Company: SGBAF
Filing Date: 2025-04-01
Form Type: DRS/A
Source: 0000950123-25-003272
Chunk: 297

Company: SES S.A.
Filing Date: 2025-04-01
Form: DRS/A
Chunk 297
---
 years |
| •  Space segment assets                          |     | 3 to 18 years  |
| •  Ground segment assets                         |     | 3 to 15 years  |
| •  Other fixtures, fittings, tools and equipment |     | 3 to 15 years  |
| •  Right-of-use                                  
 assets                                           |     | 6 to 12 years  |

An item of property, plant and equipment is derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on the derecognition of an asset is included in the consolidated income statements in the period the asset is derecognized. The residual values, remaining useful lives and methods of depreciation of property, plant and equipment are reviewed at each financial year end and adjusted where necessary. F-24

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 For reimbursable capitalized costs related to the procurement of satellites, launches, and upgraded ground facilities as part of the U.S. C-bandrepurposing project, the Group applies government grant accounting. The Group records credits to the recorded book values of the related asset when the costs have been incurred, and the Group has obtained reasonable assurance that the costs will be reimbursed and that it will comply with the requirements attached to the reimbursement. See additional information in Note 36. Assets in the course of construction This caption includes primarily satellites under construction. Costs directly attributable to the purchase of a satellite and bringing it to the condition and location to be used as intended by management, such as launch costs and other related expenses like ground equipment and borrowing costs, are capitalized as part of the cost of the asset. The cost of satellite construction may include an element of deferred consideration to satellite manufacturers referred to as satellite performance incentives. SES is contractually obligated to make these payments over the lives of the satellites, provided the satellites continue to operate in accordance with contractual specifications. Therefore, SES accounts for these payments as deferred financing, capitalizing the present value of the payments as part of the cost of the satellites and recording a corresponding liability to the satellite manufacturers. An interest expense is recognized on the deferred financing and the liability is accreted based on the passage of time and reduced