Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 187

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 187
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 by SES

Pursuant to 17 C.F.R. Section 200.83

SES operates in numerous tax jurisdictions and management is required to assess tax issues
and exposures across its entire operations and to accrue for potential liabilities based on its interpretation of country-specific tax law and best estimates. Also, judgement needs to be applied in respect of transfer pricing structures and hence
potential tax exposures which may be identified in the different jurisdictions where SES operates. SES reviews in detail the transfer pricing structures in place and records provisions where this seems appropriate on a
case-by-case basis.

SES recognizes deferred tax assets
primarily in connection with the carry-forward of unused tax losses and tax credits. SES reviews the tax position in the different jurisdictions in which it operates to assess the need to recognize such assets based mainly on projections of taxable
profits to be generated in each of those jurisdictions. The carrying amount of each deferred tax asset is reviewed at each reporting date and reduced to the extent that current projections indicate that it is no longer probable that sufficient
taxable profits will be available to enable all, or part, of the asset to be recovered.

The accounting policy for taxation is explained
in Note 2 to SES consolidated financial statements. The income taxes are explained in Note 8 to SES’s consolidated financial statements beginning and the recognized deferred tax assets and liabilities are shown in Note 9 to SES consolidated
financial statements. Other provisions for liabilities and charges are as set out in Note 26 to SES’s consolidated financial statements.

Business combinations

In respect of business combinations, significant estimates and assumptions relate to the estimation of the fair values of
acquired net assets arising in a business combination and the allocation of the purchase consideration between the underlying net assets acquired, including intangible assets other than goodwill, based on their fair values. These estimates are
prepared in conjunction with the advice of independent valuation experts, where appropriate. The relevant transactions are described in Notes 2 ,3 and 15 to SES’s consolidated financial statements.

Consolidation of entities in which the Group holds 50% or less

Judgement is applied in the determination as to whether control (subsidiaries), joint control (joint arrangements), or significant influence
(associates) exists in relation to the investments held by SES. SES consolidates a subsidiary where it has: power over the subsidiary; exposure, or rights, to variable returns from that subsidiary; and the ability to use its power over the
subsidiary to affect the amount of the Group’s returns. This is assessed after