Morgan Stanley TMT Conference

Morgan Stanley TMT Conference Barcelona 11-13 November 2015 SES Proprietary SES Proprietary

Satellite sector at a glance Highly attractive dynamics for a global satellite operator Fixed Satellite Services (FSS) Industry by revenue (1) Other Operators 34% Total (2014): USD 11.6 billion 22% Key fundamentals of satellites: Satellite an efficient, cost effective solution for video and data transmission High margins and income visibility, generating robust long-term cash flows Highly technologically driven industry with benefits of continuous innovation 7% 21% Intelsat Key challenges for new entrants: Spectrum a finite and regulated resource Telesat 16% Eutelsat High level of capital requirements High level of technical expertise needed Increasing market vertical expertise focus 1) Source: NSR SES Proprietary 1

Satellite s essential role in communications networks Superior reach and quality to any terrestrial network Satellite 100% Coverage of Land, Sea, and Air via satellite Reach Satellite covers virtually 100% of households with broadcast video capability, delivering flawless high quality (UD/UHD) media content 29% of developed and 7% of emerging market households have broadband access. Only 5% of homes have broadband over 100 Mbps Satellite remains the only architecture capable of delivering connectivity to aeronautical and maritime platforms Terrestrial broadband 29% Developed (1) 7% Emerging (1) 0% Mobility Broadband coverage Quality 99.99% Satellite availability 4-5 Gbps Consistent broadcast bandwidth per satellite Extremely high availability compared with end-to-end terrestrial network availability in many emerging markets (due to poor peering/outages) Live HD broadcast requires sustainable peak-time access of 20 Mbps per household to mitigate contention, significantly higher than global average Delivers uninterrupted, consistent bandwidth, enabling high quality viewing experience unaffected by simultaneous viewing/audience size Satellites regularly broadcast directly to over 100 million homes in perfect HD quality; while the largest simultaneous audience attained and sustained over terrestrial network was 8 million SD viewers (3) Variable average end-to-end network availability 5 Mbps (2) Average global broadband speed 1) Source: ITU (fixed broadband subscriptions per 100 inhabitants) 2) Source: Akamai 3) Source: Twitch SES Proprietary 2

Satellite s essential role in communications networks Cost efficient and scalable solution, complemented by OTT Efficiency and scalability USD 15 Cost to deliver HD movie to any number in footprint USD 2 Fixed cost per household (Germany) Satellite progressively more efficient for media content delivery as audience grows; terrestrial only cost-efficient at small audience sizes Satellite CapEx investment stays fixed, regardless of growth in receiving homes. Fixed costs for terrestrial broadband increase proportionately to the additional number of homes passed Satellite is also 25 times more efficient than International Mobile Telecommunications Standard in delivering broadcast video content (volume) per unit of spectrum USD 25,000 (1) Cost to deliver HD movie to 2.5 million viewers USD 500 (2) Fixed cost per household (Germany) Convergence ~1ZB Broadcast video delivered by SES per year SES s fleet serves 312 million TV homes in multiple access modes, including 38 million IPTV homes, with over 7,000 TV channels. This generates over 1 Zettabyte of broadcast video annually SES annually exchanges 57 Gbps of data traffic with the Internet, delivering around 22 TB of data to thousands of global Internet POPs ~1 ZB (3) Total volume of internet traffic in 2015 1) Source: CDN delivery costs using Microsoft Azure 2) Source: BMVI 3) Source: Cisco SES Proprietary 3

SES at a glance World leading satellite-enabled solutions provider SES focuses on four key market verticals Video Fixed Data Mobility Government Providing global satellite-enabled solutions GEO MEO HTS GEO HTS Operating 53 GEO satellites using over 20 global teleports, augmented by O3b s 12 MEO satellites Differentiated offer combining GEO wide beam, GEO High Throughput Satellites (HTS) and MEO HTS capabilities Serving over 700 broadcasters, enterprises, institutions and governments in over 130 countries Reaching 312 million TV households worldwide Annual revenue EUR 1.9 billion (FY 2014) Contract backlog EUR 7.4 billion SES Proprietary 4

SES at a glance Providing a differentiated global offer: Infrastructure Completing and deploying a multi-layer satellite network to capture global opportunities (1) GEO wide beam + GEO HTS + MEO HTS 53 satellite constellation Reaching 312 million TV households worldwide Serving multiple global data applications and customers Seven future satellites adding 12% new capacity to be launched by end-2017 Adding 36 GHz total Ka- and Ku- capacity by end-2017 Global HTS platform covering Europe, North America, Latin America and Asia-Pacific Reduced cost per MHz, improving value proposition for data applications 12 satellite constellation Covering between 45 North and 45 South High throughput of over one Gbps per beam Ultra low latency for fibre in the sky type of service Further procurements planned Maintaining focus on developed markets and accelerating globalisation of assets/capabilities 1) SES has a 45% interest in O3b Networks SES Proprietary 5

SES at a glance Providing a differentiated global offer: Value-added Services Differentiating SES globally and across market verticals, as well as generating incremental pull through Supports broadcasters, production companies and platform operators Range of solutions for both linear and non-linear content Customers include: Sky, RTL Group, StarTimes, and many more Over 3 million households (1) using HD+ in Germany 50 HD channels, including 20 HD channels as part of the private subscription service Over 40 years experience serving variety of DoD and other U.S. Government customers, including: Systems and service provider Develops innovative, state-ofthe-art solutions and products Satellite-enabled solutions for e-government; e-education, e-health and applications for emergency communications Part of SES Platform Services existing suite of services Supporting customers in emerging markets with cost efficient solutions Over 50 decentralised playout centres around the world Serving over 120 channels globally and growing Facilitated more private free TV stations in HD in Germany End-to-end solutions and diverse hosted payload portfolio Working with U.S. Government to shape policy and optimise procurement practices High-speed broadband internet solutions via satellite Connecting entire communities in remote areas using single satellite dish Successful launch in Europe, and expanding network to Middle East and Africa 1) Including 1.4 million users within the six months free introductory period SES Proprietary 6

SES s vision and strategic focus Building future-proof differentiation To be the foremost satellite-enabled provider of SES s vision communications around the world and an indispensable contributor to global digitisation Focus on three key horizons 1. Globalisation 2. Verticalisation 3. Dematuring the industry Maximising profitability and returns 1. Clear financial framework 2. Consistent application of cash flow SES Proprietary 7

SES s financial track record Delivering profitable growth though globalisation Revenue development (at constant FX and same scope) EUR million 2,000 1,500 18% 29% +11.1% CAGR 1,000 25% 57% 18% 53% -1.8% CAGR +2.3% CAGR (Digital +7.1%) 500 0 2007 2008 2009 2010 2011 2012 2013 2014 72% (82%) Europe North America International Group EBITDA Margin, inc. Services (Infrastructure Margin) 74% (84%) SES Proprietary 8

SES s key market verticals Differentiating capabilities to optimally serve four attractive market verticals Differentiating solutions: GEO wide beam Focusing on four market verticals with strong long-term fundamentals: Video HD growing in developed markets; Ultra HD now a reality Significant growth in TV households across emerging markets Consumers increasingly want combination of high quality linear experience (e.g. HD and Ultra HD), complemented by OTT + GEO HTS Fixed Data Proliferation of global data usage/applications Users want higher speeds and uninterrupted coverage HTS enables higher throughput and lower cost per bit + MEO HTS (1) Mobility Strong growth in bring your own device usage Commercial mobility expanding domestically, and Internationally GEO/MEO HTS key enablers, complementing wide beam + Services Government Increasing use of high-bandwidth satellite-based applications USG demand for COMSATCOM remains strong Increasing role for HTS and military spectrum 1) SES has a 45% interest in O3b Networks SES Proprietary 9

SES s key market verticals Strong growth foundations developed across all verticals Video Over 30% of SES channels now in HD (rest of world: 19%) 21 million (+7%) additional households served by SES since 2014 40 Pay TV and free-to-air platforms now supported by SES Seven satellite operators/tv manufacturers now part of the SAT>IP Alliance FLUID HUB already supporting 20 video on demand portals (launched Q2 2015) 50% increase in pull through revenue from SES Platform Services since 2012 +36% Channel growth in last three years (SES) +23% Channel growth in last three years (rest of the world) Fixed Data Tier One (e.g. Airbus, Orange, Telefonica) grown (YOY) from ~30% to over 40% of Fixed Data 3x number of SES managed IP platforms and average bitrate grown from 4 Mbps to 12 Mbps (vs. 2013) 3x number of virtual networks supported by SES over the last two years Over one million simultaneous fixed internet connections reached by SES s global fleet GEO/MEO complementarity with Digicel, PNG, RCS using both SES and O3b capacity SES Proprietary 10

SES s key market verticals Strong growth foundations developed across all verticals Mobility Serving all three major global inflight connectivity providers (Global Eagle, Gogo and Panasonic) +100% growth in SES capacity contracted by Global Eagle Entertainment in last 12 months Up to 300,000 airline passengers served by SES satellites today 4 Gbps potential in-flight bandwidth delivery Up to 2,000 Aircraft served by SES satellites Four RCCL/O3b ships have more bandwidth than the entire maritime industry combined Government Five new government regions served in the last year (including Niger, Kenya and Italy) Doubled hosted payloads agreements in 2015 (EGNOS-I, EGNOS-II, WAAS and GOLD) Seven new U.S. Government customers under contract since last year Increase in UAV/ISR traffic supported by SES Non-U.S. Government revenue doubled from ~1.5% to ~3% of total revenue in last three years SES Proprietary 11

SES s Next Generation Video positioning Significantly improving technical reach SES s significant and growing technical reach 2014 vs. 2013 (1) Millions of TV households North America 84m +9m Europe 154m +3m Latin America 24m +1m Africa 7m +6m Asia-Pacific 44m +2m Technical reach of 312 million TV households; represents 1.1 billion people 20% (54 million households) growth in technical reach over the last three years 1) Source: SES, Satellite Monitor YE14, B2B surveys among cable head-ends in North and Latin America, PayTV operators` figures. Includes subscribers reached via Ciel-2 s spot beams SES Proprietary 12

SES s Next Generation Video positioning Delivering higher quality via HD TV growth SES s growing channel count (1) Number of TV channels broadcast over SES s fleet 8,000 7,115 6,000 5,237 5,967 6,416 4,000 2,000 1,410 1,715 1,836 2,178 0 Q3 2012 Q3 2013 Q3 2014 Q3 2015 Total TV channels HD TV channels SES satellites broadcast 25% of the world s satellite HD TV channels 1) Source: Lyngsat, SES analysis SES Proprietary 13

Market outlook: Video Consumers want a higher quality experience with more choice Global TV channels broadcast over satellite (1) UHD and 3D ~750 (+21.8x) HD ~7,800 Total (2014) ~38,700 HD ~22,300 (+2.8x) Total (2024) ~48,500 (+1.3x) SD ~30,900 SD ~25,400 (-1.2x) Higher quality video formats (HD and UHD) require more satellite capacity than SD 1) Source: Euroconsult SES Proprietary 14

Market outlook: Video Linear TV remains the principal viewing platform Average daily viewing time per individual (1) Minutes 300 Linear vs. non-linear consumption 2014 (2) Minutes 300 293 250 232 226 221 244 200 200 100 150 100 2003 2005 2007 2009 2011 2013 0 26 19 18 5 7 U.S.A. U.K. France Germany Spain Worldwide Europe North America Linear Non-linear 1) Source: Mediametrie/Eurodata TV 2) Source: Eurodata TV, IHS SES Proprietary 15

Market outlook: Fixed Data Broadband becoming a universal requirement Projected global IP traffic demand (1) Data traffic by region (1,2) Gigabytes per capita per month worldwide Exabytes per month 25 200 20 150 15 100 10 5 50 0 2014 2016 2018 2020 Asia-Pacific 0 2014 2015 2016 2017 2018 2019 Users want higher speeds and uninterrupted connectivity everywhere 1) Cisco VNI 2) One exabyte equals one billion gigabytes SES Proprietary 16

Market outlook: Mobility Growing demand for connectivity anytime and anywhere Projected peak throughput per aircraft (1) Aeronautical connectivity (2) Mbits per second FSS in-service units (planes equipped) 100 25,000 80 20,000 60 15,000 40 10,000 20 5,000 0 2011 2012 2014 Future 0 2014 2016 2018 2020 2022 2024 Airlines and maritime responding to growing bring your own device usage 1) Source: Gogo, SES Analysis 2) Source: NSR (Ku-band and HTS in-service units) SES Proprietary 17

Market outlook: Government Governments expanding their data requirements U.S. DoD spending (1) UAV/ISR platform bandwidth consumption (2) USD billion (at constant FX) 750 500 Mbits per second Predator 3-5 Mbits 250 Reaper 5-10 Mbits 0 2006 2008 2010 2012 2014 2016 2018 2020 Base Budget Overseas Contingency Operations Global Hawk 10-50 Mbits Increasing use of more bandwidth-intensive government data applications 1) Source: US Congressional Budget Office 2) Source: SES Analysis SES Proprietary 18

SES Dematuring the industry Achieving important milestones for Ultra HD s commercial introduction Five commercial UHD channels and four SES demo channels launched Europe s first commercial UHD channel (pearl.tv) World s first global commercial UHD channel (Fashion One 4K) (1) Six commercial UHD agreements secured YTD 2015 1) Fashion One is being broadcast across North America, South America and Europe utilising multiple SES satellites. Channel also being broadcast in Asia-Pacific and East Africa SES Proprietary 19

SES Dematuring the industry Gaining industry-wide momentum and support for SAT>IP Satellite-enabled solution to complement linear experience, with non-linear capabilities Delivering satellite signal to any connected IP device SAT>IP Alliance established to encourage SAT>IP s development and adoption SES Proprietary 20

SES Dematuring the industry Building a global GEO HTS platform for Next Generation Data and Mobility SES-12, SES-14 and SES-15 HTS spot beam footprints SES-15 (129 West) Up to 10 GHz HTS Launch in H1 2017 SES-14 (47.5/48 West) Up to 12 GHz HTS Launch in H2 2017 SES-12 (95 East) Up to 14 GHz HTS Launch in H2 2017 SES Proprietary 21

SES Dematuring the industry Accelerating O3b Networks market traction globally unique coverage from Medium Earth Orbit (MEO) (1) Fastest growing satellite network in terms of capacity contracted Fibre in the sky network now serving 40 customers across 31 countries Seven of O3b s first eight customers have already upgraded their bandwidth requirements O3b s contract backlog has grown by 48% since July 2013 to over USD 530 million (as at June 2015) Current 12 satellite constellation capable of delivering over 190 Gbps of total capacity 1) SES has a 45% interest in O3b Networks SES Proprietary 22

SES Dematuring the industry Complementing SES s GEO assets through investment in O3b SES has a 45% interest in O3b 12 Medium Earth Orbit (MEO), super HTS satellites Covering between 45 degrees North and 45 degrees South Target markets include over 3 billion people High throughput of over 1 Gbps per beam (1) Ultra low latency (less than 150 milliseconds) providing fibre in the sky service 1) 600 Mbps x 2 (Uplink / Downlink) SES Proprietary 23

SES s Next Generation Data positioning HTS (GEO & MEO) appeals to a range of customers Broadcast Enterprise VSAT Mobile backhaul 2G GEO wide beam + GEO HTS + MEO HTS Mobile backhaul 3G/4G Oil & Gas, Mining Trunking Consumer broadband Aeronautical Maritime U.S. Government International SES Proprietary 24

YTD 2015 Results Financial highlights (nine months ended 30 September 2015) YTD 2015 EUR million YTD 2014 EUR million Growth as reported Growth at constant FX (1) Revenue 1,492.6 1,406.6 +6.1% -2.9% EBITDA 1,106.5 1,049.7 +5.4% -3.6% Profit after tax (2) 473.5 456.8 +3.7% n/a Diversified, global revenue profile driving increase in reported revenue and profit Revenue flat (at constant FX), adjusting for txps sales, AMC-15/-16 renewals and ARSAT migration impacts Growing in three of SES s four key verticals (Video, Mobility and Government) Fixed Data decline due to FX impact on certain customers; trend stabilising with Q3 2015 revenue higher than Q2 2015 Share of associates loss EUR 95.5 million, primarily due to non-cash expenses associated with O3b O3b on track for EBITDA breakeven by early 2016; fastest growing satellite network in terms of capacity contracted 1) At constant FX refers to the restatement of comparative figures to neutralise currency variations and thus facilitate comparison 2) Profit before share of joint ventures and associates result and non-controlling interests SES Proprietary 25

YTD 2015 Results Regional revenue developments Europe EUR 760.1 million +0.3% as reported (1) +0.4% at constant FX (1) Further growth in Services and Infrastructure revenue Final four txps sold to ETL (YTD 2014: eight txps sold) UHD agreements with pearl.tv, TERN and Sky Deutschland North America EUR 292.8 million +15.8% as reported (1) -4.1% at constant FX (1) Two U.S. Government-funded hosted payloads UHD agreements with Fashion One, High 4K TV and NASA UHD Impact of AMC-15/-16 capacity renewal agreements International EUR 439.7 million +11.1% as reported (1) -7.3% at constant FX (1) StarTimes additional capacity and services for DTH in Africa Major mobility contracts with GEE and KVH Offset by transition of ARSAT capacity to own satellite and impact of stronger USD on certain Fixed Data customers 1) Growth vs. YTD 2014 SES Proprietary 26

YTD 2015 Results Robust financial and operational metrics As reported YTD 2015 YTD 2014 YTD 2013 EBITDA margin 74.1% 74.6% 73.2% - Infrastructure 84.0% 84.2% 83.6% - Services 16.2% 16.2% 15.9% Contract backlog EUR 7.1 billion EUR 7.3 billion EUR 7.4 billion Net debt to EBITDA 2.62 times 2.87 times 3.01 times Weighted average interest rate 3.77% 3.84% 3.92% Weighted average debt maturity 8.5 years 8.8 years 5.9 years Available transponders (3) 1,502 1,534 1,469 Utilised transponders (3) 1,086 1,110 1,088 Operating expenses flat (1) (YOY) and infrastructure and services margin remain robust Financing costs benefiting from refinancing activity over the last two years, while maturity improved Utilised capacity grew by 20 txps (YOY), excluding NSS-7 and ARSAT migration 1) At constant FX 2) Excluding loan origination costs and commitment fees 3) 36 MHz equivalent. Excluding satellites in inclined operation, for which pricing is lower than station-kept operations SES Proprietary 27

SES s solid medium-term growth drivers Global Video, Next Generation Data and fibre in the sky 2016 2017 2018 Global Video SES-9 (Asia-Pacific) and SES-10 (Latin America) 80 incremental transponders with anchor customers Next Generation Data and Mobility SES-12, SES-14 and SES-15 Global HTS platform (36GHz) Next Generation Government SES-16/GovSat 68 incremental transponders Fibre in the sky O3b Networks (1) 12 satellites with further procurements to come 1) SES has a 45% interest in O3b Networks SES Proprietary 28

SES s next generation satellite fleet Increasing total capacity by 12%; and International by 21% Seven satellites scheduled to be launched by end-2017 Incremental capacity (36 MHz equivalent) +68 +16 +8 +8 +180 +27 +0 Plus 36 GHz total HTS capacity (Broadly equivalent to ~250 TPEs, assuming 4 MHz of SES-12/-14/-15 HTS capacity = 1 MHz of wide beam data capacity) +53 SES-9 SES-10 SES-11 SES-16/GovSat SES-15 SES-12 SES-14 Total Q4 2015 (1) H2 2016 H2 2016 H1 2017 (2) H1 2017 (1) H2 2017 (1) H2 2017 (1) End-2017 Europe North America (+16) International (+164) 1) SES-9, SES-12, SES-14 and SES-15 will be positioned using electric orbit raising, with entry into service some four to six months after launch date 2) Procured by LuxGovSat SES Proprietary 29

SES s future CapEx profile Lowering replacement CapEx; accelerating growth Capital Expenditure profile EUR million 900 600 300 0 54 781 60 631 57 362 At 24 July 2015: 580 650 495 450 450 59 288 540 60 480 Total 2015-2019: EUR 2.6 billion (1) 2011 2012 2013 2014 2015 2016 2017 2018 2019 680 80 60 540 495 70 60 365 450 450 350 60 40 390 60 Committed and uncommitted CapEx for replacement and incremental growth capacity Committed and uncommitted non-satellite CapEx (infrastructure and services) Estimated uncommitted replacement and incremental growth capacity Changes to CapEx profile primarily due to impact of launch delay 1) Based on EUR 1: USD 1.20. Including capitalised interest, and excluding financial or intangible investments SES Proprietary 30

SES s future CapEx profile Reducing normalised CapEx requirement Current (2015) Change vs. 2014 Primary mission satellites 32-14% Average cost per satellite EUR 224 million +2% Assumed design life 15 years - Normalised satellite CapEx (annual) EUR 475 million -12% Non-satellite CapEx (annual) EUR 60 million - Scope change (SES-16 & HTS, annual) (1) EUR 40 million n/a Economies of scale and design reducing total satellites required to maintain existing traffic Well on track to deliver targeted savings of up to 20% by 2018 Economic scope extension of growth capacity for new opportunities (e.g. HTS / SES-16) Further 20 secondary mission/inclined satellites for incremental revenue opportunities 1) CapEx for new growth opportunities and new revenue streams: SES-16 / GovSat and HTS capacity SES Proprietary 31

SES s strong financial capabilities Sound and consistent financial framework Current/target 1 IRR hurdle rates (organic & inorganic) Over 10% for Infrastructure (1) Over 15% for Services (1) 2 EBITDA margins Over 82% for Infrastructure 14-18% for Services 3 Debt and Interest Net Debt/EBITDA ratio below 3.3x Long average maturity of 8.7 years; low average rate of 3.8% (2) Balance of EUR/USD debt around 55%/45% Ratio of fixed/floating rate debt around 90%/10% 4 Effective tax rate 13-18% effective tax rate Providing the basis for solid financial ratios and strong balance sheet metrics 1) On an unlevered, pre-tax basis; 2) Weighted average interest rate, excluding loan origination costs and commitment fees SES Proprietary 32

SES s financial track record Strong balance sheet supports future profitable growth FY 2004 FY 2014 Net income EUR 341 million EUR 601 million +5.8% CAGR Free cash flow before financing EUR 487 million EUR 738 million +6.8% CAGR Total assets EUR 6.9 billion EUR 10.0 billion +3.8% CAGR Net Debt/EBITDA ratio 2.16 times 2.77 times +61 bps Return on Tangible assets (1) 13% 18% +500 bps Return on Equity (2) 10% 25% x2.5 Return on Invested Capital (3) 6% 10% +400 bps 25% Return on Equity reflecting profitable growth and leverage of share base Return on Invested Capital well ahead of SES s WACC 1) Excluding assets under construction 2) NOPAT/Equity 3) NOPAT/(Equity + Debt) SES Proprietary 33

SES s financial track record Profitable top-line growth Revenue (at constant FX and same scope) EUR million 2,000 EBITDA (at constant FX and same scope) EUR million 1,500 23% 1,500 14% 1,000 1,000 500 86% 77% 500 0 0 2007 2008 2009 2010 2011 2012 2013 2014 2007 2008 2009 2010 2011 2012 2013 2014 Infrastructure Services Infrastructure Services Strong revenue growth reflects organic infrastructure and services growth EBITDA growth outstripping revenue due to margin improvement from 71.7% to 74.4% SES Proprietary 34

SES s financial track record Growing cash flows support future profitable growth Free Cash Flow (before financing activities) EUR million and % of Group revenue 900 600 39% 39% 300 31% 24% 29% 16% 11% 13% 0 2007 2008 2009 2010 2011 2012 2013 2014 Free Cash Flow % of revenue EBITDA growth (+3.9% CAGR), high cash conversion rate (85-90%) and lower CapEx SES Proprietary 35

SES s strong financial capabilities Consistent approach to application of cash 1 Fund current business plan Current replacement requirements Existing pipeline of organic growth opportunities 2 Annual dividend Maintaining a progressive dividend Growth rate assumption annually validated 3 Growth investments (organic & inorganic) IRR hurdle rate of >10% for Infrastructure; >15% for Services Potential M&A (minimum hurdle rate applied) Potential to move to control of O3b Networks 4 Share repurchases Option to optimise WACC SES Proprietary 36

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 forwardlooking 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. SES Proprietary 37