Annual Activity Report 2025

FINANCIAL STATEMENTS

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

2024 INCOME

Corporate, other operations and eliminations

Mining

Front End

Back End

Total

(in millions of euros)

Gross revenue

1,524

1,559 (251) 1,307

3,236 (209) 3,027

(445)

5,874

Inter-segment sales

(22)

483

–

CONTRIBUTION TO REVENUE

1,502

38

5,874 1,183

OPERATING INCOME BEFORE END-OF-LIFECYCLE ACTIVITY

122

463 (38) 425

675 (59) 616

(77)

Income from end-of-lifecycle activities

–

–

(97)

OPERATING INCOME

122

(77)

1,085

Share in net income of joint ventures and associates

– – – –

– – – –

– – – –

– – – –

(12)

Net fi nancial income (expense)

(307)

Income tax

(54) 712

NET INCOME FOR THE PERIOD

EBITDA

437

495

1,190 36.8%

(55)

2,067 35.2%

% of gross revenue

28.7%

31.8%

n/a

At December 31, 2024, the group generated approximately 43% of its revenue with EDF.

2024 BALANCE SHEET

Corporate, other operations and eliminations

Mining

Front End

Back End

Total

(in millions of euros)

Intangible and tangible fi xed assets (including goodwill) End-of-lifecycle assets and assets earmarked for end of lifecycle operations

2,579

4,445

4,850

225

12,099

–

1,778

6,675

–

8,453

Other non-current assets

63

–

4

299 524 203

366

SUBTOTAL: NON-CURRENT ASSETS

2,642

6,223 1,055

11,529

20,918

Inventories and receivables (excluding tax receivables)

601

1,058

2,918 1,969 4,887

Other current assets

–

–

1

1,968 2,172 2,696

SUBTOTAL: CURRENT ASSETS

601

1,055 7,278

1,059

TOTAL ASSETS

3,242

12,588

25,805

6

339

Orano - Annual Activity Report 2025