Orano - Annual Activity Report 2025 3 Nicolas MAES Chief Executive Offi cer of Orano In an environment that remained favorable to nuclear energy, we continued to steadily implement our strategic action plan, based on its three pillars that are performance, development and the Aval du Futur program. We have placed safety and security at the heart of our actions. A peer review conducted at the end of 2024 at la Hague and then in early 2025 at Corporate by WANO, the World Association of Nuclear Operators, enabled us to compare ourselves with the best and identify new areas for improvement to further strengthen our culture of nuclear professionals, with all that this implies in terms of rigor, high standards, and responsibility. The actions implemented as part of our Opteam26 performance plan have led to significant improvement in industrial performance across all of the group’s plants. Of particular note is the start-up and ramp-up of the nuclear packaging plant in the port of Cherbourg, the commissioning of the new South Tortkuduk plant in Kazakhstan, crossing the threshold of 100 metric tons of recycled nuclear fuel production at Melox and the best level of production at our conversion plants since their modernization. In terms of development, the project to extend the Tricastin enrichment plant is progressing well, with the aim of starting production in 2028 as planned. The credibility of the technology implemented, as well as that of our project teams, convinced the US Department of Energy to award the group a 900 million US dollar grant to build a similar plant in the United States. Furthermore, in the field of cancer treatment, Orano Med’s new activities have reached important milestones with two drug candidates now in development – soon to be four in clinical trials – while we are building the production plant that will enable us to supply doses in Europe and the United States. Finally, in the field of spent fuel processing and recycling, the Aval du Futur program, confirmed by the Nuclear Policy Council at the beginning of the year, is taking shape. With the organization and governance now in place, the feasibility of the first workshops has been announced and the broad outlines of the financing have been approved. At the same time, efforts are underway to attract potential foreign customers for these plants, which will play a decisive role in moving toward a fuel cycle that is increasingly independent of natural uranium by maximizing the recycling of nuclear materials, as well as working with developers of Advanced Modular Reactors. All of this creates a very positive company dynamic, which employees reported in our latest engagement survey and which attracts many candidates. Strengthening our corporate culture and transferring and developing skills are strategic issues that will enable us to meet our challenges. As we celebrate the 50th anniversary of the founding of Cogema, which over the years became Orano, we are mindful of the importance of our mission and our responsibilities to our customers in providing carbon-free, reliable, and competitive energy. We are fully committed to living up to it. "The actions implemented as part of our Opteam26 performance plan have led to significant improvement in industrial performance across all of the group’s plants."
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