Urenco Annual Report 2022

Net zero Target state where human generated carbon emissions are balanced out by permanent removals from the atmosphere, where no net gain of carbon dioxide emissions occurs from human activities. NRC The Nuclear Regulatory Commission is an independent agency of the US government established under the Energy Reorganization Act of 1974 to ensure adequate protection of public health and safety, common defence and security, and the environment in the use of nuclear materials in the USA. Orano (previously Areva) The French energy group that holds 50 % of the shares in ETC. Order book Includes both contracted and substantially agreed business estimated on the basis of ‘requirements’ and ‘fixed commitment’ contracts. Other operating and administrative expenses Expenses comprising Raw costs of materials and consumables used, Employee costs, Restructuring charges and Other expenses, but excluding the Net costs of nuclear provisions. Parent Company Urenco Limited. Revenue Revenue from the sale of goods and services and net fair value gains/ losses on commodity contracts. Scope 1 Direct GHG emissions originating from sources owned or controlled by the company. Includes combustion of fuels (petrol, diesel, propane, fuel oils, natural gas) and fugitive emissions, e.g. loss of refrigerants. Scope 2 Indirect GHG emissions from the generation of purchased electricity, heat or steam. Scope 3 Other indirect GHG emissions originating from sources not owned or operated by the company. Covers areas such as the supply chain, business travel and employee commuting. SWU Separative Work Unit. The standard measure of the effort required to increase the concentration of the fissionable U 235 isotope. Tails or DU Depleted uranium hexafluoride (UF 6 ) that contains a lower concentration than the natural concentration (0.711 % ) of the U 235 isotope. Tails Management Facility (TMF) The facility constructed and operated by Urenco ChemPlants Limited that manages the deconversion of tails into stable uranium oxide (U 3 O 8 ). Now operational at Urenco’s site in Capenhurst, UK, it consists of a number of associated storage, maintenance and residue processing facilities to support Urenco’s long term strategy for the management of tails. Treaty of Almelo In the early 1970s the German, Dutch and British governments signed the Treaty of Almelo, an agreement under which the three partners would jointly develop the centrifuge process of uranium enrichment. Treaty of Cardiff In July 2005 the German, Dutch, British and French governments signed the Treaty of Cardiff, an agreement between the four governments to supervise the collaboration between Urenco and Orano in their joint venture, ETC. Treaty of Washington In July 1992 the German, Dutch, British and United States of America governments signed the Treaty of Washington, an agreement which was required in order to permit the establishment of the National Enrichment Facility. tSW Tonnes of Separative Work. tSW/a Tonnes of Separative Work per annum. UEC Urenco Enrichment Company Limited. UF 6 Uranium Hexaflouride. UK Corporate Governance Code The 2018 UK Corporate Governance code which Urenco makes best efforts to apply for a company without listed shares. UK GAAP The Generally Accepted Accounting Practice in the UK. Uranic material Natural uranium, enriched uranium and depleted uranium. Working capital Inventories, trade and other receivables, less the current portion of trade and other payables. Glossary continued 181 Urenco Annual report and accounts 2022 Financial statements 03