Company: SGBAF
Filing Date: 2025-05-08
Form Type: F-4/A
Source: 0001193125-25-115825
Chunk: 328

Company: SES S.A.
Filing Date: 2025-05-08
Form: F-4/A
Chunk 328
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 in 2024 and 2023 reflects C-Band Accelerated Relocation Proceeds received (see Note 36) |

| 2 | Net foreign exchange gains are mostly related to revaluation of bank accounts, deposits and other monetary 
 items denominated in US dollars.                                                                           |

Note 8—Other non-operatingincome / expenses

| € million                            |     | 2024 |    |   |     | 2023 |   |     | 2022 |     |   |
| Other non-operating income           |     |      |    |   |     |      |   |     |      |     |   |
| Income from structured financing     |     |      | 17 |   |     |      | — |     |      | —   |   |
| Fair value increases on financial    
 assets1                              |     |      |  5 |   |     |      | — |     |      | —   |   |
| Total                                |     |      | 22 |   |     |      | — |     |      | —   |   |
| Other non-operating expenses         |     |      |    |   |     |      |   |     |      |     |   |
| Fair value losses on other financial 
 assets1                              |     |      | (1 | ) |     |      | — |     |      | (15 | ) |
| Total                                |     |      | (1 | ) |     |      | — |     |      | (15 | ) |

| 1 | Represents fair value increases/ losses on assets included as part of ‘Other financial assets’ in the 
 consolidated statements of financial position and required to be measured at fair value               |

F-42

Consolidated financial statements as of and for the years ended December 31, 2024, December 31, 2023 and December 31, 2022 Note 9—Income taxes Taxes on income comprise the taxes paid or owed in the individual countries, as well as deferred taxes. Current and deferred taxes can be analyzed as follows:

| € million                                                                                 |     | 2024 |     |   |     | 2023 |      |   |     | 2022 |      |   |
| Current income tax                                                                        |     |      |     |   |     |      |      |   |     |      |      |   |
| Current income tax charge on result of the year