Company: SGBAF
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001193125-25-120606
Chunk: 168

Company: SES S.A.
Filing Date: 2025-05-15
Form: 424B3
Chunk 168
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 on January 1, 2024 with an coupon that reflects current interest rates (the NC 5.25-yearnotes bear a coupon of 5.5% per annum, while the NC 8-yearnotes will bear a coupon of 6% per annum), interest expense (including amortization of loan origination costs) of €40 million would have been incurred during the period starting from January 1, 2024 till September 11, 2024 and is reflected in the unaudited condensed combined pro forma income statement. An additional expense of €12 million was reflected in the unaudited condensed combined pro forma income statement in respect of loan origination costs related to the bridge facility and the subordinated hybrid notes. An accrual of €8 million representing additional expected loan origination costs related to the undrawn Bridge Facility are shown within “Trade and other payables”. 125

Note 5 – Earnings per share Earnings per share is calculated by dividing the net profit or loss for the year attributable to ordinary shareholders of each class of shares by the weighted average number of shares outstanding during the year as adjusted to reflect the economic rights of each class of share. The net profit or loss for the year attributable to ordinary shareholders has been adjusted to include an assumed coupon, net of tax, on the Perpetual Bonds. Assumed coupon accruals of €15 million (net of tax) for the year ended December 31, 2024 related to the Perpetual Bonds in issue have been considered for the calculation of the basic and diluted earnings available for distribution. Diluted earnings per share is calculated by adjusting the weighted average number of ordinary shares outstanding to assume conversion of all dilutive potential ordinary shares which are primarily related to the share-based compensation plans. A calculation is done to determine the number of shares that could have been acquired at fair value based on the monetary value of the subscription rights attached to outstanding share options. The number of shares calculated as above is compared with the number of shares that would have been issued assuming the exercise of the share options and the difference, if it results in a dilutive effect, is considered to adjust the weighted average number of shares. Because the impact of these items is anti-dilutive during periods of net loss, there is no difference between basic and diluted loss per ordinary share for periods with net losses. Profit/(loss) attributable to the owners of the parent for calculating basic and diluted earnings per share, adjusted to include the assumed coupon net of tax:

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