Orano - Annual Activity Report 2025 323 FINANCIAL STATEMENTS 6 Consolidated financial statements – financial year ended December 31, 2025 Standards, amendments and interpretations published by the IASB but not adopted by the European Union at January 1, 2025 ● IFRS 18 “Presentation and disclosures in financial statements”, the impacts of whose implementation are currently being analyzed; ● IFRS 19 “Information to be provided by Subsidiaries without Public Accountability”; and ● amendment to IAS 21 “Translation to a hyperinflationary presentation currency”. Standards, amendments and interpretations adopted by the European Union that do not yet require mandatory application at January 1, 2025 ● amendment to IFRS 9 and IFRS 7 “Classification and Measurement of Financial Instruments”; ● amendment to IFRS 9 and IFRS 7 “Renewable Energy Purchase Contracts”; ● annual improvements – IFRS 1, IFRS 7, IFRS 9, IFRS 10 and IAS 7. Amendments and interpretations that came into force on January 1, 2025 ● amendment to IAS 21 “Lack of Exchangeability”. This amendment has no significant impact on the financial statements. 1.3.2 Financial statement presentation rules Current and non-current assets and liabilities The assets and liabilities constituting working capital requirement in the normal business cycle are classified as current in the consolidated statement of financial position. End-of-lifecycle liabilities, given their nature, are classified as non-current. Other assets and liabilities are classified as current or non-current depending on whether their maturity is greater or lesser than one year from the reporting date. Other operating income and expenses Income and expenses that, by nature, are unusual, abnormal, or infrequent are included in other operating income and expenses. This heading includes: ● impairment and reversals of impairment for loss of value; ● gains or losses on disposals of non-financial assets; ● changes in provisions for end-of-lifecycle operations on discontinued facilities caused by changes in cost estimates; ● dismantling and waste treatment and retrieval costs, as well as changes in the corresponding provisions; ● the effects of restructuring plans; and ● the effects of amendments to pension plans and other postemployment benefits. 1.3.3 Consolidation methods Subsidiaries Entities over which the group exercises exclusive control are fully consolidated. Control by the group over its subsidiaries is based on its exposure or entitlements to variable income resulting from its investment in these entities, as well as its ability to exercise power over the entity in such a way as to influence the amount of the returns it receives. However, in cases where the consolidation of an entity (or a group of entities) represents an insignificant interest in terms of providing a true and fair report, the group has chosen not to consolidate it. Intra-group balances and transactions are eliminated. The acquisition date from which the group consolidates the financial statements of the acquiree is the date of its effective takeover. Non-controlling interests in the net assets of consolidated subsidiaries are presented on a separate line of equity under “noncontrolling interests.” Non-controlling interests include the amount of minority interests as of the acquisition date and the amount represented by minority interests in the change in equity since that date. In the absence of a binding agreement, the negative results of subsidiaries are systematically allocated to equity attributable to the owners of the parent company and to non-controlling interests, based on their respective percentage interests, even if the latter become negative. Transactions with non-controlling interests, without impact on control, are treated as transactions with group shareholders and are recorded in equity. Joint ventures and associates An associate is an entity over which the group exercises significant influence. Significant influence is the power to influence the making of key financial and operational decisions within the entity, without this demonstrating control or joint control of the group. A joint venture is a joint arrangement in which the parties, who exercise joint control, are entitled to a share of the net assets of the joint venture. Joint control is demonstrated when, on the basis of the rights provided for by this agreement, decisions on the relevant activities of the entity require the unanimous agreement of the parties. The factors taken into account to demonstrate significant influence or joint control are similar to those used for analyzing the group’s control over its subsidiaries. Joint ventures and associates are accounted for using the equity method. Interests in joint operations A joint operation is a partnership in which the partners (joint owners), who exercise joint control over the entity, have direct rights over the assets of the entity, and obligations in respect of its liabilities. As a co-investor, the group recognizes the relevant assets and liabilities line by line, as well as the income and expenses related to its interests in the joint operations.
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