Company: SGBAF
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001193125-25-120606
Chunk: 422

Company: SES S.A.
Filing Date: 2025-05-15
Form: 424B3
Chunk 422
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 ended February 28, 2022, ten months ended December 31, 2022, year ended December 31, 2023, and year ended December 31, 2024, respectively. Our ten largest customers for each period accounted for approximately 42% , 40%, 35% and 33% of our revenue during the two months ended February 28, 2022, ten months ended December 31, 2022, year ended December 31, 2023, and year ended December 31, 2024, respectively. Note 5—Satellites and Other Property and Equipment (a) Satellites and Other Property and Equipment, net Satellites and other property and equipment, net were composed of the following (in thousands):

|                                        |     |   | As of December 31, 
            2023(1) |   |     |   | As of December 31, 
               2024 |   |
|:---------------------------------------|:----|:--|-------------------:|:--|:----|:--|-------------------:|:--|
| Satellites and launch vehicles         |     | $ |          4,075,888 |   |     | $ |          4,074,445 |   |
| Information systems and ground segment |     |   |            762,622 |   |     |   |            910,534 |   |
| Finance lease assets                   |     |   |            589,404 |   |     |   |            588,227 |   |
| Buildings and other                    |     |   |            319,688 |   |     |   |            331,043 |   |
| Total cost                             |     |   |          5,747,602 |   |     |   |          5,904,249 |   |
| Less: accumulated depreciation         |     |   |           (971,440 | ) |     |   |         (1,439,892 | ) |
| Total                                  |     | $ |          4,776,162 |   |     | $ |          4,464,357 |   |

F-137

| (1) | Certain prior period amounts have been reclassified to conform with the current period presentation. The 
 reclassification had no impact on the balance sheet.                                                     |

Satellites and other property and equipment are stated at historical cost, except for satellites that