Company: SGBAF
Filing Date: 2025-04-01
Form Type: DRS/A
Source: 0000950123-25-003272
Chunk: 310

Company: SES S.A.
Filing Date: 2025-04-01
Form: DRS/A
Chunk 310
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 period. The Group formally documents all relationships between hedging instruments and hedged items, as well as its risk-management objective and strategy for undertaking various hedge transactions. This process includes allocating all derivatives that are designated as net investment hedges to specific assets and liabilities in the consolidated statements of financial position. The Group also formally assesses both at the inception of the hedge and on an ongoing basis, whether each derivative is highly effective in offsetting changes in fair values or cash flows of the hedged item. If it is determined that a derivative is not highly effective as a hedge, or if a derivative ceases to be a highly effective hedge, the Group will discontinue hedge accounting prospectively. The ineffective portion of hedge is recognized in profit or loss. Derecognition of financial assets and liabilities

| 1 | Financial assets |

A financial asset is derecognized where:

| • |     | the right to receive cash flows from the asset has expired; |

| • |     | the Group retains the right to receive cash flows from the asset but has assumed an obligation to pay them in 
 full without material delay to a third party under a ‘pass-through’ arrangement;                              |

| • |     | the Group has transferred its rights to receive cash flows from the asset and either; |

| • |     | has transferred substantially all the risks and rewards of the asset; or |

| • |     | has neither transferred nor retained substantially all the risks and rewards of the asset but has transferred 
 control of that asset.                                                                                        |

F-34

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, 2024, December 31, 2023 and December 31, 2022

| 2 | Financial liabilities |

A financial liability is derecognized when the obligation under the liability is discharged, canceled or expired. Where an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as a derecognition of the original liability and the recognition of a new liability, and the difference in the respective carrying amount is recognized in profit or loss. Offsetting financial instruments Financial assets and liabilities are offset, and the net amount reported in the consolidated statements of financial position, when there is a legally enforceable right to offset the recognized amounts and there is an intention to settle on a