Company: SGBAF
Filing Date: 2025-04-01
Form Type: DRS/A
Source: 0000950123-25-003272
Chunk: 187

Company: SES S.A.
Filing Date: 2025-04-01
Form: DRS/A
Chunk 187
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 million in rental of third-party satellite capacity, mainly driven by the DRS GES 
 Acquisition in August 2022 (€56 million);                                                            |

| • |     | an increase of €35 million in customer support such as hosting, monitoring, implementation and 
 engineering work mainly driven by the DRS GES Acquisition in August 2022 (€36 million); and    |

| • |     | an increase of €1 million in other cost of sales. |

Staff costs Staff costs increased by €79 million, or 23.7%, to €409 million for FY 2023, as compared to €330 million for FY 2022. Excluding the effects of foreign currency translation, staff costs increased by €84 million, or 25.8% (FY 2022 at constant FX: €325 million), primarily due to the following:

| • |     | an increase of €40 million in payroll costs (excluding C-Band related personnel costs) primarily due to                 
 the DRS GES Acquisition in August 2022 (€20 million), as well as the 2023 indexation and inflation effects on salaries; |

| • |     | an increase of €17 million in restructuring costs related to the Phased Retirement Programme and the 
 new organizational set up; and                                                                       |

| • |     | an increase of €18 million in C-Band related personnel costs, mainly payroll. |

131

Confidential Treatment Requested by SES Pursuant to 17 C.F.R. Section 200.83 Other operating expenses Other operating expenses increased by €47 million, or 22.7%, to €252 million for FY 2023, as compared to €205 million for FY 2022. Excluding the effects of foreign currency translation, other operating expenses increased by €49 million, or 24.3% (FY 2022 at constant FX: €203 million), primarily due to the following:

| • |     | an increase of €20 million in regulatory costs, mainly driven by DRS GES Acquisition 
 (€18 million), primarily related to USF, ITU and USAC fees;                          |

| • |     | an increase of €8 million in maintenance & software costs, primarily related to MS Azure 
 software;                                                                                |

| • |     | an increase of €5 million in consultancy costs primarily due to the support required for various IT        
 applications that have been put in service as well as additional support for the U.S. Government business; |