Orano - Annual Activity Report 2025 320 6 FINANCIAL STATEMENTS Consolidated financial statements – financial year ended December 31, 2025 Notes to the consolidated financial statements for the year ended December 31, 2025 Summary of notes NOTE 1 Significant events, estimates, judgments and accounting policies 321 1.1 Significant events of the period 321 1.2 Estimates and judgements 322 1.3 Accounting policies 322 NOTE 2 Scope 334 NOTE 3 Segment information 338 NOTE 4 Additional information by type 341 NOTE 5 Other operating income and expense 341 NOTE 6 Reconciliation of operating income to EBITDA 342 NOTE 7 Net financial income (expense) 342 NOTE 8 Income taxes 343 NOTE 9 Goodwill 345 NOTE 10 Intangible assets 347 NOTE 11 Tangible fixed assets 348 NOTE 12 Leases 349 NOTE 13 End-of-lifecycle operations 350 NOTE 14 Information on joint ventures and associates 355 NOTE 15 Other current and non-current assets 357 NOTE 16 Inventories and work-in-process 358 NOTE 17 Trade accounts receivable and related accounts 358 NOTE 18 Contract assets and liabilities 358 NOTE 19 Other operating receivables 359 NOTE 20 Cash and cash equivalents 359 NOTE 21 Cash flow from operating activities 360 NOTE 22 Equity 360 NOTE 23 Non-controlling interests 361 NOTE 24 Employee benefits 362 NOTE 25 Other provisions 366 NOTE 26 Financial liabilities 367 NOTE 27 Other operating liabilities 370 NOTE 28 Related-party transactions 370 NOTE 29 Financial instruments 372 NOTE 30 Additional information on financial instruments 375 NOTE 31 Issues related to climate risks 379 NOTE 32 Off-balance sheet commitments 379 NOTE 33 Backlog 380 NOTE 34 Disputes and contingent liabilities 380 NOTE 35 Statutory Auditors’ fees 382 NOTE 36 Events after the reporting period of December 31, 2025 382
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