Investor Presentaiton

Financial Strength Risk managed financial discipline Liquidity $323 Million Cash $1 Billion Undrawn credit facility Total debt* $1.5 Billion Credit ratings S&P: BBB- DBRS: BBB "As at March 31, 2024 Cameco Energizing a clean-air world Maintain strong balance sheet • Navigate by investment grade rating • Take advantage of value-adding opportunities as they arise 2024 Capital allocation priorities • Execute production plan and return to tier-one cost structure ⚫ Begin work on Cigar Lake extension • Evaluate expansion at McArthur River/Key Lake • Improve operational effectiveness • Look for an opportunity to refinance June 2024 debenture •In Q1, $200 million (US) partial repayment on floating-rate term loan that was put in place to help fund the acquisition of Westinghouse First Quarter 2024 21 Experienced, Reliable Supplier New contracting cycle is highlighting focus on security of supply Cameco Energizing a clean-air world Security A world leader in low-cost uranium production with a diversified portfolio and extensive reserves and resources Flexibility Best global exploration and advanced project pipeline prepared for growing demand Diversification Operations and investments spanning the nuclear fuel cycle, from exploration to CANDU fuel manufacturing Experience Global leaders in exploration and mining, environmental protection, worker health and safety, with decades of experience across the Fuel Cycle Sustainability Committed to long-term sustainability, clean environment and a safe, healthy and rewarding workplace First Quarter 2024 22 13

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