Investor Presentaiton

Net 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

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