Annual Activity Report 2025

6

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

2.6 Marketable securities Marketable securities are valued at the lower of their acquisition cost and their net carrying amount. A provision for impairment is recorded when the valuation at the reporting date shows an overall capital loss by class of securities. The net carrying amount is equal to the average closing market rates of the securities for the last month of the fi nancial year. 2.7 Bonds Bonds are recognized as fi nancial liabilities, as provided in generally accepted accounting principles in the French GAAP ( plan comptable général ). Redemption premiums and issuance expenses related to bonds are amortized on a straight line basis over the term of these bonds.

being legal, contractual or implicit, and being subject to a probable outflow of resources to the bene fi t of this third party without at least equivalent consideration expected after the reporting date. A reasonably reliable estimate of this net outflow must be determined in order to recognize a provision. 2.9 Tax information From September 1, 2017, Orano SA opted to be solely responsible for income tax due on the combined income of the group consisting of Orano SA and the subsidiaries in which it holds at least 95% of the share capital, as provided for in Article 223A of the French General Tax Code. This regime remains in effect for the fi nancial year ended December 31, 2025. Under the tax consolidation, Orano SA signed an agreement with each of its subsidiaries to manage their relationship in terms of recognizing income tax expense, paying any taxes, and identifying and transferring tax credits. This agreement observes the principle of neutrality, in that it stipulates that each consolidated company determines its own income tax expense as if it had been taxed separately. It lays out the rules that will apply should a subsidiary leave the tax consolidation, and that will continue to uphold neutrality, and refers in this case to the future drafting of a withdrawal agreement.

2.8 Provisions for contingencies and losses

In accordance with ANC Regulation No. 2014-03 on liabilities, a provision for contingencies and losses is recognized when there is an obligation to a third party at the reporting date, this obligation

2.10 Information about the entity preparing the consolidated fi nancial statements

Name:

Orano SA

Entity preparing the consolidated financial

Head of fi ce:

125, avenue de Paris – 92320 Châtillon

statements of the largest group of entities of which the entity is a part as a parent entity

SIREN:

330 956 871

Location where copies of the consolidated fi nancial statements may be obtained

125, avenue de Paris – 92320 Châtillon

NOTE 3 CHANGES IN ACCOUNTING POLICIES

ANC Regulation No. 2022-06, approved on December 30, 2023, modi fi es French GAAP and applies from January 1, 2025. In particular, it modi fi es the de fi nition of exceptional items, abolishes the technique of transferring expenses and modi fi es the format of fi nancial statements. The fi nancial statements for the fi nancial year ended December 31, 2025 were prepared and presented in accordance with the provisions of this regulation.

The fi nancial statements for the fi nancial year ended December 31, 2024 were not retrospectively restated for the new rules. However, reclassi fi cations and groupings have been made in the “2024” comparative column, between balance sheet or income statement lines, to comply with the new format of the fi nancial statements.

396

Orano - Annual Activity Report 2025