Company: SGBAF
Filing Date: 2025-04-29
Form Type: F-4
Source: 0001193125-25-103898
Chunk: 304

Company: SES S.A.
Filing Date: 2025-04-29
Form: F-4
Chunk 304
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 of the asset. All other borrowing costs are recognized as an expense in the period in which they are incurred. Intangible assets

| 1 | Goodwill |

Goodwill is measured as described in the accounting policy for business combinations set out in Note 2. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For impairment testing, goodwill from the acquisition date is allocated to each of the Group’s CGUs that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the Group are assigned to those units. The carrying value of acquisition goodwill is not amortized, but rather is tested for impairment annually, or more frequently if required to establish whether the value is still recoverable. The recoverable amount is defined as the higher of: (1) fair value less costs to sell and, (2) value-in-use.Impairment expenses are recorded in the consolidated income statements. Impairment losses relating to goodwill cannot be reversed in future periods. The Group estimates value-in-usebased on the estimated discounted cash flows to be generated by a CGU, generally using the five-year business plans approved by the Board of Directors. Beyond a five-year period, cash flows are usually estimated on the basis of stable rates of growth or decline, although longer periods may be considered where relevant to accurately calculate the value-in-use. F-25

Consolidated financial statements as of and for the years ended December 31, 2024, December 31, 2023 and December 31, 2022 Where goodwill forms part of a CGU and part of the operation within that unit is disposed of, then the goodwill associated with the operation disposed of is included in the carrying amount of the operation when determining the gain or loss on its disposal. Goodwill disposed of in this situation is measured based on the relative values of the operation disposed of and the portion of the CGU unit retained.

| 2 | Other intangibles |

| i | Orbital slot rights |

Other intangibles consist mainly of rights of usage of orbital frequencies. The Group is authorized by governments to operate satellites at certain orbital locations. Governments acquire rights to these orbital locations through filings made with the International Telecommunication Union (‘ITU’), a sub-organizationof the United Nations. The Group will continue to have rights to operate at its orbital locations so long as it maintains its authorizations to do so. The straight-line amortization lives applied from January 2024 range from 1 to 21 years. As noted