Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 254

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 254
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The Group consolidates a subsidiary where it has: power over the subsidiary; exposure, or rights, to variable returns from that subsidiary; and, the ability to use its power over the subsidiary to affect the amount of the Group’s returns.

| • |     | Al Maisan Satellite Communication LLC (trading as ‘Yahlive’) |

Management has concluded that the Group controls Yahlive even though it holds a 35% economic interest in the company since it has the majority of the voting rights on Yahlive’s Board of Directors and there are no voting rights at the shareholder level which could affect SES’ control. SES has effective control over the relevant activities of Yahlive, such as budget approval, appointment and removal of the Chief Executive Officer and senior management team members as well as over the 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 23).

| • |     | 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 F-18

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, 2023 and December 31, 2022 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 23).

| • |     | 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.

| v | SES Space & Defense, Inc. (‘SES SD’—formerly SES Government Solutions, Inc