Orano - Annual Activity Report 2025 370 6 FINANCIAL STATEMENTS Consolidated financial statements – financial year ended December 31, 2025 Transactions between the parent company Orano SA and its subsidiaries, as well as those between the group’s subsidiaries and joint activities, are eliminated on consolidation, and are therefore not presented in the tables below. Related-party transactions presented below include: ● current transactions with non-consolidated companies, associates, joint ventures, and companies controlled by the French State; and ● the gross compensation and benefits granted to directors and members of the executive committee. Relations with the French State and State-owned companies At December 31, 2025, the French State owned a majority stake in the share capital of Orano. Consequently, the French State has the ability to control the decisions requiring the approval of shareholders. In accordance with the laws applicable to all companies in which the French State is a shareholder, Orano is subject to certain control procedures, in particular the economic and financial control of the French State, the control procedures of the Court of Auditors and the Parliament, and audits of the General Inspectorate of Finance. The group has close relationships with companies controlled by the French State, including: ● transactions with the CEA concern the dismantling of the CEA’s nuclear facilities, services associated with the operation of certain workshops and R&D contracts; ● transactions with AREVA relate in particular to IT services, Human Resources and insurance provided by Orano; AT DECEMBER 31, 2024 (in millions of euros) Interests held by the French State Associates and joint ventures Total Operating income 2,737 49 2,786 Operating expenses 86 86 172 Trade receivables and other 432 166 598 Trade payables and other (1) 3,654 8 3,663 (1) Balances including IFRS 15 restatements. NOTE 28 RELATED-PARTY TRANSACTIONS AT DECEMBER 31, 2025 (in millions of euros) Interests held by the French State Associates and joint ventures Total Operating income 3,036 21 3,057 Operating expenses 72 87 159 Trade receivables and other 252 233 485 Trade payables and other (1) 3,770 12 3,782 (1) Balances including IFRS 15 restatements. NOTE 27 OTHER OPERATING LIABILITIES (in millions of euros) December 31, 2025 December 31, 2024 Tax liabilities (excluding corporate income tax) 256 207 Social security liabilities 564 543 Financial instruments 32 182 Other 196 210 OTHER OPERATING LIABILITIES 1,049 1,142 At December 31, 2025, other operating liabilities included 96 million euros maturing in more than one year.
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