Company: SGBAF
Filing Date: 2025-04-23
Form Type: DRS/A
Source: 0000950123-25-003652
Chunk: 240

Company: SES S.A.
Filing Date: 2025-04-23
Form: DRS/A
Chunk 240
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 17 C.F.R. Section 200.83

| • |     | an increase of $28.2 million related to interest costs on financing leases primarily resulting from leases that 
 commenced during the second half of 2023; and                                                                   |

| • |     | an increase of $15.2 million related to lower capitalized interest resulting from a decreased number of 
 satellites and related assets under construction.                                                       |

The non-cashportion of total interest expense was $80.5 million and $68.1 million for the years ended December 31, 2023 and 2024, respectively, primarily consisting of interest expense related to the significant financing component identified in customer contracts. Interest Income Interest income decreased by $172.7 million, or 72%, to $67.1 million for the year ended December 31, 2024, as compared to $239.8 million for the year ended December 31, 2023, primarily due to the following:

| • |     | a decrease of $208.8 million related to the 2023 accretion of interest income associated with                        
 Intelsat’s expected receipt of ARPs under the FCC Final Order, with no similar activity in 2024; partially offset by |

| • |     | an increase of $33.9 million primarily due to higher invested funds and higher interest rates. |

Other Income (Expense), Net Other expense, net increased by $6.4 million to other income, net of $5.4 million for the year ended December 31, 2024, as compared to other expense, net of $1.0 million for the year ended December 31, 2023, primarily due to the following:

| • |     | an increase of $9.6 million due to expense recognized for the year ended December 31, 2023 related to                       
 the change in the fair value of contingent value rights, with no similar activity for the year ended December 31, 2024; and |

| • |     | an increase of $3.3 million due to higher income generated from Intelsat’s joint ventures (see Note                                                         
 6—Investments of the Intelsat audited financial statements for the year ended December 31, 2024 included elsewhere in this prospectus); partially offset by |

| • |     | a decrease of $5.7 million due to foreign currency losses in 2024 as compared to gains in 2023; and |

|