Orano - Annual Activity Report 2025 147 SUSTAINABILITY STATEMENT 4 Environmental information MATERIAL IMPACTS, RISKS AND OPPORTUNITIES RELATED TO CLIMATE CHANGE ADAPTATION Type Impacts, Risks and Opportunities Localization in the value chain and time horizon CLIMATE CHANGE ADAPTATION [E1] FUTURE RISK PHYSICAL RISKS TO ORANO’S ACTIVITIES AND ITS VALUE CHAIN CAUSED BY CLIMATE HAZARDS OWN OPERATIONS, UPSTREAM, DOWNSTREAM IRO Climate change (high temperatures, water stress, heavy rainfall, etc.) could slow down or stop Orano’s activities (transport of nuclear products, industrial operations in the event of high heat, etc.). Description Climate change could hamper Orano’s production capacity and ultimately the group’s revenue. This risk could occur within 10 years. A climate adaptation plan generating investments is underway. FUTURE RISK RISK FOR ORANO OF AN UPSTREAM VALUE CHAIN NOT ADAPTED TO CLIMATE CHANGE UPSTREAM IRO Climate change could generate tensions on the supply of raw materials, materials, and equipment necessary for the activity. Description Climate change could impact supply chains as well as access to certain resources over the next 10 years. This could impact the group’s production capacities and therefore its revenue or production costs. 4.2.1.3 Resilience of the business model to climate change Since 2021, Orano has been part of the Task Force on ClimateRelated Financial Disclosures (TCFD). The group has therefore included in its risk analyses a dimension to identify the physical risks related to climate change scenarios. The least ambitious scenarios in terms of the fight against climate change, because they are high emitters of greenhouse gases (GHG), are the most likely to generate physical risks and have an impact on the group’s activities. In addition, following this methodology and wishing to improve the quality of its work with regard to the benchmarks studied, the group has identified the impacts related to climate change on the continuity of its activities (transition risk) in the light of different global warming scenarios by 2050. The scenarios taken into account in the analysis are those of the World Energy Outlook (WEO) of the International Energy Agency (IEA) and the Intergovernmental Panel on Climate Change (IPCC) (RCP 4.5 and RCP 8.5 scenarios of the IPCC). Physical risks The physical risks related to climate change were analyzed on the basis of the RCP-4.5 and RCP-8.5 emission scenarios, up to 2050 and beyond, in a manner consistent with the expected life of the activities. The potential impacts on the operating conditions of plants (in France), mines (in operation, in the project phase, and for remediated sites), suppliers, and flows of radioactive materials were identified on the basis of work carried out internally and with the support of a consulting firm. Analysis of the physical risks shows that the vulnerability of Orano’s activities is moderate but that the vulnerabilities identified require an adaptation plan to be defined and prepared. The main levers for adapting to climate vulnerabilities, detailed below, were cobuilt with the operating sites in 2022. Since then, all of the group’s industrial operations have worked on formalizing their adaptation plans and amending them annually.
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