Company: SGBAF
Filing Date: 2025-05-08
Form Type: F-4/A
Source: 0001193125-25-115825
Chunk: 344

Company: SES S.A.
Filing Date: 2025-05-08
Form: F-4/A
Chunk 344
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 in the GEO Europe CGU.                                                                                                                                                                 |

| • |     | For GEO North America, a 1% decrease in the perpetuity growth rate would increase the impairment charge by EUR                                                                                                                                  
 16 million and a 1% increase in the after-tax discount rate would increase the impairment charge by EUR 30 million; the combination of these two factors would increase the impairment charge by EUR                                            
 43 million. Taken separately from changes in discount and perpetuity growth rates, a 5% reduction in EBITDA would lead to an additional impairment expense of EUR 44 million. As GEO North America goodwill was fully impaired, this impairment 
 would affect GEO North America’s orbital slot rights.                                                                                                                                                                                           |

| • |     | For GEO International, a 1% decrease in the perpetuity growth rate would increase the impairment charge byEUR                                                                                                                                
 51 million and a 1% increase in the after-tax discount rate would increase the impairment charge by EUR 83 million; the combination of these two factors would increase the impairment charge by EUR                                         
 124 million. Taken separately from changes in discount and perpetuity growth rates, a 5% reduction in EBITDA would leadto additional impairment expense of EUR 32 million. As GEO International goodwill was fully impaired, this impairment 
 would affect GEO International’s orbital slot rights.                                                                                                                                                                                        |

For the 2022 testing:

| • |     | For GEO Europe, there would be no impairment even applying the most adverse combination of developments (a 1% 
 increase in after-tax discount rates and a 1% decrease in the perpetual growth rate).                         |

| • |     | For GEO North America, the recorded impairment would increase by EUR 17 million in the case of a 1% decrease                                                                                                                    
 in the perpetual growth rate, by EUR 47 million in the case of a 1% increase in the discount rate, and by EUR 60 million in the case of both a 1% decrease in the perpetual growth rate and a 1% increase in the discount rate. |

F-59

Consolidated financial statements as of and for the years ended December 31, 2024, December 31, 2023 and December 31, 2022

| • |     | For GEO International, there would not be an impairment in the case of a 1% decrease in the perpetuity growth                                                                                               
 rate. There would be an impairment charge of EUR 7 million in the case of a 1% increase in