Quarterly Report - 2015 - Q2

Summary Information

• Higher revenue and gross profit for the quarter and first six months
• Average realized uranium price outperforming spot and long-term market prices
• Strong uranium production for the quarter, maintaining annual production and sales targets

Cameco (TSX: CCO; NYSE: CCJ) today reported its consolidated financial and operating results for the second quarter ended June 30, 2015 in accordance with International Financial Reporting Standards (IFRS).

“The company continues to perform well,” said Tim Gitzel, president and CEO, “despite the tough market conditions.

“Despite some supply disruptions in the first half of the year, prices and demand remained ‘flat’ due to the current oversupply in the market. However, the long-term outlook for nuclear energy, underpinned by strong fundamentals, remains positive. With the long-term view in mind, we remain focused on keeping costs down and running our operations safely and efficiently to ensure we maintain the flexibility to respond to market conditions as they evolve.”