Closed Periods

SES respects “closed periods” around financial results announcements.

During the closed periods, Board members, Senior Management, employees and associates of SES and its affiliated companies (including SES ASTRA, SES WORLD SKIES, SES SIRIUS and APS), as well as the persons closely associated with them are not allowed to buy or sell any FDRs, shares or Eurobonds issued by SES, irrespective of whether they have inside information (i.e information which is not public and which may have a significant impact on the price of any of these securities) or not. They are not allowed to convert any stock options, or exercise any "STARs“ (Stock Appreciation Rights) during these periods either.