Investor Presentaiton

Freeze hole detail Cigar Lake - Surface Freezing Detail Surface freeze cross section Freeze plant Overburden Jet boring holes Return tubing JBS production tunnels 26 Supply tubing- Surface Freeze plant Chilled brine- Surface freeze Warm brine Freeze hole specifications ⚫462 m long, overburden to ~40 m .~8-10 days/drill hole ⚫required accuracy of ~1.5 m 100-120 holes/production panel Timeline .~1.5-2 years to drill, outfit and activate a production panel ⚫freezing takes 2-5 years, depending on hole spacing and ground conditions -465 m Cameco Cameco Drill hole colour key Active freeze holes Drilled freeze holes Cigar Lake - Surface Freezing

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