Company: SGBAF
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001193125-25-120606
Chunk: 315

Company: SES S.A.
Filing Date: 2025-05-15
Form: 424B3
Chunk 315
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 contributions are recognized as an asset to the extent that a cash refund or a reduction in the future payments is available. The Group has no significant defined benefit pension plans. Share-based payments

| 1 | Equity-settled share-based compensation plans |

Employees (including senior executives) of the Group receive remuneration in the form of share-based compensation transactions, whereby employees render services as consideration for equity instruments (‘equity-settled transactions’). The cost of equity-settled transactions is measured by reference to the fair value at the date on which they are granted. The fair value is determined by an external valuer using a binomial model for the Stock Appreciation Rights Plan (‘STAR Plan’) and Equity Based Compensation Plan comprising options (‘EBCP Option Plan’). The fair value of EBCP RS is estimated at the date of the grant by restating discounted dividends from share price and taking into account the terms and conditions upon which the shares were granted. The fair value of EBCP PS is estimated at the date of the grant using a Monte-Carlo simulation model and taking into account the terms and conditions upon which the shares were granted. Further details are given in Note 26. In valuing equity-settled transactions, no account is taken of any non-marketperformance conditions, the valuation being linked only to the price of the Company’s shares, if applicable. The cost of equity-settled transactions is recognized, together with a corresponding increase in equity, over the period in which the performance and/or service conditions are fulfilled, ending on the date on which the F-35

Consolidated financial statements as of and for the years ended December 31, 2024, December 31, 2023 and December 31, 2022 relevant employees become fully entitled to the award (the vesting date). The cumulative expense recognized for equity-settled transactions at each reporting date until the vesting date reflects the extent to which the vesting period has expired and the Group’s best estimate of the number of equity instruments that will ultimately vest. The consolidated income statements charge or credit for a period represents the movement in the cumulative expense recognized as at the beginning and end of that period. No expense is recognized for awards that do not ultimately vest. The dilutive effect of outstanding options is reflected as additional share dilution in the computation of earnings per share (see Note 12).

| 2 | Cash-settled share-based compensation plans |

A liability is recognized for the fair value of cash