Company: SGBAF
Filing Date: 2025-04-01
Form Type: DRS/A
Source: 0000950123-25-003272
Chunk: 332

Company: SES S.A.
Filing Date: 2025-04-01
Form: DRS/A
Chunk 332
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 in the course of construction space segment within the consolidated statements of financial position and are included ‘Payments for purchases of tangible assets’ within the consolidated statements of cash flows, only to the extent that payments were made to the suppliers. C-bandreimbursements in respect of capital expenditures are presented in Note 36. The main space segment additions in 2023 were for O3b mPOWER in amount of EUR 85 million, replacements satellites for the orbital positions 19.2°E and 57°E for EUR 71 million (Note 31) and additions of EUR 48 million in respect of C-bandsatellites, substantially offset by EUR 36 million of C-bandexpected reimbursements (Note 36). The additions for the C-bandrepurposing are included in the Group’s assets in the course of construction space segment within the consolidated statements of financial position and are included ‘Payments for purchases of tangible assets’ within the consolidated statements of cash flows, only to the extent that payments were made to the suppliers. In connection with space segment additions in 2022, the Group recognized EUR 315 million in respect of C-bandsatellites, partly offset by EUR 311 million C-bandexpected reimbursements (Note 36), EUR 218 million in respect of the O3b mPOWER arrangement described in Note 31, EUR 207 million in respect of procurement of satellites in connection with replacements of Astra 19.2°E and NSS-12at 57°E and EUR 1 million associated with SES-17.Due to the nature of the arrangements, these transactions are included in the Group’s assets in the course of construction space segment within the consolidated statements of cash flows and are included in ‘Payments for purchases of tangible assets’ within the consolidated statements of cash flows only to the extent that payments were made to the suppliers. F-55

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, 2024, December 31, 2023 and December 31, 2022 In 2023, in conjunction with the annual impairment test, SES recorded an impairment charge of EUR 425 million against the assets under construction related to certain mPOWER satellites, reflecting technical issues arising on those satellites during on-orbittesting and the impact of those on the commercialization assumptions of the overall program. No impairment charge to assets in the course of construction was required