ORANO // Annual Activity Report 2024

2 SITUATION AND ACTIVITIES OF THE COMPANY AND ITS SUBSIDIARIES DURING THE PAST FINANCIAL YEAR Financial situation of the Company and the group during the past fi nancial year

2.5.2.3 Cash fl ows

Change in net debt The table below shows the breakdown of items contributing to the change in the group’s net debt for the year. It was calculated according to the French Accounting Board de fi nition (sum of “cash and cash equivalents” less “current and non-current fi nancial liabilities”).

2024

(in millions of euros)

Net debt at the beginning of the fi nancial year (at December 31, 2023)

(1,479)

Operating cash flow

937

Cash flow from end-of-lifecycle operations

(182) (179) (102)

Cash flow from fi nancing activities

Income tax paid

Dividends paid to non-controlling interests

(84) 314

Other items

(NET DEBT)/NET CASH AT THE END OF THE PERIOD (AT DECEMBER 31, 2024) CHANGE IN NET DEBT OVER THE FINANCIAL YEAR ENDED DECEMBER 31, 2024 +704 The group’s net fi nancial debt totaled 0.78 billion euros at December 31, 2024, compared with 1.48 billion euros at December 31, 2023. Comparative table of operating cash fl ows and consolidated cash fl ows The group analyzes cash flows from operating activities separately from flows relating to end-of-lifecycle operations and other cash flows. RECONCILIATION OF OPERATING CASH FLOWS AND CONSOLIDATED CASH FLOWS The following table distinguishes operating cash flows from the other cash flows presented in the consolidated statement of cash flows for the fi nancial year ended December 31, 2024. (775)

End-of lifecycle operations (1)

Total

Operating

Other (2)

(in millions of euros)

EBITDA (i)

2,067

Income from the sale of non-current operating assets and other non-cash operating items (ii)

0

Cash flow from operations after interest and tax (i + ii) Change in working capital requirement (iii) Net cash flow from operating activities (i + ii + iii) Cash from (used in) investing activities, net of disposals (iv)

2,067 ( 149) 1,918 (980)

(243)

(292)

1,532 ( 137) 1,395

0

12

(243)

(280) (469)

61

(1,388)

Net cash from (used in) fi nancing activities (v)

0 0 0

0 0 0

(1) 16

(1) 16

Impact of changes in scope, rates, marketable securities (vi) Net cash from operations sold or held for sale (vii)

0

0

CASH FLOWS (I + II + III + IV + V + VI + VII) 22 (1) Includes expenses for end-of-lifecycle operations incurred on-site and for fi nal waste storage, flows relating to the portfolio of fi nancial assets earmarked for end-of-lifecycle operations, and flows resulting from the signature of agreements with third parties for the fi nancing by such parties of a share of end-of lifecycle operations. (2) Namely, non-operating cash flows unrelated to end-of-lifecycle operations and mainly corresponding to fi nancial cash flows, including cash flows related to exceptional external growth transactions, dividends paid, and cash flows of a tax nature. 937 (182) (733)

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Orano - Annual Activity Report 2024