Company: SGBAF
Filing Date: 2025-04-29
Form Type: F-4
Source: 0001193125-25-103898
Chunk: 314

Company: SES S.A.
Filing Date: 2025-04-29
Form: F-4
Chunk 314
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 from the application of these principles are included in the consolidated income statements. The Group considers that monetary long-term receivables or loans with a subsidiary that is a foreign operation for which settlement is neither planned nor likely to occur in the foreseeable future is, in substance, a part of the entity’s net investment in that foreign operation. The related foreign exchange differences and income tax effect of the foreign exchange differences are included in the foreign currency translation reserve within equity. On disposal of a foreign operation, the deferred cumulative amount recognized in equity relating to that foreign operation is reclassified to the consolidated income statements. Goodwill and fair value adjustments arising on the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and translated at the closing rate. The assets and liabilities of consolidated foreign operations are translated into euro at the year-endexchange rates, while the income and expense items of these foreign operations are translated at the average exchange rate of the year. The related foreign exchange differences are included in the foreign currency translation reserve within equity. On disposal of a foreign operation, the deferred cumulative amount recognized in equity relating to that foreign operation is reclassified to the consolidated income statements as part of the gain or loss on disposal. The US dollar exchange rates used by the Group during the year were as follows:

|     |     | Average rate 
 for 2024     |        |     | Closing rate 
 for 2024     |        |     | Average rate 
 for 2023     |        |     | Closing rate 
 for 2023     |        |     | Average rate 
 for 2022     |        |     | Closing rate 
 for 2022     |        |
| USD |     |              | 1.0863 |     |              | 1.0389 |     |              | 1.0797 |     |              | 1.1050 |     |              | 1.0555 |     |              | 1.0666 |

F-33

Consolidated financial statements as of and for the years ended December 31, 2024, December 31, 2023 and December 31, 2022 Basic earnings per share The Company’s capital structure consists of Class A and Class B shares, entitled to the payment of annual dividends as approved by the shareholders at their annual meetings. Holders of Class B shares participate in earnings and are entitled to 40% of the dividends payable per Class A share. Basic earnings per share is calculated by dividing the net