Company: SGBAF
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001193125-25-120606
Chunk: 451

Company: SES S.A.
Filing Date: 2025-05-15
Form: 424B3
Chunk 451
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 was enacted, and on March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was enacted. The FFCR Act and the CARES Act contain numerous income tax provisions, such as increasing the 30 percent adjusted taxable income threshold to 50 percent for taxable years beginning in 2019 and 2020 for purposes of determining allowable business interest expense deductions. The CARES Act repeals the 80 percent limitation for taxable years beginning before January 1, 2021 (enacted by the U.S. Tax Cut and F-159

Jobs Act), and it further specifies that net operating losses arising in a taxable year beginning after December 31, 2017, and before January 1, 2021, are allowed as a carryback to each of the five taxable years preceding the taxable year of such losses. Modifications to the tax rules for the carryback of net operating losses and business interest limitations resulted in a federal tax refund of approximately $53.5 million as of December 31, 2024. On August 16, 2022, the U.S. government enacted the Inflation Reduction Act of 2022 (the “Inflation Reduction Act”), which includes, among other provisions, changes to the U.S. corporate income tax system, including a 15% minimum tax based on average adjusted financial statement income exceeding $1.0 billion for any three consecutive years preceding the tax year and a 1% excise tax on net repurchases of stock in excess of $1.0 million after December 31, 2022. We did not have a material financial impact from the Inflation Reduction Act during 2024. The following table summarizes our total income (loss) before income taxes (in thousands):

|                                            |     | Predecessor       
 Two Months Ended  
 February 28, 2022 |           |     | Successor         
 Ten Months Ended  
 December 31, 2022 |          |      |     | Year Ended        
 December 31, 2023 |         |     | Year Ended        
 December 31, 2024 |          |   |
|:-------------------------------------------|:----|:------------------|----------:|:----|:------------------|---------:|:-----|:----|:------------------|--------:|:----|:------------------|:---------|:--|
| Domestic income (loss) before income taxes |     | $                 | 3