Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 258

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 258
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 an outstanding unpaid receivable of USD 386 million or EUR 350 million as of December 31, 2023 (compared to EUR 480 million in 2022). Management believes that this outstanding balance will be refunded based on the track record of past refunds, which indicate that the majority of SES’s claims have been approved and refunded. Besides, ongoing discussions with the Clearinghouse suggest a mutual interest in expediting the remaining satellite reimbursements. Business combinations Business combinations are accounted for using the acquisition method. The consideration transferred for the acquisition of the subsidiary is measured as the aggregate of the:

| • |     | fair value of the assets transferred; |

| • |     | liabilities incurred to the former owners of the acquired business; |

| • |     | equity interests issued by the Group; |

| • |     | fair value of any asset or liability resulting from a contingent consideration agreement; and |

| • |     | fair value of any pre-existing equity interest in the subsidiary. |

For each business combination, SES measures the non-controllinginterest in the acquiree either at fair value or at the 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. 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. F-21

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 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 acquire