Company: SGBAF
Filing Date: 2025-04-23
Form Type: DRS/A
Source: 0000950123-25-003652
Chunk: 304

Company: SES S.A.
Filing Date: 2025-04-23
Form: DRS/A
Chunk 304
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 million was completed in October 2024 in respect of Class-A
shares with 24 million A-shares being purchased at an average price of EUR 5.22 per A-share and 12 million B-shares
were purchased at an average price of EUR 2.09 per share The acquired shares will be canceled after the expiry of one year which will reduce the total number of voting and economic shares in issue.

Repurchase of Deeply Subordinated Fixed Rate Resettable Securities

Beginning on November 19, 2024 the Group initiated a programme to repurchase in the open market up to a nominal amount of EUR
100 million of its EUR 625 million Deeply Subordinated Fixed Rate Resettable Securities issued on May 27, 2021. These will be canceled in accordance with the terms and conditions of the Securities. See also Notes 24 and 37.

SpaceRISE signs concession contract to deliver Europe’s IRIS² connectivity network

On December 16, 2024 the SpaceRISE consortium, led by SES, signed a Concession Contract with the European Commission to design, deliver,
and operate the innovative, multi-orbit “Infrastructure for

F-13

Confidential Treatment Requested by SES

Pursuant to 17 C.F.R. Section 200.83

Consolidated financial statements

as of and for the years ended December 31, 2024, December 31, 2023 and December 31, 2022

Resilience, Interconnectivity and Security by Satellite” (“IRIS”) sovereign connectivity system for a period of 12 years, with
the network expected to provide services from the beginning of 2030. This will be the European Union’s (EU) preferred and trusted network to provide reliable, secure, and cost-effective communication solutions for governmental institutions,
commercial organizations, and European citizens.

SES’s contribution to IRIS
will be to develop, procure, and operate 18 new MEO satellites providing 100% pole-to-pole coverage with carrier-grade connectivity solutions. SES expects to have rights
to commercialise the MEO capacity and part of the LEO capacity of the IRIS system. The compelling combination of high throughput data rates, low latency, service flexibility, and managed
solutions will cater to EU’s sophisticated requirements, as well as allied nations and SES’s customers around the world. See also Notes, 23, 29 and 32.

Note 2—Summary of material accounting policies

Basis of