Areva - Reference Document 2016

06

BUSINESS OVERVIEW

6.4 Operations

AREVA’S EQUITY INTERESTS IN URANIUM PROJECTS

Financial consolidation** (%)

AREVA’s equity share (%)

Country

Site

Type*

Operator

Canada Canada Canada Canada Canada Canada Canada Canada France Mongolia Mongolia Namibia Kazakhstan

Cigar Lake Dawn Lake

UG NA

Cameco Cameco Cameco Cameco AREVA Cameco AREVA AREVA AREVA AREVA AREVA AREVA AREVA AREVA AREVA AREVA AREVA AREVA

37.10% 23.09% 16.67% 21.76% 65.01% 30.195% 70.00% 69.16% 100.00% 51.00% 43.56% (1) 43.56% (1) 100.00% 100.00% 34.00% 57.66% 63.40% 100.00%

37.10% 23.09% 16.67% 21.76% 65.01% 30.195% 70.00% 69.16% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% -

Key Lake Fox Lake

OP/UG

NA

Kiggavik-Sissons Schultz

OP/UG

McArthur River McClean Lake

UG OP OP NA ISR ISR NA OP NA UG OP OP OP

Midwest

AREVA Mines

Katco

Zoovch Ovoo

Dulaan Uul

Trekkopje Project Arlit Concession

Niger Niger Niger Niger

Cominak Imouraren

Somaïr

Central African Republic Bakouma

* Type of operation: ISR: In Situ Recovery; OP: Open Pit; UG: Underground; n.d.: not defined. ** Share of production consolidated in AREVA’s financial statements in 2016. (1) After activation of the AREVA Mines LLC joint venture, expected in 2017. Source: AREVA

Market and competitive position

Supply consists of:

p mining production, which was approximately 61,900 metric tons of uranium, a small 2% increase compared with 2015 ( source: AREVA analyses ); p secondary resources estimated at a total of 17,700metric tons according to UxC coming frommaterials produced by used fuel recycling; themarketing of uranium inventories of the US (DOE) and Russian governments; re-enriched depleted uranium; and low-enriched uranium from enrichment companies.

Market Reactor requirements amounted to approximately 63,500 metric tons of uranium in 2016 (requirements expressed in natural uranium equivalent; source: UxC Q4 2016), slightly up compared with 2015.

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2016 AREVA REFERENCE DOCUMENT