Areva - Reference Document 2016

06

BUSINESS OVERVIEW

6.4 Operations

As a reminder, historical estimates of resources for the Midwest deposit in Canada, which were done before the adoption of international standards, totaled about 10,000 metric tons of uranium (AREVA’s equity share). This deposit, which has good potential, will require additional work to establish a resource estimate that conforms to international standards.

Significant changes in relation to 2015 (AREVA’s equity share) Aside from the depletion of production, the following changes (AREVA’s equity share) occurred: p a significant increase in resources at the Zoovch Ovoo deposit in Mongolia, with 12,836 metric tons of uranium classified in indicated resources and 60,809 metric tons of uranium classified in inferred resources at December 31, 2016, versus 50,000 metric tons of inferred resources at December 31, 2015.

MINERAL RESERVES IN THE GROUND IN METRIC TONS OF URANIUM (MTU) (YEAR-END 2016 ESTIMATES)

Proven

Probable

Total reserves

Metal (after application of yields) MTU

Ore KT

Grade ‰U

Metal MTU

Ore KT

Grade ‰U

Metal MTU

Ore KT

Grade ‰U

Metal MTU

Recovery %

Country Canada Canada Canada Canada Canada

Site

Cigar Lake Key Lake

210 168.45 35,306

404 117.37 47,395

613 134.82 82,701 98.50% 81,460

67 4.26

287

0 0.00

0

67 4.26

287 98.70%

283

McArthur River

1,185 81.19 96,203

563 81.73 45,983 1,747 81.37 142,186 98.70% 140,338

McClean

88 3.00

262

1 43.20

22

88 3.23

284 95.71%

272

Total

1,549 85.23 132,059 967 96.60 93,399 2,516 89.60 225,458 98.62% 222,353

Kazakhstan Katco Kazakhstan Total

0 0.00 0 0.00

0 13,170 0.74 9,743 13,170 0.74 9,743 85.64% 8,344 0 13,170 0.74 9,743 13,170 0.74 9,743 85.64% 8,344

Niger Niger Niger Niger

Cominak Imouraren

1,284 3.16 4,058 1,375 3.38 4,643 2,659 3.27 8,702 93.10% 8,101

0 0.00

0 306,048 0.70 213,722 306,048 0.70 213,722 81.51% 174,196 364 2,253 1.26 2,841 2,774 1.15 3,205 78.30% 2,510

Somaïr

521 0.70

Total

1,805 2.45 4,422 309,676 0.71 221,206 311,481 0.72 225,629 81.91% 184,807

TOTAL

3,355 40.68 136,481 323,813 1.00 324,348 327,168 1.41 460,830

415,504

Source: AREVA.

AREVA’s equity share MTU

Country

Site

Canada Canada Canada Canada Canada

Cigar Lake Key Lake

30,222

47

McArthur River

42,375

McClean

190

Total

72,834

Kazakhstan Katco Kazakhstan Total

4,255 4,255 2,754

Niger Niger Niger Niger

Cominak Imouraren

100,439

Somaïr

1,591

Total

104,785

TOTAL 181,875 For reserves, this share is expressed in concentrates, i.e. after taking into account mining and milling recovery. Source: AREVA.

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2016 AREVA REFERENCE DOCUMENT