/A
Source: 0000950123-25-003652
Chunk: 392

Company: SES S.A.
Filing Date: 2025-04-23
Form: DRS/A
Chunk 392
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F-88

Confidential Treatment Requested by SES Pursuant to 17 C.F.R. Section 200.83 Consolidated financial statements as of and for the years ended December 31, 2024, December 31, 2023 and December 31, 2022 Other commitments The Group’s other commitments include transponder service agreements for the purchase of satellite capacity from third parties under contracts with a maximum life of eight years for EUR 47 million (2023: EUR 24 million), cloud computing service agreements for EUR 59 million (2023: EUR 78 million), as well as EUR 64 million (2023: EUR 67 million) in connection with capital contributions into a Luxembourg space sector fund in connection with the renewal of the agreement with Luxembourg government in respect of SES’s concession to operate satellites under Luxembourg’s jurisdiction.

| € million                                   |     | 2024 |     |     | 2023 |     |
| Within one year                             |     |      | 160 |     |      | 152 |
| After one year but not more than five years |     |      | 130 |     |      | 130 |
| After more than five years                  |     |      |  45 |     |      |  47 |
| Total                                       |     |      | 335 |     |      | 329 |

The total expense recognized for transponder service agreements in 2024 was EUR 158 million (2023: EUR 141 million, 2022: EUR 94 million). Litigation There were no significant litigation claims against the Group as of December 31, 2024, or as of December 31, 2023. Guarantees On December 31, 2024 the Group had outstanding bank guarantees of EUR 39 million (2023: EUR 48 million) with respect to performance and warranty guarantees for services of satellite operations. Note 33—Leases Lessor During 2024 the Group recognized EUR 49 million of leasing income (2023: EUR 22 million, 2022: EUR 6 million) related to customer lease contracts (see Note 4) and EUR 5 million of finance lease income (2023: nil) related to an equipment finance lease contract (see Note 7). Lessee The Group’s right-of-useassets and associated liabilities are measured at the present value of the remaining lease payments,