Orano - Annual Activity Report 2025 181 SUSTAINABILITY STATEMENT 4 Environmental information 4.2.4 Responsibly managing our liabilities [E2] 4.2.4.1 IRO related to liabilities management For its materiality analysis and the identification of Impacts, Risks and Opportunities (IRO), Orano relied on its existing mapping (risks, vigilance), the knowledge of its experts and existing studies (impact studies, specific studies, etc.) as well as interviews with 150 stakeholders, as described in Section 4.1.5.2 Double materiality analysis methodology. In order to determine the IROs for the “Pollution” theme, Orano relied on interviews with its stakeholders, its risk analyses and its impact studies. The group has determined that “Management of liabilities and end-of-life of sites” is material. This topic is also included in the EFRAG draft sector guide on mining activities. MATERIAL IMPACTS, RISKS AND OPPORTUNITIES RELATED TO LIABILITIES MANAGEMENT AND SITES’ END-OF-LIFE Type Impact, Risk and Opportunity Localization in the value chain and time horizon LIABILITIES MANAGEMENT AND SITES END-OF-LIFE [E2] POTENTIAL NEGATIVE IMPACT POTENTIAL IMPACT OF AN ACCIDENTAL SPILL OF RADIOACTIVE OR HAZARDOUS SUBSTANCES OWN OPERATIONS, UPSTREAM IRO An accidental spill of hazardous or radioactive substances (environmental incident, breakwater, etc.) can cause environmental scars. Description Accidental pollution would impact the environment, as well as the working conditions of employees, the living conditions of local residents, and the group’s image. Through its actions and investments in nuclear and industrial safety, Orano makes every effort to avoid accidental spills and limit their consequences on people and the environment. FUTURE RISK FINANCIAL RISK RELATED TO ENVIRONMENTAL INCIDENTS AND LIABILITY MANAGEMENT OF INDUSTRIAL AND MINING SITES OWN OPERATIONS, UPSTREAM, DOWNSTREAM IRO Incidents, poor management of the environmental responsibility of industrial and mining sites (historical scars, failure to manage long-term mineral processing residues, changes in regulations, etc.) would have a negative impact on the group’s finances. Description Additional costs in terms of environmental incidents or remediation are likely to impact the group’s results. Reputational damage is likely to impact the group’s revenue. Through its actions in terms of nuclear safety and industrial safety, Orano makes every effort to avoid accidental spills and limit their consequences. Regular assessments of provisions for the end-of-life of industrial sites and the remediation of mining sites are carried out so that provisions can be updated. FUTURE RISK RISK RELATED TO THE ESTIMATED COSTS OF DECOMMISSIONING NUCLEAR FACILITIES OWN OPERATIONS, UPSTREAM IRO Changes in regulations concerning the decommissioning conditions of nuclear sites, the review of the initial state of the facility at the time of decommissioning or its update, the increase in project execution costs or the uncertainty related to radioactive waste management channels would increase the decommissioning costs of the group’s facilities. Description Orano has 9 billion in assets to cover the end-of-life expenses of its facilities. The main risk for the group is related to the uncertainty that the amounts provisioned for end-of-lifecycle operations will correspond to the costs actually incurred by the group in respect of its decommissioning obligations. It is therefore possible that end-of-lifecycle commitments and the associated expenses or an additional obligation of a nuclear or environmental nature that the group may subsequently have to bear could have a significant negative impact on its financial position.
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