Urenco Annual Report 2022

Financial statements Notes to the Company Financial Statements continued For the year ended 31 December 2022 18. Related party transactions During the year, the Company entered into the following transactions with the following related party: Purchases of assets, goods and services Year ended 31/12/22 €m Year ended 31/12/21 €m ETC (i) 0.7 0.4 (i) These amounts are 100% of the sales/purchases and amounts due from/to the Enrichment Technology Company Limited. Amounts owed to related parties Year ended 31/12/22 €m Year ended 31/12/21 €m ETC (i) 53.7 55.5 (i) These amounts are 100% of the sales/purchases and amounts due from/to the Enrichment Technology Company Limited. The Company has taken advantage of the exemption in FRS 101 not to disclose transactions between wholly owned subsidiaries of the Group. Enrichment Technology Company Limited is a related party due to the Group’s 50% shareholding in the joint venture. Sales of goods and services to related parties and purchases of assets, goods and services from them were made under the Group’s normal trading terms. The amounts outstanding are unsecured and will be settled in cash. No guarantees have been given or received. Amounts owed by related parties are stated at amortised cost less provision for expected credit losses. Remuneration of key management personnel The remuneration of the Directors, who are the key management personnel of the Group, is set out below in aggregate for each of the categories specified in IAS 24 Related Party Disclosures. Further information about the remuneration of individual Directors is provided in the Remuneration report on page 74. Year ended 31/12/22 €m Year ended 31/12/21 €m Short term employee benefits 3.2 2.9 Long term employee benefits 1.4 0.8 4.6 3.7 Directors’ transactions No Director has ever had a loan from the Company or any other transaction with the Company other than remuneration for their services as a Director, as detailed in the Remuneration report on page 73. 19. Contingent liabilities The Company is party to a number of composite guarantees of borrowings by certain of its subsidiaries which at the reporting date amounted to €691.3 million (2021: €696.6 million). The Directors do not expect any liability to arise under these guarantees. 20. Events after the reporting period As of 8 March 2023, no other material structural changes or business events have occurred that might serve to alter any of the disclosures contained in the 2022 financial statements. 179 Urenco Annual report and accounts 2022 Financial statements 03