ORANO // Annual Activity Report 2024

STATEMENTS

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

Expenses relating to development projects are recognized as intangible assets if the project meets the following criteria: ● the project is clearly de fi ned, and its costs are identi fi ed separately and measured reliably; ● the project’s technical feasibility has been demonstrated; ● it is the group’s intention to complete the project with a view to its use or sale; ● adequate technical and fi nancial resources are available for the completion of the project; and ● it is likely that the future economic bene fi ts associated with the project will accrue to the group. Development costs capitalized on that basis are then amortized over the probable useful life of the intangible asset, as from the commissioning date. They are depreciated on a straight-line basis over a minimum period of time. Mineral exploration and pre-mining development Mineral exploration and pre-mining development work are recognized on the basis of the following rules: ● exploration expenses whose purpose is to identify new mineral resources, and expenses related to assessments and pre development of identi fi ed deposits are incurred before project pro fi tability is determined and are recognized as “Research and Development expenses” for the fi nancial year; ● pre-mining development expenses that concern a project which, as of the date of the fi nancial statements, has a strong chance of technical success and commercial pro fi tability, are capitalized. Indirect costs, excluding overhead expenses, are included in the valuation of these costs. Capitalized pre-mining expenses are amortized in proportion to the number of metric tons mined from the reserves they helped identify. Other intangible assets Other intangible assets, including mining rights and acquired technology, are measured at acquisition cost or production cost. They are amortized using the most appropriate method in view of their use (straight-line or by units of production), starting on the date they were placed in service and over the shorter of their probable period of use or, when applicable, the duration of their legal protection. 1.3.7.2. Property, plant, and equipment Property, plant, and equipment are recognized at acquisition or production cost, including startup expenses, less cumulative depreciation, and impairment. In the event of the acquisition of a group of assets, the group has chosen, for the allocation of the acquisition cost, to measure the assets and liabilities that are not measured at cost according to the IFRS standards applicable to them, then allocate the residual acquisition cost to the assets and liabilities measured at cost price in proportion to their respective values (IFRIC Update 11/17).

The cost of in-house facilities includes all labor costs, parts and all other production costs involved in the construction of the asset. The cost of nuclear facilities includes the group’s share of provisions for end-of-lifecycle operations, estimated at their commissioning date, termed “Dismantling assets – attributable to owners of the parent” (see Note 1.3.12). In accordance with IFRIC 1, changes in provisions for end-of-lifecycle operations coming from changes in estimates or calculation assumptions and relating to nuclear facilities in operation are offset by a change of the same amount to the assets to which these provisions relate. Property, plant, and equipment are depreciated based on the approach deemed most representative of the economic impairment of the assets (straight-line depreciation or as a function of the production units); each component is depreciated over its speci fi c useful life. Mining land is depreciated over the operating period of the deposit; site layout and preparation expenses are depreciated over 10 years; buildings over 10 to 45 years; production facilities, equipment and tooling other than nuclear facilities over 5 to 10 years; general facilities and miscellaneous fi xtures over 10 to 20 years; industrial packaging over 10 to 20 years, and other transportation equipment, of fi ce equipment, computer equipment and furniture over 3 to 10 years. Nuclear facilities are depreciated on a straight-line basis over their estimated useful lives. Depreciation periods are revised if there is a signi fi cant change in their estimated useful lives. Changes in the value of dismantling assets (own share) are amortized on a prospective basis over the remaining useful lives of the facilities. 1.3.7.3. Leases Leases are recognized in the statement of fi nancial position as soon as they come into effect, by the recognition of right-of-use assets under “Right-of-use assets – Leases” and a liability recorded under “Lease liabilities.” A contract contains a lease if it gives the group the right to control the use of an identi fi ed asset for a speci fi ed period in exchange for the payment of a consideration. On the effective date of the contract, the lease liability is the present value of future payments. Lease payments are discounted at the incremental borrowing rate. The rate used, determined by currency and by maturity, is the rate that the lessee would have had to pay to borrow, over a similar period and with a similar guarantee, the funds necessary to obtain goods of similar value to the right to use the leased asset in a similar economic environment. The value of the right of use is determined on the effective date of the lease from the initial amount of the lease liability, plus, where applicable: ● advance payments made to the lessor, net of bene fi ts received from the lessor;

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Orano - Annual Activity Report 2024