Orano - Annual Activity Report 2024 57 SITUATION AND ACTIVITIES OF THE COMPANY AND ITS SUBSIDIARIES DURING THE PAST FINANCIAL YEAR 2 Foreseeable developments and future prospects 2.6 Foreseeable developments and future prospects 2.6.1 Future prospects Orano operates in an economic environment marked by strong demand for clean energy and an acceleration of investments in related technologies. Energy security remains a major concern and nuclear energy is perceived as a means of strengthening it, by becoming less dependent on energy imports, while the war in Ukraine is causing turmoil in global energy markets. The nuclear relaunch that began in 2022 marked a new turning point at the end of 2023 at the COP28 in Dubai, where 22 countries committed to tripling global nuclear capacity by 2050. This momentum includes the extension of current nuclear power plants, the construction of new reactors and the development of small modular (SMR) and advanced (AMR) reactors. Advances in the technologies of these reactors offer new opportunities for the sector in several markets, with pilot projects and demonstrations underway in several countries, particularly in Canada, France, Japan, South Korea, the United Kingdom and the United States. China and India continue to invest heavily in nuclear energy, with several reactors under construction and ambitious plans to increase their installed capacity. In its 2024 World Energy Outlook (WEO) report, the International Energy Agency (IEA) anticipates a doubling of the installed capacity in 2050 to 830 GWe in its “Announced Pledges” scenario, and up to 916 GWe in a “Net Zero” scenario to contain global warming to +1.5° C. The IEA and other leading organizations underline the essential role of nuclear energy in achieving global climate goals and ensuring a sustainable energy transition, in combination with renewable energy. Orano is well positioned to take advantage of the changes that are shaping its environment, and is pursuing multiple profitable growth options, both in the historical links of its value chain and in new activities, based on its mastery of materials and its industrial competencies. Communities Orano is committed to the integration of the group’s various sites in their regions with the aim of making a positive contribution to the well-being of all the communities associated with its activities. In addition to the management of its existing sites, Orano aims to co-build its new facilities (Back End of the Future, Batteries, Mining, etc.) with the regions where it is located by responding to the associated environmental, social, cultural and economic challenges. Orano is working to reduce its environmental footprint, in particular to reduce energy and water consumption. Since 2022, Orano has also been rolling out a group-wide biodiversity strategy as part of an approach proportionate to the challenges related to its various activities. As part of the CSRD (Corporate Sustainability Reporting Directive), Orano carried out a new materiality analysis in 2024 and updated its Commitment roadmap by 2030. Orano has integrated all actions related to Water and Biodiversity within the broader framework of a Nature strategy, based on three priorities with associated objectives: preserving nature by reducing our sources of environmental pressure, living with nature on our sites, and promoting nature and reporting on our actions in this area. The Department is in charge of steering the group’s roadmap across all processes and Business Units, with regular monitoring of the achievement of objectives for 2025 and 2030. Climate Orano began a program to reduce its greenhouse gas emissions in 2004. This enabled a 57% reduction in its greenhouse gas emissions (scope 1 and scope 2 market-based) between 2004 and 2019, of which 28% between 2015 and 2019. In 2024, the group worked on a new decarbonization roadmap, and Orano intends to continue its work on reducing greenhouse gas emissions by setting the objective of reducing its total scope 1 and 2 market-based emissions by 25% by 2030 compared to 2019. The Orano teams are also committed to reducing the group’s scope 3 emissions, which represent more than 80% of its total emissions. Orano has a specific action plan on the subject, including work with its suppliers and the general application of ecodesign on all of the group’s major projects. Lastly, in the face of climate change, Orano strengthened plans in 2024 to adapt its sites and activities to physical risks at its facilities and in its value chain: improving resilience to forest fires in Canada, resilience to external risks such as electrical network losses, extreme heat, Cévenol episodes, etc. Through its activities, Orano aims to be an exemplary company in the fight against climate change, setting itself the goal of contributing to carbon neutrality, while promoting the advantages of nuclear power through initiatives to educate the general public and raise awareness of climate issues. Competencies 100,000 new hires in the industry are expected over the next 10 years to support the nuclear recovery (see the 2023 GIFEN report). In this promising but also competitive context in terms of skills, Orano is stepping up its efforts to strengthen its appeal and visibility in order to attract and integrate the group’s employees, as well as to train them for the challenges of tomorrow. Through its employer brand, Orano aims to unite teams around a unique culture, based on the positive impact of the group’s activities on society and the construction of an agile and learning
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