Company: SGBAF
Filing Date: 2025-04-23
Form Type: DRS/A
Source: 0000950123-25-003652
Chunk: 439

Company: SES S.A.
Filing Date: 2025-04-23
Form: DRS/A
Chunk 439
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 we have the ability to direct the use of and
obtain substantially all of the remaining benefits from the purchased capacity. We obtain the right to the service to be performed by the third party, which gives the Company the ability to direct that party to provide the service to the customer on
the Company’s behalf. No other third party can direct the use of or obtain any benefits from the capacity.

We also considered
the factors in ASC 606-10-55-39 in the Company’s determination of control. In the vast majority of cases, when we resell
capacity to third party customers, we are primarily responsible for the fulfillment of the services and acceptability of the service. Additionally, the Company has full discretion in establishing the pricing for transponder services with the
customer and assumes the credit risk associated with capacity purchased from the third party. In the event the service is not acceptable to the customer, we are required to identify an alternative solution. Based on these considerations,
we have concluded that we are the principal in the transaction for these arrangements. When these factors are not met, the Company recognizes revenue for third-party capacity arrangements on a net basis.

Judgment is required in determining whether we are the principal or the agent in transactions involving third parties.

F-135

Confidential Treatment Requested by SES Pursuant to 17 C.F.R. Section 200.83 Remaining Performance Obligation Our remaining performance obligation is our expected future revenue under existing customer contracts and includes both cancelable and non-cancelablecontracts. Our remaining performance obligation was approximately $4.0 billion as of December 31, 2024. We assess the contract term of our cancelable contracts as the full stated term of the contract assuming each contract is not canceled since the termination penalty upon cancellation is substantive. As of December 31, 2024, the weighted average remaining customer contract life was approximately 2.8 years. Approximately 57%, 25%, and 18% of our total remaining performance obligation as of December 31, 2024 is expected to be recognized as revenue during 2025 and 2026, 2027 and 2028, and 2029 and thereafter, respectively. The amount included in the remaining performance obligation represents the full-service charge for the duration of the contract and does not include termination fees. The amount of the termination fees, which is not included in the remaining performance obligation amount, is generally calculated as a percentage of the remaining performance obligation associated with the contract. In certain cases of breach for non