Company: SGBAF
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001193125-25-120606
Chunk: 306

Company: SES S.A.
Filing Date: 2025-05-15
Form: 424B3
Chunk 306
---
 from customer service agreements for the provision of satellite capacity over contractually agreed
periods, including short-term occasional use capacity, with the associated uplinking and downlinking services as appropriate. Other revenue-generating activities mainly include sale of customer equipment; platform services; subscription revenue;
income received in connection with satellite interim missions; installation and other engineering services and proceeds from the sale of transponders if the revenue recognition criteria for the transaction are met.

Revenue is measured based on the consideration to which the Group expects to be entitled in a contract with a customer and excludes amounts
collected on behalf of third parties. The Group recognizes revenue as and when control of a good or service is transferred to a customer.

F-28

Consolidated financial statements as of and for the years ended December 31, 2024, December 31, 2023 and December 31, 2022 Contract modifications are accounted for either as a separate contract or as part of the existing contract, depending on the nature of the modification. The Group accounts for a modification as a separate contract if:

| • |     | the scope of the contract increases because of the addition of distinct goods or services, and |

| • |     | the price of the contract increases by an amount of consideration that reflects the stand-alone selling prices of 
 the additional goods or services.                                                                                 |

A modification that does not meet the above criteria to be accounted for as a separate contract is accounted for as an adjustment to the existing contract, either prospectively or through a cumulative catch-upadjustment. The determination depends on whether the remaining goods or services to be provided to the customer under the modified contract are distinct from those already provided, in which case the modification results in a prospective adjustment to revenue recognition. For contracts in which the Group sells multiple goods and services, the Group evaluates at contract inception whether the goods and services represent separate performance obligations. The Group offers contracts for the provision of satellite capacity services, sale of equipment and a bundle of satellite capacity services, equipment, and services such as service-type warranties. Revenue is recognized separately for capacity, equipment, and services such as service-type warranties as the goods and services are separately identifiable, and the customer can benefit from the goods or services on their own or with other readily available resources. When they represent separate performance obligations, the Group allocates consideration to the goods and services based on relative standalone selling prices using either an expected cost plus a margin approach or an adjusted market assessment approach. When they do not represent separate performance obligations, the