1.Cameco Corporation

Cameco Corporation is incorporated under the Canada Business Corporations Act. The address of its registered office is 2121

11th Street West, Saskatoon, Saskatchewan, S7M 1J3. The consolidated financial statements as at and for the year ended

December 31, 2025 comprise Cameco Corporation and its subsidiaries (collectively, the Company or Cameco) and the

Company’s interests in associates and joint arrangements.

Cameco is one of the world’s largest providers of the uranium needed to generate clean, reliable baseload electricity around

the globe. The Company has operations in northern Saskatchewan and the United States, as well as a

40

% interest in Joint

Venture Inkai LLP (JV Inkai), a joint arrangement with Joint Stock Company National Atomic Company Kazatomprom

(Kazatomprom), located in Kazakhstan. Cameco also has a

49

% interest in Westinghouse Electric Company (Westinghouse),

a joint venture with Brookfield Renewable Partners and its institutional partners (collectively, Brookfield). Westinghouse is one

of the world’s largest nuclear services businesses with corporate headquarters in Pennsylvania and operations around the

world. Both JV Inkai and Westinghouse are accounted for on an equity basis (see note 11).

Cameco has

two

operating mines, Cigar Lake and McArthur River as well as a mill at Key Lake. The Rabbit Lake operation

was placed in care and maintenance in 2016. Cameco’s operations in the United States, Crow Butte and Smith Ranch-

Highland, are not currently producing as the decision was made in 2016 to curtail production and defer all wellfield

development. See note 27 for the financial statement impact.

The Company is also a leading provider of nuclear fuel processing services, supplying much of the world’s reactor fleet with

the fuel to generate one of the cleanest sources of electricity available today. It operates the world’s largest commercial

refinery in Blind River, Ontario, controls a significant portion of the world UF

6

primary conversion capacity in Port Hope,

Ontario and is a leading manufacturer of fuel assemblies and reactor components for CANDU reactors at facilities in Port

Hope and Cobourg, Ontario.