UNCLASSIFIED - NON CLASSIFIÉ#
Extractive Sector Transparency Measures Act - Annual Report | ||||||
Reporting Entity Name | Cameco Corporation | |||||
Reporting Year | From | 2025-01-01 | To: | 2025-12-31 | Date submitted | 2026-05-29 |
Reporting Entity ESTMA Identification Number | E886600 |
Original Submission
Amended Report | ||||
Other Subsidiaries Included (optional field) | ||||||
Not Consolidated | ||||||
Not Substituted | ||||||
Attestation by Reporting Entity | ||||||
In accordance with the requirements of the ESTMA, and in particular section 9 thereof, I attest I have reviewed the information contained in the ESTMA report for the entity(ies) listed above. Based on my knowledge, and having exercised reasonable diligence, the information in the ESTMA report is true, accurate and complete in all material respects for the purposes of the Act, for the reporting year listed above. | ||||||
Full Name of Director or Officer of Reporting Entity | Heidi Shockey | Date | 2026-05-29 | |||
Position Title | Senior Vice-President and Chief Financial Officer | |||||
Extractive Sector Transparency Measures Act - Annual Report | |||||||||||
Reporting Year | From: | 2025-01-01 | To: | 2025-12-31 | |||||||
Reporting Entity Name | Cameco Corporation | Currency of the Report | CAD | ||||||||
Reporting Entity ESTMA Identification Number | E886600 | ||||||||||
Subsidiary Reporting Entities (if necessary) | |||||||||||
Payments by Payee | |||||||||||
Country | Payee Name1 | Departments, Agency, etc… within Payee that Received Payments2 | Taxes | Royalties | Fees | Production Entitlements | Bonuses | Dividends | Infrastructure Improvement Payments | Total Amount paid to Payee | Notes34 |
Canada | national government of Canada | 68,980,000 | 5,890,000 | 74,870,000 | Payments for Corporate taxes and regulatory oversight. Departments include Receiver General † , Canadian Nuclear Safety Commission (CNSC), Industry Canada, & Environment Canada. | ||||||
Canada -Saskatchewan | the province of Saskatchewan | 9,170,000 | 182,820,000 | 5,170,000 | 197,160,000 | Payments for property taxes, royalties, highway maintenance, and regulatory oversight. Departments include Ministry of Economy, Ministry of Finance, Ministry of Government Relations, Ministry of Environment, Ministry of Highways & Infrastructure. | |||||
Canada -Ontario | the province of Ontario | Ministry of Finance | 50,000 | 50,000 | Payments for mandatory hoist rope testing | ||||||
Canada -Saskatchewan | Athabasca Community Trust | 4,720,000 | 4,720,000 | Payments to the trust are attributed to Black Lake Denesuline First Nation, Fond du Lac Denesuline First Nation, Hatchet Lake Denesuline First Nation, northern hamlet of Stony Rapids, northern settlement of Wollaston Lake, northern settlement of Uranium City, and northern settlement of Camsell Portage. | |||||||
Canada -Saskatchewan | English River First Nation | 1,450,000 | 1,450,000 | Payments are comprised of contributions stipulated in collaboration agreements with the community. These include payments directly to the community and to a community-owned contractor and consultant. Some payments are made to support the building and maintenance of community facilities | |||||||
Canada -Saskatchewan | Lac La Ronge Indian Band Community Trust | 770,000 | 770,000 | Payments based on the collaboration agreement, including funding for education and community liaison. The trust is attributed to the communities of Grandmother's Bay, Hall Lake, La Ronge, Little Red River, Stanley Mission, and Sucker River | |||||||
Canada -Saskatchewan | northern village of Pinehouse | 2,110,000 | 2,110,000 | Payments are mostly comprised of contributions stipulated in collaboration agreements with the community. These include payments directly to the community and to a community-owned contractor. Some payments are made to support the building and maintenance of community facilities | |||||||
Canada -Saskatchewan | Six Rivers Fund | 100,000 | 100,000 | Trust fund to benefit indigenous communities in Northern Saskatchewan. Money is granted to projects to support youth, education, health & wellness, and sports & recreaction. | |||||||
United States of America | national government of United States of America | 1,870,000 | 1,870,000 | Departments include Nuclear Regulatory Commission, Bureau of Land Management, Department of Agriculture. Transaction occurred in USD$, converted to CAD$ at the exchange rate existing at time of payments (Avg. $1.41 CAD/USD). | |||||||
Extractive Sector Transparency Measures Act - Annual Report | |||||||||||
Reporting Year | From: | 2025-01-01 | To: | 2025-12-31 | |||||||
Reporting Entity Name | Cameco Corporation | Currency of the Report | CAD | ||||||||
Reporting Entity ESTMA Identification Number | E886600 | ||||||||||
Subsidiary Reporting Entities (if necessary) | |||||||||||
Payments by Payee | |||||||||||
Country | Payee Name1 | Departments, Agency, etc… within Payee that Received Payments2 | Taxes | Royalties | Fees | Production Entitlements | Bonuses | Dividends | Infrastructure Improvement Payments | Total Amount paid to Payee | Notes34 |
United States of America | the state of Wyoming | 100,000 | 430,000 | 530,000 | Departments include Department of Environmental Quality,Office of State Lands and Investments, Department of Revenue, Secretary of State. Transaction occurred in USD$, converted to CAD$ at the exchange rate existing at time of payments (Avg. $1.41 CAD/USD) | ||||||
United States of America | the state of Nebraska | 110,000 | 110,000 | Departments include Department of Environmental Quality, Board of Education, Department of Health & Human Services. Transaction occurred in USD$, converted to CAD$ at the exchange rate existing at time of payments (Avg. $1.41 CAD/USD) | |||||||
United States of America | the municipality of Campbell County | 250,000 | 250,000 | Wyoming county authority (North Butte). Payments for property taxes & licence fees. Transaction occurred in USD$, converted to CAD$ at the exchange rate existing at time of payments (Avg. $1.41 CAD/USD) | |||||||
United States of America | the municipality of Converse County | 540,000 | 40,000 | 580,000 | Wyoming county authority (Smith Ranch-Highland). Payments for property taxes & licence fees. Transaction occurred in USD$, converted to CAD$ at the exchange rate existing at time of payments (Avg. $1.41 CAD/USD) | ||||||
United States of America | the municipality of Dawes County | 90,000 | 10,000 | 100,000 | Nebraska county authority (Crow Butte). Payments for property taxes & licence fees. Transaction occurred in USD$, converted to CAD$ at the exchange rate existing at time of payments (Avg. $1.41 CAD/USD) | ||||||
United States of America | the municipality of Fremont County | 10,000 | 10,000 | Wyoming county authority (Gas Hills). Payments for property taxes. Transaction occurred in USD$, converted to CAD$ at the exchange rate existing at time of payments (Avg. $1.37 CAD/USD) | |||||||
Australia | Government of Western Australia | Department of Mines & Petroleum | 250,000 | 250,000 | Payments for regulatory oversight. Transaction occurred in AUD$, converted to CAD$ at the exchange rate existing at time of payments (Avg. $0.90 CAD/AUD) | ||||||
Australia | Western Desert Lands Aboriginal Corp | 50,000 | 50,000 | Payments to the holding corporation are attributed to the Martu peoples. Transaction occurred in AUD$, converted to CAD$ at the exchange rate existing at time of payments (Avg. $0.90 CAD/AUD) | |||||||
Additional Notes: | As required by Canada's Extractive Sector Transparency Measures Act (ESTMA), Cameco has reported to the Canadian government payments made to governments in Canada, the United States, and Australia. These payments include royalties, taxes and fees paid during a year by Cameco and its subsidiaries to various levels of government related to commercial development. Under ESTMA commercial development captures the exploration and extraction of minerals and does not include post-extraction activities, such as refining, processing, marketing, distribution, transportation or export. † Income taxes paid to the Receiver General (Government of Canada) relates to both exploration and extraction of minerals, as well as post-extraction activities. As a result, these payments are not fully attributable to extractive activities. Additionally, our 2025 payments are expected to be refunded in future periods and have been recorded as a receivable in the Company's financial statements (see note 10 to Cameco's annual consolidated financial statements for the year ended December 31, 2025). | ||||||||||
1 Enter the proper name of the Payee receiving the money (i.e. the municipality of x, the province of y, national government of z).
2 Department, Agency, Etc.
3 When payments are made in-kind, the notes field must highlight which payment includes in-kind contributions and the method for calculating the value of the payment.
4 Any payments made in currencies other than the report currency must be identified. The Reporting Entity may use the Additional notes row or the Notes column to identify any payments that are converted, along with the exchange rate and primary method used for currency conversions.
Extractive Sector Transparency Measures Act - Annual Report | ||||||||||
Reporting Year | From: | 2025-01-01 | To: | 2025-12-31 | ||||||
Reporting Entity Name | Cameco Corporation | Currency of the Report | CAD | |||||||
Reporting Entity ESTMA Identification Number | E886600 | |||||||||
Subsidiary Reporting Entities (if necessary) | ||||||||||
Payments by Project | ||||||||||
Country | Project Name1 | Taxes | Royalties | Fees | Production Entitlements | Bonuses | Dividends | Infrastructure Improvement Payments | Total Amount paid by Project | Notes23 |
Canada -Saskatchewan | Cameco Corporation | 68,980,000 | 182,820,000 | 9,160,000 | 260,960,000 | income taxes† , corporate royalties & colloboration agreements that are not assigned/attributed to a specific project | ||||
Canada -Saskatchewan | Key Lake | 1,200,000 | 4,430,000 | 5,630,000 | property taxes & regulatory fees (100% of payments reported, Cameco ownership 83.3%) | |||||
Canada -Saskatchewan | McArthur River | 2,620,000 | 2,250,000 | 4,870,000 | property taxes & regulatory fees (100% of payments reported, Cameco ownership 69.8%) | |||||
Canada -Saskatchewan | Cigar Lake | 5,010,000 | 2,300,000 | 7,310,000 | property taxes & regulatory fees (100% of payments reported, Cameco ownership 54.5%) | |||||
Canada -Saskatchewan | Rabbit Lake | 340,000 | 1,950,000 | 2,290,000 | property taxes & regulatory fees | |||||
Canada -Saskatchewan | Exploration | 160,000 | 160,000 | claim staking and maintenance fees | ||||||
United States of America | Crow Butte Resources | 90,000 | 1,110,000 | 1,200,000 | property taxes & regulatory fees Transaction occurred in USD$, converted to CAD$ at the exchange rate existing at time of payment (Avg. $1.40 CAD/USD) | |||||
United States of America | Power Resources Inc | 810,000 | 100,000 | 1,350,000 | 2,260,000 | property taxes, regulatory fees, claims fees & lease payments Transaction occurred in USD$, converted to CAD$ at the exchange rate existing at time of payment (Avg. $1.40 CAD/USD) | ||||
Australia | Cameco Australia | . | 300,000 | 300,000 | regulatory oversight and community based payments Transaction occurred in AUD$, converted to CAD$ at the exchange rate existing at time of payment (Avg. $0.90 CAD/AUD) | |||||
Additional Notes3: | As required by Canada's Extractive Sector Transparency Measures Act (ESTMA), Cameco has reported to the Canadian government payments made to governments in Canada, the United States, and Australia. These payments include royalties, taxes and fees paid during a year by Cameco and its subsidiaries to various levels of government related to commercial development. Under ESTMA commercial development captures the exploration and extraction of minerals and does not include post-extraction activities, such as refining, processing, marketing, distribution, transportation or export. † Income taxes paid to the Receiver General (Government of Canada) relates to both exploration and extraction of minerals, as well as post-extraction activities. As a result, these payments are not fully attributable to extractive activities. Additionally, our 2025 payments are expected to be refunded in future periods and have been recorded as a receivable in the Company's financial statements (see note 10 to Cameco's annual consolidated financial statements for the year ended December 31, 2025). | |||||||||