Company: SGBAF
Filing Date: 2025-04-01
Form Type: DRS/A
Source: 0000950123-25-003272
Chunk: 216

Company: SES S.A.
Filing Date: 2025-04-01
Form: DRS/A
Chunk 216
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 to the following:

| • |     | a decrease of $201.1 million in interest expense on notes payable primarily resulting from the full 
 repayment of the 2029 Term Loans in October 2023; and                                               |

| • |     | a decrease of $12.5 million in interest expense related to the significant financing component identified in 
 customer contracts due to lower contract balances; partially offset by                                       |

157

Confidential Treatment Requested by SES Pursuant to 17 C.F.R. Section 200.83

| • |     | an increase of $28.2 million related to interest costs on financing leases primarily resulting from leases that 
 commenced during the second half of 2023; and                                                                   |

| • |     | an increase of $15.2 million related to lower capitalized interest resulting from a decreased number of 
 satellites and related assets under construction.                                                       |

The non-cashportion of total interest expense was $80.5 million and $68.1 million for the years ended December 31, 2023 and 2024, respectively, primarily consisting of interest expense related to the significant financing component identified in customer contracts. Interest Income Interest income decreased by $172.7 million, or 72%, to $67.1 million for the year ended December 31, 2024, as compared to $239.8 million for the year ended December 31, 2023, primarily due to the following:

| • |     | a decrease of $208.8 million related to the 2023 accretion of interest income associated with                        
 Intelsat’s expected receipt of ARPs under the FCC Final Order, with no similar activity in 2024; partially offset by |

| • |     | an increase of $33.9 million primarily due to higher invested funds and higher interest rates. |

Other Income (Expense), Net Other expense, net increased by $6.4 million to other income, net of $5.4 million for the year ended December 31, 2024, as compared to other expense, net of $1.0 million for the year ended December 31, 2023, primarily due to the following:

| • |     | an increase of $9.6 million due to expense recognized for the year ended December 31, 2023 related to                       
 the change in the fair value of contingent value rights, with no similar activity for the year ended December 31, 2024; and |

| • |