Orano - Annual Activity Report 2024 371 STATEMENTS 6 Consolidated financial statements - financial year ended December 31, 2024 SI-nerGIE is a consortium (groupement d’intérêt économique – GIE) created at the time of the restructuring of AREVA; it is owned by Orano and Framatome (owned by EDF). Its purpose is to share the infrastructure and certain applications of a joint information system and, as such to avoid the additional costs and operational risks relating to information systems. Orano CIS LLC, owned by Orano USA, and Waste Control Specialists (WCS) have created a joint venture named Interim Storage Partners (ISP), held at 51% and 49% respectively, in order to operate a centralized used fuel storage facility on the WCS site in Texas. Orano NPS is providing its unique expertise in cask design, transportation and used fuel storage. WCS brings its experience of operating a single facility serving both the nuclear industry and the U.S. Department of Energy (DOE). In September 2021, the U.S. Nuclear Regulatory Commission (NRC) granted ISP a 40-year license to receive, hold, transfer and store up to 5,000 metric tons of used fuel (phase 1) and up to 231 metric tons of high-level radioactive waste in a Consolidated Interim Storage Facility (CISF) in Andrews, Texas. The NRC’s decision has since been challenged in several courts by the states of Texas and New Mexico, by environmental and anti-nuclear groups, local landowners and mine owners. As a result, the project was put on hold. Accelerated Decommissioning Partners (ADP) is a joint venture between Orano (25%) and Northstar, a key player in industrial decommissioning and asbestos removal. It is consolidated using the equity method. In the United States, the utility Duke Energy has entrusted the complete dismantling and management of used fuel from its Crystal River 3 plant (Florida) to ADP. This global contract of nearly 540 million US dollars, signed on September 30, 2020, notably covers the cutting and packaging of the reactor core, which will be carried out by the American Dismantling and Services teams (Orano Decommissioning Services LLC). The cutting operations ended in November 2023 and the transport of waste to the storage site of the service provider WCS in Texas was completed in November 2024. Spectrano is a joint venture between Spectra Tech, Inc., an American company, and Orano Federal Services. The objective of this joint venture is to respond to calls for proposals issued by the United States Department of Energy and its subcontractors and to provide the required services. Neomat PCAM and Neomat CAM are joint ventures created in 2024 (see Note 1.1). Joint operations Orano Canada Inc holds interests in uranium deposits and ore processing plants. These investments are classified as joint operations. They are thus consolidated for the share held by Orano Canada Inc. The most significant investments are as follows: Cigar Lake Cigar Lake is owned by Cameco Corporation (54.547%), Orano (40.453%), and TEPCO Resources Inc (5%). The deposit is mined by Cameco and the ore is processed at the JEB - McClean Lake plant, operated by Orano. This deposit is an underground mine. Mining uses land freezing techniques combined with high-pressure waterjet boring (JET boring). McClean Lake McClean Lake is owned and operated by Orano (77.5%) together with its partner, Denison Mines Ltd (22.5%). This joint activity operates the JEB mill, which processes the ore from Cigar Lake using the dynamic leaching method. McArthur River McArthur River is owned by Cameco Corporation (69.8%) and Orano (30.2%). The mined ore is processed at the Key Lake mill. This deposit is mined underground using ground freezing techniques combined with mechanical extraction (raise boring) or explosives (long hole stopping). Key Lake This plant is owned by Cameco Corporation (83.33%) and Orano (16.67%). It processes the ore from McArthur River. Compensation paid to key executives (in thousands of euros) December 31, 2024 December 31, 2023 Short-term benefits 6,520 6,360 Termination benefits - 220 Post-employment benefits 130 (112) TOTAL 6,650 6,468 The key executives are: ● the Chairman of the Board of Directors and the Chief Executive Officer appointed by the Board of Directors; ● members of the Executive Committee.
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