Company: SGBAF
Filing Date: 2025-05-08
Form Type: F-4/A
Source: 0001193125-25-115825
Chunk: 264

Company: SES S.A.
Filing Date: 2025-05-08
Form: F-4/A
Chunk 264
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 for income taxes.

During the ordinary course of business, there are transactions and calculations for which the ultimate tax determination is uncertain.
Intelsat evaluates its tax positions to determine if it is more likely than not that a tax position is sustainable, based solely on its technical merits and presuming the taxing authorities have full knowledge of the position and access to all
relevant facts and information. When a tax position does not meet the more likely than not standard, Intelsat records a liability or contra asset for the entire amount of the unrecognized tax impact. Additionally, for those tax positions that are
determined more likely than not to be sustainable, Intelsat measures the tax position at the largest amount of benefit more likely than not (determined by cumulative probability) to be realized upon settlement with the taxing authority.

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Pension and Other Postretirement Benefits

Intelsat maintains a noncontributory defined benefit retirement plan covering substantially all of its employees hired prior to July 19,
2001. The cost of providing benefits to eligible participants under the defined benefit retirement plan is calculated using the plan’s benefit formulas, which take into account the participants’ remuneration, dates of hire, years of
eligible service, and certain actuarial assumptions. In addition, as part of the overall medical plan, Intelsat provides postretirement medical benefits to certain current retirees who meet the criteria under the medical plan for postretirement
benefit eligibility.

Expenses for Intelsat’s defined benefit retirement plan and for postretirement medical benefits that are
provided under its medical plan are developed from actuarial valuations. Any significant decline in the fair value of Intelsat’s defined benefit retirement plan assets or other adverse changes to the significant assumptions used to determine
the plan’s funded status would negatively impact its funded status and could result in increased funding in future periods.

Key
assumptions, including discount rates used in determining the present value of future benefit payments and expected return on plan assets, are reviewed and updated on an annual basis. The discount rates reflect market rates for high-quality
corporate bonds. Intelsat considers current market conditions, including changes in interest rates, in making assumptions. The Society of Actuaries (“SOA”) published mortality tables for private retirement plans (“Pri-2012”) and
a mortality improvement scale in 2021 (“MMP-2021”). Accordingly, Intelsat’s December 31, 2024 valuation is based on Pri-2012 and MMP-2021,