Extractive Sector Transparency Measures Act - Annual Report

Reporting Year

From:

1/1/2019

To:

12/31/2019

CAD

Reporting Entity Name

Cameco Corporation

Currency of the Report

Reporting Entity ESTMA

E886600

Identification Number

Subsidiary Reporting Entities (if

necessary)

Payments by Payee

Departments, Agency, etc…

Infrastructure

Total Amount paid to

Country

Payee Name1

within Payee that Received

Taxes

Royalties

Fees

Production Entitlements

Bonuses

Dividends

Notes34

Payments2

Improvement Payments

Payee

Canada Revenue Agency,

Canada

national government of

Canadian Nuclear Safety

1,100,000

3,770,000

4,870,000

Payments for income taxes, regulatory oversight, and radio

Canada

Commission (CNSC), Industry

licenses

Canada, Environment Canada

Ministry of Economy, Ministry of

Finance, Ministry of Government

30,040,000

Payments for property taxes, royalties, highway maintenance,

Canada -Saskatchewan

the province of Saskatchewan

Relations, Ministry of

7,560,000

20,310,000

2,170,000

and regulatory oversight

Environment, Ministry of

Highways & Infrastructure

Payments to the trust are attributed to Black Lake Denesuline

First Nation, Fond du Lac Denesuline First Nation, Hatchet

Canada -Saskatchewan

Athabasca Community Trust

1,580,000

1,580,000

Lake Denesuline First Nation, northern hamlet of Stony

Rapids, northern settlement of Wollaston Lake, northern

settlement of Uranium City, and northern settlement of Camsell

Portage.

Payments are comprised of contributions stipulated in

Canada -Saskatchewan

English River First Nation

1,580,000

1,580,000

collaboration agreements with the community. These include

payments directly to the community and to a community-

owned contractor.

Canada -Saskatchewan

Lac La Ronge Indian Band

200,000

200,000

Payments based on the collaboration agreement, including

Community Trust

funding for education and community liaison.

Payments are comprised of contributions stipulated in

Canada -Saskatchewan

northern village of Pinehouse

1,080,000

1,080,000

collaboration agreements with the community. These include

payments directly to the community and to a community-

owned contractor.

100,000

Trust fund to benefit indigenous communities in Northern

Canada -Saskatchewan

Six Rivers Fund

100,000

Saskatchewan. Money is granted to projects to support youth,

education, health & wellness, and sports & recreaction.

Canada -Saskatchewan

Southend and Kinoosao First

770,000

770,000

Payments based on the participation agreement, including

Nation

community investment funding and business development.

United States of America

national government of United

Nuclear Regulatory Commission,

870,000

870,000

Transaction occurred in USD$, converted to CAD$ at the

States of America

Bureau of Land Management,

exchange rate existing at time of payments (Avg. $1.29

Department of Agriculture

CAD/USD)

Extractive Sector Transparency Measures Act - Annual Report

Reporting Year

From:

1/1/2019

To:

12/31/2019

CAD

Reporting Entity Name

Cameco Corporation

Currency of the Report

Reporting Entity ESTMA

E886600

Identification Number

Subsidiary Reporting Entities (if

necessary)

Payments by Payee

Departments, Agency, etc…

Infrastructure

Total Amount paid to

Country

Payee Name1

within Payee that Received

Taxes

Royalties

Fees

Production Entitlements

Bonuses

Dividends

Notes34

Payments2

Improvement Payments

Payee

Department of Environmental

Transaction occurred in USD$, converted to CAD$ at the

Quality,Office of State Lands and

United States of America

the state of Wyoming

190,000

190,000 exchange rate existing at time of payments (Avg. $1.30

Investments, Department of

CAD/USD)

Revenue, Secretary of State

Department of Environmental

Transaction occurred in USD$, converted to CAD$ at the

Quality, Board of Education,

United States of America

the state of Nebraska

160,000

160,000 exchange rate existing at time of payments (Avg. $1.29

Department of Health & Human

CAD/USD)

Services

the municipality of Campbell

Transaction occurred in USD$, converted to CAD$ at the

United States of America

380,000

380,000 exchange rate existing at time of payments (Avg. $1.28

County

CAD/USD)

the municipality of Converse

Transaction occurred in USD$, converted to CAD$ at the

United States of America

850,000

850,000 exchange rate existing at time of payments (Avg. $1.28

County

CAD/USD)

the municipality of Dawes

Transaction occurred in USD$, converted to CAD$ at the

United States of America

220,000

220,000 exchange rate existing at time of payments (Avg. $1.28

County

CAD/USD)

Australia

Government of Western

Department of Mines & Petroleum

180,000

180,000

Transaction occurred in AUD$, converted to CAD$ at the

Australia

exchange rate existing at time of payments ($0.96 CAD/AUD)

As required by Canada's Extractive Sector Transparency Measures Act (ESTMA), Cameco has reported to the Canadian government payments made to governments in Canada, the United States, and Australia. These payments include royalties, taxes and fees paid during a year by Cameco and its subsidiaries to various levels of government related to commercial development.

Additional Notes:Under ESTMA commercial development captures the exploration and extraction of minerals and does not include post-extraction activities, such as refining, processing, marketing, distribution, transportation or export. With the exception of payments made to Indigenous Payees, the amounts reported are on a 100% basis with no adjustment to reflect the minority ownership interest of other entities in the commercial development of minerals undertaken by Cameco and its subsidiaries. Payments made to Indigenous Payees in Canada are reported at Cameco's share.

Extractive Sector Transparency Measures Act - Annual Report

Reporting Year

From:

1/1/2019

To:

12/31/2019

CAD

Reporting Entity Name

Cameco Corporation

Currency of the Report

Reporting Entity ESTMA

E886600

Identification Number

Subsidiary Reporting Entities (if

necessary)

Payments by Project

Country

Project Name1

Taxes

Royalties

Fees

Production Entitlements

Bonuses

Dividends

Infrastructure

Total Amount paid by

Notes23

Improvement Payments

Project

Canada -Saskatchewan

Cameco Corporation

1,100,000

20,310,000

5,870,000

27,280,000

corporate income tax payments, royalties & colloboration

agreements that are not assigned/attributed to a specific project

Canada -Saskatchewan

Key Lake

1,410,000

2,040,000

3,450,000

property taxes & regulatory fees

(100% of payments reported, Cameco ownership 83.3%)

Canada -Saskatchewan

McArthur River

910,000

1,060,000

1,970,000

property taxes & regulatory fees

(100% of payments reported, Cameco ownership 69.8%)

Canada -Saskatchewan

Cigar Lake

4,610,000

1,400,000

6,010,000

property taxes & regulatory fees

(100% of payments reported, Cameco ownership 50.0%)

Canada -Saskatchewan

Rabbit Lake

620,000

790,000

1,410,000

property taxes & regulatory fees

Canada -Saskatchewan

Exploration

140,000

140,000

Claim staking and maintenance fees

United States of America

Crow Butte Resources

220,000

350,000

570,000

Transaction occurred in USD$, converted to CAD$ at the

exchange rate existing at time of payment (Avg. $1.29 CAD/USD)

United States of America

Power Resources Inc

1,240,000

920,000

2,160,000

Transaction occurred in USD$, converted to CAD$ at the

exchange rate existing at time of payment (Avg. $1.29 CAD/USD)

Australia

Cameco Australia

180,000

180,000

Transaction occurred in AUD$, converted to CAD$ at the

exchange rate existing at time of payment (Avg. $0.97 CAD/AUD)

As required by Canada's Extractive Sector Transparency Measures Act (ESTMA), Cameco has reported to the Canadian government payments made to governments in Canada, the United States, and Australia. These payments include royalties, taxes and fees paid during a year by Cameco and its subsidiaries to various levels of government related to

Additional Notes3:commercial development. Under ESTMA commercial development captures the exploration and extraction of minerals and does not include post-extraction activities, such as refining, processing, marketing, distribution, transportation or export. With the exception of payments made to Indigenous Payees, the amounts reported are on a 100% basis with no adjustment to reflect the minority ownership interest of other entities in the commercial development of minerals undertaken by Cameco and its subsidiaries. Payments made to Indigenous Payees in Canada are reported at Cameco's share.

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Cameco Corporation published this content on 28 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 September 2020 19:49:07 UTC