Company: SGBAF
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001193125-25-120606
Chunk: 356

Company: SES S.A.
Filing Date: 2025-05-15
Form: 424B3
Chunk 356
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 99.304% of their nominal value. Tender premium and transaction costs for this transaction amounted to EUR 8 million and were deducted from “Other reserves”. On December 4, 2023 the Company issued a notice of redemption to holders of its EUR 550 million Deeply Subordinated Fixed Rate Resettable Securities with a call date on January 29, 2024, on which date the Company fully settled those securities. F-73

Consolidated financial statements

as of and for the years ended December 31, 2024, December 31, 2023 and December 31, 2022

EUR 625 million Deeply Subordinated Fixed Rate Resettable Securities

In May 2021 SES issued Deeply Subordinated Fixed Rate Resettable Securities for an amount of EUR 625 million, with a first call date on
August 27, 2026. The securities bear a coupon of 2.875% per annum and were priced at 99.409% of their nominal value. Tender premium and transaction costs for this transaction amounted to EUR 26 million and were deducted from “Other
reserves”.

Coupon payments in respect of the Deeply Subordinated Fixed Rate Resettable Securities occurred on January 30, 2024
(EUR 31 million), August 30, 2024 (EUR 18 million) and have been deducted from ‘Other reserves’. The corresponding payments in 2023 were on January 30, 2023 (EUR 31 million), August 28, 2023 (EUR 18 million) and
have been deducted from ‘Other reserves’. The corresponding payments in 2022 were on January 31, 2022 (EUR 31 million), August 29, 2022 (EUR 18 million) and were also deducted from ‘Other reserves’. Tax on the
Perpetual Bonds coupon accrual of EUR 6 million (2023: EUR 14 million, 2022: EUR 14 million) has been credited to ‘Other reserves’.

In 2024 the Group repurchased in the open market an aggregate amount of EUR 37 million in principal amount of its EUR 625 million
Deeply Subordinated Fixed Rate Resettable Securities issued on May 27, 2021. The Group’s cash outflow in respect to the repurchase amounted to EUR 35 million and the repurchase resulted in EUR 2 million gain being recorded in
‘Other reserves’. In accordance with the terms and conditions of the