Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 245

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 245
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 been prepared in
compliance with IFRS Accounting Standards as issued by the International Accounting Standards Board (‘IASB’).

The consolidated
financial statements have been prepared on a historical cost basis, except where fair value is required by IFRS Accounting Standards.

The
consolidated financial statements are presented in euro (EUR). Unless otherwise stated, all amounts are rounded to the nearest million, except share and earnings per share data and audit and non-audit fee
disclosures.

Recent accounting pronouncements

New standards and interpretations adopted by the Group

The following new and amended IFRS Accounting Standards were effective from January 1, 2023 and were adopted by the Group. Any new IFRS
Accounting Standards amendments, effective from January 1, 2023 and not mentioned below are not applicable to the Group.

Amendments to IAS 1 and IAS 8

On February 12, 2021, the IASB issued amendments to IAS 1 “Presentation of Financial Statements” regarding the disclosure of
accounting policies and as well amendments to IAS 8 “Accounting policies, changes in accounting estimates and errors” on the definition of accounting estimates. Both amendments aim to improve accounting policy disclosure and to help users
of the financial statements to distinguish between changes in accounting estimates and changes in accounting policies. The amendments are effective for annual periods beginning on or after January 1, 2023. The adoption of these amendments did
not have any material impact on the Group’s consolidated financial statements.

F-12

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 Amendments to IAS 12 deferred tax related to assets and liabilities arising from a single transaction On May 6, 2021, the IASB published the amendments to IAS 12 “Income taxes” regarding the deferred tax related to assets and liabilities arising from a single transaction, that clarifies how companies account for deferred tax on transactions such as leases and decommissioning obligations. The amendments are effective for annual periods beginning on or after January 1, 2023. The adoption of these amendments did not have any material impact on the Group’s consolidated financial statements. Amendments to IAS 12 International tax reform On May 23, 2023, the IASB published “International Tax Reform – Pillar