Company: SGBAF
Filing Date: 2025-05-08
Form Type: F-4/A
Source: 0001193125-25-115825
Chunk: 322

Company: SES S.A.
Filing Date: 2025-05-08
Form: F-4/A
Chunk 322
---
 the computation of earnings per share (see Note 12).

| 2 | Cash-settled share-based compensation plans |

A liability is recognized for the fair value of cash-settled transactions. The fair value is measured initially at each reporting date up to and including the settlement date, with changes in fair value recognized in employee benefits expense. The fair value is expensed over the period until the vesting date with recognition of a corresponding liability. Further details are given in Note 26. Deeply Subordinated Fixed Rate Resettable Securities The Deeply Subordinated Fixed Rate Securities (“Perpetual Bond”) issued by the Company are classified as equity when the Company has no contractual obligation to redeem the securities, and coupon payments may be deferred under certain circumstances (more details are given in Note 24) and recorded at fair value at inception. Subsequent changes in fair value are not recognized in equity. Coupon accruals are considered in the determination of earnings for calculating earnings per share (see Note 12). Subsequent changes in fair value are not recognized in the financial statements. The Perpetual Bonds are presented as borrowings from the point at which the Group issues a Notice of Redemption to bondholders (see Notes 24 and 27). Deeply Subordinated Fixed Rate Securities issued by the Company, such as the Hybrid Bond (see Note 27) are classified as borrowings at inception when the Company has a contractual obligation to redeem the securities and make coupon payments. Leases The determination as to whether an arrangement is, or contains, a lease is based on the substance of the arrangement at the inception date, primarily whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Control is conveyed where the Group as lessee has both the right to direct the identified asset’s use and to obtain substantially all the economic benefits from that use. Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments:

| • |     | fixed payments (including in-substance fixed payments), less any lease 
 incentives receivable;                                                 |

| • |     | variable lease payments that are based on an index or a rate; |

| • |     | amounts expected to be payable by the lessee under residual value guarantees; |

| • |     | the exercise price of a purchase option if the lessee is reasonably certain to exercise that option; and |

| • |     | payments of penalties for