Company: SGBAF
Filing Date: 2025-04-29
Form Type: F-4
Source: 0001193125-25-103898
Chunk: 160

Company: SES S.A.
Filing Date: 2025-04-29
Form: F-4
Chunk 160
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     |          | — |     |                   |    415 |   |     |            | —   |   |     |          |   415 |     |          |   400 |
| Total current liabilities                                         |     |             |   701 |   |     |                                                     |    3 |   |     |             | (3   | ) |     |            |   — |     |              | — |     |        |    — |   |     |         |   — |   |     |          | — |     |                   |      — |   |     |            | —   |   |     |          |   701 |     |          |   675 |
| Total liabilities                                                 |     |             | 5,211 |   |     |                                                     | (137 | ) |     |             | (25  | ) |     |            |   — |     |              | — |     |        |    — |   |     |         |  41 |   |     |          | — |     |                   |      — |   |     |            | (1  | ) |     |          | 5,089 |     |          | 4,898 |
| Total equity and liabilities                                      |     |             | 8,868 |   |     |                                                     | (206 | ) |     |             | (768 | ) |     |            | 247 |     |              | — |     |        |  (11 | ) |     |         |  23 |   |     |          | 4 |     |                   |      — |   |     |            | (95 | ) |     |          | 8,062 |     |          | 7,759 |

112

Note 3 – Intelsat Group – U.S. GAAP to IFRS differences and alignment of accounting policies, estimates and presentation to SES

For the Intelsat Group, the consolidated statement of operations for the year ended
December 31, 2024 and the consolidated balance sheet as at December 31, 2024 have been prepared in accordance with U.S. GAAP. As SES’s consolidated IFRS financial statements have a different presentation of the income statement and
statement of financial position compared with the Intelsat Group’s U.S. GAAP financial statements and accounting records, reclassifications were performed in order to align the Intelsat Group presentation to that