Company: SGBAF
Filing Date: 2025-04-23
Form Type: DRS/A
Source: 0000950123-25-003652
Chunk: 197

Company: SES S.A.
Filing Date: 2025-04-23
Form: DRS/A
Chunk 197
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     81 |   |
| Add: Tax expense in respect of impairment expenses on the carrying value of subsidiary  
 investments and other assets eliminated at consolidation level                          |     |      |  (7 | ) |     |      |     20 | * |
| Adjusted Net Profit                                                                     |     |      | 126 |   |     |      |    215 |   |

| * | Includes valuation allowance on deferred tax assets for ITCs, triggered by impairments |

| ** | Includes tax on other income, restructuring charges, costs associated with the development and / or                                                        
 implementation of merger and acquisition activities, specific business taxes of a non-recurring nature and infrastructure costs of a non-recurring nature. |

Adjusted Earnings per Share is the Adjusted Net Profit/(Loss), including an assumed coupon net of tax, divided by the weighted average number of shares. SES believes that Adjusted Earnings per Share is useful to investors to assist in making investment decisions. For FY 2024, Adjusted Earnings per Share of €0.26 per Class A share (2023: €0.41), and €0.10 per Class B share (2023: €0.16) have been calculated on the following basis:

| €million                                      |     | 2024 |     |   |     | 2023 |     |   |
| Adjusted Net Profit                           |     |      | 126 |   |     |      | 215 |   |
| Assumed coupon on perpetual bond (net of tax) |     |      | (15 | ) |     |      | (36 | ) |
| Total                                         |     |      | 111 |   |     |      | 179 |   |
| Split between:                                |     |      |     |   |     |      |     |   |
| Class A shares (in million)1                  |     |      |  92 |   |     |      | 149 |   |
| Class B shares (in million)2                  |     |      |  19 |   |     |      |  30 |   |

| 1 | Calculated as 83% of adjusted loss attributable to owners of the parent, based on the weight of the 
 Class A weighted average number of shares out of the total shares.                                  |

| 2 | Calculated as 17% of adjusted loss attributable to owners of the parent, based on the weight of the 
 Class B