Cameco Corporation is one of the world’s largest global providers of uranium fuel needed to energize a clean-air world. We are a pure-play nuclear fuel investment with a proven track record and the strengths to take advantage of the world’s rising demand for safe, reliable, affordable and carbon-free energy. Nuclear energy plants around the world use Cameco’s uranium products to generate one of the cleanest sources of electricity available today. Our operations and investments span the nuclear fuel cycle, from exploration to enrichment and fuel manufacturing.

Cameco is committed to delivering its products safely and responsibly. Sustainable development principles and practices are integrated at each level of Cameco’s organization, from overall corporate strategy to individual employee practice in day-to-day operations.

Cameco’s corporate objectives are set out under four measures of success: a safe, healthy and rewarding workplace; a clean environment; supportive communities; and, outstanding financial performance.

SAFE, HEALTHY, REWARDING WORKPLACE

The safety and health of our workers and the public is our highest corporate priority. We measure our performance against safety metrics originally established by the US Occupational Safety and Health Administration (OSHA). We also focus on leading indicators that prevent injuries and specifically those that are focused on improving our safety performance.

CLEAN ENVIRONMENT

Cameco is committed to being a leading environmental performer. Protection of the environment is one of our highest corporate priorities during all stages of our activities from exploration through development, operations, and decommissioning. Environmental stewardship is embedded in how we operate. This is done by keeping risks as low as reasonably achievable and looking for opportunities to move beyond regulatory requirements. Progress is tracked by monitoring the air, water, and safeguarding the biodiversity of surrounding ecosystems near the company’s operations, and by measuring the amount of energy used and the amount of waste generated. This information helps Cameco identify opportunities to improve.

SUPPORTIVE COMMUNITIES

Gaining the trust and support of our communities, our Indigenous partners, and governments is necessary to sustain our business. We earn support and trust through excellent safety and environmental performance, by proactively engaging our stakeholders in an open and transparent way, and by making a difference in communities wherever we operate. We are a leading industrial employer of Indigenous peoples in Canada, and a seven-time Gold designation through the Progressive Aboriginal Relations Awards as judged by the Canadian Council for Aboriginal Business. Since 2004, we have procured nearly $4.4 billion in services from local suppliers in northern Saskatchewan. These efforts are critical to obtaining and maintaining the necessary regulatory approvals.

OUTSTANDING FINANCIAL PERFORMANCE

Long-term financial stability and profitability are essential to our sustainability as a company. We have a responsibility to deliver value to our shareholders, and we use accepted measures to ensure we deliver outstanding financial performance.

TSM PERFORMANCE

Cameco remains committed to effective management systems, which is reflected in its strong TSM scores. In 2024, Cameco continues to report TSM results for Rabbit Lake, which remains in a safe state of care and maintenance following the suspension of production in 2016.

Indigenous and Community Relationships

Cameco’s commitment to meaningful and timely community engagement is reflected in the TSM results for its facilities. Cigar Lake, Key Lake, Rabbit Lake and McArthur River achieved Level AAA performance for all indicators of the Indigenous and Community Relationships Protocol.

Crisis Management and Communications Planning

Cameco’s corporate office and participating facilities met all of the criteria of the Crisis Management and Communications Planning Protocol.

Safe, Healthy and Respectful Workplaces

Cameco continued to demonstrate high levels of performance in the area of safety and health. Cigar Lake, Key Lake, Rabbit Lake and McArthur River achieved at least Level AA performance for all of the TSM Safety and Health Protocol’s five indicators.

Tailings Management

Cameco achieved Level A performance in tailings management for its Key Lake and Rabbit Lake operations. The company has been engaged in MAC’s continued review of the tailings guides and has implemented a number of changes in recent years to further improve our management of tailings facilities in alignment with this guidance.

Water Stewardship

Cameco takes water stewardship very seriously, which is reflected in our TSM scores of level A and higher at Key Lake, McArthur River, Rabbit Lake and Cigar Lake throughout all water stewardship indicators.

Biodiversity Conservation Management

Cigar Lake, Key Lake, Rabbit Lake and McArthur River maintained strong performance in biodiversity conservation management as well, with at least Level A performance for all three of the Protocol’s indicators.

Equitable, Diverse and Inclusive Workplaces

Cameco was actively involved in creation of the new Equitable, Diverse and Inclusive Workplaces protocol. In many of the protocol areas, Cameco had existing activities already in place and planning on further improvements is underway to address gaps to the new protocol.

Prevention of Child and Forced Labour

Cameco meets all expectations of the Prevention of Child and Forced Labour protocol.

Climate Change Protocol

At Cameco, we recognize the critical nature of the fight against climate change, and want our workers, customers, investors and community partners near our operations to know we are committed to being an active and constructive partner in addressing this challenge. Cameco’s board and management understand that our responses to the changing dynamics of climate-related opportunities and risks are central to long-term sustainability and value for all of Cameco’s stakeholders.

ACHIEVEMENTS

Cameco is a seven-time Gold award winner through the Progressive Aboriginal Relations program, as judged by the Canadian Council for Aboriginal Business. It is a leading employer of Indigenous peoples in Canada and has procured nearly $4.4 billion in services from local suppliers in northern Saskatchewan since 2004. For more information on Cameco’s social and environmental performance, please review its Sustainable Development report at www.cameco.com/about/sustainability.

MAC named Cameco a finalist for its 2022 TSM Community Engagement Excellence Award, in recognition of our 2021 project geared at Indigenous training and upskilling for the future in northern Saskatchewan. These 15 training courses are designed to prepare northern Saskatchewan residents to apply for employment at mine sites and to enhance skills that can be applied to other employment opportunities in their local communities and are still in place today.

For more information, please visit www.cameco.com