Company: SGBAF
Filing Date: 2025-04-29
Form Type: F-4
Source: 0001193125-25-103898
Chunk: 365

Company: SES S.A.
Filing Date: 2025-04-29
Form: F-4
Chunk 365
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 over EURIBOR/SOFR. As of December 31, 2024 and 2023, no amount had been drawn under this facility.

European Investment Bank (‘EIB’) Financing Facility EUR 300 million (2029)

On December 16, 2022 SES signed a seven-year contract with the EIB which will support the funding of SES’s three fully digital
satellites serving Western Europe, Africa and the Middle East. The facility is available for disbursement at fixed or floating rates linked to a ratings grid. At the current SES credit rating of BBB/ Baa3 this equates to 0.42% per annum over EURIBOR
(in case of a floating rate) or over a base rate as determined by the EIB (in the case of a fixed rate). As of December 31, 2024 and 2023, no amount had been drawn under this facility.

2016 Deeply Subordinated Fixed Rate Resettable Securities for EUR 550 million (“Perpetual Bond”)

In November 2016 SES issued Deeply Subordinated Fixed Rate Resettable Securities of EUR 550 million at a coupon of 5.625 percent. On
December 4, 2023, the Company issued a ‘Notice of Redemption’ to holders of securities with a call date on January 29, 2024 triggering its reclassification from equity to short-term borrowings as of December 31, 2023.
Consequently, the Bond has now been fully settled.

EUR 115 million LuxGovSat Credit Facility

In 2015 LuxGovSat S.A. signed a financing agreement with BGL BNP Paribas for EUR 115 million at a fixed coupon rate of 3.30%. The facility
is repayable in 14 semi-annual instalments and has a final maturity date of December 1, 2027. As of December 31, 2024, total borrowings of EUR 49 million (2023 EUR 66 million) were outstanding under the fixed term facility and the
Company is in compliance with the covenants specified in the facility.

F-81

Consolidated financial statements as of and for the years ended December 31, 2024, December 31, 2023 and December 31, 2022 European Commercial Paper program In 2012 SES signed the documentation for the inception of a joint EUR 1,000 million guaranteed European commercial paper program of SES S.A. and SES Americom