Orano - Annual Activity Report 2025 360 6 FINANCIAL STATEMENTS Consolidated financial statements – financial year ended December 31, 2025 NOTE 21 CASH FLOW FROM OPERATING ACTIVITIES CHANGE IN WORKING CAPITAL REQUIREMENT (in millions of euros) December 31, 2025 December 31, 2024 Net change in inventories and work-in-process (207) 109 Net change in trade and other receivables 92 (183) Change in contract assets (6) (19) Change in accounts payable and other liabilities 278 30 Change in contract liabilities 485 (121) Change in advances and prepayments made (28) 9 Change in Forex hedge of WCR (9) 15 Change in other non-current non-financial assets — 22 TOTAL 604 (137) NOTE 22 EQUITY Share capital Orano’s share capital broke down as follows: December 31, 2025 December 31, 2024 French state 90.33% 90.33% CEA 1 share 1 share MHI 4.83% 4.83% JNFL 4.83% 4.83% TOTAL 100% 100% Stock option plan There is no stock option plan.
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