Orano - Annual Activity Report 2025 68 3 RISK CONTROL AND VIGILANCE PLAN Methodology: risk mapping and risk management The Risk Management Division coordinates the deployment of the risk mapping process, in collaboration with the Business Unit risk leaders (each of which has a network of dedicated correspondents within their operating entities), and consolidates all identified risks at group level. The latter are analyzed and ranked on three axes: impact, likelihood and degree of control. By producing this map, elements of proposals and decisions can be compiled on the implementation of action plans intended to reduce risks to an ALARP (As Low As Reasonably Practicable) level. The operating entities are responsible for identifying, analyzing and prioritizing their risks and then managing them by implementing action plans, allocating the appropriate resources and monitoring their proper execution and the effects of these action plans on risks. The risk committee coordinates, for all activities and on a worldwide basis, the analysis of the group’s main risks and monitoring the action plans necessary to limit those risks. As part of its missions, the risk committee draws on all of the group’s expertise. Its composition brings together the key functional areas in the Company that can provide special expertise or knowledge, enabling it to assess the criticality of the risks and their potential consequences. The risk committee is an internal governance body chaired by the Chief Financial Officer, in which the members of the executive (1) committee identify and formalize the list of the group’s major risks and appoint, for each of them, a “lead” member. More specifically, the latter is responsible for ensuring that there are appropriate action plans and for reporting on their progress to the risk management committee. This mapping is presented annually to the audit and ethics committee of the Board of directors. Based on this work, the main risk factors identified are described in Section 3.3 below. 3.2.2 Risk coverage and insurance To limit the consequences of certain potential events on its operations and financial position, the group uses risk transfer techniques with leading insurers and re-insurers on the international markets, as well as with certain specialized mutual companies, particularly those specialized in covering nuclear risks. Orano has accordingly taken out insurance coverage for its industrial risks, its civil liability and other risks related to its nuclear and non-nuclear operations. The amount of the respective guarantees varies according to the type of risk and the group’s exposure. Some risk factors were they to materialize could be covered by one or several of the insurance policies taken out by the group as part of its insurance policy. The insurance policy is led worldwide by the Orano group’s Insurance Department, which: ● supports the various sites in reducing and preventing their exposure to risks; ● proposes to the executive management of the group and its subsidiaries internal financing solutions or the transfer of these risks to the insurance market; ● negotiates, implements, and manages the worldwide insurance programs for the entire group and reports to group executive management on the actions undertaken and costs incurred; and ● steers the management of strategic claims, with the support of the subsidiaries concerned. 3.2.2.1 Worldwide group insurance programs The Orano group’s partnership with insurers whose financial ratings and expertise are recognized worldwide offers protection against the risks of the insurance market. Liability insurance Civil liability The civil liability insurance program covers the financial consequences of civil liability that may be incurred by operational entities as a result of their activities due to bodily injury, property damage and non-material damage caused to third parties, other than the liability of nuclear facility operators. The coverage levels for conventional civil liability insurance are based on the amounts of guarantee available on the insurance market, and the quantification of the risks reasonably foreseen by the group and identified by the operational units, in particular, when the annual risk mapping takes place. The subsidiaries of the Orano group benefit from the guarantees of a “worldwide” civil liability program, whose capacity is adapted to the nature of their activities and their size. The program covers: ● civil liability for damage caused to third parties belonging to the group during the performance of activities by each subsidiary of the group, whether on Orano sites or during services provided to customers at their premises; ● civil liability after delivery or after service; and ● professional civil liability, which deals with the financial consequences of damage following the provision by a group company of a service. (1) The composition of the executive committee as of the date of this report is set out in Chapter 1 in Section 1.5. A responsible and fully committed governance.
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