Mr. Tim Gitzel reports

CAMECO MOURNS LOSS OF LONG-TIME BOARD CHAIR IAN BRUCE

Cameco Corp. is mourning the accidental passing of its long-standing board member and board chair Ian Bruce on Sunday, Oct. 15, at his cottage in Ontario.

"We are heartbroken with this tragic loss of a dear friend and valued colleague. I have worked with Ian since he joined our board more than a decade ago. He was a dedicated husband and father who was very proud of his family. We extend our deepest condolences to Ian's wife Darlene, their family, and their many friends and loved ones," said Tim Gitzel, president and chief executive officer of Cameco. "Ian was also proud to be part of the Cameco family and his business acumen and leadership were invaluable to our board."

Mr. Bruce first joined Cameco's board of directors in 2012 and became board chair in May, 2018, bringing over 30 years of experience in investment banking after serving as president and CEO of Peters & Co. Ltd. He also chaired the boards of MEG Energy Corp. and Qube Technologies Inc.

"Ian had a restless intellectual curiosity and was excited about the future of Cameco and nuclear energy. Ian's presence and contributions around the board table will be deeply missed," said Mr. Gitzel.

About Cameco Corp.

Cameco is one of the largest global providers of the uranium fuel needed to energize a clean-air world. The company's competitive position is based on its controlling ownership of the world's largest high-grade reserves and low-cost operations. Utilities around the world rely on the company's nuclear fuel products to generate safe, reliable, carbon-free nuclear power. The company's shares trade on the Toronto and New York stock exchanges. Cameco's head office is in Saskatoon, Sask., Canada.