Investor Presentaiton

Cigar Lake World-class, high-grade uranium mine Proven and Probable Reserves¹ 113.8 M lbs Cameco's Share 54.5% Average grade U3O8 17.03% Production 2023 production: Cameco Energizing a clean-alr world 15.1 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. JV Inkai A significant source of low-cost uranium production Proven and Probable Reserves1 104.7 M lbs Cameco's Share +40% Average grade U308 0.04% Production 2023 production: Cameco Energizing a clean-air world 8.3 M lbs (100% basis) 2024 forecast: (In Discussion with JV partner)² 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. #On February 1, 2024, KAP announced that production in Kazakhstan is expected to remain 20% below subsoil use agreements levels, primarily due to a sulfuric acid shortage in the country. We remain in discussions with JV Inkal and KAP to determine how this may impact production in 2024 First Quarter 2024 27 First Quarter 2024 28 16

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