Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 286

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 286
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 for Luxembourg
entities, the Company has concluded that prior year ITCs cannot be used due to a 10 year carry forward limitation rule. Therefore, a valuation allowance of EUR 218 million (2022: EUR 110 million) on a deferred tax asset for ITCs for the
Luxembourg fiscal unity was recorded in 2023.

Considering the total tax losses carried forward and future taxable income based on the most
recent business plan information for LuxGovSat S.A., the Company has concluded that LuxGovSat S.A. can recognize a DTA of EUR 6 million for future use of ITCs (2022: EUR 6 million).

Other

No deferred income tax liabilities
have been recognized for withholding tax and other taxes which would be payable on the unremitted earnings of certain subsidiaries. Such amounts are permanently reinvested or not subject to taxation.

F-43

Confidential Treatment Requested by SES Pursuant to 17 C.F.R. Section 200.83 Consolidated financial statements as of and for the years ended December 31, 2023 and December 31, 2022 Movement in deferred income tax assets and liabilities The movement in deferred income tax assets and liabilities during the years, without taking into consideration the offsetting of balances, is as follows:

| Deferred tax assets                        
 Balance as of January 1, 2022              |     | Losses  
 carried 
 forward | 301 |   |     | Tax     
 credits |  259 |   |     | Tangible 
 assets   | — |     | Intangible 
 assets     | 23 |   |     | Trade and   
 other       
 receivables | 19 |   |     | Other | 5 |     | Total | 607 |   |
|:-------------------------------------------|:----|:--------|----:|:--|:----|:--------|-----:|:--|:----|:---------|--:|:----|:-----------|---:|:--|:----|:------------|---:|:--|:----|:------|--:|:----|:------|----:|:--|
| (Charged)/credited to the income statement |     |         |  (7 | ) |     |         |  (53 | ) |     |          | — |     |            | (4 | ) |     |             | (5 | ) |     |       | — |     |       | (69 |