Measuring Our Results

Targets and Metrics: The link between sustainability factors and executive pay

Each year, we set corporate objectives that are aligned with our strategic plan. These objectives fall under our four measures of success: outstanding financial performance, safe, healthy and rewarding workplace, clean environment and supportive communities. 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

2023 Objectives
Earnings measures	Results
Achieve targeted adjusted net earnings	adjusted net earnings was above target
Cash flow measures
Achieve cash flow from operations (before working capital changes)	cash flow from operations was below target

Safe, healthy and rewarding workplace

2023 Objectives
Workplace safety measure	Results
Strive for no injuries at all Cameco-operated sites. Maintain a long-term downward trend in combined employee and contractor total recordable injury rate while achieving targets on specified leading indicators.	we did not achieve our target for TRIR performance of the leading indicators was above the target range

Clean environment

2023 Objectives
Environmental performance measure	Results
Achieve corporate environmental targets. Develop tailored decarbonization pathways for operationally controlled sites.	performance on corporate environmental targets was within the target range completed decarbonization pathways for all operationally controlled sites

Supportive communities

2023 Objectives
Stakeholder support measure	Results
Enhance the skill set of Residents of Saskatchewan’s North (RSN) for changing industrial environments	RSN skill enhancement was above the target

Detailed results for our 2023 corporate objectives and the related targets will be provided in our 2024 management proxy circular prior to our Annual Meeting of Shareholders on May 9, 2024.

2024 Objectives

Outstanding financial performance

• Achieve targeted financial measures focused on controlling costs and generating cash.

Safe, healthy and rewarding workplace

• Improve workplace safety performance at all sites.

Clean environment

• Improve environmental performance at all sites and continue to execute on our Low Carbon Transition Plan.

Supportive communities

• Build and sustain strong stakeholder support for our activities.