Areva - Reference Document 2016

04

RISK FACTORS

RISK MANAGEMENT AND COVERAGE

11 11 13

4.1.

4.5.5. Unscheduled work in the production of products and services sold

29 30

4.1.1. Risk management

4.5.6. Supplier concentration in the procurement chain 4.5.7. Risks related to anomalies detected in the framework of quality audits of nuclear component manufacturing

4.1.2. Risk coverage and insurance

RISKS RELATED TO THE RESTRUCTURING PLAN 14

4.2.

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4.2.1. Risks related to implementation of the restructuring plan

4.5.8. Risks related to implementation of the performance plan

14

30

4.2.2. Risks related to the non-execution or delay of the AREVA and NewCo capital increases 4.2.3. Risks related to the non-execution or delay of the sale of AREVA NP’s operations 4.2.4. Risks related to third-party agreements for the change of NewCo control

14

RISK RELATED TO MAJOR PROJECTS

30 31 31 31 31 32 32 33

4.6.

4.6.1. New reactor construction contracts

15

4.6.2. AREVA’s industrial projects

15

LIQUIDITY AND MARKET RISKS

4.7.

LEGAL RISKS

16 16 19 20 21 22 27 28

4.3.

4.7.1. Liquidity risk

4.7.2. Foreign exchange risk

4.3.1. Regulatory risk

4.7.3. Interest rate risk

4.3.2. Contractual and commercial risks 4.3.3. Risks and disputes involving AREVA

4.7.4. Risk on shares and other financial instruments 4.7.5. Risks associated with uranium, enrichment and conversion

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INDUSTRIAL AND ENVIRONMENTAL RISKS

4.4.

4.7.6. Risk on other commodities

4.4.1. Nuclear risks

4.7.7. Counterparty risk related to the use of derivatives and to the investment of cash

4.4.2. Chemical risk management 4.4.3. Other environmental risk

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OTHER RISK

34 34 35 36 36

4.8.

OPERATIONAL RISKS

28

4.5.

4.8.1. Political and economic conditions 4.8.2. Risks related to the group’s structure 4.8.3. Industrial risks related to climate change

4.5.1. Risk of interruption in the supply chain for products or services 4.5.2. Risk of default by suppliers, subcontractors, partners and customers 4.5.3. Risk associated with dependency on the group’s customers 4.5.4. Risk related to the information system

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4.8.4. Human resources risk

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2016 AREVA REFERENCE DOCUMENT