#1INVESTOR PRESENTATION SES⭑ MAY 2019#2Contents 1) Executive Summary and Business Overview 2) 2018 Results and Q1 2019 Highlights ▲ Page 3-4 ▲ Page 5-6 3) Outlook and Strategic Priorities 4) Video 5) Networks 6) U.S. C-band Initiative 7) Conclusion 8) Q1 2019 Results 9) Disclaimer and IR Contact ▲ Page 7-9 ▲ Page 10-12 ▲ Page 13-17 ▲ Page 18 ▲ Page 19 ▲ Page 20-28 ▲ Page 29-30 Investor presentation | May 2019 SES 2#3Executive Summary SES Strong business execution, delivering on all aspects of the 2018 financial outlook; focus on execution paramount in 2019 Balanced portfolio of high-growing Networks and sustained, highly profitable Video business through 2020 and ahead of the launch of our next generation network - O3b mPOWER Transforming the organisation inside and out to deliver exceptional customer experience Strong focus on cash flow, costs and leverage Strongly positioned to repurpose C-band, protect customers and neighbourhoods and deliver win-win market-based solution for 5G in the U.S. Investor presentation | May 2019 3#4SES World's Leading Satellite-enabled Solutions Provider 99% coverage of the world 99.999% service reliability Video EUR 1.3BN revenue EUR 2BN annual revenue EUR 1.26BN annual EBITDA EUR 7BN contract backlog <3.3x net debt / EBITDA Large, profitable and resilient business - enabling broadcasters and content owners to deliver the best viewer experience to any device, anywhere 355 million TV homes served by the SES network 500 TV channels fully managed playout >120 VOD platforms supported Networks EUR 0.7BN revenue EUR 7BN market cap. EUR 12BN enterprise value Growth engine for the SES business – integrating satellite-based networks into the mainstream global communications ecosystem 15 U.S. government agencies and 50 customers MEF CE 2.0 telco-grade certification ~1 billion people ☑ receiving video content >8,200 total 18 >8,400 hours TV channels of streaming video >560 hours 业 Up to 1 GB/s anywhere, anytime ~3,000 HD/UHD TV channels sports & live events >35 airlines served with partners ~60 government clients served globally >300 customers telco, MNO and cloud 4 of the top 5 Global cruise lines 120 milliseconds low latency connectivity Market-leader in Video and Networks | History of driving innovation | Focus on ROIC and FCF Investor presentation | May 2019 4#5Delivered on 2018 Financial Outlook EUR million Group revenue (as reported) At EUR/USD FX rate of EUR 1 = USD 1.15 Video (as reported) At EUR/USD FX rate of EUR 1 = USD 1.15 Networks (as reported) 2,045 1,306.3 1,324 695.7 2018 Actual 2,010.3 2018 Outlook 1,958 - 2,002 1,990 - 2,035 1,303 1,318 1,320-1,335 645-674 660-690 Over 1,252 Over 1,270 - At EUR/USD FX rate of EUR 1 = USD 1.15 713 Group EBITDA (as reported) 1,255.5 At EUR/USD FX rate of EUR 1 = USD 1.15 1,276 Net debt / EBITDA 3.29x Below 3.3x SES Guidance delivered or exceeded across Video, Networks and Total Revenue, EBITDA, Leverage and Cash Flow Investor presentation | May 2019 5#6Q1 2019 Highlights Q1 2019 results in line with expectations and on track to deliver FY 2019 Revenue EUR 480.6 million (underlying -3.1% (1) with Video tracking expectations) Sustained growth in Networks (+5.4% YOY) building on double-digit growth in 2018 Latest 03b satellites in service early Q3, paving the way for O3b mPOWER Focus on reshaping organisation around customers yielding results Flattening layers, common approach to Technology and Global Services ▲ Bringing together video infrastructure and services, to be completed by Q3 2019 Market-based C-band initiative progressing Ready to implement plan for clearing mid-band spectrum on FCC Report & Order Rapid deployment of 5G across the Continental U.S. while protecting essential services SES Credit: Arianespace SES 1) Comparative figures are restated at constant FX to neutralise currency variations. Underlying revenue excludes periodic revenue and other (disclosed separately) that are not directly related to or would distort the underlying business trends Investor presentation | May 2019 60#7Our Evolving Business - Balanced Portfolio of Stability and Growth Revenue and EBITDA (1) EUR million 2,045 35% of revenue 2,060 - 2,160 >40% of revenue SES 65% of revenue FY 2018 Networks ▲ Strong growth engine for the SES business Satellite becoming more mainstream in data networks Video Large, profitable and resilient neighbourhoods Complementing large audience reach with value-added services Group EBITDA EUR 1,276 million ▲ Retooling organisation in support strong growth in end-to-end services ▲ Trimming resources to maximise operational efficiency <60% of revenue FY 2020 EUR 1,260 - 1,340 million 1) Financial outlook assumes EUR/USD FX rate of EUR 1 = USD 1.15, nominal launch schedule and satellite health status. Group revenue includes 'other' revenue of EUR 8 million in 2018 and approximately EUR 10 million in 2020 Investor presentation | May 2019 7#8Our Strategic Priorities MOVING IMAGES THAT MOVE THE WORLD Video Reinforce and drive value through our core video neighbourhoods Develop OTT and orchestration capabilities to support our content provider customers reach new markets and audiences Take advantage of opportunities to maximise efficiency and create value SES CHANGING LIVES BY CONNECTING PEOPLE Networks ▲ Leverage our market leading position in delivering unique high throughput, low latency GEO-MEO solutions, driving business growth Enable cloud adoption on a global scale, through partners and customers Harness emerging trends and technologies such as 5G, Industrial IoT, Analytics and Cloud to integrate fully within broader Network ecosystem. Making satellite mainstream Investor presentation | May 2019 8#9Leading the Transformation in a Rapidly Evolving Market SES Video | Industry Trends A Broadcasters/platform operators facing accelerated disruption Number of linear TV channels reducing in mature markets A Increased competition for new platforms in international markets Satellite remains essential for mass market/premium content SES | Video Strongest DTH neighbourhoods in mature markets ▲ Expanding platforms in Asia, Latin America and Eastern Europe Trusted partner to world's leading broadcasters/content owners Increasing customers' reach with OTT distribution capabilities Delivering customer success in core markets Networks | Industry Trends A Demand for connectivity growing exponentially around the globe Cloud and mobile applications expanding across all verticals A Economics of traditional satellite assets challenged Scale and Performance of traditional satellite assets limits relevance SES | Networks Unique high-throughput, low-latency solutions on a global scale Long-term partnerships with major government/commercial clients Seamless integration of satellite into Telco/Cloud ecosystem Segment specific solutions optimising end customer experience Transforming delivery of data networks over satellite Investor presentation | May 2019 9#10Large, Highly Profitable and Resilient Video Business 8,290 355 million 40 GROUP sky TV channels RTL TV homes DTH platforms EUR 5 billion contract backlog KAI CANAL+ ARD® 2DF M7 VIASAT Group dish VIACOM Discovery COMMUNICATIONS- NBC CBSO dishtoi Kiwisat FOX CANAL+ digital TV StarSat VIDEO DISTRIBUTION (75% of Video 2018 revenue) Europe (~50%): leading video neighbourhoods in Germany, U.K., France and the Nordics; delivering customers' content to 167 million households North America (~10%): mix between long-term lease agreement and direct-to-cable; serving as a key distribution network for 75 million households International (~15%): delivering content across Asia-Pacific, Latin America, Africa and the Middle East to 108 million households -15% -10% ~50% EUR 1.3BN (2018 revenue) -15% -10% SES 10 YEARS typical contract length airtel DISNEY Premier CHANNEL League S VIDEO SERVICES (25% of Video 2018 revenue) MX1 (~15%): supporting the world's leading media businesses with a full range of content aggregation, management, playout, online video and content distribution services HD+ (~10%): platform for broadcasters in Germany to deliver HD and UHD content to over 2 million paying subscribers World's strongest video neighbourhoods, with access to over 1 billion people Trusted partner to the world's leading broadcasters, platform operators and content owners Increasing engagement with customers by offering unified linear and OTT distribution capabilities Investor presentation | May 2019 10#11Delivered Important Successes for Our Customers in 2018 - Video SES ACCESSING VAST AUDIENCE REACH Important long-term renewals signed ad ess our core video neighbourhoods, relying on highest quality TV distribution DELIVERING CONTENT TO NEW AUDIENCES Direct-to-Home platform established and then expanded providing a broad range of premium content to the Caribbean CAPTIVATING AUDIENCES Delivering new bouquet of high quality content to consumers across Serbia, Croatia, Bosnia, Slovenia and Montenegro VǝCOMP Kiwisat elekom Srbija BEYOND HIGH DEFINITION MX1's playout solutions enabled sports fans to enjoy this year's FIFA World Cup in the highest quality BEYOND BREAKING NEWS MX1 360 delivering live content everywhere for Agence-France Presse as it happens DELIVERING HIGH QUALITY LIVE SPORTS New Ultra HD channel launched on our HD+ platform bringing exclusive live coverage of the 2018 Formula 1TM season CANAL DIGITAAL Investor presentation | May 2019 AFP RTL UHD 11#12Video Market Dynamics Number of TV channels (1) SES Transponder demand(2) 600 !!!!! 9,000 Europe 6,000 400 ~50% of total Video 3,000 200 0 2017 2018 2019 2020 SD HD UHD 2022 2017 2018 2019 0 2020 2022 12,000 600 9,000 North America 400 ~10% 6,000 of total Video 3,000 200 2017 2018 2019 2020 2022 2017 2018 2019 2020 2022 0 0 !!!! ■SD HD UHD Key drivers ▲ Adding premium/live content in higher quality (HD/UHD) offsetting SD switch-off ▲ Reach in Western Europe expected to remain stable, with slight growth in Eastern Europe (3) Less SD channels ▲ Remains the 'backbone' of the cable distribution network in North America ▲ Slight reduction in reach expected (3) 30,000 3,000 24,000 International 2,000 18,000 -15% 12,000 of total Video 1,000 6,000 0 2017 2018 2019 2020 2022 2017 2018 2019 2020 2022 0 ■SD HD UHD 1) Eurodata 2017 2) Source: NSR (C-band and Ku-band 36 MHz TPE demand) 3) Ampere 2018 estimates for 2022 (satellite TV homes) Investor presentation | May 2019 ▲ FTA and pay-tv platform expansion plus HD adoption, partly offset by compression ▲ Competitive trading environment ▲ Strong growth in reach expected (3) 12#13SES Expanding Networks Business Is The Growth Engine For SES >10% CAGR revenue (2017-2020) Unique GEO-MEO and terrestrial network MEF CE 2.0 telco-grade certification EUR 2 billion KAI 3-5 YEARS typical contract length contract backlog NASA NATO OTAN esa SATCOM GLOBAL bharti HUGHES. orange Digicel Telefonica IBM Panasonic THALES gogo Global 岀 CARNIVAL GENTING MSC RigNet Eagle ROYAL CARIBBEAN CRUISES LTD. CORPORATION & PLC always connected. Eumpran Space Agency GOVERNMENT (~40% of Networks 2018 revenue) Secure and reliable connectivity enabling a range of civilian and defence-related applications ~60% U.S. Government (15 agencies / 50 clients) ~40% Global Government (29 countries / 58 clients) Unique ability to deliver high throughput, low latency mobile and broadband solutions Investor presentation | May 2019 -40% EUR 0.7BN (2018 revenue) -25% -35% MOBILITY (~25% of Networks 2018 revenue) Home equivalent connectivity delivered to passengers and businesses in the air and at sea ~60% Aero/~40% Maritime / expanding in Energy ((18))) FIXED DATA (~35% of Networks 2018 revenue) Extending global connectivity networks for major Telcos, MNOs, cloud and corporate enterprises Serving clients across EMEA, Americas and Asia-Pacific Long-term partnerships with major government and commercial customers Managed solutions that integrate fully within the broader global network ecosystem 13#14Delivered Important Successes for Our Customers in 2018 - Networks SES FIBRE LIKE NETWORKS ANYTIME, ANYWHERE Blanket Purchase Agreement with the US Department of Defense securing access to low latency connectivity services DEPARINENSE UNITED STATES OF A RELIABLE AND SECURE COMMUNICATIONS GovSat-1 now delivering important services supporting the Governments of Luxembourg, France and Belgium BROADENING DIGITAL ACCESS 6Gbps of reliable, low latency connectivity delivered in PNG to supporting venues and delegates during the APEC forum PnQ dataco ENABLING GLOBAL CLOUD ADOPTION Partnership empowering customers to reach new markets and support new applications on the IBM Cloud STAYING CONNECTED AT CRUISING ALTITUDE SES-15 and SES-14 delivering an enhanced passenger connectivity experience across the Americas with our partners gogo CONNECTED CRUISES Powering extraordinary guest experiences with superior connectivity, coverage and service new cruise contracts 960 SAT Investor presentation | May 2019 ոով CARNIVAL CORPORATION&PLC 14#15Networks Market Dynamics Vertical Demand drivers Global ComSatCom services spending USD billion(1) Government 8.0 7.4 ~40% 6.0 4.0 4.0 of Networks 2.0 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.0 Connected devices Billions (2) 100 75 Fixed Data 80 ~35% 60 40 of Networks 20 20 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 Connected planes and ships (3) in 000s 60 Mobility 40 ~25% 33 35 38 20 25 27 31 29 27 of Networks 21 23 9 11 13 15 17 18 20 20 21 0 2017 2018 2019 2020 2021 2022 2023 2024 2025 ■ Planes ■Ships 1) NSR 2018 2) IHS loT platforms 3) NSR 2017 4) ITU 2017 5) Euroconsult 2018 Investor presentation | May 2019 SES ▲ Growing need for Intelligence, Surveillance, Recognition and resilience and other data hungry applications ▲ Demand for reliable and secure fibre-like connectivity ▲ Expansion of e-inclusion programmes (e-health, e- learning, etc.) ▲ Nearly 50% of the world with limited internet access (4) ▲ 'Big Data' and 'Internet of things': More devices / people to connect having all bigger data needs, cloud access ▲ Further technologies leading to a further use of satellite (connected car, machine to machine, 5G) ▲ Only 30% of the planes connected today (5) and connectivity per plane from 6 Mbps to 70 Mbps by 2028 ▲ 'Cockpit', 'Smartship' and Energy cloud applications offering strong productivity potential 15#16Building the Future with O3b mPOWER 66 Dramatically scales the industry's only commercially and operationally proven NGSO SES⭑ Unprecedented flexibility to create differentiated user experiences and commercial models Seamless, intelligent integration with existing terrestrial, MEO and GEO satellite networks Reach and performance to open cloud, loT, Al and mobile data markets everywhere Investor presentation | May 2019 16#17SES 400M square kilometres covered 100% productive beams go only to customers not empty territory 03b mPOWER 0000 Multi-terabit scalable to 10s of Tbps globally CURRENT MEO 16 satellites in service (1) plus four launching in 2019 serving: A Small cities and towns ▲ Large multi-national organisations A Fixed rigs/larger production vessels ▲ Large cruise ships ▲ Larger fixed/mobile installations 1) Comprising thirteen operational satellites and three held as in-orbit back-up 5,000+ beams per satellite 03b mPOWER NEW OPPORTUNITIES FROM 2021 Seven super-power Satellites ① Investor presentation | May 2019 A 000 Multiple units in theatre VIP aircraft Commercial aircraft Inter-regional commercial ships Large yachts Smaller cruise ships Smaller mobile production vessels Cloud access Data centres Remote offices Small towns and remote locations 17#18Continued Progress in C-Band Framework for U.S. 5G THE C-BAND ALLIANCE 5G PROPOSAL 呸 WHAT YOU NEED TO KNOW Clears spectrum quickly to enable U.S. 5G leadership Accelerates GDP growth and 5G innovation Protects current TV and radio broadcasts to 100 million homes SES⭑ Addresses rural U.S. needs for quality television and broadband CBA working with all related parties to facilitate a transparent, fair and agile adoption of 5G in the U.S. Detailed transition plan now ready to execute upon an FCC Report & Order ▲ Ability to deliver up to 200 MHz (including guardband) of spectrum for 5G within 36 months with first tranche earlier Investor presentation | May 2019 C-Band Alliance 18#19Strong Focus on Execution to Drive Growth and Shareholder Value SES Growing revenue Up to 6% growth(1) (2018-2020) Growing EBITDA Up to 5% growth (1) (2018-2020) A Fuelled by double-digit growth in Networks ▲ Underpinned by large and resilient Video neighbourhoods ▲ Investing in managed service capabilities, supporting networks expansion ▲ Providing value-added services to reinforce core video neighbourhoods + Reducing annual CapEx ~30% reduction ▲ Driving technological innovation on the ground and in space (2010-2023) ▲ Doing the same for less CapEx, or doing more with the same CapEx + <3.3 times Committed to SES' investment grade credit status Strong balance sheet (net debt/EBITDA) ▲ Ensuring wide access to finance at most attractive rates 1) Absolute growth at constant FX Investor presentation | May 2019 Shareholder Value creation 19#20Q1 2019 RESULTS SES 20#21Q1 2019 Financial Highlights Revenue of EUR 480.6 million with underlying revenue(1) down 3.1% (YOY) • Group revenue +0.6% as reported and -2.3% at constant FX including periodic and other revenue EBITDA of EUR 290.1 million (-4.7% as reported and -7.0% at constant FX compared with Q1 2018) • EBITDA margin of 60.4% (Q1 2018: 63.7%); or 62.1% excluding EUR 8.3 million restructuring charge related to optimisation programme Net profit attributable to SES shareholders of EUR 72.2 million (Q1 2018: EUR 98.2 million) • Year-on-year comparison driven by operating profit development with Q1 2019 at EUR 113.2 million (Q1 2018: EUR 138.8 million) Free Cash Flow before financing activities at EUR 84.3 million • Investing activities reduced by 31.7% (YOY) Net debt to EBITDA ratio 3.40x, compared with 3.41x at Q1 2018 Expected to be at or below 3.3x by end of 2019 in line with SES' commitment to investment grade status Financial Outlook remains unchanged SES 1) Comparative figures are restated at constant FX to neutralise currency variations. Underlying revenue excludes periodic revenue and other (disclosed separately) that are not directly related to or would distort the underlying business trends Investor presentation | May 2019 21 21#22Revenue in Line with Expectations Revenue walk EUR million 477.6 14.5 3.6 492.1 (15.1) 480.6 Q1 2018 (reported) FX Q1 2018 (at constant FX) Underlying Periodic and other Q1 2019 Underlying revenue down EUR 15.1 million (or 3.1%) at constant FX compared with the prior year Strong growth in Networks, building on double-digit growth in 2018, with Video performing in line with expectations Investor presentation | May 2019 SES 22 22#23EBITDA Development Reflects Business Transformation EBITDA walk EUR million 304.4 EBITDA margin 63.7% 7.6 312.0 (11.5) (7.1) (3.3) 290.1 EBITDA margin 63.4% Q1 2018 (reported) FX Q1 2018 (at constant FX) Revenue Operating Expenses EBITDA margin 60.4% Restructuring charge Q1 2019 SES Change in recurring OpEx (EUR 7.1 million) principally reflects investment in expanding capabilities across the Networks' business Restructuring charge of EUR 8.3 million booked in Q1 2019 related to ongoing optimisation initiatives (Q1 2018: EUR 5.0 million) EBITDA margin 62.1% excluding restructuring charges (Q1 2018: 64.8% on the same basis) Investor presentation | May 2019 23#24Net Profit of EUR 72.2 million EUR million EBITDA Q1 2019 Q1 2018 290.1 304.4 Depreciation and amortisation expense (176.9) (165.6) Operating profit 113.2 Operating profit margin 23.6% 138.8 29.1% Net financing costs Income tax benefit/(expense) (37.8) (35.9) (7.2) +10.1 Effective tax rate 9.6% -9.8% Non-controlling interests 4.0 (14.8) Net profit attributable to SES shareholders 72.2 98.2 Investor presentation | May 2019 EUR 5.0 million higher at constant FX, reflecting new capacity brought into commercial service Q1 2019 operating profit margin of 25.3% excluding restructuring charge Lower net interest expense offset by lower capitalised interest than Q1 2018 SES YOY comparison affected by one-off impact associated with the recognition of a deferred tax asset in Q1 2018 and its corresponding impact on non-controlling interests 24#25Reducing CapEx through Innovation and Fleet Optimisation A 2018 CapEx was 30% lower than original forecast reflecting strong focus on cash flow and leverage, underpinned by disciplined spending CapEx reduction of ~30% during the period 2010 to projected 2023 (5-year rolling average) CapEx to sales ratio from 35%-40% to 20%-25% from beginning of the period to current outlook A Strong focus on cash flow and leverage underpinned by disciplined spending Capital Expenditure (total investing activities excluding acquisitions) EUR million (growth and replacement) 1,400 1,200 1,000 854(1) 800 600 400 588(1) Trend 200 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 Actual CapEx Committed satellite Estimated uncommitted satellite Ground/non-satellite 5-year rolling-average (at constant FX) 1) EUR 854 million CapEx average on the period 2007-2011 and EUR 588 million expected CapEx average on the period 2019-2023 Investor presentation | May 2019 SES 2021 CapEx reflects SES-17 and O3b mPOWER ▲ Targeting further CapEx efficiencies and increasing flexibility with new approach to satellite procurement 25#26Leverage Development in Line with Expectations Net debt to EBITDA Times (1) 3.53 3.43 3.41 3.40 3.29 3.27 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Repayment of USD 500 million bond successfully refinanced with no senior debt maturities now before March 2020 Free cash flow before financing activities at EUR 84.3 million with 31.7% reduction in net cash absorbed by investing activities Net debt to EBITDA ratio expected to be at or below 3.3x at the end of 2019, in line with SES' commitment to investment grade 1) Based on rating agency methodology (treats hybrid bonds as 50% debt and 50% equity) Investor presentation | May 2019 SES 26#27Financial Outlook Unchanged FY 2019 FY 2020 Financial outlook assumes EUR/USD FX rate of EUR 1 = USD 1.15, nominal launch schedule and satellite health status Video revenue EUR 1,225 -1,255 million EUR 1,200 1,250 million Networks revenue Group revenue(1) EUR 740-775 million EUR 1,975 – 2,040 million EUR 850 900 million EUR 2,060 - 2,160 million Group EBITDA - EUR 1,220 1,265 million (2) EUR 1,260 – 1,340 million 1) Group revenue includes approximately EUR 10 million of Other revenue 2) Group EBITDA excluding a restructuring charge of EUR 25 - 30 million Investor presentation | May 2019 SES 27#28Conclusion SES Strong business execution, delivering on all aspects of the 2018 financial outlook; focus on execution paramount in 2019 Balanced portfolio of high-growing Networks and sustained, highly profitable Video business through 2020 and ahead of the launch of our next generation network - O3b mPOWER Transforming the organisation inside and out to deliver exceptional customer experience Strong focus on cash flow, costs and leverage Strongly positioned to repurpose C-band, protect customers and neighbourhoods and deliver win-win market-based solution for 5G in the U.S. Investor presentation | May 2019 28#29SES Disclaimer This presentation does not, in any jurisdiction, including without limitation in the U.S., constitute or form part of, and should not be construed as, any offer for sale of, or solicitation of any offer to buy, or any investment advice in connection with, any securities of SES, nor should it or any part of it form the basis of, or be relied on in connection with, any contract or commitment whatsoever. No representation or warranty, express or implied, is or will be made by SES, its directors, officers or advisors, or any other person, as to the accuracy, completeness or fairness of the information or opinions contained in this presentation, and any reliance you place on them will be at your sole risk. Without prejudice to the foregoing, none of SES, or its directors, officers or advisors accept any liability whatsoever for any loss however arising, directly or indirectly, from use of this presentation or its contents or otherwise arising in connection therewith. This presentation includes "forward-looking statements". All statements other than statements of historical fact included in this presentation, including without limitation those regarding SES's financial position, business strategy, plans and objectives of management for future operations. (including development plans and objectives relating to SES products and services), are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of SES to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding SES and its subsidiaries and affiliates, present and future business strategies, and the environment in which SES will operate in the future, and such assumptions may or may not prove to be correct. These forward-looking statements speak only as at the date of this presentation. Forward-looking statements contained in this presentation regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. SES, and its directors, officers and advisors do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Investor presentation | May 2019 29 29#30Richard Whiteing Investor Relations [email protected] T +352 710 725 261 M+352 691 898 956 Connect with us in f BLOG SES beyond frontiers