Company: SGBAF
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001193125-25-120606
Chunk: 3

Company: SES S.A.
Filing Date: 2025-05-15
Form: 424B3
Chunk 3
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, which forms part of a registration statement on Form F-4 filed with the SEC by SES,
constitutes a prospectus of SES under Section 5 of the U.S. Securities Act of 1933, as amended (the “Securities Act”), with respect to SES’s CVRs issuable to Intelsat’s shareholders (including holders of Intelsat’s
vested RSUs and PSUs) as part of the consideration for the Acquisition. The accompanying disclosure documents contain detailed information about the Acquisition and the CVRs.

All information contained in this prospectus relating to SES has been supplied by SES, and all information relating to Intelsat has been
supplied by Intelsat. SES and Intelsat have both contributed to the information relating to the Acquisition, including the transactions contemplated thereby. Information provided by one entity does not constitute any representation, estimate or
projection of the other entity. Additionally, information and statements contained in this prospectus, or any Annex hereto are qualified in all respects by reference to the copy of the relevant agreement or Annex filed as an exhibit hereto.

You should rely only on the information contained in this prospectus, including the Annexes hereto. SES and Intelsat have not authorized
anyone to provide you with information that is different from that contained in this prospectus. This prospectus is made as of its date, and you should not assume that the information contained in this prospectus is accurate as of any date other
than such date unless otherwise specifically provided herein. Changes to the information contained in this prospectus may occur after that date, and we undertake no obligation to update the information, except as required by law.

This prospectus does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, in any jurisdiction to or from any person to whom it is unlawful to make any such offer or solicitation in such jurisdiction.

1

PRESENTATION OF FINANCIAL AND OTHER INFORMATION This prospectus contains the following:

| (1) | The consolidated financial statements of SES S.A. and its subsidiaries (the “SES Group”) as of                                                                                                                                           
 December 31, 2024 and 2023 and for each of the three years ended December 31, 2024, prepared in accordance with IFRS Accounting Standards as issued by the International Accounting Standards Board (IASB) (the “IFRS”).                 
 Additionally, the prospectus contains non-IFRS measures of the SES Group that are not required by