Annual Activity Report 2025

FINANCIAL STATEMENTS

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

December 31, 2025 December 31, 2024 ETC ETC Front End Front End

(in millions of euros)

Country

UK

UK

% held

50%

50%

Share of net assets before eliminations at beginning of year

55 20

50

Share of comprehensive income Share of dividend distributions

5 – –

– –

Other changes

Share of net assets before eliminations at end of year

76

55

Consolidation adjustments

(88)

(87)

Investments in joint ventures at end of year

–

–

SHARE OF NEGATIVE NET EQUITY

(12)

(32)

Non-signi fi cant joint ventures and associates

December 31, 2025 December 31, 2024

(in millions of euros)

Securities of non-signi fi cant joint ventures in assets Securities of non-signi fi cant joint ventures in liabilities

20

30

0

0 0 1 1

Share of net income

(10)

Share of other items of comprehensive income

(1)

Share of comprehensive income

(11)

NOTE 15 OTHER CURRENT AND NON-CURRENT ASSETS

Other non-current assets

December 31, 2025 December 31, 2024

(in millions of euros)

Derivatives on fi nancing activities

27

13

6

Other assets

107 134

117

TOTAL OTHER NON-CURRENT ASSETS 130 Other assets include deposits to fi nance future expenditure linked to the redevelopment of mining sites abroad in the amount of 54 million euros as of December 31, 2025 (59 million euros at December 31, 2024). Other current fi nancial assets

December 31, 2025 December 31, 2024

(in millions of euros)

Derivatives on fi nancing activities Cash management fi nancial assets

11

3

642

658

Other fi nancial assets

6

4

TOTAL OTHER CURRENT FINANCIAL ASSETS

660

665

357

Orano - Annual Activity Report 2025