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Investor Presentaiton

Focus on Value Well positioned for future demand with world-class, tier-one Assets Cameco's Share 485 M lbs Proven & Probable Reserves 409 M lbs Measured & Indicated Resources 153 M lbs Inferred Resources All values shown, including reserves and resources, represent our share only, unless indicated. Please see Cameco's most recent annual management's discussion and analysis (MD&A) for more information about these reserves and resources Cameco Energizing a clean-alr world Extensive reserves and resources ✓ Diversified supply ✓ Decisions driven by contracting success McArthur River/Key Lake The world's largest, high-grade uranium mine Proven and Probable Reserves¹ 265.6 M lbs Cameco's Share 69.8% Average grade U3O8 6.72% Production 2023 production: Cameco Energizing a clean-air world 13.5 M lbs (100% basis) 2024 outlook: 18.0 M lbs (100% basis) 'At December 31, 2023, our share only. See Cameco's 2023 annual management's discussion and analysis (MD&A) for more information about reserves and resources. First Quarter 2024 25 CAUTION FirstQuarter 2024 26 15
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