Company: SGBAF
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001193125-25-120606
Chunk: 372

Company: SES S.A.
Filing Date: 2025-05-15
Form: 424B3
Chunk 372
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 Group and other consortium members and subcontractors. In the event of an early termination of the Concession Agreement for IRIS², the Group has a contractual commitment to refund the European Commission any residual portion of the EUR 300 million Pre-financingwhich is unused or uncleared against milestones accepted in accordance with the Concession Agreement. Capital expenditure commitments The Group had outstanding commitments in respect of contracted capital expenditure totaling 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 |
|