| EDITORIALS |
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| 1. PRESENTATION OF THE ORANO GROUP |
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| 1.1 Overview of Orano |
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| 1.2 Contribute to key global issues |
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| 1.3 Our activities |
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| 1.4 An operational risk management |
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| 1.5 A responsible and fully committed governance |
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| 1.6 Our value creation model |
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| 1.7 Sharing with our stakeholders |
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| 1.8 A committed roadmap for 2030 |
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| 1.9 Financial and non-financial performance |
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| 2. SITUATION AND ACTIVITIES OF THE COMPANY AND ITS SUBSIDIARIES DURING THE PAST FINANCIAL YEAR |
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| 2.1 Highlights of the financial year |
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| 2.1.1 Capital increase of Orano SA subscribed by the French State |
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| 2.1.2 Business highlights |
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| 2.2 Simplified group organization chart – subsidiaries, equity interests and branch offices |
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| 2.2.1 Simplified group organization chart at December 31, 2024 |
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| 2.2.2 Acquisitions of equity interests and takeovers during the past financial year |
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| 2.2.3 Branch offices and representation offices |
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| 2.3 The group’s businesses |
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| 2.3.1 Mining |
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| 2.3.2 Front End |
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| 2.3.3 Back End |
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| 2.3.4 Other activities of Orano |
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| 2.4 Research and Development activities |
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| 2.5 Financial situation of the Company and the group during the past financial year |
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| 2.5.1 Summary of key figures and segment information |
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| 2.5.2 Consolidated financial statements for the past financial year |
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| 2.5.3 Separate financial statements for the past financial year |
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| 2.5.4 Dividends |
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| 2.5.5 Non-tax deductible expenses |
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| 2.6 Foreseeable developments and future prospects |
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| 2.6.1 Future prospects |
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| 2.6.2 Orano’s financial outlook |
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| 2.7 Significant post-closing events |
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| 2.7 .1 Significant events between the reporting date and the preparation date of the management report |
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| 2.7.2 Significant events between the preparation date of the report and the date of the General Meeting |
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| 3. RISKS, CONTROL AND DUTY OF VIGILANCE PLAN |
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| 3.1 Internal control system |
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| 3.1.1 Commitments of the Orano group |
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| 3.1.2 Internal control objectives |
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| 3.1.3 Organization of the internal control system |
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| 3.2 Methodology: risk mapping and risk management |
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| 3.2.1 Risk management policy and methodology |
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| 3.2.2 Risk coverage and insurance |
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| 3.3 Risk factors |
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| 3.3.1 Geopolitical risks |
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| 3.3.2 Risks related to the group’s business activities |
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| 3.3.3 Risks related to social, societal and environmental commitment |
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| 3.3.4 Financial risks for the group |
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| 3.3.5 Regulatory and legal risks |
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| 3.4 Duty of vigilance plan |
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| 3.4.1 Risk mapping related to the duty of vigilance |
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| 3.4.2 Measures applied in the prevention of duty of vigilance risks |
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| 3.4.3 Regular risk assessment |
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| 3.4.4 Orano trains its employees and suppliers, and operates a process for collecting and processing reports |
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| 3.4.5 Monitoring measures and assessing their effectiveness |
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| 4. SUSTAINABILITY STATEMENT |
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| 4.1 Societal and environmental challenges at the heart of the strategy |
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| 4.1.1 General information on the sustainability statement |
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| 4.1.2 Sustainability taken to the highest level of the company |
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| 4.1.3 ESG at the heart of the group’s strategy |
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| 4.1.4 A group connected to its ecosystem |
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| 4.1.5 Significant Impacts, Risks and Opportunities and materiality of the topics |
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| 4.2 Environmental information |
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| 4.2.1 Contributing to carbon neutrality and adapting to climate change [E1] |
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| 4.2.2 Limiting our footprint on freshwater [E3] |
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| 4.2.3 Anticipating impacts on biodiversity [E4] |
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| 4.2.4 A responsible management of our liabilities [E2] |
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| 4.2.5 An industrial actor committed to the preservation of resources, the circular economy and waste optimization [E5] |
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| 4.3 Social and societal information |
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| 4.3.1 Mobilizing proud and committed employees who embody our purpose [S1] |
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| 4.3.2 Committing our upstream value chain to preserving health, safety and human rights [S2] |
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| 4.3.3 Being engaged and responsible locally in the regions where Orano operates [S3] |
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| 4.3.4 Operating efficiently for citizens [S4] |
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| 4.4 Governance information |
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| 4.4.1 Being exemplary in terms of ethics and business conduct [G1] |
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| 4.5 Summary of indicators and cross-reference tables |
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| 4.5.1 Summary of indicators |
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| 4.5.2 Table required by Annex B of ESRS 2 for other European regulations |
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| 4.5.3 Cross-reference table between TCFD recommendations and this 2024 Annual Activity Report |
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| 4.6 Report on the certification of sustainability information and verification of the disclosure requirements under Article 8 of Regulation (EU) 2020/852 for Orano SA, for the year ended December 31, 2024 |
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| 5. CORPORATE GOVERNANCE AND GENERAL INFORMATION |
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| 5.1 Administration and management of the Company |
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| 5.1.1 Composition of the Board of Directors |
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| 5.1.2 Functioning of the Board of Directors |
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| 5.1.3 Other Committee |
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| 5.1.4 Executive Management |
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| 5.2 Compensation of corporate officers |
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| 5.2.1 Compensation policy for the Company’s corporate officers |
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| 5.2.2 Compensation for the 2024 financial year |
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| 5.3 Corporate Governance Reference Code |
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| 5.4 Additional information |
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| 5.4.1 General information about the Company |
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| 5.4.2 Articles of incorporation and Articles of Association |
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| 5.4.3 Participation of shareholders in General Meetings |
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| 5.4.4 Related-party agreements and commitments |
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| 5.4.5 Main features of the Company’s internal control and risk management systems as part of the financial reporting process |
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| 5.5 Share capital and shareholding |
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| 5.5.1 Share capital |
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| 5.5.2 Distribution of the Company’s capital and voting rights |
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| 5.5.3 Securities not representing capital |
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| 5.5.4 Transactions referred to in Article L. 621-18-2 of the French Monetary and Financial Code during the financial year |
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| 6. FINANCIAL STATEMENTS |
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| 6.1 Consolidated financial statements - financial year ended December 31, 2024 |
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| 6.2 Statutory Auditors’ report on the consolidated financial statements for the financial year ended December 31, 2024 |
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| 6.3 Company financial statements - financial year ended December 31, 2024 |
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| 6.4 Statutory Auditors’ report on the Company financial statements for the financial year ended December 31, 2024 |
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| 7. MISCELLANEOUS INFORMATION |
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| 7.1 Statutory Auditors |
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| 7.2 Injunctions or fines for anti-competitive practices |
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| 7 .3 Information on employee representative bodies |
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| 7.4 Information on payment terms |
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| 7.5 Information on loans granted to other companies pursuant to Articles L. 511-6 and R. 511-2-1-1-II of the French Monetary and Financial Code |
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| 7.6 Five-year financial summary |
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| 7.7 Table of subsidiaries and associates |
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| 7.8 List of French companies indirectly controlled by Orano at December 31, 2024 |
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| 7.9 Financial glossary |
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