Company: SGBAF
Filing Date: 2025-04-01
Form Type: DRS/A
Source: 0000950123-25-003272
Chunk: 321

Company: SES S.A.
Filing Date: 2025-04-01
Form: DRS/A
Chunk 321
---
 (134 | ) |     |              | (110 | ) |
| Tangible assets                         |     |              |   5 |   |     |              |   5 |   |     |              |  (59 | ) |     |              |  (83 | ) |
| Trade and other receivables             |     |              |  20 |   |     |              |  17 |   |     |              |    — |   |     |              |    — |   |
| Other                                   |     |              |  18 |   |     |              |   5 |   |     |              |  (47 | ) |     |              |  (48 | ) |
| Total deferred tax assets/(liabilities) |     |              | 729 |   |     |              | 707 |   |     |              | (240 | ) |     |              | (241 | ) |
| Offset of deferred taxes                |     |              | (28 | ) |     |              | (36 | ) |     |              |   28 |   |     |              |   36 |   |
| Net deferred tax assets/(liabilities)   |     |              | 701 |   |     |              | 671 |   |     |              | (212 | ) |     |              | (205 | ) |

Deferred tax assets have been offset against deferred tax liabilities where they relate to the same tax authority and the entity concerned has a legally enforceable right to set off current tax assets against current tax liabilities. F-45

Confidential Treatment Requested by SES

Pursuant to 17 C.F.R. Section 200.83

Consolidated financial statements

as of and for the years ended December 31, 2024, December 31, 2023 and December 31, 2022

Losses carried forward

In 2024 the Group recognized a deferred tax asset (‘DTA’) for tax losses carried forward in Luxembourg of EUR 35 million (2023:
EUR 356 million). Tax losses can be carried forward in Luxembourg for 17 years. As a result of the change in the Luxembourg corporate income tax rate from 27.19% to 26.12% effective from January 1, 2025, the
year-end deferred tax assets linked to losses carried forward have decreased by EUR 26 million. Using the estimated future taxable income based on the