Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 262

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 262
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 their fair value at the date of acquisition, based on internal analysis or more commonly through a third-party valuation at the time of the business combination, and are subsequently amortized on a straight-line based over the expected useful economic life of the asset.

| iii | Software and development costs |

Costs associated with maintaining computer software are recognised as an expense as incurred. Development costs that are directly attributable to the design and testing of identifiable and unique software products controlled by the Group are recognised as intangible assets when the following criteria are met:

| • |     | it is technically feasible to complete the software product so that it will be available for use; |

| • |     | management intends to complete the software product and use or sell it; |

| • |     | there is an ability to use or sell the software product; |

| • |     | it can be demonstrated how the software product will generate probable future economic benefits; |

| • |     | adequate technical, financial and other resources to complete the development and to use or sell the software 
 product are available; and                                                                                    |

| • |     | the expenditure attributable to the software product during its development can be reliably measured. |

Directly attributable costs that are capitalized as part of the software product include the software development employee costs and an appropriate portion of relevant overheads. Other development expenditures that do not meet these criteria are recognized as an expense as incurred. Software development costs recognized as assets are amortized over their estimated useful life, not exceeding seven years. Impairment of other intangible assets, property, plant & equipment and assets in the course of construction The Group assesses at each reporting date whether there is an indication that the carrying amount of the assets may not be recoverable. If such an indication exists then the recoverable amount of the asset or CGU is reviewed to determine the amount of the impairment, if any. Impairments can arise from complete or partial failure of a satellite as well as other changes in expected discounted future cash flows. Such impairment tests are based on a recoverable value determined using estimated future cash flows and an appropriate discount rate. The estimated cash flows are based on the most recent business plans. If an impairment is identified, the carrying value will be written down to its recoverable amount. F-24

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, 2023 and December 31, 2022 Investments