Company: SGBAF
Filing Date: 2025-04-29
Form Type: F-4
Source: 0001193125-25-103898
Chunk: 414

Company: SES S.A.
Filing Date: 2025-04-29
Form: F-4
Chunk 414
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 accumulated amortization             |     |                        | (1,082,858 | ) |     |                      |       — |
| Total amortizable intangible assets, net   |     | $                      |    246,315 |   |     | $                    | 178,605 |

F-130

| (22) | Changes in other assets reflect fair value adjustments due to the adoption of Fresh Start Accounting based on                                                 
 the valuation methodology discussed above. The following table summarizes the components of other assets as of the Fresh Start Reporting Date (in thousands): |

|                                                               |     | Predecessor Historical 
 Value                  |         |     | Successor Fair Value |         |
|:--------------------------------------------------------------|:----|:-----------------------|--------:|:----|:---------------------|--------:|
| Fair value of equity investments (excluding Horizons-3        
 Satellite LLC)                                                |     | $                      |  37,061 |     | $                    |  55,803 |
| Investment in Horizons-3 Satellite LLC                        |     |                        | 103,586 |     |                      | 110,000 |
| Deferred cost of sales excluding C-band - non-current portion |     |                        |  51,907 |     |                      |  43,324 |
| Deferred cost of sales C-band - non-current portion           |     |                        |  24,827 |     |                      |  24,827 |
| Right of use assets                                           |     |                        | 294,407 |     |                      | 355,890 |
| Fair value of debt instruments                                |     |                        |  75,173 |     |                      |  55,967 |
| Deferred tax assets                                           |     |                        |  14,697 |     |                      |  22,707 |
| Other assets                                                  |     |                        | 129,600 |     |                      |  81,994 |
| Total other assets                                            |     | $                      | 731,258 |     | $                    | 750,512 |

| (23) | Changes in other current liabilities reflect the fair value adjustment for lease liabilities due to the 
 adoption of Fresh Start Accounting.                                                                     |

| (24) | Reflects the elimination of Predecessor debt issuance costs. |

| (25) | Changes in deferred income taxes reflects the adjustment due to the adoption of Fresh Start Accounting. |

| (26) | Changes in other long-term liabilities reflect the