Company: SGBAF
Filing Date: 2025-05-08
Form Type: F-4/A
Source: 0001193125-25-115825
Chunk: 306

Company: SES S.A.
Filing Date: 2025-05-08
Form: F-4/A
Chunk 306
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 proportionate share of the acquiree’s identifiable net assets. Acquisition costs incurred are expensed and included in other operating expenses. When the Group acquires a business, it assesses the financial assets acquired and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions as at the acquisition date. Assets acquired, and liabilities assumed, are recognized at fair value. F-23

Consolidated financial statements as of and for the years ended December 31, 2024, December 31, 2023 and December 31, 2022 The excess of the:

| • |     | consideration transferred; |

| • |     | amount of any non-controlling interest in the acquired entity; and |

| • |     | acquisition-date fair value of any previous equity interest in the acquired entity; |

over the fair value of the net identifiable assets acquired is recorded as goodwill. If those amounts are less than the fair value of the net identifiable assets of the business acquired, the difference is recognized directly in profit or loss as a bargain purchase. Where settlement of any part of cash consideration is deferred, the amounts payable in the future are discounted to their present value as at the date of exchange. If the business combination is achieved in stages, the acquisition date carrying value of the Group’s previously held equity interest in the acquiree is remeasured to fair value at the acquisition date through profit or loss. Any contingent consideration to be transferred by SES will be recognized at fair value at the acquisition date. Subsequent changes to the fair value of the contingent consideration which is deemed to be an asset, or a liability, will be recognized in profit or loss. Property, plant and equipment Property, plant and equipment is initially recorded at historical cost, representing either the acquisition or manufacturing cost. Satellite cost includes the launcher and launch insurance. The impact of changes resulting from a revision of management’s estimate of the cost of property, plant and equipment is recognized in the consolidated income statements in the period concerned. Right-of-useassets are measured at cost comprising the following:

| • |     | the amount of the initial measurement of the corresponding lease liability; |

| • |     | any payments made at or before the commencement date of the lease, less any lease incentives received; |

| • |     | any initial direct costs; and |

| • |     | restoration costs. |

Payments associated with short-term leases and leases of low-valueassets are recognized on a straight-line basis as an expense in profit or loss. Short