Company: SGBAF
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001193125-25-120606
Chunk: 331

Company: SES S.A.
Filing Date: 2025-05-15
Form: 424B3
Chunk 331
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: EUR 26 million, 2022: EUR 194 million) with EUR 290 million of impairment charges (2023: EUR 56 million, 2022: EUR 194 million) being offset by EUR 74 million in reversals of previous impairment charges (2023: EUR 30 million, 2022: nil). The charges and reversals are the aggregation of impairment testing procedures on specific satellites, or combinations of co-locatedsatellites, in the Group’s geostationary fleet and are caused by changes in the underlying business plans for these assets as compared to the prior year, and also the higher discount rate applied to assets with predominantly USD cash inflows. As discussed in Note 2, from January 1, 2024 the Group performs an impairment test on space segment assets together with orbital slot rights. The following table discloses the applicable amounts and post-taxdiscount rates used in the impairment test for those geostationary satellites and orbital slot rights subject to impairment charges or reversals during the years.

| € million            |     | Value-in-use |       |     | Discount rate |            |   |     | Satellite  
 impairment |     |   |     | Slot       
 impairment |      |   |
| 2024 – GEO Charges   |     |              |   750 |     |               |        8.9 | % |     |            | 237 |   |     |            |   93 |   |
| 2024 – GEO Reversals |     |              | 1,005 |     |               | 6.8% - 8.9 | % |     |            | (74 | ) |     |            | (186 | ) |
| 2024 – MEO Charges   |     |              | 1,419 |     |               |        8.9 | % |     |            |  53 |   |     |            |    — |   |
| 2024 – Net Impact    |     |              |       |     |               |            |   |     |            | 216 |   |     |            |  (93 | ) |

As discussed in Note 2, in relation to the disaggregation of CGUs, management has begun to use currency-based discount rates in line with the underlying cash flows of the assets tested. For 2023 and 2022, the following table discloses the applicable amounts and pre-taxdiscount rates used in