Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 282

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 282
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 of deferred taxes                                            |     |      |  211 |   |     |      |  89 |   |
| Foreign withholding taxes                                           |     |      |    8 |   |     |      |   5 |   |
| Translation impact on investments in subsidiaries                   |     |      |    — |   |     |      |  33 |   |
| Other                                                               |     |      |   (1 | ) |     |      |   4 |   |
| Income tax reported in the consolidated income statement            |     |      |  176 |   |     |      |  87 |   |

Foreign withholding tax The foreign withholding tax of EUR 8 million for the year ended December 31, 2023 (2022: EUR 5 million) includes EUR 4 million of Indian withholding tax retained by customers and paid to the Indian tax authorities (2022: EUR 2 million). A final decision on Indian withholding taxes is still pending at the level of the Supreme Court. The remaining EUR 4 million (2022: 3 million) relates to withholding tax retained by customers in other jurisdictions. Investment tax credits (‘ITCs’) In 2023, the continuing investment in the O3b mPOWER and 19.2° East replacement satellites triggered the recognition of deferred tax assets for ITCs of EUR 5 million (2022: EUR 27 million) and EUR 10 million (2022: EUR 31 million) respectively. The remaining EUR 3 million (2022: EUR 3 million) of deferred tax assets for ITCs was recognized in connection with other investments by Group companies in Luxembourg. F-40

Confidential Treatment Requested by SES Pursuant to 17 C.F.R. Section 200.83 Consolidated financial statements as of and for the years ended December 31, 2023 and December 31, 2022 Impact of deferred taxes Considering the estimated future taxable income based on the most recent business plan information and tax losses carried forward in the Luxembourg fiscal unity as of the end of 2023 the Company has concluded that the ITCs recognized in all prior years and current year cannot be used due to the 10-yearcarry forward limitation rule. Therefore, an additional valuation adjustment of EUR 218 million on deferred tax assets for ITCs for Luxembourg fiscal unity was recorded in 2023. Considering the estimated future taxable income based on the most recent business plan information and tax losses carried