Cash at banks and money market funds are subject to interest at floating rates based on daily bank rates. Short-term deposits are made for varying periods, depending on the immediate cash requirements of the Group—and earn interest at the respective deposit rates. Cash and cash equivalents are held at various financial institutions meeting the credit rating criteria set out in Note 24 above. See also Note 4 in connection with the acquisition of Intelsat Holdings S.à r.l. for a cash consideration of USD 2.6 billion (EUR 2.2 billion) closed on 17 July 2025.

Cash and cash equivalents subject to contractual restrictions relate to EUR

million) funds in relation to the IRIS² programme available to both SES ASTRA S.A. and other consortium members for programme related costs.