Cameco and Brookfield Set up Transformational Partnership With United States Authorities to Speed up Deployment of Westinghouse Nuclear Reactors

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Ahead Trying Data

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This information launch contains statements and details about Cameco’s expectations for the longer term, which we confer with as forward-looking data. Ahead-looking data is data that isn’t a historic truth. Phrases similar to “steerage,” “count on,” “will,” “could,” “anticipate,” “plan,” “estimate,” “undertaking,” “intend,” “ought to,” “can,” “probably,” “might,” “outlook” and comparable expressions are meant to determine forward-looking data. Ahead-looking data relies on Cameco’s present views, which may change considerably, and precise outcomes and occasions could also be considerably totally different from what we at present count on. Examples of forward-looking data on this information launch embrace: expectations concerning the acceleration of the worldwide deployment of Westinghouse’s nuclear reactor applied sciences and reinvigoration of provide chains and the nuclear energy industrial base within the US and overseas; expectations concerning the technology by the reactors of dependable and safe energy for the American grid, together with for knowledge heart and compute capability; expectations concerning the US Authorities’s participation within the strategic partnership as a driver of extra worth, together with with respect to enhanced power, nationwide and local weather safety world wide; expectations concerning elevated demand for Westinghouse’s and Cameco’s merchandise; Cameco’s capability to gasoline the long-term dependable operation of Westinghouse’s expertise within the US and globally; expectations concerning the impression of the launch of a nuclear energy plant building program on the acceleration of development in Westinghouse’s power programs phase, core gasoline fabrication and reactor providers enterprise; expectations concerning Westinghouse’s deliberate graduation of undertaking execution; the anticipated acceleration of nuclear gasoline demand development on account of the strategic partnership; expectations in regards to the deliberate quantity of funding within the building of nuclear energy reactors in america utilizing Westinghouse nuclear expertise; and expectations concerning the revenue sharing mechanism concerned within the strategic partnership and participation therein.

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Materials dangers that would result in totally different outcomes embrace: dangers associated to growing and deploying the Westinghouse nuclear reactors; the anticipated timing of the strategic partnership, together with any failure to acquire the required governmental clearances or third occasion consents required to shut the strategic partnership or implement the revenue sharing mechanism or the imposition of fabric circumstances as part of acquiring such clearances or consents and any failure of some other circumstances to the strategic partnership or the implementation of the revenue sharing mechanism; the lack of Westinghouse and the US Authorities to enter into definitive agreements referring to the strategic transaction or to impact their future obligations associated to the transactions contemplated by the strategic partnership; the potential reliance on unrelated third events for the position of orders or different obligations associated to the development and deployment of the Westinghouse nuclear reactors; the potential reliance by the US authorities on unconventional funding mechanisms to impact any future commitments to buy Westinghouse nuclear reactor expertise; the provision of presidency funding and help for the transactions contemplated by the strategic partnership, together with the flexibility of the chief department of the US Authorities to acquire funding and help by way of the appropriations course of or from different sources; the provision of extra or substitute funding for the nuclear reactor initiatives and operations, if wanted; following the execution of definitive transaction paperwork by the events, the dedication by the legislative, judicial or govt branches of the federal or any state authorities that any future funding commitments or different side of the transactions contemplated by the strategic partnership was or is just not in compliance with legislation; the monetary, tax and accounting evaluation and remedy of the varied obligations and commitments below the strategic partnership documentation, as soon as executed; the continued demand for nuclear power and the markets for nuclear power extra typically; future demand for nuclear power; litigation, Congressional investigations, or investigations by different US or non-US authorities, associated to the strategic transaction or in any other case; challenges related to figuring out alternate areas, gross sales channels and prospects for the extremely specialised nuclear merchandise contemplated by the strategic transactions ought to the strategic partnership be altered or terminated; Cameco’s capability to successfully understand the anticipated advantages of the strategic transaction; the events’ capability to adjust to the broader authorized and regulatory necessities and heightened scrutiny related to authorities partnerships and contracts; adjustments in power, synthetic intelligence and different insurance policies and priorities in US and international governments; fluctuations, variations and uncertainty in demand and pricing out there for nuclear power and synthetic intelligence; potential hostile reactions or adjustments to enterprise relationships ensuing from the announcement, negotiation or execution of the strategic transaction; the complexities and uncertainties in growing and implementing new nuclear initiatives; macroeconomic circumstances and geopolitical tensions and conflicts; dangers related to Westinghouse’s advanced provide chain supporting its nuclear reactors, together with from disruptions, delays, commerce tensions and conflicts or shortages; volatility and uncertainty with respect to worldwide commerce insurance policies; dangers associated to the event and use of the Westinghouse nuclear reactors, together with product defects; potential safety vulnerabilities within the Westinghouse nuclear reactors; and the chance of disputes between the events to the strategic transaction.

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In presenting the forward-looking data, Cameco has made materials assumptions which can show incorrect about: the success of the Westinghouse nuclear reactor expertise and Westinghouse’s capability to assemble and start industrial operations at new large-scale nuclear energy vegetation; the flexibility of Westinghouse and the US Authorities to enter into definitive agreements to impact their future obligations associated to the transactions contemplated by the strategic partnership, together with with respect to commitments to buy Westinghouse nuclear reactor expertise and to impact the revenue sharing mechanic; the provision of presidency funding and help for the transactions contemplated by the strategic partnership, together with any future commitments to buy Westinghouse nuclear reactor expertise; the provision of extra or substitute funding for the nuclear reactor initiatives and operations, if wanted; the monetary, tax and accounting evaluation and remedy of the varied obligations and commitments below the strategic partnership documentation the continued demand for nuclear power, and the expansion of the markets for nuclear power extra typically; future demand for nuclear power; the estimates and forecasts of Cameco’s money place, outcomes of operations and different monetary and operational efficiency metrics; Westinghouse’s capability to make distributions to its companions; Westinghouse’s capability to mitigate working dangers and any disruptions, delays, commerce tensions, conflicts or shortages; that there won’t be any important hostile penalties to the strategic partnership ensuing from enterprise disruptions or financial or political uncertainty; that the events will adjust to their obligations below the strategic partnership; and that Westinghouse will preserve protections in opposition to legal responsibility for nuclear injury.

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Please additionally assessment the dialogue in Cameco’s 2024 annual MD&A, 2025 second quarter MD&A and most up-to-date annual data kind for different materials dangers that would trigger precise outcomes to vary considerably from Cameco’s present expectations, and different materials assumptions we now have made. We won’t essentially replace this data until we’re required to by securities legal guidelines.

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Profile

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Cameco is likely one of the largest international suppliers of the uranium gasoline wanted to energy a safe power future. Our aggressive place relies on our controlling possession of the world’s largest high-grade reserves and low-cost operations, in addition to important investments throughout the nuclear gasoline cycle, together with possession pursuits in Westinghouse Electrical Firm and International Laser Enrichment. Utilities world wide depend on Cameco to offer international nuclear gasoline options for the technology of secure, dependable, carbon-free nuclear energy. Our shares commerce on the Toronto and New York inventory exchanges. Our head workplace is in Saskatoon, Saskatchewan, Canada.

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As used on this information launch, the phrases we, us, our, the Firm and Cameco imply Cameco Company and its subsidiaries until in any other case indicated.

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