Company: SGBAF
Filing Date: 2025-04-23
Form Type: DRS/A
Source: 0000950123-25-003652
Chunk: 198

Company: SES S.A.
Filing Date: 2025-04-23
Form: DRS/A
Chunk 198
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 weighted average number of shares out of the total shares.                                  |

143

Confidential Treatment Requested by SES Pursuant to 17 C.F.R. Section 200.83 The weighted average number of shares, net of own shares held, and adjusted to reflect the relative economic rights of the Class A shares and Class B shares for calculating Adjusted Earnings per Share are unchanged from the numbers of shares applied in the calculation of basic earnings per share:

|                                    |     | 2024 |       |     | 2023 |       |
| Class A shares (in million)        |     |      | 351.7 |     |      | 364.8 |
| Class B shares (in million)        |     |      | 182.3 |     |      | 185.7 |
| Total                              |     |      | 534.0 |     |      | 550.5 |
| Adjusted Earnings per share (in €) |     | 2024 |       |     | 2023 |       |
| Class A shares                     |     |      |  0.26 |     |      |  0.41 |
| Class B shares                     |     |      |  0.10 |     |      |  0.16 |

| 5. | Adjusted Free Cash Flow |

Adjusted Free Cash Flow is defined as net cash generated by operating activities adjusted for the net cash absorbed by investing activities, the coupon paid on the Perpetual Bonds, interest paid on borrowings and lease payments, excluding the effect of cash flows generated by IRIS 2related payable, C-bandcash flows, and payments in respect of other non-recurringitems. SES believes that Adjusted Free Cash Flow is useful to investors in giving an indication of the underlying cash generative capacities of the business. Adjusted Free Cash Flow for FY 2024 was a net inflow of €253 million, compared to the net inflow of €431 million for FY 2023. The main components of the decrease were lower net cash generated by operating activities and higher year-on-year investing activities, partly offset by higher cash interest received. The following table reconciles Adjusted Free Cash Flow to the relevant line items on the consolidated statement of cash flows from which it is derived:

| €million                                                           |     | 2024 |       |   |     | 2023 |       |   |
| Net cash generated by operating activities                         |     |      |