Mr. Cory Kos reports

CAMECO CLOSES DEAL TO INCREASE OWNERSHIP IN CIGAR LAKE MINE

The acquisition of Tepco Resources Inc.'s 5-per-cent participating interest in the Cigar Lake joint venture by Cameco Corp. and Orano Canada Inc. has closed.

Cameco's ownership stake in the Cigar Lake uranium mine in Northern Saskatchewan has increased by 2.871 percentage points to 57.418 per cent while Orano's share has risen by 2.129 percentage points to 42.582 per cent.

For more information regarding the transaction, please see Cameco's June 1, 2026, news release announcing the acquisition.

About Cameco Corp.

Cameco is one of the largest global providers of the uranium fuel needed to power a secure energy future. Its competitive position is based on its controlling ownership of the world's largest high-grade reserves and low-cost operations, as well as significant investments across the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities around the world rely on Cameco to provide global nuclear fuel solutions for the generation of safe, reliable, carbon-free nuclear power. Its shares trade on the Toronto and New York stock exchanges. Its head office is in Saskatoon, Sask., Canada.