CAMECO CORP

For the period ended Oct 30, 2026. Filed Oct 30, 2026.

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Oct 30, 2026 · Filed Oct 30, 2026

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Contents

EX-99.1 · Selected segment highlights

Selected segment highlights

HIGHLIGHTS · THREE MONTHS ENDEDSEPTEMBER 30 · NINE MONTHS ENDEDSEPTEMBER 30
($ MILLIONS EXCEPT WHERE INDICATED) · 2026 · 2025 · CHANGE · 2026 · 2025 · CHANGE
Uranium	Production volume (million lb)			3.5	4.4	(20)%	13.6	15.0	(9)%
	Sales volume (million lb)			5.6	6.1	(8)%	20.5	21.8	(6)%
	Average realized price1	(US$/lb	)	65.78	62.12	6%	66.64	60.35	10%
		($/lb	)	91.76	85.22	8%	92.05	84.79	9%
	Revenue			518	523	(1)%	1,888	1,847	2%
	Gross profit			111	158	(30)%	527	578	(9)%
	Earnings before income taxes			175	172	2%	703	681	3%
	Adjusted EBITDA2			179	220	(19)%	855	862	(1)%
Fuel services	Production volume (million kgU)			3.2	3.1	3%	9.5	10.2	(7)%
	Sales volume (million kgU)			2.2	1.9	16%	8.6	8.6	>100%
	Average realized price 3	($Cdn/kgU	)	42.90	49.11	(13)%	44.18	44.91	(2)%
	Revenue			95	91	4%	381	388	(2)%
	Earnings before income taxes			13	17	(24)%	87	129	(33)%
	Adjusted EBITDA2			24	25	(4)%	120	158	(24)%
	Adjusted EBITDA margin (%)2			25	27	(7)%	31	41	(24)%
(our share)	Depreciation and amortization			99	94	5%	291	285	2%
	Adjusted EBITDA2			143	124	15%	427	569	(25)%

1	Uranium average realized price is calculated as the revenue from sales of uranium concentrate, transportation and storage fees divided by the volume of uranium concentrates sold.

2	Non-IFRS measure, see page 5.

3	Fuel services average realized price is calculated as revenue from the sale of conversion and fabrication services, including fuel bundles and reactor components, transportation and storage fees divided by the volumes sold.

The table below shows the costs of produced and purchased uranium incurred in the reporting periods (seenon-IFRS measures starting on page 5). These costs do not include care and maintenance costs, maintenance and operational outage costs, selling costs such as royalties, transportation and commissions, nor do they reflect the impact of opening inventories on our reported cost of sales.

	THREE MONTHS ENDEDSEPTEMBER 30			NINE MONTHS ENDEDSEPTEMBER 30
($/LB)	2026	2025	CHANGE	2026	2025	CHANGE
Produced
Cash cost	40.73	25.20	62%	29.70	24.39	22%
Non-cash cost	16.67	11.16	49%	12.47	10.98	14%
Total production cost 1	57.40	36.36	58%	42.17	35.37	19%
Quantity produced (million lb)1	3.5	4.4	(20)%	13.6	15.0	(9)%
Purchased
Cash cost	83.78	82.51	2%	89.29	94.04	(5)%
Quantity purchased (million lb)1,2	1.8	1.4	29%	4.9	3.3	48%
Totals
Produced and purchased costs	66.36	47.50	40%	54.65	45.95	19%
Quantities produced and purchased (million lb)	5.3	5.8	(9)%	18.5	18.3	1%

Due to equity accounting, our share of production from JV Inkai is shown as a purchase at the time of delivery. These purchases will fluctuate during the quarters and timing of purchases will not match production. There were no purchases from JV Inkai during the third quarter. In the first nine months of 2026, we purchased 800,000 pounds and had weight adjustments from prior year deliveries for approximately 200,000 pounds for a total of 1 million pounds at a purchase price per pound of $111.83 (US$81.45).

2	In the third quarter and for the first nine months of 2025, we purchased 100,000 pounds at a purchase price per pound of $100.81 (US$73.05).

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