Annual Activity Report 2025

FINANCIAL STATEMENTS

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

NOTE 4 ADDITIONAL INFORMATION BY TYPE

December 31, 2025 December 31, 2024

(in millions of euros)

Payroll expenses (1)

(1,702) 19,897

(1,665) 19,970

Average full-time equivalent workforce (2)

(1) Excluding post-employment bene fi ts. (2) Including work-study students and fi xed-term contracts.

NOTE 5 OTHER OPERATING INCOME AND EXPENSE Other operating income

December 31, 2025 December 31, 2024

(in millions of euros)

Gain on disposals of non- fi nancial assets

4

–

Reversal of impairment on assets

252

93 13

Other income

43

TOTAL OTHER OPERATING INCOME

300

106

In 2024 and 2025, the reversal of impairment losses mainly concerns the industrial assets of the Conversion CGU (see Note 11).

In 2025, other income mainly included net income of 34 million euros related to the loss of control and the change in the consolidation method of Nurlikum Mining following the acquisition of an equity interest by a partner (see Note 1.1).

Other operating expense

December 31, 2025 December 31, 2024

(in millions of euros)

Loss on disposals of non- fi nancial assets

–

(3)

Asset impairment

(25)

(78) (97)

Dismantling costs net of provisions/reversals of provisions for end-of-lifecycle operations

(443)

Other expense

(46)

(205) (383)

TOTAL OTHER OPERATING EXPENSE

(515)

6

In 2024, impairment losses on assets mainly concern the impairment of Imouraren’s intangible mining assets for 69 million euros. Dismantling costs net of provisions/reversals of provisions are described in Note 13. In 2025, other expense mainly includes charges to provisions relating to the redevelopment of mining sites for 31 million euros (compared to 44 million euros at December 31, 2024).

In 2024, in addition to the charges to provisions for the redevelopment of mining sites mentioned above, other expense includes a 12 million euro loss on operations in Niger, provisions, and a 124 million euro deconsolidation loss related to the situation in Niger.

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Orano - Annual Activity Report 2025