Orano - Annual Activity Report 2024 398 6 FINANCIAL STATEMENTS Company financial statements - financial year ended December 31, 2024 NOTE 3 CHANGES IN ACCOUNTING POLICIES The valuation methods used for this financial year were unchanged compared to the previous financial year. NOTE 4 EVENTS AFTER THE END OF THE FINANCIAL YEAR No events after the reporting period that could have a material impact on the Company’s financial statements were identified. 2.8 Provisions for contingencies and losses In accordance with ANC Regulation No. 2014-03 on liabilities, a provision for contingencies and losses is recognized when there is an obligation to a third party at the reporting date, this obligation being legal, contractual or implicit, and being subject to a probable outflow of resources to the benefit of this third party without at least equivalent consideration expected after the reporting date. A reasonably reliable estimate of this net outflow must be determined in order to recognize a provision. 2.9 Exceptional items Items related to the Company’s ordinary operations are recognized in operating income even if they are exceptional in terms of frequency or amount. Only items that are not related to the Company’s ordinary operations are recognized as exceptional items in the income statement, in addition to transactions specifically qualified as exceptional items under French GAAP (regulated provisions, reversals of equipment subsidies, gains on disposal of certain assets, etc.). 2.10 Tax information From September 1, 2017, Orano SA opted to be solely responsible for income tax due on the combined income of the group consisting of Orano SA and the subsidiaries in which it holds at least 95% of the share capital, as provided for in Article 223A of the French General Tax Code. This regime remains in effect for the financial year ended December 31, 2024. Under the tax consolidation, Orano SA signed an agreement with each of its subsidiaries to manage their relationship in terms of recognizing income tax expense, paying any taxes, and identifying and transferring tax credits. This agreement observes the principle of neutrality, in that it stipulates that each consolidated company determines its own income tax expense as if it had been taxed separately. It lays out the rules that will apply should a subsidiary leave the tax consolidation, and that will continue to uphold neutrality, and refers to the future creation of a withdrawal agreement if that were to happen.
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