Producing affordable, clean energy while achieving a sustainable balance between increasing electricity demand and environmental stewardship – this is the promise and potential of a future powered by nuclear energy. It's why a new generation is opting for nuclear as a reliable and secure energy choice.

Cameco is poised and ready to support the new generation. We are a company with the expertise and capacity to deliver the benefits of nuclear energy – starting right now. As the world's largest uranium producer, Cameco already provides about 20% of global uranium production from the richest mines on the planet. We are also expanding our production by developing two new mines. The company is looking to the long-term nuclear future, seeking new reserves through a global exploration program with emphasis in North America and Australia. In nuclear fuel production, Cameco has 38% of the western world's UF₆ conversion capacity, and provides conversion services and fuel fabrication for Candu reactors. Power production rounds out Cameco's nuclear focus, with 1,000 MW of nuclear power in Ontario.

A new generation, attentive to the wisdom of scientists, environmentalists and consumers, understands the future is nuclear. Cameco knows nuclear and is ready for that future.

The choice being made by a new generation makes Cameco the nuclear investment of choice.

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Forward-looking statement

Statements contained in this document, which are not historical facts, are forward-looking statements that involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by forward-looking statements. Factors that could cause such differences, without limiting the generality of the foregoing, include: volatility and sensitivity to market prices for uranium, gold, conversion services and electricity in Ontario; the impact of the change in sales volume of uranium, conversion and fuel manufacturing services, electricity generated by BPLP, and gold produced by Centerra Gold Inc.; the financial results and operations of BPLP and Centerra Gold Inc.; competition; the impact of change in foreign currency exchange rates and interest rates; imprecision in production, reserve, decommissioning, reclamation and tax estimates; adverse mining conditions; unexpected geological or hydrological conditions; operating performance (including any disruption thereto) and life of the company's and customers' facilities; reduction in electricity generated due to unplanned outages or planned outages that extend beyond the scheduled period at BPLP's facilities; environmental and safety risks including increased regulatory burdens and long-term hazardous waste disposal; risks associated with the transport of uranium and chemicals and fuel used in the production process; political risks arising from operating in certain developing countries; terrorism; sabotage; a possible deterioration in political support for nuclear energy; changes in government regulations and policies, including nuclear energy, environmental, tax and trade laws and policies; demand for nuclear power; failure to replace production; failure to obtain and maintain necessary permits and approvals from government authorities; legislative and regulatory initiatives regarding deregulation, re-regulation or restructuring of the electric utility industry in Ontario; Ontario electricity rate regulations; natural phenomena including inclement weather conditions, fire, flood, underground floods, earthquakes, pit wall failures and cave ins; ability to maintain and improve positive labour relations; strikes or lockouts; success of planned development projects; and other development and operating risks.

Although Cameco believes the assumptions inherent in forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this report. Cameco disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise, except as otherwise required by applicable law.