Cameco’s 2020 ESG Report Incorporates SASB Indicators and TCFD Recommendations - Seite 2

The ESG Report outlines how Cameco’s leadership sees the company contributing to global efforts to decarbonize. “As the world transitions to a low-carbon economy and the demand for clean, baseload electricity increases, we believe nuclear energy must play a significant role,” Gitzel said. “Cameco will be a constructive partner in the battle against climate change. Not only do we enable the vast emissions reductions that can be achieved through nuclear power, but we are also committed to transforming our own low GHG footprint in our ambition to reach net-zero emissions and achieve our vision of energizing a clean-air world.”

In addition to our efforts to reduce Cameco’s small GHG footprint, our key ESG goals are focused on the following eight areas:

Environment

• Tailings management
• Water

Social

• Indigenous and community relations
• Inclusion and diversity
• Workplace safety

Governance

• Board diversity
• Conduct and ethics
• Cybersecurity

Cameco’s board of directors and executive team oversee the company’s ESG strategy, execution and reporting. Today’s release marks an evolution in Cameco’s ESG approach. In addition to SASB and TCFD, the report provides key ESG performance indicator data based on the Global Reporting Initiative’s Sustainability Framework, as well as some unique corporate indicators to measure and report our performance in several environmental, social and governance areas we believe have a significant bearing on Cameco’s sustainability over the long term.

Profile

Cameco is one of the largest global providers of the uranium fuel needed to energize a clean-air world. Our competitive position is based on our controlling ownership of the world’s largest high-grade reserves and low-cost operations. Utilities around the world rely on our nuclear fuel products to generate power in safe, reliable, carbon-free nuclear reactors. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan.

Caution Regarding Forward-Looking Information and Statements

This news release includes statements considered to be forward-looking information or forward-looking statements under Canadian and U.S. securities laws (which we refer to as forward-looking information), including: our views on the transition to a low-carbon economy, the demand for clean electricity, and the role of nuclear energy; our expectations regarding Cameco’s role in combatting climate change; our target of reducing Cameco’s GHG footprint and ambition of reaching net-zero emissions; our key ESG goals; and our expectation that we will continue to progress in addressing TCFD recommendations. This forward-looking information is based on a number of assumptions, including assumptions regarding: carbon emission reduction, the demand for clean energy and the contribution that could be made by nuclear energy to reduce climate change; our assumption that our GHG footprint reduction target can be achieved; and our ability to advance our ESG goals and address TCFD recommendations. This information is subject to a number of risks, including: the risk that carbon reduction goals may not be achieved within the expected timeframe, if at all; the risk that the demand for clean electricity will not meet the level we expect, or that nuclear energy will not make the contribution to carbon reduction that we expect; the risk that we may not be successful in achieving our GHG footprint reduction and carbon emission goals; and the risk that we will face unexpected challenges or delays in advancing our ESG goals or addressing TCFD recommendations. The forward-looking information in this news release represents our current views, and actual results may differ significantly. Forward-looking information is designed to help you understand our current views, and may not be appropriate for other purposes. We will not necessarily update this information unless we are required to by securities laws.