annual/Cameco 2017 AGM
2017 Annual Meeting of Shareholders May 11, 2017
Executive Leadership
Sean Quinn Senior Vice-President, Chief Legal Officer and Corporate Secretary
Executive Leadership
Tim Gitzel President and Chief Executive Officer
Executive Leadership
Grant Isaac Senior Vice-President and Chief Financial Officer
Executive Leadership
Bob Steane Senior Vice-President and Chief Operating Officer
Executive Leadership
Alice Wong Senior Vice-President and Chief Corporate Officer
Chair’s Remarks
Voting Procedures
Meeting Business
Director Nominees
Director nominee
Ian Bruce Cameco board director since 2012 Independent
Calgary, Alberta, Canada
Director nominee
Daniel Camus Cameco board director since 2011 Independent
Geneva, Switzerland
Director nominee
John Clappison Cameco board director since 2006 Independent
Toronto, Ontario, Canada
Director nominee
Donald Deranger Cameco board director since 2009 Not independent
Prince Albert, Saskatchewan, Canada
Director nominee
Catherine Gignac Cameco board director since 2014 Independent
Mississauga, Ontario, Canada
Director nominee
Tim Gitzel President and CEO
Cameco board director since 2011 Not independent
Saskatoon, Saskatchewan, Canada
Director nominee
Jim Gowans Cameco board director since 2009 Independent
Vancouver, British Columbia, Canada
Director nominee
Kate Jackson Cameco board director since 2017 Independent
Sewickley, Pennsylvania, USA
Director nominee
Don Kayne Cameco board director since 2016 Independent
Vancouver, British Columbia, Canada
Director nominee
Anne McLellan Cameco board director since 2006 Independent
Edmonton, Alberta, Canada
Director nominee
Neil McMillan Chair of the board
Cameco board director since 2002 Independent
Saskatoon, Saskatchewan, Canada
Meeting Business
CEO’s Remarks
Lower for longer Spot Long-term
$140
US / lb U3O8
$120 $100 $80 $60 $40 $20 $0
68%
Jan 2011 – Today
Responding
to a tough market
Core strengths
31. $54.46
5million
lbs delivered
($Cdn)
average
realized price
5
% higher
production than projected
60
% higher
than average spot price
A balancing act
supply and demand discipline
Growing
Global demand expected to increase more than 50% by 2035
electricity demand
35,000
Non-OECD
Source: World Energy Outlook 2016, International Energy Agency
31,521
OECD
53%
30,000 TWh
25,000
20,557
20,000 15,000 10,000
10,092
13,199
5,710
5,000 0 1980
1990
2000
2014
2035
Future
growth
2
billion
people without electricity today
9
billion
projected population by 2050
The world needs reliable baseload electricity from low-carbon sources
China
leading the way Reactor growth 2010
100 80
2011
2012
2013
2014
2015
2016
2025
Operating Connected
60
Under construction
40
Expected new build
20
Expected by 2025 (86)
0
India an important market
22
reactors operating
5
under construction
Air pollution kills 1.1 million in India and more than 3 million people each year
More U = less C02
units under +10 new + in 2016 57 construction
Positioned
for future growth
• • •
an industry leader operate safely, responsibly and profitably strong community contributor
Questions?
[email protected] 2121 11th Street West Saskatoon, Saskatchewan S7M 1J3 www.cameco.com
Executive Leadership
Sean Quinn Senior Vice-President, Chief Legal Officer and Corporate Secretary
Executive Leadership
Tim Gitzel President and Chief Executive Officer
Executive Leadership
Grant Isaac Senior Vice-President and Chief Financial Officer
Executive Leadership
Bob Steane Senior Vice-President and Chief Operating Officer
Executive Leadership
Alice Wong Senior Vice-President and Chief Corporate Officer
Chair’s Remarks
Voting Procedures
Meeting Business
Director Nominees
Director nominee
Ian Bruce Cameco board director since 2012 Independent
Calgary, Alberta, Canada
Director nominee
Daniel Camus Cameco board director since 2011 Independent
Geneva, Switzerland
Director nominee
John Clappison Cameco board director since 2006 Independent
Toronto, Ontario, Canada
Director nominee
Donald Deranger Cameco board director since 2009 Not independent
Prince Albert, Saskatchewan, Canada
Director nominee
Catherine Gignac Cameco board director since 2014 Independent
Mississauga, Ontario, Canada
Director nominee
Tim Gitzel President and CEO
Cameco board director since 2011 Not independent
Saskatoon, Saskatchewan, Canada
Director nominee
Jim Gowans Cameco board director since 2009 Independent
Vancouver, British Columbia, Canada
Director nominee
Kate Jackson Cameco board director since 2017 Independent
Sewickley, Pennsylvania, USA
Director nominee
Don Kayne Cameco board director since 2016 Independent
Vancouver, British Columbia, Canada
Director nominee
Anne McLellan Cameco board director since 2006 Independent
Edmonton, Alberta, Canada
Director nominee
Neil McMillan Chair of the board
Cameco board director since 2002 Independent
Saskatoon, Saskatchewan, Canada
Meeting Business
CEO’s Remarks
Lower for longer Spot Long-term
$140
US / lb U3O8
$120 $100 $80 $60 $40 $20 $0
68%
Jan 2011 – Today
Responding
to a tough market
Core strengths
31. $54.46
5million
lbs delivered
($Cdn)
average
realized price
5
% higher
production than projected
60
% higher
than average spot price
A balancing act
supply and demand discipline
Growing
Global demand expected to increase more than 50% by 2035
electricity demand
35,000
Non-OECD
Source: World Energy Outlook 2016, International Energy Agency
31,521
OECD
53%
30,000 TWh
25,000
20,557
20,000 15,000 10,000
10,092
13,199
5,710
5,000 0 1980
1990
2000
2014
2035
Future
growth
2
billion
people without electricity today
9
billion
projected population by 2050
The world needs reliable baseload electricity from low-carbon sources
China
leading the way Reactor growth 2010
100 80
2011
2012
2013
2014
2015
2016
2025
Operating Connected
60
Under construction
40
Expected new build
20
Expected by 2025 (86)
0
India an important market
22
reactors operating
5
under construction
Air pollution kills 1.1 million in India and more than 3 million people each year
More U = less C02
units under +10 new + in 2016 57 construction
Positioned
for future growth
• • •
an industry leader operate safely, responsibly and profitably strong community contributor
Questions?
[email protected] 2121 11th Street West Saskatoon, Saskatchewan S7M 1J3 www.cameco.com
