Annual Activity Report 2025

6

FINANCIAL STATEMENTS Consolidated fi nancial statements – fi nancial year ended December 31, 2025

Deferred tax is recognized in the statement of income, with the exception of that relating to “Other items of comprehensive income”, which is also recorded under “Other items of comprehensive income.” Orano has opted for the recognition in income tax of the contribution on the added value of companies (CVAE) to which its French subsidiaries are subject. Recoverability of deferred tax assets The amount of deferred tax assets is reviewed at each reporting date, and is reduced where necessary if it is no longer probable that future taxable pro fi ts will permit the use of all or part of the amount. Similarly, unrecognized deferred tax assets are remeasured at each reporting date and recognized in the amount of the estimated future taxable pro fi ts against which they may be charged. The recoverable share of the group’s deferred tax assets is that for which the probability of recovery is higher than 50%. To establish

this probability, the group performs a three-step analysis: (a) demonstration of the non-recurring nature of the losses, (b) analysis of future earnings prospects, and (c) analysis of tax management opportunities. Regarding the outlook for future income, the probability of future taxable pro fi ts to offset losses carried forward is assessed based on income projections from the strategic plan validated by the governance bodies. The estimation of recoverable losses also takes into account the annual regulation on maximum recoverable amounts (50% for France). Offsetting of deferred tax Deferred tax assets and liabilities are offset for each tax entity if the entity is allowed to offset its current tax receivables against its current tax liabilities.

NOTE 2 SCOPE

Breakdown of French/foreign consolidated companies

December 31, 2025

December 31, 2024

French

Foreign

French

Foreign

(number of companies) Full consolidation Joint operations

37

40

34

37

– 3

6 5

– 3

6 4

Equity method

SUBTOTAL

40

51

37

47

TOTAL

91

84

Main operations carried out in 2025

Acquisition of a stake by Sano fi in the medical business (see Note 1.1)

Loss of control of Nurlikum Mining (see Note 1.1)

Mongolia (see Note 1.1)

334

Orano - Annual Activity Report 2025