Cameco IPO Presentation Deck

Westinghouse Business Unit Overview w Westinghouse Business Unit Description Demand Drivers Outage and Maintenance Services Strong, long-term customer Business Profile relationships - predictable revenue streams Recurring Refueling, maintenance, inspection and repair services Safety-related maintenance and regulatory compliance; asset performance Operating Plant Services Engineered Systems and Solutions Engineering support for controls equipment, plant modifications, and components Core business with room for growth Long-term customer relationships, emergent and new plants Parts Provides replacement parts (e.g. control rod drives) Stable demand Largely consumables needed on recurring basis for plants to maintain safe and efficient operation Nuclear Fuel Designs and fabricates fuel Strong, long-term customer relationships predictable revenue streams 18-24 month refueling cycle Cameco Energizing a clean-air world Environmental Services Government Services Provides site management services to government customers, primarily the U.S. and U.K. Decontamination & Decommissioning Government environmental management budget Decontamination, dismantling and waste management services Growth area Waste mgmt. through life of operations and permanent plant retirements at end of life (decommissioning) Energy Systems New Plant Projects Designs, develops and procures equipment for new plants on a cost-plus basis Multi-year projects with no fixed price construction risk New nuclear power plants and MMRS (eVinci) x Highly visible and multi-year projects 15

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