Company: SGBAF
Filing Date: 2025-05-08
Form Type: F-4/A
Source: 0001193125-25-115825
Chunk: 361

Company: SES S.A.
Filing Date: 2025-05-08
Form: F-4/A
Chunk 361
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urchase amounted to EUR 35 million and the repurchase resulted in EUR 2 million gain being recorded in
‘Other reserves’. In accordance with the terms and conditions of the Securities, the purchased Securities will be canceled. Following these transactions, the outstanding principal amount of the Securities at the year-end was EUR 588 million.

The Company may, at its discretion, elect to defer all or part of any
interest payment. Coupon accruals may be paid at the option of the Company in whole or in part at any time. Coupons become payable under the following circumstances: whenever the Company makes dividend payments or other distributions in respect of
any junior obligations or parity obligations of the Company or the guarantor (SES Americom Inc.); whenever the Company or the guarantor elects to redeem, repurchase or otherwise acquire any junior obligations or parity obligations; whenever the
Company does not elect to defer all of the interest accrued in respect of the relevant interest period; or upon redemption or repayment of the securities.

Other reserves

In accordance with
Luxembourg legal requirements, a minimum of 5% of the yearly statutory net profit of the Company is transferred to a legal reserve which is non-distributable. This requirement is satisfied when the reserve
reaches 10% of the issued share capital. As of December 31, 2024 a legal reserve of EUR 70 million (2023: EUR 72 million, 2022: EUR 72 million) is included within other reserves.

Other reserves include a non-distributable amount of EUR 198 million (2023: EUR 95 million,
2022: EUR 80 million) linked to treasury shares, and an amount of EUR 54 million (2023: EUR 101 million, 2022: EUR 142 million) representing the net worth tax reserve for 2018-2019 (2023: representing the net worth tax reserve for
2018-2019, 2022: representing the net worth tax reserve for 2017-2019), for which the distribution would result in the payment of net worth tax at a rate of up to 20% of the distributed reserve in accordance with Luxembourg law requirement.

F-74

Consolidated financial statements as of and for the years ended December 31, 2024, December 31, 2023 and December 31, 2022 Note 25—Non-controllinginterests Set out below is the summarized financial information for each subsidiary that has non-controllinginterest