Orano - Annual Activity Report 2024 26 2 SITUATION AND ACTIVITIES OF THE COMPANY AND ITS SUBSIDIARIES DURING THE PAST FINANCIAL YEAR Highlights of the financial year Orano are described in the MAT.1 report of the 2022-2026 PNGMDR. ● Orano’s Stable Isotopes business grew in 2024, with the first deliveries to customers of the Laboratoire d’Isotopes Stables (LIS) “Jean Fourniols”. The first customers, in the quantum computing and medical fields, received the first production of stable isotopes in the spring of 2024. The creation of this new stable isotope production laboratory meets three main objectives: ● meet the demands of strategic high-tech markets in medical imaging and radiotherapy, industry and research, in particular by contributing to the creation of a national industrial production chain for the quantum industry; ● offer a French alternative to the two current global suppliers (Dutch and Russian) and strengthen French and European sovereignty; and ● help develop the value of nuclear industry technologies outside power generation, by creating expertise in France in isotope separation and the chemistry of non-nuclear elements, enabling capitalization on French expertise in uranium enrichment and chemistry, and perpetuating it in the short, medium and long term. 2.1.2.3 Back End Recycling ● Orano signed with EDF, in October 2024, the ATR contract (Treatment and Recycling Agreement) for the period 2024-2026 and, in December 2024, the contracts “Densification of the la Hague pools”, to increase the used fuel storage capacities of the pools, and the “GoMOX” contract intended to provide the Melox plant with redundant machines to increase the plant’s capacity. ● Following the example of the METALL+ contract signed with the German electricity companies in 2021, in November 2024, Orano signed with several Japanese electricity companies and the Nuclear Reprocessing and Decommissioning Facilitation Organization of Japan (NuRO) the latest contract representing the balance after successive agreements. These contracts, for a total amount of more than one billion euros, concern the return of the rest of the Japanese nuclear waste stored at the la Hague plant. These contracts represent the balance of all commitments made between 1981 and 1999 for waste from Japanese utilities. They provide for the return of the equivalent in metallic mass and radioactivity of the waste contained in the used fuel elements from Japanese reactors. These agreements entered into force on November 27, 2024 after authorization received from the DGEC. ● In June 2024, after the UP3 plant in mid-2023, Orano worked to connect the new evaporators at the UP2 plant, thus marking the end of the project to renovate the Fission Products Concentration capacities of the la Hague plants. ● At the end of November 2024, Orano signed two MOX fuel assembly production contracts with the Japanese industrial company MHI (Mitsubishi Heavy Industries Ltd). These assemblies are intended to supply the Japanese utilities Kyushu Electric and Shikoku Electric. Nuclear Packages and Services ● Orano operates on the European, Asian and American markets via contracts worth several hundred million euros for the shipping, dismantling of packages and dry storage of used fuel. ● The development of the TN Eagle continues with, in particular: ● The inauguration in October 2024 of the TN Eagle Factory (TEF), a new TN Eagle packaging manufacturing 4.0 plant, ● New TN Eagle packaging manufacturing orders in Europe and Asia, ● Work to obtain approvals from the Swiss, Belgian and Japanese safety authorities. ● As part of the consortium agreement signed in 2023 between Orano and Urenco, the 30B-X cylinder was successfully tested at the Orano and Urenco facilities, thus making it possible to consider mass production. This new cylinder is designed for future transport of LEU+ (Low Enriched Uranium)/HALEU (HighAssay Low Enriched Uranium) fuel. ● Orano is actively involved in the development of logistics solutions for new generations of nuclear reactors and in particular small modular nuclear reactors - SMR type - or small so-called advanced reactors - AMR type. Dismantling and Services (DS) ● In a context of relaunch of the nuclear industry and ambitions for new nuclear activities in France, the Orano DS teams are already mobilized to meet these challenges. Orano DS reinforced its leading position in the Global Site Assistance Service (PGAC) for its customer EDF with a presence in 90% of the French nuclear fleet. Orano is also continuing its development strategy for maintenance activities. From a commercial standpoint, Orano DS won several major contracts, including the operation of the Intermediate Polyvalent Storage Facility (EIP) and the South Zone Installation (IZOS) on the CEA site in Marcoule, in the south-east of France. For the French nuclear fleet, the entity won several contracts relating to the work prior to the dismantling of the Fessenheim plant. These contracts and others with French nuclear operators have made it possible to renew and strengthen the backlog and to confirm the progression of its services in support of production at Orano’s industrial sites as well as those in support of EDF and of the CEA. ● Internationally, the Orano Decommissioning Services LLC teams successfully completed a global project: the dismantling and transportation of the pressurized water reactor at the Crystal River 3 nuclear power plant in Florida in the United States. Thanks to the involvement and cross-functional knowhow of the local teams of Orano and its partners, all stages of this flagship dismantling project were completed in less than four years. This is a record time for this type of project, which began in June 2020 thanks to the implementation of a patented segmentation process that has drastically limited the amount of waste and transport required for their disposal. Orano has been involved in a quarter of all dismantling projects carried out worldwide to date. The dismantling of four other reactor cores in Germany is continuing in accordance with the commitments made.
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