Our Performance

Performance Table

For over 15 years we have disclosed our ESG performance through an extensive range of environment, safety, social, economic and governance indicators. In 2012, we began publicly disclosing our ESG performance in alignment with Global Reporting Initiative (GRI) Standards. For our 2020 reporting, we have also aligned our ESG performance indicators with the ones recommended by the Sustainability Accounting Standards Board (SASB).

We welcome stakeholder feedback at sustainabledevelopment@cameco.com

Company Context

Operations

Indicator	Units	2018	2019	2020	Reference	Notes	Boundary
Revenues	thousand CAD $	2,091,661	1,862,925	1,800,073	GRI 201-1		Cameco's sale of products and services
Total mining production	lbs U₃0₈	9,239,102	9,047,595	5,064,503	SASB EM-MM- 000.A	Cameco’s equity share of production from Cameco operated facilities. Cameco’s share of production from Joint Venture Inkai mine in Kazakhstan is not included.	Cameco equity share of operating facilities excluding JV Inkai
Production in our fuel services division (includes results for UF₆, UO₂, and fuel fabrication)	kgU	10,462,573	13,263,756	11,641,285	SASB EM-MM- 000.A		Cameco equity share of operating facilities

Environment

Water

Indicator	Units	2018	2019	2020	Reference	Notes	Boundary
Total water withdrawn	thousand m³	19,737	19,536	20,719	GRI G4 EN8	Includes intercepted water. Cameco withdraws water from surface water, collects groundwater, and withdraws water from municipal water utilities in the areas where we operate. Rainwater that comes into contact with our operations is collected and stored, which is reflected in our water withdrawal volumes. Cameco does not withdraw wastewater directly from other organizations. Water withdrawal from our exploration activities is not included. Cameco is currently evaluating how this indicator is reported to align with the new GRI standards and plans to update the way water withdrawal is reported in future ESG reports.	Cameco operated facilities (100% basis)
Fresh water withdrawn in regions with High or Extremely High Baseline Water Stress	percent	0	0	0	SASB EM-MM-140a.1	Fresh water defined as water with an average total dissolved solids (TDS) less or equal to 1,000 mg/L for the purpose of this indicator. Cameco is currently evaluating the definition of fresh water and may adjust this definition in 2021. Areas of High or Extremely High Baseline Water Stress were identified using the World Resources Institute Aqueduct tool. Cameco’s North Butte operation is classified in an area of high water stress (3-4). Cameco withdraws fresh water from a drinking water aquifer at North Butte for use in firewater suppression systems, bathrooms, and sinks within surface buildings. The quantity of water withdrawn is < 5,000 m3 annually. This is such a small proportion of total water withdrawn that it is not measurable within the corporate total.	Cameco operated facilities (100% basis)
Number of incidents of non-compliance associated with water quality permits, standards, and regulations (see definition)	number	0	0	0	SASB EM-MM-140a.2	Incidents of non-compliance associated with water quality permits, standards, and regulations are water-related incidents that resulted in formal enforcement actions.	Cameco operated facilities (100% basis)

Water quality

Indicator	Units	2018	2019	2020	Reference	Notes	Boundary
Water discharged to:						This indicator presents the annual volume of planned water discharge in thousands of cubic metres (thousand m3) by destination (i.e. surface water, municipal treatment facilities, land, evaporation pond, or deep disposal well) and treatment method (i.e. treated by Cameco, treated by municipal authorities, clean, or untreated). Cameco does not reuse water produced by other organizations. The annual volume of water discharged to evaporation from our Smith Ranch-Highland operation is not included.	#N/A
Surface water (clean diverted water to surface water)	thousand m³	4,950	6,446	6,143	GRI G4 EN22
Surface water (clean treated water to surface water)	thousand m³	13,435	12,119	13,145	GRI G4 EN22
Municipal treatment facilities	thousand m³	168	191	164	GRI G4 EN22
Land application via irrigation	thousand m³	189	136	146	GRI G4 EN22
Deep disposal well	thousand m³	939	975	1,049	GRI G4 EN22	We only dispose of water into licensed disposal wells in our US operations.
Evaporation pond	thousand m³	20	27	12	GRI G4 EN22

Tailings and mineral wastes

Indicator	Units	2018	2019	2020	Reference	Notes	Boundary
Weight of tailings and mineral waste	tonnes	35,785	67,238	26,731
Annual change in unreclaimed waste rock inventory	tonnes	10,329	44,040	23,089		Includes mineralized and non-mineralized waste rock.
Weight of other mineral waste	tonnes	3,410	21,749	1,429		Includes water treatment sludges and mine slimes.
Weight of tailings waste	tonnes	22,046	1,449	2,213	SASB EM-MM-150a.1	Includes the amount of tailings generated by Cameco operated facilities.	Cameco operated facilities (100% basis)
Percent of tailings waste recycled	percent	0%	0%	0%	SASB EM-MM-150a.1		Cameco operated facilities (100% basis)
Number of tailings impoundments (tailings management facilities)	number	4	4	4	SASB EM-MM-150a.3	Cameco has four tailings facilities but two are in-pit facilities. In-pit facilities are below the ground surface, so we do not classify them with respect to the consequence of a dam failure.	Cameco operated facilities (100% basis)
Number of tailings impoundments, broken down by Canadian Dam Association Consequence Classification Rating	number	N/A	N/A	2, Significant	SASB EM-MM-150a.3		Cameco operated facilities (100% basis)

Non-mineral wastes

Non-mineral waste does not include solid waste generated as tailings, water treatment sludge and slime, or waste rock. Non-mineral waste does include mineral processing waste. Cameco does not generate intermediate or high-level radioactive waste. The total amount of low-level radioactive, non-hazardous, and hazardous waste generated in each category is separated and presented by disposal method: diverted, landfilled, or stored on site. Diverted materials include those that are recycled, reused, incinerated, repurposed, or reprocessed. We separate waste into these disposal categories using internal tracking systems that track the inventory of waste on site and the transfer of waste off site. The amount of waste transferred off site is confirmed through information provided by the receiving organization.

Indicator	Units	2018	2019	2020	Reference	Notes	Boundary
Weight of low-level radioactive waste	tonnes	4,522	5,703	6,244	-	Low-level radioactive waste includes industrial materials that have become contaminated with radioactive material and are more radioactive than clearance levels and exemption quantities allow. Includes industrial materials such as protective equipment, paper, cardboard, equipment, tools, metal, plastic, concrete, sand, sludges, insulation, and wood. At our Saskatchewan facilities, this waste is referred to as contaminated waste. At our US facilities, it is referred to as 11e2 byproduct.	Cameco operated facilities (100% basis)
Low-level radioactive waste diverted	tonnes	1,373	1,466	1,043	-		Cameco operated facilities (100% basis)
Low-level radioactive waste landfilled or stored	tonnes	3,149	4,238	5,202	-		Cameco operated facilities (100% basis)
Weight of non-hazardous waste	tonnes	1,838	1,564	1,147	GRI 306-3	Non-hazardous waste includes domestic, commercial, and industrial materials that become waste, such as plastic, tin, paper and cardboard, tires, metal, wood pallets, kitchen cooking oil, and wood.	Cameco operated facilities (100% basis)
Non-hazardous waste diverted	tonnes	557	748	645	GRI 306-4		Cameco operated facilities (100% basis)
Non-hazardous waste landfilled or stored	tonnes	1,280	816	502	GRI 306-5		Cameco operated facilities (100% basis)
Weight of hazardous waste	tonnes	148	183	247	GRI 306-3	Hazardous waste includes hazardous recyclable materials, and generally means a waste with hazardous properties that may have potential effects to human health or the environment. Includes materials such as used petroleum fuels (oil, diesel, gas), batteries, paint and paint-related materials, compressed gas cylinders, and light fixtures.	Cameco operated facilities (100% basis)
Hazardous waste diverted	tonnes	118	130	155	GRI 306-4		Cameco operated facilities (100% basis)
Hazardous waste landfilled or stored	tonnes	30	53	92	GRI 306-5		Cameco operated facilities (100% basis)

Processing waste

Mineral processing waste is defined as the total non-hazardous, hazardous, and low-level radioactive waste generated during mineral processing by all facilities within the fuel services division. The waste generated during mineral processing is a subset of the categories above and should not be added to the wastes describes above.

Indicator	Units	2018	2019	2020	Reference	Notes	Boundary
Weight of total mineral processing waste	tonnes	1,851	2,506	4,259	SASB EM-MM-150a.2
Percent of total mineral processing waste diverted	percent	47%	35%	29%	SASB EM-MM-150a.2

GHG emissions/energy use

Cameco’s scope 1 greenhouse gas (GHG) emissions are presented as tonnes of carbon dioxide equivalents (CO2e). CO2e is used to compare the emissions from various GHG sources based on their global warming potential (GWP). Cameco adopted the GWPs published by Environment and Climate Change Canada (ECCC) and the United States Environmental Protection Agency (US EPA), which reference the GWPs stated in the International Panel on Climate Change’s Fourth Assessment Report. Cameco’s significant sources of direct GHG emissions include those generated by the consumption of fuel from non-renewable sources and industrial processes. Emission factors that are country- and fuel-specific are used to convert the fossil fuels consumed to GHG emissions in CO₂e. For our Canadian operations, we have used emission factors published by ECCC through the Greenhouse Gas Reporting Program. For our US operations, we use the emission factors published by the US EPA in the most recent Emission Factors for Greenhouse Gas Inventories document.

Cameco’s indirect (Scope 2) GHG emissions are presented as tonnes of CO₂e. CO₂e is used to compare the emissions from various GHG sources based on their GWP. Cameco adopted the GWPs published by ECCC and the US EPA, which reference the GWPs stated in the International Panel on Climate Change’s Fourth Assessment Report. Indirect GHG emissions are calculated by applying a utility- or region-specific emission factor to the amount of electricity purchased from that area, which is determined through utility invoices.

Indicator	Units	2018	2019	2020	Reference	Notes	Boundary
Gross global Scope 1 emissions (equity share)	tonnes CO₂e	97,422	88,976	86,831	SASB EM-MM-110a.1	Under the equity share approach, we have adjusted the GHG emissions reported to align with our financial ownership, specifically: 69.805% of McArthur River mine, 83.333% of Key Lake mill, 50.025% of Cigar Lake mine, and we have included 40% of emissions from JV Inkai.	Cameco equity share of operating facilities (includes JV Inkai)
Scope 2 emissions (equity share)	tonnes CO₂e	145,909	135,173	116,617	GRI 305-2		Cameco equity share of operating facilities (includes JV Inkai)
Gross global Scope 1 emissions (operational control)	tonnes CO₂e	123,359	111,126	107,807	GRI 305-1	Operational control basis means we report 100% of GHG emissions from Cameco operated facilities regardless of financial ownership.	Cameco operated facilities (100% basis)
Scope 2 emissions (operational control)	tonnes CO₂e	212,080	200,294	171,732	GRI 305-2		Cameco operated facilities (100% basis)
Total energy consumed	GJ	3,312,660	3,116,382	3,275,231	SASB EM-MM-130a.1	Cameco’s energy consumption includes energy consumed as fuel from non-renewable sources and energy consumed as electricity. Energy consumed as fuel from non-renewable sources is calculated by applying a fuel- and region-specific energy content factor to the consumed volume of non-renewable energy sources at Cameco’s operations. These energy sources include propane, natural gas, diesel and gasoline. Cameco does not utilize renewable energy sources directly. Energy consumed as electricity is calculated by applying a conversion factor of 0.0036 gigajoules per kilowatt hour (GJ/kWh) to the raw electricity consumption. Cameco does not sell energy as electricity, heating, cooling, or steam.	Cameco operated facilities (100% basis)
Grid electricity	percent	41%	43%	45%	SASB EM-MM-130a.1		Cameco operated facilities (100% basis)

Transition to a low carbon economy

Indicator	Units	2018	2019	2020	Reference	Notes	Boundary
Scope 1 emissions covered under emissions-limiting regulations	percent	0	90	91	SASB EM-MM-110a.1		Cameco operated facilities (100% basis)

Air quality

Air emissions are reported for operated facilities in Canada only. Air emissions from our in situ recovery operations in the US are not material for this indicator and are not included. Air emissions of NOx, SO2, CO, VOCs, PM, PM10, PM2.5 and NH3 are calculated using the guidance provided by Environment and Climate Change Canada through the National Pollutant Release Inventory. The total air emissions for these constituents include air emissions released through point sources such as process stacks, storage and handling, fugitive emissions, and as a result of road dust. Air emissions of uranium and Hydrogen Fluoride include air emissions released through point sources.

Indicator	Units	2018	2019	2020	Reference	Boundary
Carbon Monoxide (CO)	tonnes	57	10	9	SASB EM-MM-120a.1	Cameco operated facilities in Canada (100% basis)
NOx (excluding N₂O)	tonnes	183	118	138	SASB EM-MM-120a.1	Cameco operated facilities in Canada (100% basis)
SOx	tonnes	13	0	0	SASB EM-MM-120a.1	Cameco operated facilities in Canada (100% basis)
Particulate matter (PM₁₀)	tonnes	151	156	149	SASB EM-MM-120a.1	Cameco operated facilities in Canada (100% basis)
Volatile organic compounds (VOCs)	tonnes	13	1	1	SASB EM-MM-120a.1	Cameco operated facilities in Canada (100% basis)
Ammonia (NH₃)	tonnes	41	39	38	-	Cameco operated facilities in Canada (100% basis)
Uranium	tonnes	0.04	0.05	0.05	-	Cameco operated facilities in Canada (100% basis)
Hydrogen Fluoride	tonnes	0.58	0.53	0.61	SASB RT-CH-120a.1	Cameco operated facilities in Canada (100% basis)

Biodiversity/land

Indicator	Units	2018	2019	2020	Reference	Notes	Boundary
Proved reserves in or near sites with protected conservation status or endangered species habitat	percent	30	33	34	SASB EM-MM-160a.3	Protected conservation status or endangered species habitat in alignment with SASB Standards definition.	Cameco ownership of deposits
Probable reserves in or near sites with protected conservation status or endangered species habitat	percent	66	61	57	SASB EM-MM-160a.3		Cameco ownership of deposits

Acid-generating seepage, waste rock

Indicator	Units	2018	2019	2020	Reference	Notes
Percentage of mine sites where acid- generating seepage into surrounding surface water and/or groundwater is:
Predicted to occur	percent	14%	14%	20%	SASB EM-MM-160a.2
Actively mitigated	percent	14%	14%	20%	SASB EM-MM-160a.2	Active mitigation includes placing waste rock on a lined facility and collecting seepage.
Under treatment or remediation	percent	0%	0%	0%	SASB EM-MM-160a.2
Percentage of annual production output in metric tons (on an equity share basis) where acid-generating seepage into surrounding surface water and/or groundwater is:
Predicted to occur	percent	75%	73%	64%	SASB EM-MM-160a.2
Actively mitigated	percent	75%	73%	64%	SASB EM-MM-160a.2	Active mitigation includes placing waste rock on a lined facility and collecting seepage.
Under treatment or remediation	percent	0%	0%	0%	SASB EM-MM-160a.2

Decommissioning/closure

Indicator	Units	2018	2019	2020	Reference	Notes	Boundary
Terrestrial acreage disturbed	hectares	3,190	3,174	3,199	SASB EM-MD-160a.3	Cameco’s land, leased and owned, currently in use and not yet rehabilitated. This indicator excludes advanced uranium projects (Kintyre, Yeelirrie, Millennium), office structures, exploration activities, operations in which Cameco does not have operational control, or rented facilities that Cameco operates (Cobourg). The definition of land disturbed and not yet rehabilitated is dependent on the jurisdiction of the operation. In Saskatchewan, total land disturbed and not yet rehabilitated is accepted by regulators as “Developed” land. In the US, total land disturbed and not yet rehabilitated is defined by regulators as “Affected Area”. For Ontario, total land disturbed is equal to the licensed area of the facility.	Cameco operated facilities (100% basis)
Terrestrial acreage restored	hectares	Not reported	Not reported	0	SASB EM-MD-160a.3		Cameco operated facilities (100% basis)

Social

Occupational safety/health

Indicator	Units	2018	2019	2020	Reference	Notes	Boundary
Avg. radiation dose to employees	mSv/year	0.69	0.89	0.88	-	The average radiation dose is an arithmetic average of the annual effective doses received by all workers monitored for radiation at Cameco operated facilities at our mining, milling, and fuel services divisions in Saskatchewan, Ontario, and the US.	Cameco operated facilities (100% basis)
Avg. radiation dose to contractors	mSv/year	0.18	0.20	0.22	-		Cameco operated facilities (100% basis)
Avg. radiation dose to employees and contractors	mSv/year	0.49	0.57	0.59	-		Cameco operated facilities (100% basis)
Total Recordable Injury Rate (TRIR)						TRIR as defined by US OSHA.	Cameco operated facilities (100% basis)
TRIR employees	incidents per 200,000 hours worked	2.0	1.5	1.1	SASB EM-MM-320a.1	Encompasses all Cameco operated facilities including office facilities.	Cameco operated facilities (100% basis)
TRIR contractors	incidents per 200,000 hours worked	3.1	2.6	3.9	SASB EM-MM-320a.1		Cameco operated facilities (100% basis)
TRIR combined (all Cameco)	incidents per 200,000 hours worked	2.3	1.8	1.7	-		Cameco operated facilities (100% basis)
Fatality rate employees	fatalities per 200,000 hours worked	0	0	0	SASB EM-MM-320a.1		Cameco operated facilities (100% basis)
Fatality rate contractors	fatalities per 200,000 hours worked	0	0	0	SASB EM-MM-320a.1		Cameco operated facilities (100% basis)
Average hours of health and safety training for full-time employees	hours	21	40	27	SASB EM-MM-320a.1		Cameco operated facilities (100% basis)

Transportation safety

Indicator	Units	2018	2019	2020	Reference	Notes	Boundary
Number of transport incidents	number	0	0	0	SASB RT-CH-540a.2	Transport incidents include any transport incident that involves a release or potential release, per Section 8.2. of the Transportation of Dangerous Goods Regulation in Canada or 49 CFR 171.15 in the US.	Cameco controlled transportation

Employees

Indicator	Units	2018	2019	2020	Reference	Notes	Boundary
Total number of employees	number	1,897	1,885	1,931	SASB EM-MM-000.B	This indicator reports the total number of regular and temporary full- and part-time employees.	Cameco operated facilities (100% basis)
Total number of contractors	number of FTEs	541	506	389	SASB EM-MM-000.B	Full-time equivalent (FTE) contractors is equal to the number of contractor hours divided by 2,000 hours, as 2,000 hours is deemed the number of hours for a full-time equivalent employee.	Cameco operated facilities (100% basis)
Voluntary turnover rate	percent	5%	4%	3%	SASB CG-EC-330a.2	Turnover is calculated on regular full- and part-time employees.	Cameco operated facilities (100% basis)
Involuntary turnover rate	percent	25%	3%	1%	SASB CG-EC-330a.2		Cameco operated facilities (100% basis)

Diversity and inclusion

Indicator	Units	2018	2019	2020	Reference	Notes	Boundary
Total workforce
Women	percent	26%	25%	25%	GRI 405-1	Diversity information is only maintained on all regular and temporary full- and part-time employees in Canada. Our US operations are no longer required to file their equity information as the operations have less than 100 employees.	Cameco operated facilities (100% basis)
Indigenous	percent	18%	18%	19%	xxGRI 405-1x		Cameco operated facilities (100% basis)
Visible Minority	percent	5%	6%	7%	GRI 405-1		Cameco operated facilities (100% basis)
Persons with Disabilities	percent	2%	3%	3%	GRI 405-1		Cameco operated facilities (100% basis)
Management						Management includes select professional and supervisory positions, and all manager positions and above.
Women	percent	24%	26%	25%	GRI 405-1		Cameco operated facilities (100% basis)
Indigenous	percent	2%	4%	4%	GRI 405-1		Cameco operated facilities (100% basis)
Visible Minority	percent	6%	5%	5%	GRI 405-1		Cameco operated facilities (100% basis)
Persons with Disabilities	percent	1%	1%	1%	GRI 405-1		Cameco operated facilities (100% basis)

Unions

Indicator	Units	2018	2019	2020	Reference	Notes	Boundary
Total number of employees	number	1,897	1,885	1,931	SASB EM-MM-000.B	This indicator reports the total number of regular and temporary full- and part-time employees.	Cameco operated facilities (100% basis)
Employees covered under collective bargaining agreements	percent	23%	23%	24%	SASB EM-MM-310a.1		Cameco operated facilities (100% basis)
Employees covered under collective bargaining agreements in Canada	percent	24%	24%	25%	SASB EM-MM-310a.1		Cameco operated facilities (100% basis)
Employees covered under collective bargaining agreements outside of Canada	percent	0%	0%	0%	SASB EM-MM-310a.1		Cameco operated facilities (100% basis)
Number of strikes and lockouts	number	0	0	0	SASB EM-MM-310a.1	Work stoppages involving 1,000 or more workers lasting one full shift or longer.	Cameco operated facilities (100% basis)
Duration of strikes and lockouts	worker days idle	0	0	0	SASB EM-MM-310a.1		Cameco operated facilities (100% basis)

Relationships with communities

Indicator	Units	2018	2019	2020	Reference	Notes	Boundary
Number of non-technical delays	number	0	0	4	SASB EM-MM-210b.2	Non-technical delays are defined as all delays that are not technical in nature that result in production interruptions. Non-technical delays in 2020 were related to the global COVID-19 pandemic.	Cameco operated facilities (100% basis)
Duration of non-technical delays	days	0	0	237	SASB EM-MM-210b.2		Cameco operated facilities (100% basis)

Public support

Reported data on public support is taken directly from polling Cameco undertakes in the various regions in which we operate. Data collection is undertaken by marketing research experts using industry-accepted methodology aimed at collecting unbiased opinions of community support. Accuracy of individual polls varies by region and from year to year based on individual sample sizes. It is important to note that polling questions in Ontario are framed in terms of support for Cameco operations specifically while other regions are asked about their support of the uranium industry more broadly.

Indicator	Units	2018	2019	2020	Reference
Saskatchewan	percent	80	85	83	-
Northern Saskatchewan	percent	82	85	75	-
Port Hope, Ontario	percent	85	91	90	-
Blind River, Ontario	percent	97	N/A	96	-
Nebraska	percent	N/A	N/A	N/A	-
Wyoming	percent	N/A	N/A	N/A	-

Indigenous rights

Indicator	Units	2018	2019	2020	Reference	Notes	Boundary
Proved reserves in or near Indigenous land	percent	Not reported	Not reported	73%	SASB EM-MM-210a.2	Cameco defines Indigenous land as Indigenous territory, which is overlapping within the area of our northern Saskatchewan operations. Per the constitution of Kazakhstan, the land is owned by the state and there are no groups designated as Indigenous.	Cameco ownership of deposits
Probable reserves in or near Indigenous land	percent	Not reported	Not reported	60%	ASB EM-MM-210a.2		Cameco ownership of deposits
Residents of Saskatchewan's North (RSN) employed by Cameco	percent	49%	51%	52%	-	Residents of Saskatchewan’s North (RSN) are defined on our cameconorth.com website.	Cameco operated facilities in Saskatchewan
Residents of Saskatchewan's North (RSN) in management positions	percent	15%	14%	18%	-		Cameco operated facilities in Saskatchewan
Progressive Aboriginal Relations Achievement Level		Three-year certification cycle	Gold	Three-year certification cycle	-	The Canadian Council of Aboriginal Business (CCAB) promotes the full involvement of Indigenous people in Canada’s economy by building bridges between corporate Canada and Indigenous communities. Progressive Aboriginal Relations (PAR) recognized performance in the areas of Indigenous employment, business development, individual capacity, and community relations. Cameco has been awarded the CCAB’s PAR gold level distinction since 2001 on a three-year certification cycle.	Cameco operated facilities in Saskatchewan

Conflict zones

Indicator	Units	2018	2019	2020	Reference	Notes	Boundary
Percentage of proven reserves in or near areas of conflict	percent	0%	0%	0%	SASB EM-MM-210a.1		Cameco ownership of deposits
Percentage of probable reserves in or near areas of conflict	percent	0%	0%	0%	SASB EM-MM-210a.1		Cameco ownership of deposits

Economic value distributed

Indicator	Units	2018	2019	2020	Reference	Notes	Boundary
Revenues	thousand CAD $	2,091,661	1,862,925	1,800,073	GRI 201-1		Cameco's sale of products and services
Operating costs	thousand CAD $	1,564,285	1,453,352	1,531,137*	GRI 201-1	Operating costs is a non-IFRS financial measure that does not have a standardized meaning prescribed by IFRS and therefore is unlikely to be comparable to a similar measure presented by other companies. It is calculated for use in this report in accordance with GRI 201-1 as the sum of cost of sales, administration, exploration, and research and development less employee benefit expense. The most comparable IFRS measure is calculated from the statement of earnings as earnings (loss) from operations less revenue from products and services. This non-IFRS financial measure differs from the most comparable IFRS measure because it does not include employee benefit expense, other operating expense and loss on disposal of assets. The calculation of this non-IFRS measure has been made on a consistent basis for all periods presented.	Cameco's sale of products and services

* The following table shows a reconciliation of operating expenses in the primary financial statements to operating costs in this report for the year ended December 31, 2020:

Loss from operations	78,726
Less revenue from products and services	1,800,073
Operating expenses (income statement)	1,878,799
Operating expenses (income statement)	1,878,799
Employee benefit expense	(322,699)
Other operating expense	(23,921)
Loss on disposal of assets	(1,072)
Operating costs (GRI 201-1)	1,531,137

Value distributed

Indicator	Units	2018	2019	2020	Reference	Notes	Boundary
Employee wages and benefits	thousand CAD $	395,220	312,561	322,669	GRI 201-1		Cameco equity share of operated facilities
Payments to providers of capital	thousand CAD $	144,200	104,097	97,185	GRI 201-1	Payments to providers of capital includes dividends paid to shareholders and interest paid to lenders.	Cameco equity share of operated facilities
Payments to government	thousand CAD $	31,027	26,545	11,685	GRI 201-1	Payments to governments include income taxes, sales tax, and property taxes.	Cameco equity share of operated facilities
Community investment	thousand CAD $	1,838	1,576	2,000	GRI 201-1	Community investment includes donations to non-profits and charitable organizations.	Cameco equity share of operated facilities
Economic value retained	thousand CAD $	-44,909	-35,206	-163,501	GRI 201-1	Economic value retained is revenues minus value distributed. This is not a financial reporting indicator and should not be compared with retained earnings.	Cameco equity share of operated facilities

Governance

Ethics

Indicator	Units	2018	2019	2020	Reference	Notes	Boundary
New employees who have completed Code of Conduct and Ethics Orientation Course	percent	-	100	100	-
Targeted employees who have completed annual Code of Conduct and Ethics refresher course	percent	-	100	100	-	Targeted employees include all directors and above, as well as employees who work in supply chain management, human resources, tax, treasury, finance, business technology services, marketing, corporate development, legal, and executive offices.

Anti-corruption

Indicator	Units	2018	2019	2020	Reference	Notes	Boundary
Production in countries that have the 20 lowest rankings in Transparency International’s Corruption Perception Index	percent	0	0	0	SASB EM-MM-510a.2		Cameco equity share of operated facilities

Local procurement

Indicator	Units	2018	2019	2020	Reference	Notes	Boundary
Proportion of services procured by local providers by Cameco	percent	71%	61%	55%	GRI 204-1		Cameco operated facilities (100% basis)
Proportion of services procured by local providers in:						Local supplier is defined differently for each of Cameco’s operating locations as follows:
Northern Saskatchewan	percent	89%	85%	81%	GRI 204-1	Northern Saskatchewan local supplier – A company or joint venture that is at least 50% owned by people or communities from the Northern Saskatchewan Administration District.	Cameco operated facilities (100% basis)
Ontario	percent	50%	45%	41%	GRI 204-1	Ontario local supplier – One located in the province of Ontario.	Cameco operated facilities (100% basis)
US	percent	40%	43%	67%	GRI 204-1	US local supplier – A supplier located in the same state as the US mine operations. For Crow Butte operations is a supplier located in the state of Nebraska. For Smith Ranch-Highland operations is a supplier located in the state of Wyoming.	Cameco operated facilities (100% basis)