Ms. Rachelle Girard reports

CAMECO AND BROOKFIELD RECEIVE REGULATORY APPROVAL TO ACQUIRE WESTINGHOUSE

Cameco Corp.'s joint acquisition of Westinghouse Electric Company with Brookfield Asset Management alongside its publicly listed affiliate Brookfield Renewable Partners and institutional partners has now received all required regulatory approvals. Cameco anticipates the transaction will close on or about Nov. 7, subject to the satisfaction of all other customary closing conditions.

Cameco plans to finance its share of the acquisition utilizing the full amount of its $600-million (U.S.) term loan, which will be drawn down at closing, along with available cash. Cameco will not be utilizing the $280-million (U.S.) bridge commitment that it secured concurrently with the acquisition agreement, and that commitment will be terminated.

The joint acquisition was previously announced on Oct. 11, 2022.

About Cameco Corp.

Cameco is one of the largest global providers of the uranium fuel needed to energize a clean-air world. Its 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 Cameco's nuclear fuel products to generate safe, reliable, carbon-free nuclear power. Cameco's shares trade on the Toronto and New York stock exchanges. Its head office is in Saskatoon, Sask., Canada.

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