Company: SGBAF
Filing Date: 2025-04-29
Form Type: F-4
Source: 0001193125-25-103898
Chunk: 373

Company: SES S.A.
Filing Date: 2025-04-29
Form: F-4
Chunk 373
---
 EUR 281 million as of December 31, 2024 (2023: EUR 376 million). These commitments largely reflect the procurement of satellites and satellite launchers and are stated net of liabilities under these programs which are already disclosed under “Fixed assets suppliers”, see Note 31. The commitments as of December 31, 2024 also include EUR 64 million (2023: EUR 67 million) in connection with the renewal of the agreement with Luxembourg government in respect of SES’s concession to operate satellites under Luxembourg’s jurisdiction. The capital expenditure commitments arising under these agreements as of December 31 are as follows:

| € million                                   |     | 2024 |     |     | 2023 |     |
| Within one year                             |     |      |  96 |     |      | 258 |
| After one year but not more than five years |     |      | 143 |     |      |  72 |
| After more than five years                  |     |      |  42 |     |      |  46 |
| Total                                       |     |      | 281 |     |      | 376 |

F-88

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