Company: SGBAF
Filing Date: 2025-04-01
Form Type: DRS/A
Source: 0000950123-25-003272
Chunk: 171

Company: SES S.A.
Filing Date: 2025-04-01
Form: DRS/A
Chunk 171
---
 by the following:

| • |     | a decrease of €1,548 million of goodwill impairment, due to no impairment charges against goodwill                                                                                                            
 recorded in FY 2024. In 2023, a goodwill impairment expense of €1,548 million was recorded, comprising impairment charges to GEO North America of €989 million, GEO International of €340 million, and MEO of 
 €219 million. The goodwill impairment charge recorded in 2023 was mainly triggered by the recognition of the income from the Phase II U.S. C-Band Accelerated Relocation Payment (ARP) and                    |

114

Confidential Treatment Requested by SES Pursuant to 17 C.F.R. Section 200.83

| • |     | a decrease of €1,770 million of impairment on orbital slot license rights was mainly related to net                                                                                                                                  
 impairment reversal recorded for orbital slot license rights of an amount of €93 million comprising of €186 million reversals of previous impairment charges, partly offset by €93 million of additional impairment charge. In 2023, 
 orbital slot license rights net impairment charge of €1,677 million comprising of MEO CGU in amount of €1,166 million, GEO International in amount of €466 million, and GEO North America of €45 million. The                        
 impairment charge on orbital slot license rights recorded in 2023 was also mainly triggered by the recognition of the income from the Phase II U.S. C-Band ARP.                                                                      |

Net financing costs Net financing costs decreased by €39 million, or 92.4%, to €3 million for FY 2024, as compared to €42 million for FY 2023, primarily due to the following:

| • |     | an increase in interest income of €76 million; |

| • |     | an increase in finance lease income of €5 million; |

| • |     | an increase in interest expense on borrowings (excluding capitalized interest) of €18 million, 
 reflecting the combination of higher financing expenses and lower interest capitalized;        |

| • |     | a decrease of €9 million due to lower net foreign exchange (FX) gains; |

| • |     | an increase of €8 million in other finance costs; and |

| • |     | an increase of €7 million in respect of amortization of loan origination costs. |

Other non-operating income / expenses (net) Other non-operating net income increased by €21 million, to €21 million for FY 202