Annual Activity Report 2025

FINANCIAL STATEMENTS

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

Back end In the Back End segment, goodwill is carried by the Recycling BU in the amount of 171 million euros, the Nuclear Packages and Services BU in the amount of 68 million euros, the Dismantling and Services BU in the amount of 15 million euros and the Orano Projets BU in the amount of 6 million euros. The values in use calculated to carry out the impairment tests are obtained by discounting the projected future cash flows at a rate of between 7.75% and 8.75%

(up +0.25% or stable depending on the BU, compared to those of December 31, 2024). The sensitivity analyses carried out show that the use of discount rates that are 50 basis points higher and/or standard-year growth rates that are 50 basis points lower would not have led to the recognition of any impairment of goodwill.

NOTE 10 INTANGIBLE ASSETS

Intangible assets under construction Other

Pre-mining expense

R&D expense

Mineral rights

Concessions

Total

& patents Software

(in millions of euros)

Gross amounts at December 31, 2024

2,007

59 1,219

415

422

87 66

172 4,380

Capex

67

– –

– –

– –

1

2 –

136

Disposals

–

(4) (1)

–

(4)

Currency translation differences

(144)

– (100)

(3)

(3)

(5)

(256)

(8) 23

–

– –

– 1

–

–

– –

(8) 14

Change in scope (2)

Other changes

13

14

(37) 113

GROSS AMOUNTS AT DECEMBER 31, 2025 1,944

72 1,118

413

431

169 4,262

Depreciation, amortization and provisions at December 31, 2024

(1,273)

(58)

(1,218)

(137)

(359)

(2)

(157)

(3,204)

Net charges to depreciation and amortization/Impairment losses (1)

(95)

(2)

– –

(8)

(18)

– – – – –

(1)

(124)

Disposals

–

– – – –

– 3 – –

4 – – –

– 5 – –

4

Currency translation differences

92

100

200

8 –

– –

8 –

Change in scope (2)

Other changes

DEPRECIATION, AMORTIZATION AND PROVISIONS AT DECEMBER 31, 2025 Net carrying amount at December 31, 2024

(1,266)

(60) (1,118)

(143)

(372)

(2) 85

(153) (3,115)

734

1

–

278

63

15 1,176

NET CARRYING AMOUNT AT DECEMBER 31, 2025

678

12

–

270

59

111

16 1,146

6

(1) Including 12 million euros of impairment losses. (2) See Note 2.

347

Orano - Annual Activity Report 2025