Company: SGBAF
Filing Date: 2025-04-29
Form Type: F-4
Source: 0001193125-25-103898
Chunk: 422

Company: SES S.A.
Filing Date: 2025-04-29
Form: F-4
Chunk 422
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2, ten months ended December 31, 2022, year ended December 31, 2023, and year ended December 31, 2024, respectively. Note 5—Satellites and Other Property and Equipment (a) Satellites and Other Property and Equipment, net Satellites and other property and equipment, net were composed of the following (in thousands):

|                                        |     |   | As of December 31, 
            2023(1) |   |     |   | As of December 31, 
               2024 |   |
|:---------------------------------------|:----|:--|-------------------:|:--|:----|:--|-------------------:|:--|
| Satellites and launch vehicles         |     | $ |          4,075,888 |   |     | $ |          4,074,445 |   |
| Information systems and ground segment |     |   |            762,622 |   |     |   |            910,534 |   |
| Finance lease assets                   |     |   |            589,404 |   |     |   |            588,227 |   |
| Buildings and other                    |     |   |            319,688 |   |     |   |            331,043 |   |
| Total cost                             |     |   |          5,747,602 |   |     |   |          5,904,249 |   |
| Less: accumulated depreciation         |     |   |           (971,440 | ) |     |   |         (1,439,892 | ) |
| Total                                  |     | $ |          4,776,162 |   |     | $ |          4,464,357 |   |

F-137

| (1) | Certain prior period amounts have been reclassified to conform with the current period presentation. The 
 reclassification had no impact on the balance sheet.                                                     |

Satellites and other property and equipment are stated at historical cost, except for satellites that have been impaired. Satellites and other property and equipment acquired as part of an acquisition are stated based on their fair value at the date of acquisition. Upon the adoption of Fresh Start Accounting, we adjusted our satellites and other property and equipment balances to fair value. See Note 3—Fresh Start Accounting. Satellites and other property and equipment, net of accumulated depreciation as of December 31, 202