Orano - Annual Activity Report 2025 79 RISK CONTROL AND VIGILANCE PLAN 3 Risk factors As part of its commitment to fairness, prevention, well-being and employee involvement, Orano has decided to carry out a group-wide review of employee benefits to ensure that all employees, wherever they are based, enjoy a minimum level of social protection. Following the signing of the Working With Cancer Charter at the end of 2024, the new agreement on the development of quality of life and working conditions, signed in October 2025, includes new measures for employees facing the disease, particularly employees with long-term illnesses or in a caregiver situation. Through these approaches, the group is affirming its commitment to improving support for its employees, promoting healthy behaviors, strengthening support for employees affected by a disease, and making its actions part of a global drive for well-being in the workplace. In 2025, the group distinguished itself through several rankings: ● 51st place in the Universum ranking of engineering school students (+27 places compared to 2021); ● 2nd place in the “Inspiring mission of the Company” ranking of the Universum ranking of students in engineering schools; ● 4th place in the HappyTrainees® ranking of companies that host between 1,000 and 1,999 interns and work-study students; ● Top 10 most family-friendly companies in 2025, according to Parents On Board; ● Woman of the Year at the Trophées des femmes de l’industrie by Usine Nouvelle for the second consecutive year. 3.3.3.3 Health and occupational safety risks Description of the risk In the course of their activities, the group’s employees, service providers or subcontractors may be exposed to radiological (radiation), chemical (lead, etc.), and conventional risks (mainly those targeted by our anchors and standards). The main risks are as follows: ● a serious or fatal accident of an employee of the group or of an external company; ● contamination or irradiation of an employee of the group or an external company; and ● a lack of physical protection in the work environment and during business travel. The occurrence of such events could lead to court proceedings against the group that could adversely impact its reputation and result in the payment of significant damages. In 2025, the group saw an improvement in its workplace accident frequency rate with lost time (rate = 1) compared to financial year 2024, (rate = 1.1). Risk management measures The main actions of the group’s Health, Safety, Security Radiation Protection and Environment Policy for 2024-2026 were rolled out on: ● continued roll-out of the Santé Attitude prevention program for employees; supplemented by an extension of the offer and the introduction of monthly consultations on sites (dermatologist and/or midwife); ● the strengthening of a dynamic health prevention system (vaccination campaigns, implementation of the Working With Cancer Charter by including all international employees, the signing of agreements with inter-company Prevention and Occupational Health Services, etc.); ● a listening and support system deployed and monitored on all sites and entities, including for expatriates; ● strengthening of the radiation protection and workplace safety culture, in particular through the integration of these areas into the safety culture self-assessments; the creation of two new standards completes the system of fundamental rules, the application of which is non-negotiable. A visual support in the form of an impactful video was developed to relay these safety messages; and ● capitalizing on feedback from events right down to the weakest signals, and sharing best practices. The actions carried out and the measures taken to prevent major risks taken by the group are detailed in Section 3.4.2 and Section 4.3.1.2 of the 2025 Annual Activity Report. 3.3.4 Financial risks for the group Orano has an organization dedicated to implementing financial risk management policies approved by Executive Management for centralized management of the exposure to foreign exchange, commodity, interest rate and liquidity risks. 3.3.4.1 Risks related to the group’s ability to finance its organic and external growth Description of the risk In an environment favorable to nuclear energy in France and around the world, in order to meet climate and sovereignty issues in particular, the group has defined a strategic roadmap with major investment and growth project milestones. The group’s ability to refinance its existing debt or raise the funds necessary to achieve its strategic roadmap could be affected if access to capital markets becomes difficult following any unfavorable changes in the macroeconomic situation or a downgrade of Orano’s rating by rating agencies.
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