ORANO // Annual Activity Report 2024

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STATEMENTS Consolidated fi nancial statements - fi nancial year ended December 31, 2024

1.3.3. Consolidation methods Subsidiaries

1.3.4. Consideration of the effect of foreign currencies The group’s consolidated fi nancial statements are denominated in euros, which is also the functional currency of the group’s parent company. The group has determined the functional currency of each of its subsidiaries based on the economic environment in which it conducts the major part of its operations. In most cases, the functional currency is the local currency. Transactions denominated in foreign currencies Foreign currency-denominated transactions are translated by group companies into their functional currency at the exchange rate prevailing at the transaction date. Monetary assets and liabilities denominated in foreign currencies are revalued at the exchange rate prevailing on the last day of the period; foreign exchange gains and losses are then recognized: ● in operating income when related to commercial transactions (trade receivables, trade payables); ● in fi nancial income when they relate to fi nancial transactions (loans or borrowings). Translation of the fi nancial statements of consolidated companies whose functional currency is different from that of the group As part of the consolidation process, assets and liabilities denominated in foreign currencies are translated into euros at the closing rate, and expenses and income are converted at the rate prevailing on the date of the transaction. Foreign exchange differences are recognized in currency translation differences in “Other items of comprehensive income”. In the event of the disposal of a foreign entity, the share of accumulated currency translation differences relating to this entity is recycled in the statement of income. 1.3.5. Segment information The operating segments selected for the purposes of segment information have been identi fi ed on the basis of the internal reporting used by the chief operating decision-maker to allocate resources to the various segments and assess their performance. The group’s chief operating decision-maker is the Executive Management, assisted by the Executive Committee. The analysis of internal reporting and the speci fi c features of the group’s businesses have led Orano to present the following three operating segments: Mining, Front End and Back End. Information relating to the medical activities and batteries for electric vehicles is presented in “Corporate and other operations”. Mining activities cover exploration (search for new deposits), mining projects (studies and construction of mines), operation (extraction of natural uranium, then chemical concentration into U 3 O 8 ), and the redevelopment of sites after their operation. Front End activities primarily include the conversion of uranium concentrate (U 3 O 8 ) to uranium hexafluoride (UF 6 ), followed by the enrichment of UF 6 by centrifugation. Lastly, Back End activities include used fuel recycling, nuclear logistics (cask design and manufacturing, and transportation of nuclear materials and waste), dismantling and services

Entities over which the group exercises exclusive control are fully consolidated. Control by the group over its subsidiaries is based on its exposure or entitlements to variable income resulting from its investment in these entities, as well as its ability to exercise power over the entity in such a way as to influence the amount of the returns it receives. However, in cases where the consolidation of an entity (or a group of entities) represents an insigni fi cant interest in terms of providing a true and fair report, the group has chosen not to consolidate it. Intra-group balances and transactions are eliminated. The acquisition date from which the group consolidates the fi nancial statements of the acquiree is the date of its effective takeover. Non-controlling interests in the net assets of consolidated subsidiaries are presented on a separate line of equity under “non controlling interests.” Non-controlling interests include the amount of minority interests as of the acquisition date and the amount represented by minority interests in the change in equity since that date. In the absence of a binding agreement, the negative results of subsidiaries are systematically allocated to equity attributable to the owners of the parent company and to non-controlling interests, based on their respective percentage interests, even if the latter become negative. Transactions with non-controlling interests, without impact on control, are treated as transactions with group shareholders and are recorded in equity. Joint ventures and associates An associate is an entity over which the group exercises signi fi cant influence. Signi fi cant influence is the power to influence the making of key fi nancial and operational decisions within the entity, without this demonstrating control or joint control of the group. A joint venture is a joint arrangement in which the parties, who exercise joint control, are entitled to a share of the net assets of the joint venture. Joint control is demonstrated when, on the basis of the rights provided for by this agreement, decisions on the relevant activities of the entity require the unanimous agreement of the parties. The factors taken into account to demonstrate signi fi cant influence or joint control are similar to those used for analyzing the group’s control over its subsidiaries. Joint ventures and associates are accounted for using the equity method. Interests in joint operations A joint operation is a partnership in which the partners (joint owners), who exercise joint control over the entity, have direct rights over the assets of the entity, and obligations in respect of its liabilities. As a co-investor, the group recognizes the relevant assets and liabilities line by line, as well as the income and expenses related to its interests in the joint operations.

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Orano - Annual Activity Report 2024