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

2015 Objectives ¹	Results
Earnings measures Achieve targeted adjusted net earnings and cash flow from operations.	Partially achieved adjusted net earnings were lower than the target cash flow from operations was higher than the target
Capital management measures Execute capital projects within the approved scope, cost and schedule.	Achieved cost performance was below the target level (under budget) project milestones were achieved on or ahead of schedule
Cigar Lake Achieve production target at Cigar Lake.	Exceeded production from Cigar Lake in 2015 was higher than the target

Safe, healthy and rewarding workplace

2015 Objectives ¹	Results
Workplace safety Strive for no injuries at all Cameco-operated sites. Maintain a long-term downward trend in combined employee and contractor injury frequency and severity, and radiation doses.	Partially achieved did not meet our targeted safety measures injury rates trended downward across the company, but fell short of targets for the year average radiation doses remained low and stable
Rewarding workplace Attract and retain the employees needed to support operations.	Substantially achieved overall voluntary 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

2015 Objectives ¹	Results
Improve environmental performance Achieve a decreasing trend for environmental incidents.	Achieved there were no significant environmental incidents in 2015 reportable environmental incidents were within the range of targeted performance

Supportive communities

2015 Objectives ¹	Results
¹ Detailed results for our 2015 corporate objectives and the related targets will be provided in our 2016 management proxy circular prior to our Annual Meeting of Shareholders on May 11, 2016.
Build and sustain stakeholder support Meet our business development obligations under our Collaboration Agreements.	Exceeded sourcing of northern services from northern Saskatchewan vendors was above the target sourcing of capital projects construction services from northern Saskatchewan vendors was above the target

2016 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.

Clean environment

Improve environmental performance at all sites.

Supportive communities

Build and sustain strong stakeholder support for our activities.