Areva - Reference Document 2016

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INFORMATION ABOUT THE ISSUER

5.2 Capex

On August 29, 2013, AREVA launched a new seven-year, 500-million-euro bond issue maturing on September 4, 2020 with an annual coupon of 3.25%. On March 12, 2014, AREVA priced and launched a 750-million-euro bond issue with an annual coupon of 3.125% maturing in nine years, on March 20, 2023. On April 1, 2014, Advanced Nuclear Fuels GmbH, an AREVA subsidiary, sold its fuel cladding production plant in Duisburg, Germany. On May 7, 2014, AREVA finalized the sale of Euriware and of its subsidiaries to the Cap Gemini group. On June 30, 2014, AREVA finalized a financing project for the Société d’Enrichissement du Tricastin (SET). A ten-year loan in the amount of 650 million euros was established with a group of ten international banks. On August 1, 2014, on the occasion of the publication of its half-year results, AREVA announced the decision to terminate the Solar Energy business upon the completion of current construction projects, unless it received a full takeover bid. On October 7, 2014, AREVA announced new measures to strengthen its balance sheet and manage its debt. On October 22, 2014, in view of Mr. Luc Oursel’s unavailability, the Supervisory Board decided to confer the same powers to Mr. Philippe Knoche as those of the Chairman of the Executive Board until the next General Meeting of shareholders. On October 31, 2014, AREVA finalized the sale of the Control Command Transport (CCT) business to Alstom via its subsidiary AREVA TA. On November 18, 2014, in the framework of planning and forecasting activities performed regularly by the Executive Board, AREVA suspended its financial outlook for the years 2015 and 2016, pending the conclusion of these activities. On December 1, 2014, AREVA finalized the sale of the Aerospace Integration business to AIP Aerospace via its subsidiary AREVA TA. On March 4, 2015, during the publication of the group’s 2014 results, which were impacted by a net loss of 4.8 billion euros and negative equity, AREVA announced the implementation of a competitiveness plan, the establishment of social dialogue and the preparation of a financing plan. On March 9, 2015, AREVA and Gamesa signed final agreements and closed the deal to create Adwen, a joint venture in the field of offshore wind.

On April 14, 2015, following the AREVAGmbH Supervisory Boardmeeting, AREVA announced that it was opening discussions between management and labor on a plan to transfer operations from the Offenbach site (700 employees) to the Erlangen and Karlstein sites by mid-2016. On June 3, 2015, the President of the French Republic announced a series of guidelines for the redefinition of the French nuclear industry, including in particular the signature of a comprehensive strategic partnership agreement with AREVA which, if it were to be signed, would lead EDF to become the majority shareholder of AREVA NP, and a capital increase in which the French State will participate is announced. On June 29, AREVA announced that it had begun the process of selling its Canberra subsidiary, which specializes in nuclear measurement systems and instrumentation. On July 30, during the publication of its half-year 2015 results, AREVA confirmed financing requirements of approximately 7 bilion euros which could be covered by several internal sources of financing, the implementation of a programof asset sales, and additional measures to strengthen liquidity and equity. Moreover, in addition to the measures in the financing plan, the group announced the need for a significant capital increase to give AREVA a financial profile enabling it to refinance all of the company’s medium-term requirements. On October 19, 2015, AREVA announced the signature of a proposed agreement on employment by the CFDT, CFE-CGE, FO and UNSA-SPAEN labor unions. On October 20, 2015, AREVA announced the presentation by management of documents describing the reorganization plans for New AREVA and AREVA NP, together with their impacts on employment, to the Works Committees and Central Works Committees. On November 2, AREVA and its Chinese partner CNNC signed a memorandum of understanding in Beijing on possible cooperation involving an equity component and an industrial component. On December 24, 2015, AREVA announced that, following analysis of offers, the AREVA Board of Directors had selected the Mirion-Charterhouse offer to acquire its subsidiary Canberra. 2016 For the main events of 2016, see Sections 6.4. Operations and 9.1.3. Highlights of the period.

5.2.

CAPEX

Pursuant to IFRS 5, reported data concern the continuing operations exclusively, i.e. mainly the OL3 project; bioenergy, in the process of being shut down; and funding of AREVA SA. All of the financial items related to operations sold, discontinued

or held for sale are presented on a specific line of the statement of income, the statement of cash flows and the statement of financial position. In this regard, the data reported in 2015 were restated.

2015

The continuing operations had gross CAPEX of 13 million euros in 2015. Net of disposals, CAPEX amounted to 12 million euros in 2015. Operations sold, discontinued or held for sale had gross CAPEX of 794 million euros in 2015. Net of disposals, CAPEX amounted to 776 million euros in 2015.

In 2015, the bulk of capital expenditures related mainly to the continuation of strategic and priority investments begun in previous years: Georges Besse II to a large extent, along with mining development and Comurhex II.

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2016 AREVA REFERENCE DOCUMENT