Summary 2 1 5 6 7 3 4 4.6 Report on the certifi cation of sustainability information and verifi cation of the disclosure requirements under Article 8 of Regulation (EU) 2020/852 262 GOVERNANCE OF THE COMPANY AND GENERAL INFORMATION 267 5.1 Administration and management of the Company 268 5.2 Compensation of corporate offi cers 295 5.3 Corporate Governance Reference Code 304 5.4 Additional information 305 5.5 Share capital and shareholding structure 309 FINANCIAL STATEMENTS 313 6.1 Consolidated fi nancial statements – fi nancial year ended December 31, 2025 314 6.2 Statutory Auditors’ report on the consolidated fi nancial statements 383 6.3 Company fi nancial statements – fi nancial year ended December 31, 2025 389 6.4 Statutory Auditors’ report on the fi nancial statements 421 MISCELLANEOUS INFORMATION 425 7.1 Statutory Auditors 426 7.2 Injunctions or fi nes for anti-competitive practices 426 7.3 Information on employee representative bodies 426 7.4 Information on payment terms 427 7.5 Information on loans granted to other companies pursuant to Articles L. 511-6 and R. 511-2-1-1-II of the French Monetary and Financial Code 427 7.6 Five-year fi nancial summary 428 7.7 Table of subsidiaries and associates 428 7.8 List of French companies indirectly controlled by Orano at December 31, 2025 429 7.9 Financial glossary 431 PRESENTATION OF THE ORANO GROUP 5 1.1 Overview of Orano 6 1.2 Contribute to key global issues 8 1.3 Our activities 10 1.4 An operational risk management 12 1.5 A responsible and fully committed governance 13 1.6 Our value creation model 14 1.7 Sharing with our stakeholders 16 1.8 A committed roadmap for 2030 19 1.9 Financial and non-fi nancial performance 20 SITUATION AND ACTIVITIES OF THE COMPANY AND ITS SUBSIDIARIES DURING THE PAST FINANCIAL YEAR 23 2.1 Highlights of the fi nancial year 24 2.2 Simplifi ed group organization chart – subsidiaries, equity interests and branch offi ces 30 2.3 The group’s businesses 32 2.4 Research and Development activities 47 2.5 Financial situation of the Company and the group during the past fi nancial year 48 2.6 Foreseeable developments and future prospects 58 2.7 Signifi cant post-closing events 60 RISK CONTROL AND VIGILANCE PLAN 63 3.1 Internal control system 64 3.2 Methodology: risk mapping and risk management 67 3.3 Risk factors 70 3.4 Vigilance plan 84 SUSTAINABILITY STATEMENT 113 4.1 Societal and environmental challenges at the heart of the strategy 114 4.2 Environmental information 144 4.3 Social and societal information 195 4.4 Governance information 237 4.5 Summary of indicators and cross-reference tables 251 MESSAGES 2
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