Annual Activity Report 2025

6

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

NOTE 13 END-OF-LIFECYCLE OPERATIONS

Provisions for end-of-lifecycle operations

Net carrying amount at December 31, 2025

Net carrying amount at December 31, 2024

Reversals used

Third-party expense

Revisions to

Other changes

estimates Accretion

(in millions of euros)

Provisions for dismantling

5,591

(161)

(17)

142

258

(305)

5,507

Provisions for waste retrieval and packaging Provision for long-term waste management (transport & storage) Monitoring costs after closure of storage facilities Provisions for end-of-lifecycle operations (regulated *) Provisions for end-of-lifecycle operations (non-regulated *) PROVISIONS FOR END-OF-LIFECYCLE OPERATIONS

1,450

(143)

–

37

69

9

1,421

1,595

(20)

–

10

74

(107)

1,552

72

(1)

–

–

3

(8)

66

8,708

(324)

(17)

188

405

(412)

8,547

351

(29)

(1)

38

16

(8)

368

9,059

(353)

(18)

226

421

(420)

8,915

* Scope of application of the French law of June 28, 2006.

At December 31, 2025, reversals used in the amount of 353 million euros correspond to expenses incurred by the group in relation to end-of-lifecycle operations. Revisions to estimates for 226 million euros include charges to provisions and reversals relating to: ● the dismantling of facilities in operation for -215 million euros, offset by the dismantling assets of nuclear facilities for -215 million euros (see Note 11), end-of-lifecycle assets – third party share for 3 million euros and a decrease in underlying assets for -3 million euros (see Note 11); ● the dismantling of decommissioned facilities and WRP and long-term waste management operations for 441 million euros. Other changes of -420 million euros are due to changes in fi nancial assumptions over the 2025 fi nancial year. The changes in fi nancial assumptions are offset by the following: ● fi nancial income/(expense) of -181 million euros related to decommissioned facilities (see Note 7); ● a decrease in dismantling assets of nuclear facilities, for -95 million euros in respect of facilities in operation (see Note 11); ● a decrease in end-of-lifecycle assets – third-party share for -1 million euros; and ● a decrease in underlying assets for -143 million euros (see Note 11). Nature of the commitments As a nuclear facility operator, the group has a legal obligation to secure and dismantle its production facilities when they are shut down, in whole or in part, on a permanent basis. It must also retrieve and package in accordance with prevailing standards

certain legacy waste as well as the waste resulting from operating and dismantling activities. Furthermore, the group must assume fi nancial obligations to monitor storage sites after their closure. In December 2004, the CEA, EDF and Orano signed an agreement concerning the Marcoule site, which transfers the responsibilities of site owner-operator to the CEA, which will be responsible for funding the dismantling of the site facilities. This agreement does not cover shipping and fi nal storage costs for high and medium level long-lived waste (HL-LLW/ML-LLW). Accordingly, provisions for the Marcoule site only cover Orano’s share of waste shipping and fi nal waste storage costs. For all the facilities within the regulated scope and those outside the regulated scope, Orano uses the same methods to assess both the cost of end-of-lifecycle operations and expenses related to disposal and storage of radioactive waste. In accordance with Article 20 of French planning law No. 2006-739 of June 28, 2006 on the sustainable management of radioactive materials and waste, codi fi ed in Articles L. 594-1 et seq. of the French Environmental Code, Orano submits a report on INBs to the administrative authority every three years setting out cost estimates and calculation methods for end-of-lifecycle provisions, as well as an annual update of this report. Measurement of provisions for dismantling and waste retrieval and packaging operations (WRP) The costing of facility dismantling and WRP operations is based on methodologies and scenarios describing the nature and timing of the planned operations. The estimate is based on a parametric approach for facilities in operation (costing resulting from the inventory of the facility: volume of materials, equipment, etc .) and an analytical approach for shutdowns and WRP operations

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Orano - Annual Activity Report 2025