Company: SGBAF
Filing Date: 2025-04-01
Form Type: DRS/A
Source: 0000950123-25-003272
Chunk: 203

Company: SES S.A.
Filing Date: 2025-04-01
Form: DRS/A
Chunk 203
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 jurisdictions in which it operates to assess the need to recognize such assets based mainly on
projections of taxable profits to be generated in each of those jurisdictions. The carrying amount of each deferred tax asset is reviewed at each reporting date and reduced to the extent that current projections indicate that it is no longer
probable that sufficient taxable profits will be available to enable all, or part, of the asset to be recovered.

The accounting
policy for taxation is explained in Note 2 to SES’s consolidated financial statements. The income taxes are explained in Note 9 to SES’s consolidated financial statements beginning and the recognized deferred tax assets and liabilities are
shown in Note 10 to SES consolidated financial statements. Other provisions for liabilities and charges are as set out in Note 28 to SES’s consolidated financial statements.

Business combinations

In respect of
business combinations, significant estimates and assumptions relate to the estimation of the fair values of acquired net assets arising in a business combination and the allocation of the purchase consideration

145

Confidential Treatment Requested by SES

Pursuant to 17 C.F.R. Section 200.83

between the underlying net assets acquired, including intangible assets other than goodwill, based on their fair values. These estimates are prepared in conjunction with the advice of independent
valuation experts, where appropriate. The relevant transactions are described in Notes 2, 3 and 16 to SES’s consolidated financial statements.

Consolidation of entities in which the Group holds 50% or less

Judgement is applied in the determination as to whether control (subsidiaries), joint control (joint arrangements), or significant influence
(associates) exists in relation to the investments held by SES. SES consolidates a subsidiary where it has: power over the subsidiary; exposure, or rights, to variable returns from that subsidiary; and the ability to use its power over the
subsidiary to affect the amount of the Group’s returns. This is assessed after considering SES’s ability to appoint directors to the entity’s board, its relative shareholding compared with other shareholders, any significant contracts
or arrangements with the entity or its other shareholders and other relevant facts and circumstances. The application of this judgment in respect of SES’s investment in Yahlive, LuxGovSat and Luxembourg Space Sector Development SCSp is
explained in Note 2 to SES consolidated financial statements.

Trade receivables and unbilled accrued revenue

SES estimates expected credit losses on trade receivables and unbilled accrued revenues using a provision matrix based on loss expectancy rates
and