Rock Chip Samples Affirm Gold Mineralisation at Shaib Marqan

“Our disciplined technique aligns our advertising and marketing, operational, and financially targeted choices. From a advertising and marketing perspective, we’ve contracts in each our uranium and gas providers segments which have deliveries spanning greater than a decade. Nevertheless, in a market the place we’re seeing sustained, constructive momentum for nuclear power, we’re persevering with to be selective in committing our unencumbered, tier-one, in-ground uranium stock and UF ₆ conversion capability underneath long-term contracts, to seize higher upside for a few years to come back.

“The advertising and marketing ingredient of our technique guides our operational choices to make sure our provide aligns with our commitments, so we steadiness our manufacturing charges, stock place, long-term purchases, product loans, and near-term market purchases with a purpose to ship full-cycle worth. This previous quarter was a great instance of that prudent administration of our provide sources, with our 2024 uranium manufacturing outlook rising from 22.4 million kilos (our share) of uranium, to as much as 23.1 million kilos (our share) of uranium, due to robust manufacturing from McArthur River/Key Lake. The upper manufacturing degree for 2024 is absolutely dedicated inside our contract portfolio and permits us to rebalance our different provide sources, together with a partial offset of the rise in Saskatchewan by decrease manufacturing and purchases from JV Inkai, the place we now count on manufacturing of seven.7 million kilos (100% foundation) of uranium, down about 600,000 kilos of uranium from final yr as a result of ongoing acid provide challenges in Kazakhstan.

“The advertising and marketing and operational choices set the stage for the monetary ingredient of our technique, underneath which we count on robust money circulate technology to underpin our conservative capital allocation priorities. These priorities embody a concentrate on debt administration, as is obvious with the prudent refinancing actions we’ve undertaken in 2024, and the prepayment of a big portion of the time period mortgage we utilized to buy Westinghouse.

“We’re persevering with to see a constructive shift in authorities, business and public assist for nuclear power, additional supported by current bulletins between utilities, reactor builders, and the commercial power customers, who are actually extending monetary assist to make sure future entry to wash, dependable and scalable nuclear energy. Cameco, with our property and investments throughout the gas and reactor life cycles, is uniquely positioned to profit from these tailwinds as a accountable, business provider with a number of long-lived, tier-one property in dependable jurisdictions, confirmed working expertise, and a powerful steadiness sheet to execute our technique. In a market the place we’re seeing sustained, constructive momentum for nuclear power, we imagine our disciplined technique will permit us to attain our imaginative and prescient of ‘energizing a clean-air world’ in a way that displays our values, together with a dedication to deal with the dangers and alternatives that we imagine will make our enterprise sustainable over the long run.”

• Dividend: Our board of administrators declared a 2024 annual dividend of $0.16 per widespread share, payable on December 13, 2024, to shareholders of file on November 27, 2024. The choice to declare an annual dividend is reviewed usually by our board in context of our money circulate, monetary place, technique and different related components, together with acceptable alignment with the cyclical nature of our earnings. To acknowledge the return to our tier-one manufacturing fee, and consistent with the ideas of our capital allocation framework, we’ve beneficial to our board of administrators a dividend progress plan for consideration. Based mostly on our plan, we count on an annual enhance of no less than $0.04 per widespread share over the fiscal durations 2024 via 2026, to attain a doubling of the 2023 dividend from $0.12 per widespread share, to $0.24 per widespread share. In 2022, the board elevated the dividend by 50% to replicate the anticipated enchancment in our monetary efficiency as we started the transition to our tier-one run fee.
• Monetary outcomes impacted by buy accounting: Third quarter outcomes replicate regular quarterly variations in gross sales volumes, in addition to delayed gross sales for Joint Enterprise Inkai (JV Inkai) resulting from continued transportation challenges, and the continuing influence of buy accounting for Westinghouse. Internet earnings had been $7 million, adjusted web losses had been $3 million, and adjusted EBITDA was $308 million. In the course of the first 9 months of the yr, web earnings of $36 million and adjusted web earnings of $115 million had been decrease, whereas adjusted EBITDA of $1.0 billion was greater than in 2023. Adjusted web earnings and adjusted EBITDA are non-IFRS measures, see under.
• Robust 2024 monetary outlook: We proceed to count on robust money circulate technology. Because of the continued strengthening of the US greenback, we’ve up to date our trade fee assumption to replicate the typical fee year-to-date in 2024 of $1.00 (US) for $1.35 (Cdn) (beforehand $1.00 (US) for $1.30 (Cdn)). Because of this, our anticipated uranium common realized value elevated to $77.80 per pound (beforehand $74.70 per pound), driving up a number of monetary outlook metrics, together with estimated consolidated income for the yr, which is now anticipated to be about $3.01 billion to $3.16 billion (beforehand $2.85 billion to $3.0 billion), and our outlook for our share of Westinghouse’s 2024 adjusted EBITDA, which is now anticipated to be between $460 million and $530 million (beforehand $445 million to $510 million). See Outlook for 2024 in our third quarter MD&A for extra data. Adjusted EBITDA attributable to Westinghouse is a non-IFRS measure, see under.
• Robust uranium phase efficiency: In our uranium phase, manufacturing volumes for the third quarter and for the primary 9 months of the yr had been robust. Larger revenues and gross revenue in comparison with final yr had been primarily pushed by greater gross sales quantity and better Canadian greenback common realized value. Deliveries of seven.3 million kilos in the course of the quarter had been greater than the identical interval in 2023, whereas deliveries of 20.8 million kilos year-to-date had been barely decrease than the identical interval final yr resulting from regular quarterly variations, though it remained consistent with the supply sample disclosed in our annual MD&A. Our annual expectation for uranium deliveries of between 32 million and 34 million kilos stays unchanged. See Uranium in our third quarter MD&A for extra data.
• Elevated 2024 uranium manufacturing outlook: We up to date our 2024 manufacturing outlook to be as much as 37.0 million kilos (as much as 23.1 million kilos our share) of uranium, to advance our technique in line with the constructive market momentum and to fulfill our commitments underneath our long-term contracts. The upper deliberate annual manufacturing degree is as a result of constant run fee on the Key Lake mill, which we now count on to provide 19 million kilos (100% foundation) of uranium in 2024 (beforehand 18 million kilos of uranium), partially offset by decrease anticipated manufacturing and purchases from JV Inkai. Anticipated market and dedicated purchases for 2024 have been realigned to account for the elevated uncertainty on the timing of receipt of our remaining share of 2024 manufacturing from JV Inkai. We have now both taken supply of, or have commitments for, the vast majority of our anticipated 2024 market purchases, however might search for extra alternatives so as to add to our stock. See Outlook   for 2024 in our third quarter MD&A for extra data.
• Inkai manufacturing decrease than beforehand anticipated: At JV Inkai, manufacturing for the third quarter was much like final yr, however decrease for the primary 9 months of this yr in comparison with the identical interval in 2023, resulting from variations within the annual mine plan, a shift within the acidification schedule for brand spanking new wellfields, and unstable acid provide all year long. Most annual anticipated manufacturing is now estimated to be roughly 7.7 million kilos (100% foundation) of uranium, because the earlier goal of 8.3 million kilos of uranium was contingent upon receipt of enough volumes of sulfuric acid in accordance with a particular schedule and is now deemed unachievable. The primary cargo containing roughly 2.3 million kilos of our share of Inkai’s 2024 manufacturing has arrived on the Canadian port and is anticipated to reach on the Blind River refinery earlier than the top of 2024. The timing for the cargo of our remaining share of 2024 manufacturing is unsure, and our allocation of this yr’s deliberate manufacturing from JV Inkai stays underneath dialogue. The timing of deliveries from JV Inkai impacts our share of earnings from equity-accounted investee and the timing of receipt of our share of dividends. An up to date NI 43-101 technical report for the Inkai mine is being finalized and is anticipated to be filed underneath Cameco’s profile on SEDAR+ inside 45 days of this launch. Adjustments to the mineral reserves, manufacturing profile, prices, sensitivities, environmental and regulatory issues, and different scientific and technical data will likely be up to date within the related sections of the report.
• Strong adjusted EBITDA from Westinghouse: Whereas Westinghouse reported a web lack of $57 million (our share), for the third quarter in comparison with $47 million (our share) within the second quarter, adjusted EBITDA was $122 million, in comparison with $121 million within the second quarter. Attributable to regular variability within the timing of its buyer necessities, and supply and outage schedules, we count on to see stronger efficiency from the Westinghouse phase within the fourth quarter, with greater anticipated money flows. Buy accounting, which required the revaluation of Westinghouse’s stock and different property on the time of acquisition, and the expensing of sure non-operating acquisition-related transition prices continues to influence quarterly earnings and our 2024 earnings outlook. See Outlook   for 2024 and Our earnings from Westinghouse in our third quarter MD&A for extra data.
• Selective long-term contracting, sustaining publicity to greater costs: As of September 30, 2024, we had commitments requiring supply of a median of about 29 million kilos per yr from 2024 via 2028. We even have contracts in our uranium and gas providers segments that span greater than a decade, and in our uranium phase, a lot of these contracts profit from market-related pricing mechanisms. As well as, we’ve a big and rising pipeline of enterprise underneath dialogue each on- and off-market, which we count on will assist additional construct our long-term contract portfolio.
• Sustaining monetary self-discipline and balanced liquidity to execute on technique:
  • Robust steadiness sheet: As of September 30, 2024, we had $197 million in money and money equivalents and $1.3 billion in complete debt, demonstrating our capability to take care of liquidity whereas prioritizing reimbursement of our time period mortgage debt. As well as, we’ve a $1.0 billion undrawn credit score facility, which matures October 1, 2028. We proceed to count on robust money circulate technology in 2024.
  • Centered debt discount : Because of our risk-managed monetary self-discipline, and powerful money place, within the third quarter we continued to prioritize the discount of the floating-rate time period mortgage used to finance the Westinghouse acquisition, repaying one other $100 million (US) of the remaining $300 million (US) principal excellent. We plan to proceed to prioritize reimbursement of the remaining $200 million (US) excellent principal on the time period mortgage whereas balancing our liquidity and money place.
  • Sustaining monetary flexibility : We plan to file a brand new base shelf prospectus within the fourth quarter as the present prospectus expired in October.
• Adjustments to the chief crew: Efficient October 7, 2024, David Doerksen was appointed senior vice-president and chief advertising and marketing officer, overseeing the worldwide advertising and marketing crew within the growth and execution of Cameco’s advertising and marketing technique, and Lisa Aitken was appointed vice-president, advertising and marketing.

Consolidated monetary outcomes

The monetary data offered for the three months and 9 months ended September 30, 2023, and September 30, 2024, is unaudited.

Chosen phase highlights

The desk under exhibits the prices of produced and bought uranium incurred within the reporting durations (see non-IFRS measures under). These prices don’t embody care and upkeep prices, promoting prices corresponding to royalties, transportation and commissions, nor do they replicate the influence of opening inventories on our reported value of gross sales.

Non-IFRS measures

The non-IFRS measures referenced on this doc are supplemental measures, that are used as indicators of our monetary efficiency. Administration believes that these non-IFRS measures present helpful supplemental data to buyers, securities analysts, lenders and different events in assessing our operational efficiency and our capability to generate money flows to fulfill our money necessities. These measures usually are not acknowledged measures underneath IFRS, should not have standardized meanings, and are subsequently might not be akin to equally titled measures offered by different firms. Accordingly, these measures shouldn’t be thought-about in isolation or as an alternative to the monetary data reported underneath IFRS. We aren’t in a position to reconcile our forward-looking non-IFRS steerage as a result of we can’t predict the timing and quantities of discrete gadgets, which might considerably influence our IFRS outcomes.

The next are the non-IFRS measures used on this doc.

ADJUSTED NET EARNINGS

Adjusted web earnings is our web earnings attributable to fairness holders, adjusted for non-operating or non-cash gadgets corresponding to features and losses on derivatives and changes to reclamation provisions flowing via different working bills, that we imagine don’t replicate the underlying monetary efficiency for the reporting interval. Different gadgets might also be adjusted every now and then. We alter this measure for sure of the gadgets that our equity-accounted investees make in arriving at different non-IFRS measures. Adjusted web earnings is among the targets that we measure to kind the idea for a portion of annual worker and government compensation (see Measuring our outcomes in our 2023 annual MD&A).

In calculating ANE we alter for derivatives. We don’t use hedge accounting underneath IFRS and, subsequently, we’re required to report features and losses on all hedging exercise, each for contracts that shut within the interval and people who stay excellent on the finish of the interval. For the contracts that stay excellent, we should deal with them as if they had been settled on the finish of the reporting interval (mark-to-market). Nevertheless, we don’t imagine the features and losses that we’re required to report underneath IFRS appropriately replicate the intent of our hedging actions, so we make changes in calculating our ANE to raised replicate the influence of our hedging program within the relevant reporting interval. See Overseas trade in our 2023 annual MD&A for extra data.

We additionally alter for modifications to our reclamation provisions that circulate straight via earnings. Each quarter we’re required to replace the reclamation provisions for all operations based mostly on new money circulate estimates, low cost and inflation charges. This usually leads to an adjustment to an asset retirement obligation asset along with the availability steadiness. When the property of an operation have been written off resulting from an impairment, as is the case with our Rabbit Lake and US ISR operations, the adjustment is recorded on to the assertion of earnings as “different working expense (revenue)”. See be aware 10 of our interim monetary statements for extra data. This quantity has been excluded from our ANE measure.

On account of the change in possession of Westinghouse when it was acquired by Cameco and Brookfield, Westinghouse’s inventories on the acquisition date had been revalued based mostly available on the market value at that date. As these portions are bought, Westinghouse’s value of services bought replicate these market values, no matter their historic prices. Our share of those prices is included in earnings from equity-accounted investees and recorded in value of services bought within the investee data (see be aware 7 to the monetary statements). Since this expense is non-cash, exterior of the conventional course of enterprise and solely occurred as a result of change in possession, we’ve excluded our share from our ANE measure.

Westinghouse has additionally expensed some non-operating acquisition-related transition prices that the buying events agreed to pay for, which resulted in a discount within the buy value paid. Our share of those prices is included in earnings from equity-accounted investees and recorded in different bills within the investee data (see be aware 7 to the monetary statements). Since this expense is exterior of the conventional course of enterprise and solely occurred as a result of change in possession, we’ve excluded our share from our ANE measure.

To facilitate a greater understanding of those measures, the desk under reconciles adjusted web earnings with our web earnings for the third quarter and first 9 months of 2024 and compares it to the identical durations in 2023.

The next desk exhibits what contributed to the change in adjusted web earnings (non-IFRS measure, see above) for the third quarter and first 9 months of 2024 compares to the identical durations in 2023.

EBITDA

EBITDA is outlined as web earnings attributable to fairness holders, adjusted for the prices associated to the influence of the corporate’s capital and tax construction together with depreciation and amortization, finance revenue, finance prices (together with accretion) and revenue taxes. Included in EBITDA is our share of equity-accounted investees.

ADJUSTED EBITDA

Adjusted EBITDA is outlined as EBITDA, as additional adjusted for the influence of sure prices or advantages incurred within the interval that are both not indicative of the underlying enterprise efficiency or that influence the flexibility to evaluate the working efficiency of the enterprise. These changes embody the quantities famous within the ANE definition.

In calculating adjusted EBITDA, we additionally alter for gadgets included within the outcomes of our equity-accounted investees that aren’t changes to reach at our ANE measure. These things are reported as a part of different bills throughout the investee monetary data and usually are not consultant of the underlying operations. These primarily embody transaction, integration and restructuring prices associated to acquisitions.

The corporate might understand related features or incur related expenditures sooner or later.

ADJUSTED EBITDA MARGIN

Adjusted EBITDA margin is outlined as adjusted EBITDA divided by income for the suitable interval.

EBITDA, adjusted EBITDA and adjusted EBITDA margin are non-IFRS measures which permit us and different customers to evaluate outcomes of operations from a administration perspective with out regard for our capital construction.

To facilitate a greater understanding of those measures, the tables under reconcile web earnings with EBITDA and adjusted EBITDA for the third quarter and first 9 months of 2024 and 2023.

For the quarter ended September 30, 2024:

For the quarter ended September 30, 2023:

For the 9 months ended September 30, 2024:

For the 9 months ended September 30, 2023:

CASH COST PER POUND, NON-CASH COST PER POUND AND TOTAL COST PER POUND FOR PRODUCED AND PURCHASED URANIUM

Money value per pound, non-cash value per pound and complete value per pound for produced and bought uranium are non-IFRS measures. We use these measures in our evaluation of the efficiency of our uranium enterprise. These measures usually are not essentially indicative of working revenue or money circulate from operations as decided underneath IFRS.

To facilitate a greater understanding of those measures, the desk under reconciles these measures to value of product bought and depreciation and amortization for the third quarter and first 9 months of 2024 and 2023.

Administration’s dialogue and evaluation (MD&A) and monetary statements

The third quarter MD&A and unaudited condensed consolidated interim monetary statements present an in depth rationalization of our working outcomes for the three and 9 months ended September 30, 2024, as in comparison with the identical durations final yr. This information launch needs to be learn at the side of these paperwork, in addition to our audited consolidated monetary statements and notes for the yr ended December 31, 2023, first quarter, second quarter and annual MD&A, and our most up-to-date annual data kind, all of which can be found on our web site at cameco.com, on SEDAR+ at sedarplus.ca, and on EDGAR at sec.gov/edgar.shtml.

Certified individuals

The technical and scientific data mentioned on this doc for our materials properties McArthur River/Key Lake, Cigar Lake and Inkai was accredited by the next people who’re certified individuals for the needs of NI 43-101:

MCARTHUR RIVER/KEY LAKE

• Greg Murdock, common supervisor, McArthur River, Cameco
• Daley McIntyre, common supervisor, Key Lake, Cameco

CIGAR LAKE

• Kirk Lamont, common supervisor, Cigar Lake, Cameco

INKAI

• Sergey Ivanov, deputy director common, technical providers, Cameco Kazakhstan LLP

Warning about forward-looking data

This information launch contains statements and details about our expectations for the long run, which we check with as forward-looking data. Ahead-looking data relies on our present views, which might change considerably, and precise outcomes and occasions could also be considerably completely different from what we at the moment count on. Examples of forward-looking data on this information launch embody: our view that our third quarter operational efficiency helps our return to a tier-one value construction, and that there’s a development of enhancing operational efficiency and money circulate technology, backed by steady and rising market costs; our monetary outlook for each Cameco and Westinghouse; our expectation of continued strengthening of the business’s long run prospects; our beneficial dividend progress plan and expectations concerning dividend funds, and will increase via 2026; our notion of sustained, constructive momentum for nuclear power, and our capability to seize higher upside in future years; our view that our technique will align with our commitments, allowing us to ship fully-cycle worth; our 2024 uranium manufacturing outlook; our capability to rebalance our provide sources; our manufacturing expectations for JV Inkai; our expectation of robust money circulate technology, and intention to prioritize debt administration and discount whereas sustaining liquidity and powerful money circulate technology; our notion of a constructive shift in authorities, business and public assist for nuclear power, and persevering with monetary assist for entry to nuclear energy; our perception that Cameco is uniquely positioned to profit from these developments; our anticipated capability to attain our imaginative and prescient, together with a dedication to make our enterprise sustainable over the long run; our anticipated uranium common realized costs, manufacturing and deliveries and outlook for our share of Westinghouse’s 2024 adjusted EBITDA, in addition to its efficiency and money flows; anticipated Key Lake Mill and JV Inkai manufacturing ranges, and timing of shipments and deliveries; the anticipated timing of the finalization and submitting of a brand new technical report for the Inkai mine; our expectations concerning the constructing of our long-term contract portfolio and pipeline of enterprise underneath dialogue; our intention to file a brand new base shelf prospectus within the fourth quarter; and the timing of our third quarter convention name and announcement of our 2024 fourth quarter and annual outcomes.

Materials dangers that would result in completely different outcomes embody: surprising modifications in uranium provide, demand, long-term contracting, and costs; modifications in shopper demand for nuclear energy and uranium because of altering societal views and goals concerning nuclear energy, electrification and decarbonization; the chance that our views concerning nuclear energy, its progress profile, and advantages, might show to be incorrect; the chance that we might not be capable of obtain deliberate manufacturing ranges throughout the anticipated timeframes, or that the prices concerned in doing so exceed our expectations; the chance that the manufacturing ranges at Inkai might not be at anticipated ranges as a result of unavailability of enough volumes of sulfuric acid or for every other purpose, or that it might not be capable of ship its manufacturing when anticipated, dangers to Westinghouse’s enterprise related to potential manufacturing disruptions, the implementation of its enterprise goals, compliance with licensing or high quality assurance necessities, or that it might in any other case be unable to attain anticipated progress; the chance that we might not be capable of meet gross sales commitments for any purpose; the dangers to our enterprise related to potential manufacturing disruptions, together with these associated to world provide chain disruptions, world financial uncertainty, political volatility, labour relations points, and working dangers; the chance that we might not be capable of implement our enterprise goals in a way in keeping with our environmental, social, governance and different values; the chance that the technique we’re pursuing might show unsuccessful, or that we might not be capable of execute it efficiently; the chance that Westinghouse might not be capable of implement its enterprise goals in a way in keeping with its or our environmental, social, governance and different values; the submitting of our new base shelf prospectus or the brand new technical report for the Inkai mine could also be delayed for unanticipated causes; we could also be unable to pay dividends on our widespread shares via 2026 within the quantities we at the moment count on; and the chance that we could also be delayed in saying our future monetary outcomes.

In presenting the forward-looking data, we’ve made materials assumptions which can show incorrect about: uranium demand, provide, consumption, long-term contracting, progress within the demand for and world public acceptance of nuclear power, and costs; our manufacturing, purchases, gross sales, deliveries and prices; the market situations and different components upon which we’ve based mostly our future plans and forecasts; our contract pipeline discussions; Inkai manufacturing, its receipt of enough volumes of sulfuric acid, and our allocation of deliberate manufacturing and timing of deliveries; assumptions about Westinghouse’s manufacturing, purchases, gross sales, deliveries and prices, the absence of enterprise disruptions, and the success of its plans and methods; the success of our plans and methods, together with deliberate manufacturing; the absence of latest and antagonistic authorities rules, insurance policies or choices; that there is not going to be any vital antagonistic penalties to our enterprise ensuing from manufacturing disruptions, together with these relating to produce disruptions, financial or political uncertainty and volatility, labour relation points, growing older infrastructure, and working dangers; the assumptions regarding Westinghouse’s adjusted EBITDA; the submitting of our new base shelf prospectus and the brand new technical report for the Inkai mine is not going to be delayed for unanticipated causes; annual dividends on our widespread shares will likely be declared and paid within the quantities we anticipated via 2026 and our capability to announce future monetary outcomes when anticipated.

Please additionally evaluate the dialogue in our 2023 annual MD&A, our 2024 first and second quarter MD&A and our most up-to-date annual data kind for different materials dangers that would trigger precise outcomes to vary considerably from our present expectations, and different materials assumptions we’ve made. Ahead-looking data is designed that can assist you perceive administration’s present views of our near-term and longer-term prospects, and it might not be acceptable for different functions. We is not going to essentially replace this data until we’re required to by securities legal guidelines.

Convention name

We invite you to affix our third quarter convention name on Thursday, November 7, 2024, at 8:00 a.m. Jap.

The decision will likely be open to all buyers and the media. To hitch the decision, please dial (844) 763-8274 (Canada and US) or (647) 484-8814. An operator will put your name via. The slides and a stay webcast of the convention name will likely be obtainable from a hyperlink at cameco.com. See the hyperlink on our dwelling web page on the day of the decision.

A recorded model of the proceedings will likely be obtainable:

• on our web site, cameco.com, shortly after the decision
• on submit view till midnight, Jap, December 7, 2024, by calling (855) 669-9658 (Canada/ USA toll-free) or (412) 317-0088 (Worldwide toll) (Passcode 7713061)

2024 fourth quarter and annual report launch date

We plan to announce our 2024 fourth quarter and annual consolidated monetary and working outcomes earlier than markets open on February 20, 2025. Announcement dates are topic to alter.

Profile

Cameco is among the largest world suppliers of the uranium gas wanted to energise a clean-air world. Our aggressive place relies on our controlling possession of the world’s largest high-grade reserves and low-cost operations, in addition to vital investments throughout the nuclear gas cycle, together with possession pursuits in Westinghouse Electrical Firm and International Laser Enrichment. Utilities around the globe depend on Cameco to supply world nuclear gas options for the technology of protected, dependable, carbon-free nuclear energy. Our shares commerce on the Toronto and New York inventory exchanges. Our head workplace is in Saskatoon, Saskatchewan, Canada.

As used on this information launch, the phrases we, us, our, the Firm and Cameco imply Cameco Company and its subsidiaries until in any other case indicated.

View supply model on businesswire.com: https://www.businesswire.com/information/dwelling/20241106081013/en/

Investor inquiries:

Cory Kos
306-716-6782
cory_kos@cameco.com

Media inquiries:

Veronica Baker
306-385-5541
veronica_baker@cameco.com