CAMECO CORP
For the period ended Dec 31, 2025. Filed Mar 19, 2026.
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The yearly report of certain Canadian companies, filed under a joint US and Canadian system. It is the main yearly account these companies give US investors, largely as filed in Canada.
FY2025 · Filed Mar 19, 2026
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EX-99.3 · Purchase commitments
Purchase commitments
We make purchases under long-term contracts where it is beneficial for us to do so and to support our long-term contract portfolio. The following table is based on our purchase commitments in our uranium and fuel services segments at December 31, 20252, but does not include purchases of our share of Inkai production. These commitments include a mix of fixed-price and market-related contracts. Actual payments will be different as a result of changes to our purchase commitments and, in the case of contracts with market-related pricing, the market prices in effect at the time of delivery. We will update this table as required in our MD&A to reflect material changes to our purchase commitments and changes in the prices used to estimate our commitments under market-related contracts.
| 2027 AND · 2029 AND · 2031 AND | |||||
|---|---|---|---|---|---|
| DECEMBER 31, 2025 ($ MILLIONS) | 2026 | 2028 | 2030 | BEYOND | TOTAL |
| Purchase commitments1,2 | 162 | 97 | — | — | 259 |
| 1 | Denominated in US dollars and Japanese yen, converted from US dollars to Canadian dollars at the rate of 1.33 and from Japanese yen to Canadian dollars at the rate of $0.01. |
| 2 | These amounts have been adjusted for any additional purchase commitments that we have entered into since December 31, 2025, but does not include deliveries taken under contract since December 31, 2025. |
We have commitments of $259 million for approximately 4.3 million pounds of U 3 O 8 equivalent from 2026 to 2028. The suppliers do not have the right to terminate agreements other than pursuant to customary events of default provisions.
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