Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 331

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 331
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 To facilitate the clearing of the spectrum SES procured six C-bandsatellites and necessary launch vehicles. The Group’s ground facilities were also consolidated and upgraded to comply with the provisions of the Order, with customers and affiliated earth stations being equipped with special filters, new antennae and/or other capabilities so that they can be migrated to work with services operating in the remaining 200 MHz of spectrum (between 4,000 MHz and 4,200 MHz) available to satellite operators. SES filed its Phase I Certification of Accelerated Relocation with the FCC on October 1, 2021 and an amended certificate on October 26, 2021. The FCC validated the amended certificate on November 24, 2021, at which time the EUR 839 million (USD 977 million) of Accelerated Relocation Payments were fully earned. SES received the Accelerated Relocation Payments on December 29, 2021 and January 3, 2022. SES filed its Phase II Certification of Accelerated Relocation with the FCC on July 10, 2023. The FCC validated the certificate on August 9, 2023, at which time the EUR 2,714 million (USD 2,991 million) of Accelerated Relocation Payments were fully earned. SES received the Accelerated Relocation Payments between August 24, 2023 and October 13, 2023. Since the C-bandrepurposing project is not the result of a contract with a customer, the proceeds are not accounted for as revenue but rather as ‘C-bandrepurposing income’. For capitalized costs related to the procurement of the C-bandsatellites, launches, and upgraded ground facilities, the Group recorded credits to the recorded book values of the related asset when the costs had been incurred and the Group had obtained reasonable assurance that the costs will be reimbursed and that it will comply with the requirements attached to the reimbursement. The costs and expected reimbursements F-89

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 recorded in the consolidated statement of financial position under “Assets in the course of construction” (Note 14) are presented in the following table:

| € million                                       
 Cost as of January 1, 2022                      |     | Space   
 segment |   668 |   |     | Ground  
 segment