Orano - Annual Activity Report 2025 136 4 SUSTAINABILITY STATEMENT Societal and environmental challenges at the heart of the strategy species”, “Land-use change”, “Impacts on the state of species”, and “Impacts on the extent and condition of ecosystems” were dealt with under ESRS E4 “Biodiversity and ecosystems”. Some sub-topics have been reformulated compared to AR 16 of the ESRS 1 to improve their readability. The “Waste” sub-topic of AR 16 was divided into two sub-subtopics, namely “conventional waste” and “radioactive waste” to adapt to the specific characteristics of the group. Similarly, the sub-item “Pollution of air, water and soil” was broken down into chronic pollution generated by operations and accidental spills and treatment of historical pollution (liabilities). During the update in 2025, the “Ethics and fraud prevention” subtopic was separated into two sub-topics. The “Data security and cybersecurity” sub-topic was integrated within the “Ethics and corporate culture” issue. Identification and assessment of impacts Impacts address the effects that the Company has or could have on the environment and the population, including effects on human rights, due to its own activities and its Upstream and Downstream value chain, in particular through its products and services, as well as through its business relationships. These impacts may be actual or potential, negative or positive, intentional or unintentional, and reversible or irreversible. They can occur in the short-term, medium-term or long-term. Impacts indicate the positive or negative contribution of the Company and its value chain to its ecosystem. Orano has chosen to rely on its stakeholders to establish this list of impacts relating to the ESG topics selected. Around 150 interviews were organized in 2024 by the group with a relevant selection of stakeholders (legitimate within the meaning of the CSRD) in order to gather their vision of how Orano’s activities or value chain impact them. The group did not complete these interviews in 2025. The information gathered from the interviews was processed by an internal governance body dedicated to the double materiality analysis according to the relevance of the topics by stakeholder. In accordance with ESRS 2, the impact is formulated as the gross impact, positive or negative, potential or actual, on a stakeholder within a time horizon. The negative impacts were compared or enhanced with the Duty of Vigilance risk mapping. All the risks listed in the Vigilance risk mapping are covered by the IROs and material sub-topics, even if the final wording and groupings are different (in particular due to the structure imposed by the French duty of vigilance law in three pillars and by the CSRD Directive by ESRS). The impacts on biodiversity were further analyzed by a specialized firm. When interviews were not possible or when quality information was already available, Orano relied on documentary analysis. In 2025, the group completed its analysis with benchmarks. Diversification activities such as Orano Med and the electric vehicle battery recycling program were covered by an analysis of sectoral materiality (pharmaceuticals and automotive). Insofar as these value chains target health and mobility, they have material topics similar to those of energy. Impacts were assessed according to scale, scope, remediability and likelihood as required by ESRS 2. In the case of human rights impacts, severity took precedence over probability (light blue boxes in the thresholds table). Identification and assessment of the risks and opportunities Sustainability issues can be a source of financial opportunities or risks. Financial materiality is determined according to thresholds that impact the Company’s statement of financial position, income statement, or cash flows. The risks identified are taken from the Orano annual risk campaign, known as the “Business Risk Model” (BRM), formulated in a “gross” manner, unlike their presentation as “net risk” in Chapter 3 of this report. The risks were supplemented by opportunities based on interviews or the work of the departments responsible for the area, with their experts or external support. Risks and opportunities were assessed according to the magnitude and likelihood as required by the standard. Materiality determination Impacts such as risks and opportunities were assessed as the product of severity and probability. The group selected all IROs with a score greater than nine and all IROs with a severity of four. This last point applies to all topics, particularly human rights issues. The materiality threshold is taken uniformly according to the subtopics, activities and regions.
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