Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 61

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 61
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, uses radio spectrum, offers satellite services and/or capacity. Regulation and legislation are extensive and outside SES’s direct control.
New or modified rules, regulations, legislation or decisions by a relevant governmental, inter-governmental entity or the International Telecommunication Union (“ITU”) could materially and adversely affect operations.

In particular, the operations of SES’s existing satellites are authorized by, among others, the Grand Duchy of Luxembourg (Luxembourg),
the U.S., the Netherlands, Germany, France, the United Kingdom, Gibraltar, the Bailiwick of Jersey (Jersey), Mexico, Canada, Sweden, Bermuda, the Andean Community and Brazil, and therefore subject to the regulatory authority of those jurisdictions.
Although SES believes that it is substantially in compliance with regulatory requirements in these countries and the countries in which it operates and offers satellite capacity and services, there can be no assurance that SES will maintain the
authorizations necessary to operate its existing satellites or obtain required authorizations in the future, which would affect future prospects.

In addition, SES’s operations are subject to various laws and regulations relating to sustainability. SES, as an owner or operator of
property and in connection with current and historical operations at some of its sites, could incur significant costs, including clean-up costs, fines, sanctions and third-party claims, as a result of
violations of or liabilities under sustainability laws and regulations, including Corporate Sustainability Due Diligence Directive, Directive 2006/114/EC concerning misleading and Comparative Advertising (Greenwashing) and the Corporate
Sustainability Reporting Directive laws. SES believes that its operations are in compliance with sustainability laws and regulations.

40

Confidential Treatment Requested by SES

Pursuant to 17 C.F.R. Section 200.83

Furthermore, SES may in the future become subject to laws and regulations of which it is not
presently aware. If SES fails to comply with all applicable laws and regulations, it could lose revenue from services provided to the countries covered by those laws and regulations and subject SES to criminal or civil penalties.

Failure to obtain or maintain the required authorizations described in this paragraph could have a material adverse effect on SES’s
business, financial condition and results of operations.

The ITU or national administrations may not allocate orbital slots and associated frequencies to permit SES to maintain or augment its satellite systems, or may restrict SES’s access to frequencies on its satellite systems.

SES needs access to orbital slots and associated frequencies to permit it to maintain or grow its satellite system and service offerings.

The ITU establishes radio regulations