Company: SGBAF
Filing Date: 2025-04-29
Form Type: F-4
Source: 0001193125-25-103898
Chunk: 368

Company: SES S.A.
Filing Date: 2025-04-29
Form: F-4
Chunk 368
---
58 |   |     |               |  14 |   |     |            | 2 |     |       |  74 |   |
| Non-current                            |     |           |  5 |   |     |               |   — |   |     |            | 2 |     |       |   7 |   |
| Current                                |     |           | 53 |   |     |               |  14 |   |     |            | — |     |       |  67 |   |

Group tax provision Group tax provision mainly relates to disputed withholding tax (‘WHT’) obligations in India where tax authorities have sought to impose WHT on payments from Indian customers despite the existence of a tax treaty that SES believes does not permit this. New Skies Satellites B.V., a Dutch subsidiary of SES providing services in India, has consistently appealed against these decisions from the Indian tax authorities and the case is currently pending before the Indian Supreme Court. Despite the tax technical merits of SES’s arguments, there remains a high-level of uncertainty as to how the Indian Supreme Court will rule. Management believes that it is at present more-likely-than-notthat New Skies Satellites B.V. will not be able to obtain a favorable ruling from the Indian Supreme Court and therefore records a provision for this uncertain tax position representing management’s best estimate of the most likely cash out. The increase in the Group tax provision was mainly due to a refund of withholding taxes under litigation. The accrued interest on the disputed WHT position (EUR 30 million) has been reclassified in 2024 as ‘Other provisions’ (EUR 40 million) and ‘Deferred Tax Asset’ (EUR 10 million). Restructuring provision Expenses of the year include an amount of EUR 54 million (2023: EUR 27 million, 2022: EUR 9 million) of staff-related restructuring expenses (Note 5). The consolidated statements of financial position includes a provision of EUR 51 million (2023: EUR 31 million). F-84

Consolidated financial statements as of and for the years ended December 31, 2024, December 31, 2023 and December 31, 2022 Note 29—Trade and other payables

| € million                                              |     | 2024 |     |     | 2023 |     |
| Trade creditors                                        |     |      |  58 |     |      |  60 |
| Payments received in