CAMECO CORP SEC Filings

Cameco Corporation announced that its Cigar Lake uranium mine in northern Saskatchewan has resumed production after a temporary suspension caused by challenges at Orano’s McClean Lake mill, where Cigar Lake ore is processed. The McClean Lake mill has also returned to operation, and Cigar Lake is again shipping stockpiled ore and producing.

The company stated that its 2026 production outlook for Cigar Lake remains unchanged at a range of 17.5 million to 18.0 million pounds of U3O8 on a 100% basis. Cameco noted that this outlook could be affected by any future suspension of operations at Cigar Lake or other adverse production impacts, and directed readers to its annual information form and management’s discussion and analysis for further risk details.

Cameco Corporation has increased its ownership in the Cigar Lake uranium mine in northern Saskatchewan following the closing of a previously announced transaction involving TEPCO Resources Inc.’s 5% participating interest in the Cigar Lake Joint Venture. Cameco’s stake in the mine has risen by 2.871 percentage points to 57.418%, while joint venture partner Orano Canada Inc.’s interest has increased by 2.129 percentage points to 42.582%. Cigar Lake is one of Cameco’s key high-grade uranium assets and supports its position as a major global provider of uranium fuel for carbon-free nuclear power generation.

Cameco Corporation has temporarily suspended mining at its Cigar Lake uranium mine in northern Saskatchewan because of operational challenges at Orano’s McClean Lake mill, where Cigar Lake ore is processed. The mill’s sulfuric acid plant has shut down for repairs, and Orano is working both on repairs and on alternative acid supply.

Cameco currently expects the McClean Lake mill to resume operations in approximately two weeks and does not expect this disruption to affect its 2026 production outlook for Cigar Lake. However, the company warns that longer-than-expected repairs or difficulties sourcing sulfuric acid could delay the restart and potentially impact the 2026 production outlook.

Cameco Corporation has released its 2025 Sustainability Report, outlining how it manages environmental impacts, worker safety, social programs, economic contributions, and governance practices. The report highlights initiatives and key metrics that demonstrate progress and a goal of continually advancing sustainability reporting.

Cameco aligns its disclosure with Sustainability Accounting Standards Board indicators, continues integrating Task Force on Climate-Related Financial Disclosures recommendations, and includes additional indicators, some based on the GRI Standards framework. The board of directors and executive team oversee sustainability strategy and reporting, and selected indicators have third-party limited assurance.

Cameco Corporation highlights a conditional commitment from the US Department of Energy’s Office of Energy Dominance Financing for an American Nuclear Supply Chain Loans package of up to US$17.5 billion. The funding is intended to support Westinghouse’s purchase of long-lead items for up to 10 AP1000 nuclear reactors in the United States.

The loan structure is expected to use a Westinghouse special purpose vehicle and up to five project funding vehicles, with each project requiring about $500 million of equity from both the SPV and the approved partner, or $1 billion per project, before accessing DOE funds. Cameco notes this could accelerate growth in Westinghouse’s energy systems segment but stresses that definitive agreements, approvals, and multiple technical, legal, environmental, and financial conditions must be satisfied, with no assurance the loan package will be completed.

Cameco Corporation is increasing its ownership stake in the Cigar Lake uranium mine by acquiring part of TEPCO Resources Inc.’s 5% joint-venture interest for approximately $115.75 million, subject to customary closing adjustments and regulatory approvals. Upon closing, Cameco’s interest will rise by 2.871 percentage points to 57.418%, while Orano Canada Inc.’s stake will increase to 42.582%. Cigar Lake is described as a high-grade, safe and cost-effective uranium operation with proven and probable reserves of 172.4 million pounds of U3O8 and additional measured, indicated and inferred resources as of December 31, 2025. Since starting production in 2014, it has produced about 174.5 million packaged pounds, and 2026 production is expected between 17.5 million and 18 million pounds on a 100% basis. Cameco plans to maintain production in the current CLMain area and advance CLExt development work to extend mine life to 2036, with capital projects aligned to its disciplined contracting, operational and capital allocation strategy.

Cameco Corporation reports that the McArthur River mine and Key Lake mill in northern Saskatchewan have resumed full production after a temporary disruption caused by flooding-related transportation issues. Despite the logistics challenge, the company’s 2026 production plan for this operation has not changed.

Cameco’s consolidated 2026 production outlook remains at 19.5 million to 21.5 million pounds of U3O8 (its share). Management notes ongoing seasonal risks from spring thawing and precipitation that could again restrict roads and delay delivery of critical operating materials, but current operations, including the Cigar Lake mine, are continuing.

Cameco Corporation reported an operational update for its northern Saskatchewan sites following regional flooding that has damaged transportation routes. Flooding caused the collapse of the Smoothstone River Bridge on the primary supply route to the McArthur River mine and Key Lake mill, and restrictions exist on an alternative road.

As a result, Cameco has temporarily halted production activities at the Key Lake mill and reduced activity at the McArthur River mine until normal deliveries of critical operating materials can resume, with the timing currently unknown. The Cigar Lake mine continues to operate, and the company’s consolidated annual production plan remains unchanged, although Cameco notes a risk that its 2026 production outlook for the McArthur River/Key Lake operation could be affected depending on the duration of road restrictions and delivery capabilities.

Cameco Corporation reported the results of its May 7, 2026 annual meeting. Shareholders elected nine directors – Tammy Cook-Searson, Catherine Gignac, Tim Gitzel, Marie Inkster, Kathryn Jackson, Don Kayne, Peter Kukielski, Dominique Minière and Leontine van Leeuwen-Atkins – with strong support. After applying the 25% non-resident shareholder voting restriction, support for each director ranged from 98.13% to 99.78% of votes cast.

Shareholders also approved the appointment of KPMG LLP as auditors, with 93.17% of votes for after the non-resident vote reduction. An advisory resolution on Cameco’s executive compensation approach passed as well, receiving 98.63% of votes cast in favour after applying the same 25% cap.