Company: SGBAF
Filing Date: 2025-04-29
Form Type: F-4
Source: 0001193125-25-103898
Chunk: 178

Company: SES S.A.
Filing Date: 2025-04-29
Form: F-4
Chunk 178
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 includes forward-looking statements that involve risks and uncertainties. As a result of many factors, including those factors set forth in the “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements” sections of this prospectus, SES’s actual results could differ materially from the results described in or implied by the forward-looking statements contained in the following discussion and analysis.

For the purposes of the following discussion and analysis of SES’s financial condition and results of operations, references to SES are to SES and its subsidiaries.

COMPANY OVERVIEW

This overview section generally discusses our operating results as of December 31, 2024, unless otherwise noted.

SES has a vision to deliver amazing experiences everywhere on earth by distributing the highest-quality video content and providing seamless
connectivity around the world. SES operates more than 70 satellites in two different orbits—in Geostationary Orbits (“GEO”) and in Medium Earth Orbits (“MEO”)—covering over 99% of the earth and delivering a combination
of high data rates, low latency, service reliability, and flexibility with the aim to meet its customers’ requirements worldwide.

SES’s business supports a range of applications, including the transmission of direct-to-home (“DTH”) television broadcasts, a high-value application with persistent characteristics. SES also provides connectivity and cloud services, including very small aperture terminal
networks (“VSAT”), broadband internet access, and mobile backhaul, to enterprises, institutions and governments.

Recent Developments

On December 16, 2024, the SpaceRISE consortium, led by SES, has signed the Concession Contract with the European Commission to
design, deliver, and operate the innovative, multi-orbit IRIS sovereign connectivity system: Infrastructure for Resilience, Interconnectivity and Security by Satellite (“IRIS²”);
for a period of 12 years, with the network expected to provide services from the beginning of 2030.

IRIS is expected to play a transformative role in reinforcing Europe’s resilience, digital sovereignty, and low-latency connectivity for all EU Member States
and is intended to enhance Europe’s ability to respond to crises, protect essential infrastructure, and bridge the digital divide.

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 will have rights to commercialize the MEO capacity and part of the LEO capacity of the IRIS system.
The compelling combination of high-throughput data