Company: SGBAF
Filing Date: 2025-04-01
Form Type: DRS/A
Source: 0000950123-25-003272
Chunk: 291

Company: SES S.A.
Filing Date: 2025-04-01
Form: DRS/A
Chunk 291
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 appointment or removal of the majority of the members of the Board of Directors. The entity is therefore consolidated with a 65% non-controllinginterest (see Note 25).

| • |     | LuxGovSat S.A. (‘LuxGovSat’) |

SES and the Luxembourg government jointly incorporated LuxGovSat subscribing equally in the equity of the company. Management has concluded that the Group controls LuxGovSat since it has effective control over the relevant activities of the entity. Also, the Directors of the LuxGovSat appoint the senior management of the company and the Board is controlled by SES since, although both SES and the Luxembourg state have four directors each, SES appoints the Chairman who has a casting vote. It is therefore consolidated with a 50% non-controllinginterest (see Note 25).

| • |     | West Africa Platform Services Ltd, Ghana (‘WAPS’) |

Management has concluded that the Group controls WAPS even though it holds a 49% economic interest in the company since it has the majority of the voting rights on the company’s board of directors and there are no voting rights at the shareholder level which could affect SES’ control. Through control over the selection of key management positions and oversight of the company’s day-to-dayoperations, the Company has the requisite powers to control and consolidate the company with a 51% non-controllinginterest. Note that the Company disposed of its interest in WAPS during the fourth quarter of 2024. F-20

Confidential Treatment Requested by SES Pursuant to 17 C.F.R. Section 200.83 Consolidated financial statements as of and for the years ended December 31, 2024, December 31, 2023 and December 31, 2022

| • |     | Luxembourg Space Sector Development SCSp |

Management has concluded that the Group controls this entity since whilst SES and the Government of Luxembourg have equal voting rights in the fund’s Investor Committee, and hence jointly set the investment policy and approve investments, an SES affiliate, in its capacity as fund manager, oversees all day-to-daymanagement and investment aspects of the fund and retains the decision-making power with regard to any decision not specifically attributed to the Investor Committee.

| iv. | SES Space and Defense, Inc. (‘SES SD’—formerly SES Government Solutions, Inc.) |

SES SD and its 100% subsidiary Global Enterprise Solutions Inc. acquired on August 1, 2022, are subject to specific governance rules and are managed through a Proxy Agreement agreed