Company: SGBAF
Filing Date: 2025-04-23
Form Type: DRS/A
Source: 0000950123-25-003652
Chunk: 274

Company: SES S.A.
Filing Date: 2025-04-23
Form: DRS/A
Chunk 274
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 and expense and net operating loss and credit
carryforwards.

Intelsat regularly assess the likelihood that its deferred tax assets can be recovered. A valuation allowance is required
when it is more likely than not that all or a portion of the deferred tax asset will not be realized. Intelsat evaluates the recoverability of its deferred tax assets based on all available positive and negative evidence, including future reversals
of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If Intelsat determines that it is able to realize its deferred tax assets
in the future in excess of their net recorded amount, Intelsat will make an adjustment to the deferred tax asset valuation allowance, which reduces the provision for income taxes.

During the ordinary course of business, there are transactions and calculations for which the ultimate tax determination is uncertain.
Intelsat evaluates its tax positions to determine if it is more likely than not that a tax position is sustainable, based solely on its technical merits and presuming the taxing authorities have full knowledge of the position and access to all
relevant facts and information. When a tax position does not meet the more likely than not standard, Intelsat records a liability or contra asset for the entire amount of the unrecognized tax impact. Additionally, for those tax positions that are
determined more likely than not to be sustainable, Intelsat measures the tax position at the largest amount of benefit more likely than not (determined by cumulative probability) to be realized upon settlement with the taxing authority.

208

Confidential Treatment Requested by SES

Pursuant to 17 C.F.R. Section 200.83

Pension and Other Postretirement Benefits

Intelsat maintains a noncontributory defined benefit retirement plan covering substantially all of its employees hired prior to July 19,
2001. The cost of providing benefits to eligible participants under the defined benefit retirement plan is calculated using the plan’s benefit formulas, which take into account the participants’ remuneration, dates of hire, years of
eligible service, and certain actuarial assumptions. In addition, as part of the overall medical plan, Intelsat provides postretirement medical benefits to certain current retirees who meet the criteria under the medical plan for postretirement
benefit eligibility.

Expenses for Intelsat’s defined benefit retirement plan and for postretirement medical benefits that are
provided under its medical plan are developed from actuarial valuations. Any significant decline in the fair value of Int