Orano - Annual Activity Report 2024 356 6 STATEMENTS Consolidated financial statements - financial year ended December 31, 2024 NOTE 14 INFORMATION ON JOINT VENTURES AND ASSOCIATES AT DECEMBER 31, 2024 (in millions of euros) Share in net income of joint ventures and associates Investments in joint ventures and associates Share in negative net equity of joint ventures and associates ETC (12) - 32 SI-nerGIE - - - Accelerated Decommissioning Partners (ADP) - 9 - Neomat CAM - 10 - Neomat PCAM - 10 - Other joint ventures and associates - - - TOTAL (12) 30 32 Orano considers that it has a constructive obligation to ensure the continuity of operations of ETC (joint venture equally owned by Orano and URENCO) and SI-nerGIE (GIE jointly owned by Orano and Framatome - see Note 28); as a result, and in accordance with the provisions of IAS 28, Orano recognizes the share of negative equity as a liability in its consolidated statement of financial position and its share of negative net income in its consolidated income statement and statement of comprehensive income. Relationships with joint ventures and associates are described in Note 28. AT DECEMBER 31, 2023 (in millions of euros) Share in net income of joint ventures and associates Investments in joint ventures and associates Share in negative net equity of joint ventures and associates ETC 6 - 21 SI-nerGIE 1 - - Interim Storage Partners (ISP) (9) - - Accelerated Decommissioning Partners (ADP) (1) 8 - Other joint ventures and associates - - - TOTAL (3) 8 21 The impacts of changes in equity and fixed-rate markets on the valuation of earmarked financial assets are summarized in the following table: (in millions of euros) December 31, 2024 ASSUMPTION: DECLINING EQUITY MARKETS AND RISING INTEREST RATES -10% on equities (394) +100 basis points on fixed-income products (85) TOTAL (489) ASSUMPTION: RISING EQUITY MARKETS AND DECLINING INTEREST RATES +10% on equities 394 -100 basis points on fixed-income products 85 TOTAL 489
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