Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 64

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 64
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 SES’s business, financial condition and results of operations. SES is subject to export control laws including those of the United States which may preclude exporting satellites for launch, satellite-related hardware, technology, data and services or preclude sourcing these items in the United States. SES must comply with applicable export control laws and regulations including applicable U.S. and EU export control laws in connection with any information, data, services, products or materials that it provides to, or receives from, companies relating to communications satellites, launch vehicles and associated equipment, customer equipment and data related to each. SES may not be able to maintain normal international business activities or meet customer commitments if:

| • |     | export licenses or approvals cannot be, or are not, obtained or are obtained but later withdrawn due to breach of 
 or changes in policy;                                                                                             |

| • |     | export licenses or approvals are not obtained in a timely manner; |

| • |     | export licenses or approvals do not permit transfer of some or all items requested; |

| • |     | launches with their products or materials are not permitted by certain suppliers or in certain regions; or |

| • |     | the requisite license, when granted, contains conditions or restrictions that pose significant commercial or 
 technical issues.                                                                                            |

42

Confidential Treatment Requested by SES

Pursuant to 17 C.F.R. Section 200.83

Such occurrences could impede construction and delay the launch of any future satellites, or
the delivery of customer services, negatively impacting current or future revenue, which could have a material adverse effect SES’s business, financial condition and results of operations.

Global economic turmoil and regional economic conditions could adversely affect SES’s business.

Global economic turmoil resulting from such events as wars, recession, global pandemics, bank failures, inflation or rising interest rates, may
cause general tightening in the credit markets, lower levels of liquidity, increases in rates of default and bankruptcy, levels of intervention from the European Union and foreign governments, decreased consumer confidence, overall slower economic
activity and extreme volatility in credit, equity and fixed income markets.

A decrease in economic activity in regions of the world in
which SES operate, including in developed and developing countries may have a negative effect on our performance, which could delay the onset of new revenue and could adversely affect demand for our products and services. This situation could be
further worsened by political instability in such countries and their governments’ inability to take timely action to deal with such crisis. Furthermore, financial institution failures may