Company: SGBAF
Filing Date: 2025-04-29
Form Type: F-4
Source: 0001193125-25-103898
Chunk: 324

Company: SES S.A.
Filing Date: 2025-04-29
Form: F-4
Chunk 324
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 of the end of 2024 the Company has concluded that the ITCs recognized in all prior years and current year cannot be fully used due to the 10-yearcarry forward limitation rule. Therefore, the deferred tax assets for ITCs for the Luxembourg fiscal unity were unrecognized in 2024. Impairment on investments in subsidiaries and other assets The aggregate impact of EUR 7 million for the year ended December 31, 2024, EUR 167 million for the year ended December 31, 2023 and EUR 0 million for the year ended December 31, 2022 mainly comprise the following:

| • |     | The net impairment charge of EUR 50 million (2023: EUR 453 million, 2022: EUR 142 million) recorded on                                                                                           
 the carrying value of subsidiary investments and other assets held by entities in Luxembourg resulting in an income tax benefit of EUR 11 million (2023: EUR 123 million, 2022: EUR 38 million). |

| • |     | The net impairment charges of EUR 241 million (2023: impairment charge of EUR 35 million, 2022:                                                                                                                                         
 reversal of EUR 62 million) taken on the carrying value of intercompany receivables held by entities in Luxembourg resulting in an income tax expense of EUR 4 million (2023: tax benefit of EUR 9 million, 2022: tax expense of EUR 17 
 million).                                                                                                                                                                                                                               |

| • |     | In 2023, the impairment charge of EUR 989 million (2022: EUR 77 million) recorded in connection with the                                                      
 goodwill attributed to the GEO North America cash-generating unit (see Note 16) resulting in a negative ETR impact of EUR 208 million (2022: EUR 16 million). |

| • |     | In 2023, the impairment charge of EUR 340 million (2022: nil) recorded in connection with the goodwill                                   
 attributed to the GEO International cash-generating unit (see Note 16) resulting in a negative ETR impact of EUR 81 million (2022: nil). |

| • |     | In 2023, the impairment charge of EUR 219 million (2022: nil) recorded in connection with the goodwill   
 attributed to MEO cash-generating unit resulting in a negative ETR impact of EUR 13 million (2022: nil). |

F-44

Consolidated financial statements as of and for