Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 409

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 409
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offices, various facilities, land and equipment, specifically third-party teleport and circuit/dark fiber, third-party capacity and mission extension vehicles. Certain leases include one or more options to renew, with renewal terms that can extend
the lease term from one year to fifteen years. The exercise of lease renewal options is at our sole discretion. Our lease agreements generally do not include options to purchase the leased property. The depreciable life of leasehold improvements is
limited by the expected lease term in the absence of a transfer of title or purchase option reasonably certain of exercise.

F-148

Confidential Treatment Requested by SES Pursuant to 17 C.F.R. Section 200.83 Certain of our lease agreements include rental payments with escalation provisions as defined in the contracts. These escalation provisions are included in the calculation of the present value of the lease payments for purposes of determining the value of the respective ROU asset and lease liability. Our lease agreements do not contain any material residual value guarantees or materially restrictive covenants. We rent, license or sublease certain office space and land to third parties. The following table sets forth supplemental balance sheet information related to ROU assets and lease liabilities (in thousands):

|                         |     |                                                   | Classification |   |        As of 
 December 31, 
         2022 |     |   |        As of 
 December 31, 
         2023 |
|:------------------------|:----|:--------------------------------------------------|:---------------|:--|-------------:|:----|:--|-------------:|
| Assets                  |     |                                                   |                |   |              |     |   |              |
| Operating               |     | Other assets                                      |                | $ |      360,911 |     | $ |      261,809 |
| Finance                 |     | Satellites and other property and equipment,      
 net(1)(2)                                         |                |   |       10,480 |     |   |      570,896 |
| Total leased assets     |     |                                                   |                | $ |      371,391 |     | $ |      832,705 |
| Liabilities             |     |                                                   |                |   |              |     |   |              |
| Current                 |     |                                                   |                |   |              |     |   |              |
| Operating               |     | Other current liabilities                         |                | $ |       36,890 |     | $ |       26,491 |
|