Safran ECONOMIC

Research date: 26 October 2026 Target: Safran SA Jurisdiction: France Scope: Commercial, financial, supply-chain and operational relationships with Israel and the occupied Palestinian territory.

Supply Chain & Sourcing Relationships

1.1 Direct supplier relationships

Safran SA operates primarily in aerospace propulsion, aircraft equipment, defence and space, while its published company portfolio includes Safran Aircraft Engines, Safran Electronics & Defense and associated industrial partnerships.¹

No public evidence identified of direct agricultural procurement by Safran SA from Mehadrin, Hadiklaim, Galilee Export or Agrexco successors; the reviewed group descriptions and corporate reports concern aerospace and defence rather than retail fresh-produce supply chains.^{1, 2}

1.2 Israeli aerospace maintenance supply chain

In September 2024, Aviation Week reported that Israel Aerospace Industries Ltd., through its Bedek Aviation Group Engines division, had developed quick-turn maintenance capability for the LEAP 1A aircraft engine at its Tel Aviv operation.³

IAI Aviation Group executive Shmuel Kuzi stated that Safran had requested the addition of LEAP maintenance capability; Safran Aircraft Engines participates in the LEAP programme through CFM International, its 50/50 joint venture with GE Aerospace.^{3, 4}

Act record - LEAP maintenance: Acting entity: Israel Aerospace Industries Ltd., through Bedek Aviation Group; commercial counterparties: Safran Aircraft Engines and the CFM International maintenance ecosystem; channel: aviationweek.com, quoting an IAI executive; earliest confirmed observation: September 2024; latest confirmed observation: September 2024; operational capability was reported as developing, but subsequent contract performance, payment amounts and continuation through October 2026 remain unknown.³

The September 2024 observation occurred after 19 July 2024, when the International Court of Justice issued its advisory opinion concerning Israel’s occupation of Palestinian territory.^{3, 5}

1.3 Israeli distribution and indirect sourcing

Intelics Ltd. publicly markets Safran Trusted 4D positioning, navigation and timing equipment and identifies the Safran business as a subsidiary of Safran Electronics & Defense.⁶

The distributor identifies its business location as 2 Kaufmann Street, Tel Aviv, Israel.⁶

Act record - Intelics: Acting entity: Intelics Ltd.; represented manufacturer: Safran Trusted 4D; commercial channel: inteli-cs.com; earliest independently dated observation: not established; latest observation: page available during October 2026 research; status: publicly advertised at the research date, with actual stock levels, transaction dates, end customers, ownership and contract duration unknown.⁶

No public evidence identified establishing that Intelics Ltd. is owned or controlled by Safran SA or that Intelics has supplied these specific Safran products to settlements or identified Israeli military units.⁶

1.4 Historical unmanned aircraft partnership

A report dated 16 September 2010 stated that Sagem, then part of the Safran group, had agreed with Elbit Systems Ltd. to establish an equally owned joint venture for tactical unmanned aircraft systems.⁷

The contemplated venture was to be located at Eragny and Montluçon in France, with planned establishment by 2011.⁷

Act record - proposed UAV venture: Acting parties: Sagem and Elbit Systems Ltd.; beneficiaries: the proposed joint venture and future tactical UAV customers; channel: brahmand.com reporting the companies’ announcement; earliest confirmed observation: September 2010 [pre-2020]; latest independently documented operational observation: none established; status: implementation unknown.^{7, 8}

In April 2024, Association France Palestine Solidarité independently described the proposed 2010 agreement and questioned whether the venture had subsequently operated.⁸

No public evidence identified confirming incorporation, present equity ownership, manufacturing output or active trading by the proposed entity.^{7, 8}

1.5 Seasonal procurement, importer structure and white-label goods

No public evidence identified of recurring December–April Israeli agricultural procurement, a dedicated Israeli produce importer of record, settlement-origin food distributed under a Safran brand, or agricultural white-label arrangements.^{1, 2}

Israeli satellite-communications supplier - Gilat Satellite Networks Ltd.: On 5 March 2024, Israel-based Gilat Satellite Networks announced that Safran Passenger Innovations had selected it for a multimillion-dollar in-flight connectivity programme. Gilat’s Wavestream subsidiary was contracted to develop, qualify and manufacture a new range of Ku-band power supply units (KPSUs) supporting Safran’s electronically steerable Ku-band antennas. The products were designed for line-fit qualification on Boeing and Airbus aircraft, establishing a documented commercial supply relationship between Safran Passenger Innovations and Gilat through Wavestream. The announcement does not disclose the exact contract value, delivery schedule, payments or subsequent performance, so the extent of revenue realised and the relationship’s current status remain unverified.⁹

Israeli technology supplier - Odysight.ai Inc.: On 22 May 2024, Israel-based Odysight.ai announced an inaugural purchase order from Safran Aircraft Engines for specialised micro-cameras equipped with sensors designed to withstand challenging operating environments. The announced purpose was to support experimentation, planning and development of jet engines. Odysight.ai’s subsequent SEC registration filing further identified the order as being for an engine guide vane monitoring system, while its 2024 Form 10-K listed Safran Aircraft Engines among its customers. Together, these disclosures establish a direct commercial supplier-customer relationship involving vision-based monitoring equipment for engine development. The reviewed disclosures do not specify the purchase-order value, equipment quantity, delivery completion or payments made.^{10, 11, 12}

Product Origin, Labeling & Regulatory Compliance

2.1 Product categories

Safran’s disclosed commercial activities concern aircraft propulsion, aerospace equipment, aircraft interiors, defence electronics and space technologies.^{1, 13}

The group’s business history records the creation of Safran in 2005 through the merger of SNECMA and SAGEM, followed by the development of the Safran Electronics & Defense business.¹⁴

No public evidence identified that Safran operates a conventional grocery retail business selling Israeli agricultural products under country-of-origin food labels.^{1, 14}

2.2 Settlement-origin products

The OHCHR business-enterprise database examines activities contributing to Israeli settlements, including equipment and materials supporting settlement construction, surveillance, transport and commercial exploitation of occupied territory.¹⁵

No public evidence identified within the reviewed sources linking a specified Safran product, serial-numbered shipment or distributor transaction to an identifiable West Bank, East Jerusalem or occupied Golan settlement.^{15, 16}

2.3 Country-of-origin labeling compliance

No public evidence identified of DEFRA, customs or consumer-labeling enforcement proceedings against Safran involving produce originating in Israeli settlements.^{2, 16}

No public evidence identified of a Safran corporate policy specifically addressing consumer-product country-of-origin labeling for goods manufactured in occupied Palestinian or Syrian territory.^{1, 17}

2.4 Defence products and geographic end use

On 9 September 2021, Safran announced that Safran Vectronix AG and Rafael Advanced Defense Systems Ltd. had signed a memorandum of understanding concerning the integration of Safran’s MOSKITO TI observation and location unit with Rafael’s FIRE WEAVER networked sensor-to-effector system.¹⁸

Safran described the integration as enabling tactical commanders and soldiers to share a common battlefield picture and improve the identification and engagement of targets.¹⁸

Act record - FIRE WEAVER/MOSKITO TI: Acting entities: Safran Vectronix AG and Rafael Advanced Defense Systems Ltd.; intended beneficiaries: prospective military users of the integrated targeting system; publication channel: Safran’s own website, www.safran-group.com; earliest confirmed observation: 9 September 2021; latest confirmed agreement observation: 9 September 2021; status in October 2026: implementation and continuation unknown; public audience: visitors to Safran’s corporate pressroom, where the dated announcement remained retrievable during research.¹⁸

Association France Palestine Solidarité referred to the collaboration in an April 2024 publication and asserted that the underlying Rafael FIRE WEAVER system had been acquired by the Israeli military.⁸

The 2021 Safran announcement establishes an integration agreement but does not itself identify a completed shipment of the Safran configuration, a specific operational deployment or an Israeli Ministry of Defense purchase order.¹⁸

Investment, Capital & Financial Exposure

3.1 Foreign direct investment

Safran’s published corporate portfolio identifies operating companies and joint ventures across aerospace, defence and related technologies, including CFM International and ArianeGroup.⁴

CFM International is described as a 50/50 venture between Safran Aircraft Engines and GE Aerospace, developing and marketing the CFM56 and LEAP engine families.⁴

No public evidence identified in the reviewed disclosures establishing that Safran SA has acquired a controlling stake in an Israeli-incorporated operating company.^{4, 19}

3.2 Acquired-identity review

The reviewed corporate history identifies SNECMA, SAGEM, Morpho and Safran Electronics & Defense as material stages in Safran’s formation and development.¹⁴

Safran’s February 2026 results announcement identifies recent acquisitions involving Preligens, Component Repair Technologies and Collins Aerospace flight-control and actuation activities, among other transactions.¹³

No public evidence identified that any acquired business established by these reviewed announcements constitutes a currently controlled Israeli-incorporated operating subsidiary.^{13, 14}

No public evidence identified of an Israeli subsidiary acquisition price, Israeli manufacturing workforce, Israeli revenue contribution or controlling ownership percentage attributable to such an acquisition.^{4, 13}

3.3 Research, development and innovation relationships

Safran Vectronix AG’s September 2021 agreement with Rafael Advanced Defense Systems Ltd. concerned interoperability between an existing Safran observation device and Rafael’s tactical networked targeting system.¹⁸

The record confirms technology cooperation with an Israeli defence company but does not establish a Safran-owned Israeli research laboratory, a newly incorporated R&D subsidiary or a disclosed investment amount.¹⁸

3.4 Israeli defence counterparties

The Israeli Ministry of Defense identified Rafael Advanced Defense Systems Ltd. as the principal developer and industrial contractor for the Iron Beam laser-interception system in March 2025.²⁰

In September 2025, the Ministry reported completed Iron Beam development tests involving Rafael and Elbit Systems.²¹

Act record - Rafael’s separate military procurement: Acting entity: Rafael Advanced Defense Systems Ltd.; recipient: Israeli Ministry of Defense and prospective Israeli military users; channel: mod.gov.il; confirmed observations: March–September 2025; status: active programme at those observation dates; these records do not identify Safran as a supplier to Iron Beam.^{20, 21}

The Israeli Ministry of Defense also identified Elbit Systems and Rafael among Israel’s major defence companies in its February 2025 reporting on the Aero India exhibition.²²

This establishes the defence-industrial identity of Safran’s historically documented Israeli counterparties without establishing that Safran participated in the separately described procurement programmes.^{7, 18, 22}

3.5 Financial-sector activities

Safran’s published business portfolio is industrial, with primary activities in aerospace and defence rather than banking, asset management or insurance.^{1, 4}

No public evidence identified of Safran SA acting as an underwriter or distributor of Israeli sovereign bonds, an Israel Bonds sales agent, an insurer of settlement operations or a lender to settlement-listed companies.^{1, 2}

No public evidence identified establishing a separately disclosed Safran treasury portfolio of Israeli sovereign bonds or Israel-focused investment funds.^{2, 13}

3.6 Controlling principals’ personal investments

Safran identifies Ross McInnes as Chairman and Olivier Andriès as Chief Executive Officer and director, with their professional backgrounds disclosed through corporate governance materials.^{23, 24}

No public evidence identified from the reviewed corporate biographies establishing personal or family-office controlling investments by either individual in the Israeli companies examined in this audit.^{23, 24}

Operational Presence & Market Activity

4.1 Israeli commercial distribution

Intelics Ltd., an independent business advertising Safran Trusted 4D products, publishes a Tel Aviv business address and information about Safran positioning, navigation and timing technologies.⁶

Act record - Israeli commercial representation: Acting entity: Intelics Ltd.; represented supplier: Safran Trusted 4D; beneficiary: prospective Israeli customers; publication channel: inteli-cs.com; earliest dated transaction: unknown; latest public observation: October 2026; status: advertised representation at research date, with contractual continuation and sales volumes unconfirmed.⁶

No public evidence identified that the Tel Aviv location is a Safran-owned office or that Intelics employees are directly employed by Safran SA.⁶

4.2 Aerospace service relationships

Israel Aerospace Industries was reported in September 2024 to be developing maintenance capacity for LEAP aircraft engines through its Bedek operation in Tel Aviv, following a request attributed to Safran.³

The September 2024 report describes a commercial maintenance capability relating to LEAP engines rather than an Israeli factory owned by Safran.^{3, 4}

4.3 Defence market activity

The September 2021 Rafael–Safran memorandum provides direct evidence of commercial efforts involving Israeli defence technology.¹⁸

The proposed Sagem–Elbit joint venture reported in September 2010 provides historical evidence of commercial cooperation discussions with another Israeli defence manufacturer.⁷

In April 2024, AFPS reported allegations of Safran components associated with the Arrow 3 missile-defence system and referred to an alleged 2022 Israeli order for telemetry-related equipment.⁸

Act record - reported telemetry order: Alleged acting supplier: Safran Data Systems; reported recipient: Israeli government; publication channel: france-palestine.org; earliest alleged order observation: 2022; latest documented repetition: April 2024; present contractual status, monetary value, precise beneficiary, delivery completion and original procurement documentation remain unverified by this audit.⁸

The AFPS account establishes that these allegations were publicly made; the reviewed material does not independently confirm the original purchase documents or the precise Arrow 3 component supply chain.⁸

4.4 Workforce, taxation and facilities

Safran reported group revenue of €31.3 billion for 2025 and a worldwide workforce exceeding 110,000 employees in its February 2026 corporate announcement.²⁵

No public evidence identified establishing the number of employees directly employed by Safran within Israel or identifying an Israeli corporate income-tax registration, tax payment or preferred-technology-enterprise designation held by Safran SA.^{13, 25}

No public evidence identified establishing a Safran-owned manufacturing plant, permanent research centre, logistics warehouse or real-estate holding inside an Israeli settlement.^{4, 15}

4.5 Market characterization

Safran’s 2025 financial announcement discusses its activities by industrial division and broad geographic market groupings, including the Middle East, Asia and the Americas.¹³

No public evidence identified within the reviewed announcements of an Israel-specific revenue breakdown or a designation of Israel as Safran’s principal international growth market.^{13, 25}

Rafael–Safran FIRE WEAVER/MOSKITO TI integration completed by January 2022: On 28 January 2022, Janes reported from the International Armoured Vehicles 2022 conference in London that integration of Rafael’s FIRE WEAVER system with Safran’s MOSKITO TI target locator had been completed and demonstrated to an undisclosed country. The report drew on information obtained during the conference, including statements from a Rafael spokesperson. This provides contemporaneous evidence of completed technical integration and an external demonstration following the September 2021 memorandum of understanding. It corrects the existing audit’s statements under sections 2.4, 3.3 and 4.3 that implementation remained unconfirmed or unknown. The evidence establishes integration and demonstration, but does not establish delivery to a paying customer, operational deployment of the combined configuration or realised sales revenue.²⁶

Subsequent commercial agreement signed on 14 June 2022: National Defense magazine’s contemporaneous Eurosatory 2022 reporting confirms that Safran Vectronix and Rafael signed an official sales and marketing collaboration agreement on 14 June 2022 in Paris. Both companies announced plans to market the FIRE WEAVER/MOSKITO TI combination, with Safran Vice President of Sales and Marketing Patrick Drach explaining that Rafael would benefit from Safran’s established customer relationships. Drach also described plans to extend FIRE WEAVER integration to existing and future target locators. Rafael executive Shmulik Olanski confirmed that FIRE WEAVER was already used by the Israel Defense Forces independently of the MOSKITO TI agreement. This corrects the existing section 2.4 act record identifying 9 September 2021 as the latest confirmed agreement observation: the latest independently documented agreement by June 2022 was the signed marketing collaboration of 14 June 2022. It also strengthens section 4.3’s evidence of continuing commercial cooperation. Neither the marketing agreement nor the reported Israeli military use of FIRE WEAVER independently establishes an Israeli military purchase, delivery or operational use of the combined Safran–Rafael configuration.²⁷

Corporate Structure & Foundational Ties

5.1 Formation and domicile

Safran was formed in France in 2005 by the merger of SNECMA and SAGEM, creating an aerospace, defence and security group.¹⁴

Safran is headquartered in Paris and listed on Euronext Paris, with the company describing its operations as an international aerospace and defence business.^{25, 28}

No public evidence identified that Safran SA was founded in Israel, maintains its principal headquarters in Israel or is an Israeli tax-resident company.^{14, 25}

5.2 Shareholder structure

Safran’s 2025 integrated report records the following capital distribution at 31 December 2025: French State 11.72%, employees 5.55%, treasury shares 0.34% and public shareholders 82.39%.¹⁹

Named-entity record - French Republic: Relationship: disclosed shareholder owning 11.72% at 31 December 2025; investigation: ownership, governmental control and Israeli investment nexus; finding: material French public-sector equity ownership, with no direct Israeli beneficial-control relationship established by the reviewed shareholder document.¹⁹

Named-entity record - public shareholders: Relationship: 82.39% aggregate free-float ownership at 31 December 2025; investigation: shareholder concentration and possible Israeli beneficial control; finding: the aggregate disclosure does not identify a controlling Israeli shareholder.¹⁹

Named-entity record - employee shareholders: Relationship: 5.55% aggregate holding at 31 December 2025; investigation: employee ownership and control; finding: group employee holdings are disclosed without an identified Israeli controlling principal.¹⁹

Safran’s ownership disclosures identify the French Republic as a shareholder, while a Financial Times shareholder dataset independently lists institutional holders, including TCI Fund Management and BlackRock, with reported holdings based on different filing dates.^{19, 29}

No public evidence identified establishing that the named institutional investors control Safran on behalf of the Israeli state or that their independently managed investments constitute Safran corporate investments.^{19, 29}

5.3 Chairman and chief executive

Named-entity record - Ross McInnes: Relationship: Chairman of Safran’s Board; searches addressed prior defence-industry appointments, state relationships and Israel-linked investments; Safran and ENGIE biographies establish previous executive service at Thomson-CSF, now Thales, and an ENGIE directorship; no specific Israeli investment or settlement relationship was established by those biographies.^{23, 30}

Named-entity record - Olivier Andriès: Relationship: Safran CEO and director since January 2021; searches addressed previous aerospace and defence positions, directorships and Israeli investments; his Safran biography identifies earlier leadership responsibilities at Airbus, Safran Aircraft Engines and Safran’s defence business; no personal Israeli investment was identified in that disclosure.²⁴

5.4 State-appointed governance

Safran’s governance disclosures identify Guillemette Kreis as a French state representative and Alexandre Lahousse as a director proposed by the French state.²⁸

Named-entity record - Guillemette Kreis: Relationship: French state representative on Safran’s Board; search focus: state appointment, Israeli defence relationships and investments; finding: French government representation confirmed, with no individual Israeli economic relationship established by the reviewed governance page.²⁸

Named-entity record - Alexandre Lahousse: Relationship: director proposed by the French state; search focus: state appointment, defence-industry interests and Israeli investments; finding: French government nomination confirmed, with no individual Israeli investment established by the reviewed governance page.²⁸

5.5 Other identified directors

Named-entity record - Valérie Baudson: Relationship: independent director and chair of Safran’s Appointments and Compensation Committee; search focus: institutional investments and Israeli corporate interests; no individual Israeli relationship established by the reviewed governance disclosures.²⁸

Named-entity record - Fabrice Brégier: Relationship: independent director; search focus: aerospace-industry affiliations and Israeli investments; no individual Israeli relationship established by the reviewed governance disclosures.²⁸

Named-entity record - Anne Bouverot: Relationship: independent director; search focus: technology investments and Israeli corporate affiliations; the February 2026 governance announcement describes her nomination, while the current governance page lists her appointment; no relevant Israeli controlling investment established.^{28, 31}

Named-entity record - Robert Peugeot: Relationship: independent director; search focus: family investment vehicles and Israeli economic exposure; no specifically attributable Israeli investment established by the reviewed governance disclosures.^{28, 31}

Named-entity record - Laurent Guillot: Relationship: independent director and Audit and Risk Committee chair; search focus: corporate investments and Israeli operations; no relevant Israeli relationship established.²⁸

Named-entity record - Patrick Pélata: Relationship: lead independent director; search focus: technology investments and Israeli companies; no relevant Israeli controlling investment established.^{28, 31}

Named-entity record - Fabienne Lecorvaisier: Relationship: independent director; search focus: corporate and investment affiliations; no relevant Israeli relationship established.²⁸

Named-entity record - Daniela Schwarzer: Relationship: independent director; search focus: institutional and governmental affiliations; no relevant Israeli economic relationship established.²⁸

Named-entity record - Anne Aubert: Relationship: employee-shareholder director; search focus: company representation and Israeli economic relationships; no relevant Israeli relationship established.²⁸

Named-entity record - Pascale Dosda: Relationship: employee-shareholder director; search focus: group ownership and Israeli economic relationships; no relevant Israeli relationship established.²⁸

Named-entity record - Christèle Debarenne-Fievet: Relationship: employee director; search focus: employee governance and Israeli economic relationships; no relevant Israeli relationship established.²⁸

Named-entity record - Ivan Hardouin: Relationship: employee director; search focus: governance and Israeli economic relationships; no relevant Israeli relationship established.²⁸

5.6 Material operating entities

Named-entity record - Safran Electronics & Defense: Relationship: Safran operating subsidiary; search focus: Israeli defence procurement, historical SAGEM operations, Rafael cooperation and product distribution; finding: the business includes the predecessor activities of SAGEM, while specific group companies have documented commercial relationships with Israeli counterparties.^{14, 18}

Named-entity record - Safran Vectronix AG: Relationship: integrated Safran defence business; search focus: Rafael procurement, Israeli military deployment and ownership; finding: named signatory of the September 2021 FIRE WEAVER/MOSKITO TI memorandum.¹⁸

Named-entity record - Safran Data Systems: Relationship: integrated Safran business; search focus: Israeli telemetry procurement and missile-system supply; finding: a reported 2022 government order is referenced by AFPS, but the underlying order was not independently verified.⁸

Named-entity record - Safran Trusted 4D: Relationship: Safran Electronics & Defense subsidiary; search focus: Israeli distribution, local offices and military customers; finding: represented on the Intelics Ltd. Israeli commercial website.⁶

Named-entity record - Safran Aircraft Engines: Relationship: integrated Safran propulsion company; search focus: Israeli airlines, engine maintenance, IAI and defence aerospace; finding: participant in CFM International and linked to IAI’s reported LEAP maintenance capability request.^{3, 4}

Named-entity record - CFM International: Relationship: 50/50 Safran Aircraft Engines–GE Aerospace joint venture; search focus: Israeli maintenance relationships, engine services and equity investment; finding: LEAP and CFM56 engine activities identified, with Israeli IAI maintenance activity reported independently.^{3, 4}

Named-entity record - GE Aerospace: Relationship: Safran’s equal partner in CFM International; search focus: Israeli maintenance and engine services; finding: ownership of the CFM joint venture confirmed, but no separate GE-to-Israeli-settlement transaction was established within this Safran audit.⁴

Named-entity record - ArianeGroup: Relationship: 50/50 Airbus–Safran joint venture; search focus: Israel-linked launch operations and investment; finding: joint-venture ownership confirmed, with no Israel-specific commercial transaction established by the reviewed company description.⁴

Named-entity record - Sagem Défense Sécurité: Relationship: predecessor Safran business; search focus: Elbit Systems partnership and unmanned aircraft development; finding: historical proposal for an equal Sagem–Elbit joint venture in September 2010.^{7, 14}

Named-entity record - Intelics Ltd.: Relationship: external Israeli product distributor; search focus: Safran products, Israeli military procurement and settlement locations; finding: Tel Aviv representation of Safran Trusted 4D confirmed; ownership and ultimate government customers unverified.⁶

Named-entity record - Rafael Advanced Defense Systems Ltd.: Relationship: Israeli defence technology counterparty; search focus: Safran Vectronix cooperation and military procurement; finding: September 2021 memorandum with Safran and independently documented Israeli military procurement activity in 2025.^{18, 20}

Named-entity record - Elbit Systems Ltd.: Relationship: historical proposed joint-venture counterparty; search focus: Sagem tactical UAV agreement and current Israeli defence procurement; finding: 2010 proposed joint venture and separate 2025 Israeli Ministry of Defense industrial relationship documented; no completed Safran-controlled venture established.^{7, 21}

Named-entity record - Israel Aerospace Industries Ltd.: Relationship: Israeli aerospace maintenance counterparty; search focus: LEAP maintenance services and Safran requests; finding: Tel Aviv LEAP capability reported in September 2024, following a request attributed to Safran.³

Named-entity record - Bedek Aviation Group: Relationship: IAI operating division; search focus: engine maintenance and Safran commercial contacts; finding: Tel Aviv engine-maintenance operation and LEAP capability documented in September 2024.³

5.7 Israeli-Nexus Floor factual checks

Founded in Israel: no public evidence identified; Safran documents its formation in France in 2005.¹⁴

Israeli headquarters: no public evidence identified; the documented group headquarters are in Paris.²⁵

Israeli tax residency or PTE status: no public evidence identified in the reviewed corporate and financial disclosures.^{2, 25}

Israeli beneficial ownership or control: no public evidence identified; the disclosed significant state holding belongs to the French Republic.¹⁹

Acquired Israeli operating subsidiaries: no public evidence identified establishing a controlling acquisition of an Israeli-incorporated operating company.^{4, 13}

Israeli state governance mechanisms: no public evidence identified of Israeli golden shares, Israeli government-appointed Safran directors or Israeli charter restrictions; the documented government-linked positions are French.^{19, 28}

French State board representation as at 26 October 2026 - Guillemette Kreis: Guillemette Kreis was the French State’s representative on Safran’s Board of Directors on 26 October 2026. A ministerial order dated 16 September 2026, published in the Journal officiel on 30 September 2026 under reference JORFTEXT000054914106, appointed Kreis explicitly in replacement of Chloé Raison. The official appointment is independently indexed in the publicly accessible Journal officiel records reproduced by JORFSearch. This confirms the existing audit’s section 5.4 statement identifying Kreis as the French State representative and establishes the effective succession sequence underlying that statement. Alexandre Lahousse’s separately identified position as a director appointed on the State’s proposal is a distinct governance category and is unaffected by this replacement.³²

Chloé Raison - appointment and replacement dates: A ministerial order dated 12 June 2026, published on 24 June 2026 under reference JORFTEXT000054301299, appointed Chloé Raison as French State representative on Safran’s Board, replacing Céline Fornaro. Safran’s own published corporate legal announcement, reproduced in its company record, confirms that the Board acknowledged Fornaro’s resignation effective 1 June 2026 and Raison’s appointment effective 12 June 2026. A subsequent ministerial order dated 16 September 2026 appointed Guillemette Kreis in Raison’s place and was published on 30 September 2026. Accordingly, the documented succession was Céline Fornaro → Chloé Raison (12 June 2026) → Guillemette Kreis (16 September 2026). This clarifies the existing section 5.4 governance record: its identification of Kreis is correct for 26 October 2026, while Raison’s intervening appointment and replacement provide additional historical context. The ministerial replacement establishes the end of Raison’s Safran State-representative appointment; it does not establish a departure from French government employment or any separate personal resignation date.^{32, 33, 34}

Profit Repatriation & Economic Contribution

6.1 Group revenue

Safran reported revenue of approximately €31.3 billion for financial year 2025.²⁵

Its financial reporting describes activity across aerospace propulsion, equipment and defence, including international aviation and aftermarket operations.¹³

6.2 Revenue attributable to Israel

No public evidence identified of a separately disclosed Israel-specific revenue figure, gross margin, operating profit or export-sales total in the reviewed group financial materials.^{2, 13}

The LEAP maintenance relationship, Intelics distributor listing and Rafael memorandum establish identifiable commercial channels, but none provides a verified Safran revenue amount attributable to Israel.^{3, 6, 18}

6.3 Profit repatriation

Safran SA is a French-domiciled listed company with French state and public-market share ownership.^{19, 25}

No public evidence identified of a controlling Israeli-domiciled parent receiving Safran’s global consolidated profits.^{19, 25}

No public evidence identified of separately disclosed dividends or profit remittances from an Israeli operating subsidiary to Safran SA.^{2, 13}

6.4 Israeli industrial ecosystem

Israel Aerospace Industries’ development of LEAP 1A maintenance capability expanded domestic Israeli servicing capacity for an aircraft engine family produced by CFM International.^{3, 4}

The published September 2024 report identified an Israeli aerospace industry participant, a named Safran connection and the Tel Aviv maintenance location.³

Rafael Advanced Defense Systems was identified by the Israeli Ministry of Defense in 2025 as a major contractor in domestic military technology development and procurement.^{20, 21}

Safran Vectronix’s earlier FIRE WEAVER integration agreement establishes a documented relationship with Rafael but does not quantify Safran’s contribution to Rafael’s Israeli revenues.¹⁸

6.5 Relationships observed after July and November 2024

The September 2024 IAI maintenance evidence postdates the 19 July 2024 ICJ advisory opinion.^{3, 5}

Intelics’ Safran product representation was publicly visible during October 2026 research, although its earliest transaction date and actual post-November 2024 sales cannot be established from the listing.⁶

The 2021 Rafael memorandum predates both July and November 2024, and the reviewed records do not establish whether its contemplated integration continued after those dates.¹⁸

The 2010 Sagem–Elbit proposal predates both dates, and subsequent operational status remains unverified.^{7, 8}

6.6 Settlement-specific economic contribution

OHCHR’s 2023 update retained 97 enterprises assessed against defined settlement-related business activities, including infrastructure, surveillance, finance and commercial exploitation of occupied territory.¹⁵

A September 2025 Human Rights Council transcript describes further assessment of businesses under the settlement database process.¹⁶

No public evidence identified in the reviewed materials demonstrating that Safran directly generated revenue from an identified settlement enterprise, settlement-based facility, settlement construction contract or settlement-specific distribution agreement.^{6, 15, 16}

No public evidence identified quantifying taxes, wages or procurement expenditure paid by Safran within the occupied Palestinian territory or occupied Syrian Golan.^{2, 15}