Code of Conduct & Ethics

By conducting ourselves ethically and with integrity, we continue to build strong relationships and earn the trust of others. How we do business is what makes Cameco a supplier, partner, investment and employer of choice in the nuclear industry.

Cameco's Code of Conduct and Ethics applies to all employees, officers and board members of Cameco and its subsidiaries. The code includes guidance on how to conduct business according to our values – safety and environment, people, integrity and excellence.

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CEO's Message to Employees

At Cameco, we have built a strong reputation for maintaining the highest standards of ethical behaviour. This is what has helped the company grow into the global business it is today, and is essential as we carry out our vision of Energizing a Clean-Air World.

As we continue to grow our business, we will face ethical choices. Cameco’s Code of Conduct and Ethics (the Code) is your guide on how we uphold our value of integrity. Integrity is hard earned and easily lost, and it’s something we all have to work hard to protect.

The Code applies to all employees, officers and board directors of Cameco and its subsidiaries, setting a clear standard of what we expect you to follow in all of your work-related activities at our offices, on sites, when you are working remotely, at Cameco functions, during work-related travel or when you are representing Cameco. Because not every situation is covered in the Code, it is important that we follow the spirit of the document, not just the words. When in doubt, ask your manager or the contacts listed on the back page for guidance.

If you know of, or suspect, any violations of this Code, I expect you to bring your concerns to your supervisor or local HR representative. If you prefer, you can report concerns anonymously through the Ethics Hotline, either online or at the toll-free numbers listed in the Code. You can expect the company to investigate the matter and protect you from any form of retaliation when you report a concern in good faith.

Thank you for your continued dedication to Cameco and your commitment to making a difference by upholding the standards set forth in our Code. Our dedication to integrity allows us to take pride in our work and in our reputation as a good corporate citizen.

Tim Gitzel

President and Chief Executive Officer