Cameco Corporation · TSX:CCO

Cameco — Investor Presentation (2026)

55 slides from Cameco's investor presentation, 2026

  1. Slide 1: Investor Presentation

    Investor Presentation

  2. Slide 2: Investor Relations contacts

    Cory Kos VICE-PRESIDENT, INVESTOR RELATIONS 306.716.6782, cory_kos@cameco.com Teagan Sloboshan SPECIALIST, INVESTOR RELATIONS 306.385.3620, teagan_sloboshan@cameco.com www.cameco.com Q2 2026 Financial and outlook information as of June 30, 2026 Mineral Reserve and Resource Estimates as of December 3

  3. Slide 3: Caution About Forward-Looking Information

    Caution About Forward-Looking Information Statements contained in this presentation include statements and information about our expectations for the future. When we discuss our strategy, plans and future financial and operating performance, or other things that have not yet taken place, we are maki

  4. Slide 4: Second Quarter Highlights

    2026 / Second Quarter Highlights Disciplined strategy, performance as expected Cameco ® O Solid first half of 2026 yv_ Reported solid financial performance for Q2, consistent with annual expectations yv Updated Guidance — increased revenue, average realized price and cost of sales outlook reflecting

  5. Slide 5: Cameco Overview

    CAMECO OVERVIEW 2026 • Q2 PAGE 5

  6. Slide 6: Table of Contents

    CAMECO OVERVIEW Table of Contents Cameco Overview......................................................................................... 8 Nuclear Industry ............................................................................................. 10 Nuclear Fuel Market..........................

  7. Slide 7: Cameco Overview

    CAMECO OVERVIEW NUCLEAR INDUSTRYCAMECO OVERVIEW NUCLEAR INDUSTRY NUCLEAR FUEL MARKETNUCLEAR INDUSTRYCANUCLEAR FUEL MARKET CAMECO’S STRATEGYNUCLEAR FUEL MARKETMECO OVERVIEW NUCLEAR INDUSTRYCAMECO OVERVIEW NUCLEAR INDCAMECO’S STRATEGY STRATEGY: CONTRACTING DISCIPLINECAMECO’S STRATEGYECSTRATEGY: CONTRA

  8. Slide 8: Cameco Overview

    CAMECO OVERVIEW 2026 • Q2 PAGE 8

  9. Slide 9: Nuclear Industry

    NUCLEAR INDUSTRY 2026 • Q2 PAGE 9

  10. Slide 10: Nuclear Industry

    NUCLEAR INDUSTRY 2026 • Q2 PAGE 10

  11. Slide 11: Nuclear Industry

    NUCLEAR INDUSTRY 2026 • Q2 PAGE 11

  12. Slide 12: Nuclear Industry

    NUCLEAR INDUSTRY 2026 • Q2 PAGE 12

  13. Slide 13: Nuclear Industry

    NUCLEAR INDUSTRY 2026 • Q2 PAGE 13

  14. Slide 14: Nuclear Industry

    NUCLEAR INDUSTRY 2026 • Q2 PAGE 14

  15. Slide 15: Nuclear Fuel Market

    NUCLEAR FUEL MARKET 2026 • Q2 PAGE 15

  16. Slide 16: Nuclear Fuel Market

    NUCLEAR FUEL MARKET 2026 • Q2 PAGE 16

  17. Slide 17: Nuclear Fuel Market

    NUCLEAR FUEL MARKET 2026 • Q2 PAGE 17

  18. Slide 18: Nuclear Fuel Market

    NUCLEAR FUEL MARKET 2026 • Q2 PAGE 18

  19. Slide 19: Nuclear Fuel Market

    NUCLEAR FUEL MARKET 2026 • Q2 PAGE 19

  20. Slide 20: Nuclear Fuel Market

    NUCLEAR FUEL MARKET 2026 • Q2 PAGE 20

  21. Slide 21: Nuclear Fuel Market

    NUCLEAR FUEL MARKET 2026 • Q2 PAGE 21

  22. Slide 22: Cameco's Strategy

    CAMECO’S STRATEGY 2026 • Q2 PAGE 22

  23. Slide 23: Strategy: Contracting Discipline

    STRATEGY: CONTRACTING DISCIPLINE STRATEGY: OPERATIONAL DISCIPLINESTRATEGY: CONTRACTING DISCIPLINE STRATEGY: OPERATIONAL DISCIPLINE STRATEGY: FINANCIAL DISCIPLINESTRATEGY: OPERATIONAL DISCIPLINESTRATEGY: CONTRACTING DISCIPLINE STRATEGY: OPERATIONAL DISCIPLINESTRATEGY: CONTRACTING DISCIPLINE STRATEGY:

  24. Slide 24: Strategy: Contracting Discipline

    STRATEGY: CONTRACTING DISCIPLINE 2026 • Q2 PAGE 24

  25. Slide 25: Strategy: Contracting Discipline

    STRATEGY: CONTRACTING DISCIPLINE 2026 • Q2 PAGE 25

  26. Slide 26: Strategy: Contracting Discipline

    STRATEGY: CONTRACTING DISCIPLINE 2026 • Q2 PAGE 26

  27. Slide 27: Strategy: Contracting Discipline

    STRATEGY: CONTRACTING DISCIPLINE 2026 • Q2 PAGE 27

  28. Slide 28: Strategy: Operational Discipline

    STRATEGY: OPERATIONAL DISCIPLINE STRATEGY: FINANCIAL DISCIPLINESTRATEGY: OPERATIONAL DISCIPLINE STRATEGY: FINANCIAL DISCIPLINE MINING OPERATIONSSTRATEGY: FINANCIAL DISCIPLINESTRATEGY: OPERATIONAL DISCIPLINE STRATEGY: FINANCIAL DISCIPLINESTRATEGY: OPERATIONAL DISCIPLINE STRATEGY: FINANCIAL DISCIPLINE

  29. Slide 29: Strategy: Operational Discipline

    STRATEGY: OPERATIONAL DISCIPLINE 2026 • Q2 PAGE 29

  30. Slide 30: Strategy: Operational Discipline

    STRATEGY: OPERATIONAL DISCIPLINE 2026 • Q2 PAGE 30

  31. Slide 31: Strategy: Financial Discipline

    STRATEGY: FINANCIAL DISCIPLINE MINING OPERATIONSSTRATEGY: FINANCIAL DISCIPLINE MINING OPERATIONS FUEL SERVICESMINING OPERATIONSSTRATEGY: FINANCIAL DISCIPLINE MINING OPERATIONSSTRATEGY: FINANCIAL DISCIPLINE MINING OPERATIONS FUEL SERVICESMINING OPERATIONS FUEL SERVICES FUEL CYCLE INVESTMENTS: WEC FUE

  32. Slide 32: Strategy: Financial Discipline

    STRATEGY: FINANCIAL DISCIPLINE 2026 • Q2 PAGE 32

  33. Slide 33: Mining Operations / Fuel Services

    MINING OPERATIONS FUEL SERVICESMINING OPERATIONS FUEL SERVICES FUEL CYCLE INVESTMENTS: WEC FUEL SERVICESMINING OPERATIONS FUEL SERVICESMINING OPERATIONS FUEL SERVICES FUEL CYCLE INVESTMENTS: WEC FUEL SERVICES FUEL CYCLE INVESTMENTS: WEC FUEL CYCLE INVESTMENTS: FUEL SERVICES FUEL CYCLE INVESTMENTS: W

  34. Slide 34: Mining Operations

    MINING OPERATIONS 2026 • Q2 PAGE 34

  35. Slide 35: Mining Operations

    MINING OPERATIONS 2026 • Q2 PAGE 35

  36. Slide 36: Mining Operations

    MINING OPERATIONS 2026 • Q2 PAGE 36

  37. Slide 37: Mining Operations

    MINING OPERATIONS 2026 • Q2 PAGE 37

  38. Slide 38: Fuel Services

    FUEL SERVICES FUEL CYCLE INVESTMENTS: WEC FUEL SERVICES FUEL CYCLE INVESTMENTS: WEC FUEL CYCLE INVESTMENTS: FUEL SERVICES FUEL CYCLE INVESTMENTS: WEC FUEL SERVICES FUEL CYCLE INVESTMENTS: WEC FUEL CYCLE INVESTMENTS: WEC FUEL CYCLE INVESTMENTS: WEC FUEL CYCLE INVESTMENTS: FUEL SERVICES 2026 • Q2 PAGE

  39. Slide 39: Fuel Cycle Investments: WEC

    FUEL CYCLE INVESTMENTS: WEC FUEL CYCLE INVESTMENTS: WEC FUEL CYCLE INVESTMENTS: WEC FUEL CYCLE INVESTMENTS: WEC FUEL CYCLE INVESTMENTS: WEC FUEL CYCLE INVESTMENTS: WEC FUEL CYCLE INVESTMENTS: WEC FUEL CYCLE INVESTMENTS: WEC 2026 • Q2 PAGE 39 FUEL CYCLE INVESTMENTS: WEC

  40. Slide 40: Fuel Cycle Investments: WEC

    FUEL CYCLE INVESTMENTS: WEC 2026 • Q2 PAGE 40

  41. Slide 41: Fuel Cycle Investments: WEC

    FUEL CYCLE INVESTMENTS: WEC 2026 • Q2 PAGE 41

  42. Slide 42: Fuel Cycle Investments: WEC

    FUEL CYCLE INVESTMENTS: WEC 2026 • Q2 PAGE 42

  43. Slide 43: Fuel Cycle Investments: WEC

    FUEL CYCLE INVESTMENTS: WEC 2026 • Q2 PAGE 43

  44. Slide 44: Fuel Cycle Investments: WEC

    FUEL CYCLE INVESTMENTS: WEC 2026 • Q2 PAGE 44

  45. Slide 45: Fuel Cycle Investments: WEC

    FUEL CYCLE INVESTMENTS: WEC 2026 • Q2 PAGE 45

  46. Slide 46: Fuel Cycle Investments: WEC

    FUEL CYCLE INVESTMENTS: WEC 2026 • Q2 PAGE 46

  47. Slide 47: Fuel Cycle Investments: WEC

    FUEL CYCLE INVESTMENTS: WEC 2026 • Q2 PAGE 47

  48. Slide 48: Fuel Cycle Investments: WEC

    FUEL CYCLE INVESTMENTS: WEC 2026 • Q2 PAGE 48

  49. Slide 49: Fuel Cycle Investments: WEC

    FUEL CYCLE INVESTMENTS: WEC 2026 • Q2 PAGE 49

  50. Slide 50: Fuel Cycle Investments: WEC

    FUEL CYCLE INVESTMENTS: WEC 2026 • Q2 PAGE 50

  51. Slide 51: Fuel Cycle Investments: GLE

    FUEL CYCLE INVESTMENTS: GLE 2026 • Q2 PAGE 51

  52. Slide 52: Financials

    FI FINANCIALS FINANCIALSFINANCIALS FINANCIALSFINANCIALS FINANCIALSFINANCIALS FINANCIALSFINANCIALS FINANCIALSFINANCIALS FINANCIALSFINANCIALS FINANCIALSFINANCIALS FINANCIALSFINANCIALS FINANCIALSFINANCIALS FINANCIALSFINANCIALS 2026 • Q2 PAGE 52 FINANCIALSFINANCIALS

  53. Slide 53: Mineral Resources

    FINANCIALS, Mineral Resources Measured, Indicated and Inferred (tonnes in thousands; pounds in millions) As of December 31, 2025 (100% — only the shaded column shows our share) TOTAL M+ TOTAL Mol INFERRED GRADE CONTENT GRADE CONTENT CONTENT CONTENT GRADE CONTENT CONTENT PROPERTY. TONNES _%U:0s_(LBU:

  54. Slide 54: Qualified persons

    Qualified persons The technical and scientific information discussed in this document for our material properties (McArthur River/Key Lake, Inkai and Cigar Lake) was approved by the following individuals who are qualified persons for the purposes of NI 43-101: MCARTHUR RIVER/KEY LAKE CIGAR LAKE INKA

  55. Slide 55: Cameco: Powering a Secure Energy Future

    © Powering a Secure Energy Future Cameco

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