Annual Activity Report 2025

2 SITUATION AND ACTIVITIES OF THE COMPANY AND ITS SUBSIDIARIES DURING THE PAST FINANCIAL YEAR The group’s businesses

CONVERSION – ENRICHMENT PROCESS FOR NATURAL URANIUM

Malvési site

Philippe Coste site

Georges Besse II site

Enrichment by centrifugation

Fluorination ȃ îƥūŞƙ ūlj ǷƭūƑĿŠĚ îƑĚ îēēĚē

U 3 O 8 ūŠČĚŠƥƑîƥĚē ƭƑîŠĿƭŞ ljƑūŞ ŞĿŠĿŠij

UF 6 ĚŠƑĿČĺĚē

2WTKƓECVKQP Fluorination

UF 4

UF 6

Delivries of enriched uranium ƥū ƭƥĿŕĿƥNj ČƭƙƥūŞĚƑƙ DžūƑŕDžĿēĚ

Support activities to plants ƥŕîƙ ŕîċūƑîƥūƑNjɈ ĚljǷƭĚŠƥƙ ƥƑĚîƥŞĚŠƥ ƙƥîƥĿūŠɈ ¹ƑĿēĚŠƥ DžūƑŒƙĺūƎɈ ĚƥČɍ

UF 6 ēĚƎŕĚƥĚē

Stable uranium oxides

Reprocessed uranyle nitrate

Denitration of reprocessed uranyle nitrate from Orano la Hague plant

&GƔWQTKPCVKQP QH FGRNGVGF 7( 6 from enrichment

TU5 plant

W plant

TŠƥĚƑĿŞ ƙƥūƑîijĚ ċĚljūƑĚ ƑĚɠƭƙĚ

Source: Orano

2.3.3 Back End The Back End operations of the fuel cycle consist of the “Recycling”, “Nuclear Packages and Services”, “Dismantling and Services”, and “Engineering” businesses. The Back End sector also comprises the Aval du Futur program. Recycling The Recycling business uses processes allowing its customers to recycle spent fuel into fresh fuel and to package fi nal waste in standardized containers in a safe and stable manner. The Recycling business makes use worldwide of the technical and industrial expertise developed in its facilities at the group’s sites and those of its French customers. In particular, it supports the development of new recycling plants in the framework of international partnerships with countries seeking to acquire their own production plants. This business’ principal base consists of the industrial platforms of la Hague and Melox, respectively located in the Manche and Gard departments of France. These two sites had close to 7,500 employees and subcontractors in 2025. The installed capacity at the la Hague and Melox plants, along with the group’s cumulative experience, make the group number one worldwide in recycling: ● the la Hague site is responsible for the fi rst stage of recycling operations: fi rstly, the separation of recyclable materials and waste from spent fuel from French and foreign power plants, as well as from experimental research reactors; then the

Backed by 60 years of expertise and know-how, the Malvési and Tricastin sites are a benchmark integrated industrial platform for the conversion and enrichment of uranium, with entirely renewed production tools. The co-location of conversion and enrichment activities limits the transport of materials and associated operations. Orano is the only Western player to control the entire Front End value chain. Other health and quantum activities Orano is also developing new activities such as its Stable Isotopes Laboratory (“Jean Fourniols” laboratory in Tricastin). Stable isotopes are non-radioactive forms of atoms that are used in a large number of applications, notably in the medical fi eld, scienti fi c research, industry, and quantum computing. Orano’s production of stable isotopes relies on the competencies and cutting-edge technologies used for the transformation, conversion, and enrichment of uranium. Through the Stable Isotopes business, Orano leverages its industrial expertise while offering its customers a Western alternative for the production of these elements, which are essential to tomorrow’s technologies. For more than 20 years, the Laboratoire d’Étalons d’Activité (LEA) has been using its expertise in ionizing radiation metrology to manufacture radioactive sources, used in extremely varied fi elds of application (nuclear medicine, environmental analyses, radiation protection, industrial process control, etc. ). Located on the Tricastin site, it is the only French manufacturer of these products, which guarantee the safe and controlled operation of all types of radioactivity measuring devices.

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Orano - Annual Activity Report 2025