Cameco IPO Presentation Deck
Forward-Looking Information Caution
Cameco
Energizing a clean-air world
This presentation includes forward-looking information or forward-looking statements under Canadian and U.S. securities laws, which we refer to as "forward-looking information". Forward-looking information can generally be
identified by the use of words such as "approximately", "may", "will", "could", "believes", "expects", "intends", "should", "would", "plans", "potential", "project", "anticipates", "estimates", "scheduled" or "forecasts", or other
comparable terms that state that certain events will or will not occur. It represents the projections and expectations of the Company relating to future events or results as of the date of this presentation. This information about
our expectations for the future is based upon our current views, which can change significantly, and actual results and events may be significantly different from what we currently expect. Examples of forward-looking
information that may appear in this presentation include but are not limited to: our expectations regarding climate change; uranium fundamentals; strategy including investment in the nuclear fuel value chain; growth in
demand for energy, including clean energy; the potential joint acquisition; percentages of the potential joint acquisition; timeline of the potential joint acquisition; various growth factors and drivers for Westinghouse segments;
nuclear energy becoming an increasingly critical source of carbon-free energy; the potential joint acquisition creating a platform for growth across the nuclear value chain; expected enhancement of our financial profile and
diversification of our business mix; expected maintenance of our financial strength and continuation of our strategy execution; the potential partnership's ability to create value-accretive operational efficiencies; energy
demand growth to 2050; fossil fuel retirement; the potential clean energy gap; support for nuclear energy growth from macroeconomic, geopolitical and energy policies; and potential joint acquisition corporate organizational
structure. Material risk factors that could cause actual results or events to differ materially from those expressed in, or implied by, the forward-looking statements contained in this presentation, are disclosed in the sections
entitled "Material risks", "Material risks that could cause actual results to differ materially" and "Risks that can affect our business" in our Annual Information Form (the "AIF"), "Material risks" and "Material risks that could
cause actual results to differ materially" of the annual management discussion and analysis for the year ended December 31, 2021 (the "Annual MD&A") and "Material risks" section of the quarterly management, discussion
and analysis for the quarter ended June 30, 2022 ("Q2 MD&A"), as such disclosure shall be updated from time to time in Cameco's continuous disclosure documents. Readers are cautioned that the risks referred to above
are not the only ones that could affect Cameco. Additional risks and uncertainties not currently known to Cameco or that Cameco currently deems to be immaterial may also have a material adverse effect on Cameco's
financial position, financial performance, cash flows, business or reputation. Forward-looking statements made in this presentation are based on a number of assumptions that Cameco believed were reasonable at the time it
made each forward-looking statement. Refer in particular, but without limitation, to the sections entitled "Material assumptions" and "Assumptions" of the AIF, "Material assumptions" and "Assumptions" of the Annual MD&A,
and "Material assumptions" of the Q2 MD&A for a discussion of certain assumptions that Cameco has made in preparing forward-looking statements included or incorporated by reference in the presentation. The foregoing
assumptions, although considered reasonable by Cameco on the day it made the forward-looking statements, may prove to be inaccurate. Accordingly, our actual results could differ materially from our expectations. There
can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Investors are cautioned
that forward-looking information and statements are not guarantees of future performance. Cameco cannot assure investors that actual results will be consistent with the forward-looking information and statements.
Accordingly, investors should not place undue reliance on forward-looking information and statements due to the inherent uncertainty therein. For additional information with respect to risks, uncertainties and assumptions,
please refer to the "Risk Factors" section of the final base shelf prospectus of Cameco dated September 26, 2022, as well as any risk factors disclosed in the documents incorporated by reference therein.
The forward-looking information and statements included in this presentation represent our views as of the date of this presentation and should not be relied upon as representing our views as of any subsequent date. While
we anticipate that subsequent events and developments may cause our views to change, we specifically disclaim any intention or obligation to update forward-looking information, whether as a result of new information,
future events or otherwise, except to the extent required by applicable securities laws.
Forward-looking information contained in this presentation about prospective results of operations, financial position or cash flows that are based upon assumptions about future economic conditions and courses of action are
presented for the purpose of assisting you in understanding management's current views regarding those future outcomes, and may not be appropriate for other purposes.View entire presentation