Cameco Corporation (CCO:CA) Goldman Sachs Energy, CleanTech & Utilities Conference January 7, 2026 10:55 AM EST

Company Participants

Grant Isaac - President & COO

Conference Call Participants

Brian Lee - Goldman Sachs Group, Inc., Research Division

Presentation

Brian Lee Goldman Sachs Group, Inc., Research Division

All right. Thanks, everyone, for joining. We’re going to get started here. This next session is going to be a treat. I’m looking forward to this. I want to welcome to the stage, President and Chief Operating Officer of Cameco, Grant Isaac. We got a lot to talk about in terms of the nuclear ecosystem, especially on the heels of Secretary Wright’s comments. I think there’s a lot of optimism, anticipation, maybe capital to talk about in terms of the implications for the sector.

Question-and-Answer Session

Brian Lee Goldman Sachs Group, Inc., Research Division

But maybe just big picture, I wanted to start, Grant, with 2025 was clearly eventful for both Cameco as well as the overall nuclear industry. So what would you say stood out as some of the most needle-moving events, whether at the macro and policy level and then also clearly, the company-specific milestones, what are you most proud of from last year?

Grant Isaac President & COO

Yes, it’s a great place to start. Thank you, and thanks to everybody for giving us some time today. 2025 was a big year in the nuclear industry, and it was just actually a continuation of several big years. And I would just summarize it by actually echoing some of Brian’s line in the past. Nuclear went from being part of – well, first of all, being in the wilderness post Fukushima, then it became part of the climate security solution and then Russia invaded Ukraine and people realize it actually is a key part of the energy security solution.