Company: SGBAF
Filing Date: 2025-04-23
Form Type: DRS/A
Source: 0000950123-25-003652
Chunk: 310

Company: SES S.A.
Filing Date: 2025-04-23
Form: DRS/A
Chunk 310
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 investments in associates are recognized in the consolidated income statements. The Group ceases to use the equity method of accounting on the date from which it no longer has significant influence over the associate, or when the interest becomes classified as an asset held for sale. Significant accounting judgments and estimates

| 1 | Changes in accounting estimates |

In 2024 management has made three changes to the judgments and estimates applied for the financial year ended December 31, 2023 as described below:

| i. | The alignment of the treatment of all orbital slot rights to be definite-life intangible assets |

GEO orbital slot rights Up until 2023, the Group’s accounting estimate concerning the appropriate useful economic life of GEO orbital slot rights has been that they will be of indefinite life unless there was something in the terms of the license to indicate that they could either not be renewed at the end of the term, or that such a renewal would not be at insignificant cost. Following this assumption, as at the end of 2023 the Group disclosed EUR 326 million of indefinite life orbital slot rights and EUR 107 million of definite-life rights. The Company applied an indefinite life as it was expected that it would maintain operations at all the relevant GEO orbital locations and hence was consistent with the provision in paragraph 88 of IAS 38 below: “An intangible asset shall be regarded by the entity as having an indefinite useful life when there is no foreseeable limit to the period over which the asset is expected to generate net cash inflows for the entity.” F-17

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, 2024, December 31, 2023 and December 31, 2022 The Company is now evolving in the direction of a multi-orbit provider of satellite services and hence is diverting a large part of its capital expenditure to non-GEOorbit satellite procurement. For that reason, the number of occupied operational GEO slots is likely to decline over time and management no longer believes that the level of certainty as to foreseeable future operations implied by paragraph 88 of IAS 38 is met. For that reason, management has updated its estimate in this area such that all GEO orbital slot rights are now presented as definite-life assets. For those rights which were formerly presented as indefinite life assets, their residual carrying value will generally be amortized over the remaining life of the on-stationsatellite operating at that