Annual Activity Report 2025

SUSTAINABILITY STATEMENT Social and societal information

4.3.4 Operating ef fi ciently for citizens [S4]

4.3.4.1 IROs related to consumers and end-users In the context of the group’s current activities, end-users are the citizens of the countries of the customers that the group serves. These provide them with nuclear electricity. There is no particular sub-group among end-users. For its materiality analysis and the identi fi cation of Impacts, Risks and Opportunities (IRO), Orano relied on its existing mapping (risks, vigilance), the knowledge of its experts and existing studies

(impact studies, speci fi c studies, etc .), as well as interviews with 150 stakeholders, as described in Section 4.1.5.2 Double materiality analysis methodology . For the analysis relating to consumers and end-users, the group relied on feedback from its customers, as well as on public discussions on energy issues.

MATERIAL IMPACTS, RISKS AND OPPORTUNITIES FOR CONSUMERS AND END-USERS

Localization in the value chain and time horizon

Type

Impact, Risk and Opportunity

CONTINUITY AND COST FOR CITIZENS [S4] POTENTIAL NEGATIVE IMPACT

OWN OPERATIONS, DOWNSTREAM

IMPACT OF ORANO’S ACTIVITIES ON THE COST OF NUCLEAR ELECTRICITY

The increase in our costs has an impact on our customers’ margins or on the cost to the end-user. Electricity is a basic commodity. Its cost is a factor of energy poverty. The impact of the increase in Orano’s costs on the price of electricity could have a negative impact on the budgets of French citizens and companies that consume electricity.

IRO

4

Description

POTENTIAL NEGATIVE IMPACT

OWN OPERATIONS, DOWNSTREAM

IMPACT ON CITIZENS IN CASE OF A DISRUPTION IN ELECTRICITY SUPPLY

IRO

Orano’s inability to deliver to its customers can result in a lack of electricity for citizens. Electricity is a basic commodity. Orano’s inability to honor its commitments (delivery of uranium, delivery of MOX fuel and receipt of spent fuel) would deprive French citizens and companies that consume electricity. Orano ensures the security of uranium supply to its customers thanks to the geographical diversi fi cation of its sites. The group also aims to maintain more than 20 years of resources and reserves at all times. To this end, Orano continually explores to discover new deposits.

Description

OWN OPERATIONS, DOWNSTREAM

FUTURE RISK RISK IN THE EVENT OF COST INCREASES

Orano’s inability to pass on cost increases to its customers may lead to a deterioration in the margin. Not being able to pass on the increase in Orano’s costs to its customers would have a negative impact on the group’s results and cash flow, but also on its ability to invest.

IRO

Description

TRANSPARENCY AND INFORMATION FOR CITIZENS [S4] POTENTIAL NEGATIVE IMPACT

OWN OPERATIONS

TRANSPARENCY NECESSARY FOR THE ACCEPTANCE OF THE GROUP’S ACTIVITIES

IRO

Transparency is a necessary condition for the acceptance of its activities.

Lack of transparency relating to an anomaly or an incident at a nuclear site could lead to a request by the Nuclear Safety Authority (ASNR) to shut down the affected site. The consequence would be a loss of revenue and cash flow. Orano is committed to providing the public with reliable disclosure.

Description

233

Orano - Annual Activity Report 2025