Measuring Our Results

There is no finish line when it comes to delivering on our strategic goals. We have a long-term commitment to constantly measure, evaluate and improve.

Each year, we set corporate objectives that are aligned with our strategic plan. These objectives fall under our four measures of success, and performance against specific targets under these objectives forms the foundation for a portion of annual employee and executive compensation. See our most recent management proxy circular for more information on how executive compensation is determined.

Outstanding financial performance

2014 Objectives ¹	Results
Earnings measures Achieve targeted adjusted net earnings and cash flow from operations.	Exceeded adjusted net earnings was higher than the target cash flow from operations was higher than the target
Capital management measures Execute capital projects within scope, on time and on budget.	Substantially Achieved the cost performance indicator was above the target level (under budget) the schedule performance indicator was below the threshold (behind schedule)
Cigar Lake Achieve Jet Boring System (JBS) mining cycle times at Cigar Lake.	Exceeded average JBS cycle times were better than targeted

Safe, healthy and rewarding workplace

2014 Objectives ¹	Results
Workplace safety Strive for no injuries at all Cameco-operated sites and maintain a long-term downward trend in combined employee and contractor injury frequency and severity, and radiation doses.	Achieved met our targeted safety measures injury rates trended downward across the company and met targets for the year average radiation doses remained low and stable
Rewarding workplace Attract and retain the employees.	Substantially Achieved overall turnover rate was better than target (lower turnover) turnover rate for new hires during the first year of employment was higher than the target (higher turnover)

Clean environment

2014 Objectives ¹	Results
Improve environmental performance Achieve a decreasing trend for environmental incidents.	Achieved there were no significant environmental incidents in 2014 reportable environmental incidents were within the range of targeted performance

Supportive communities

2014 Objectives ¹	Results
¹ Detailed results for our 2014 corporate objectives and the related targets will be provided in our 2015 management proxy circular prior to our Annual Meeting of Shareholders on May 22, 2015.
Build stakeholder support Meet our business development obligations under our Collaboration Agreements.	Substantially Achieved site utilization of labour services in our Collaboration Agreements with stakeholder communities was below the target our environmental waste management scoping study was completed by the target date

2015 objectives

Outstanding financial performance

Achieve targeted adjusted net earnings and cash flow from operations.
Achieve capital project management targets and continue to ramp up production at Cigar Lake.

Safe, healthy and rewarding workplace

Improve workplace safety performance at all sites.
Attract and retain the employees needed to support operations and growth.

Clean environment

Improve environmental performance at all sites.

Supportive communities

Build and sustain strong stakeholder support for our activities.