Company: SGBAF
Filing Date: 2025-04-23
Form Type: DRS/A
Source: 0000950123-25-003652
Chunk: 50

Company: SES S.A.
Filing Date: 2025-04-23
Form: DRS/A
Chunk 50
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launch and initial in-orbitinsurance, as well as third party liability insurance for its satellites. The insurance policies generally contain customary market exclusions from losses resulting from:

| • |     | military or similar action; |

| • |     | any anti-satellite device; |

| • |     | electromagnetic and radio interference (except for physical damage to a satellite directly resulting from this 
 interference);                                                                                                 |

| • |     | confiscation by any governmental body; |

| • |     | insurrection and similar acts or governmental action to prevent such acts; |

| • |     | nuclear reaction or radiation contamination; |

| • |     | willful or intentional acts by the insured causing the loss or failure of satellites; |

| • |     | terrorism; and |

| • |     | cyber attacks. |

Furthermore, these insurance policies do not provide compensation for business interruption, loss of market share, reputational damage, incidental and consequential damages. In addition, SES’s third-party liability insurance (which covers losses arising from third party bodily injury and property damage caused by, amongst other things, launch failures and satellite collisions) is subject to a single limit of €400 million of coverage for any one occurrence. Losses arising from any of the factors in this paragraph could result in material increases in costs or reductions in expected revenue and profits, either of which could have a material adverse effect on SES’s business, financial condition and results of operations. SES may not be successful in renewing its existing commercial agreements, or in renewing them on terms that are similar to their current terms. SES’s commercial contracts vary in length. Contracts with customers can vary significantly in term. If SES is unsuccessful in obtaining the renewal of its commercial agreements when they come up for renewal or is unable to obtain commercial terms similar to those currently reflected in its agreements, such as due to budget cuts affecting governmental or other customers, revenue could be adversely affected for some time. 35

Confidential Treatment Requested by SES Pursuant to 17 C.F.R. Section 200.83 The inability to renew commercial agreements on terms as favorable as existing agreements could have a material adverse effect on SES’s business, financial condition and results of operations. SES relies on information systems, satellite control and operations networks and other technology, and a disruption or failure of such systems, networks or technology as a result of unauthorized access, misappropriation of data or other malfeasance may disrupt SES’s business. Information systems, satellite control, operations and communication networks and other technologies