Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 253

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 253
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 of purchase accounting procedures. F-17

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 In the cases when, on the expiry of such rights, management believes it will be able to successfully re-applyfor their usage at insignificant incremental cost, then such rights are deemed to have an indefinite life. Hence these assets are not amortized, but rather are subject to regular impairment reviews to confirm that the carrying value in the Group’s financial statements is still appropriate. More details are given in Note 15.

| ii | Taxation |

The Group operates in numerous tax jurisdictions and management is required to assess tax issues and exposures across its entire operations and to accrue for potential liabilities based on its interpretation of country-specific tax law and best estimates. In conducting this review management assesses the magnitude of the issue and the likelihood, based on experience and specialist advice, as to whether it will result in a liability for the Group. If this is deemed to be the case, then a provision is recognized for the potential taxation charges. More details are given in Notes 8 and 26. One significant area of management judgement is around transfer pricing. Whilst the Group employs dedicated members of staff to establish and maintain appropriate transfer pricing structures and documentation, judgement still needs to be applied and hence potential tax exposures can be identified in the different jurisdictions where the Group operates. The Group, as part of its overall assessment of liabilities for taxation, reviews in detail the transfer pricing structures in place and records provisions where this seems appropriate on a case-by-casebasis.

| iii | The impact of changes in inflation and interest rates |

The Group has considered the potential impact of changes in inflation and interest rates during the period on its financial statements particularly in its estimations of future cash flows and assumptions about financing costs. The main effect observed in 2023 has been a decrease in discount rates used to reflect the time value of money and adjustments to cash flows to account for the effect of general inflation principally impacting the valuation of assets. The main effect observed in 2022 has been an increase in discount rates used to reflect the time value of money and adjustments to cash flows to account for the effect of general inflation principally impacting the valuation of assets. Please refer to Note 15 (‘Intangible assets’) for further details.

| iv | Consolidation of entities in which the Group holds 50% or less