Westinghouse resolves technology export dispute with Korean Companies
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Westinghouse resolves technology export dispute with Korean Companies
Saskatoon, Saskatchewan, Canada, January 16, 2025 . . . . . . . . . . . . .
Cameco (TSX: CCO; NYSE: CCJ) is pleased to announce and support the resolution reached by
Westinghouse Electric Company (Westinghouse) in its intellectual property dispute with Korea Electric
Power Corporation and Korea Hydro & Nuclear Power Co., Ltd., (collectively KEPCO and KHNP).
“This is a positive outcome for both parties, which we believe facilitates bringing world-leading reactor
technology and related competencies in engineering, construction services, maintenance, fuel supply, and
training to the global market,” said Tim Gitzel, Cameco’s President and Chief Executive Officer. “With
more than 30 countries and over 100 companies pledging to triple nuclear capacity by 2050, the demand
for nuclear power is undeniable. This agreement strengthens the industry’s ability to provide carbon-free,
reliable, dispatchable baseload electricity to help achieve climate, energy and national security
objectives.”
Implementation of the settlement agreement that resolves the dispute establishes a framework for
additional deployments to the mutual benefit of Westinghouse, KEPCO and KHNP.
Caution about forward-looking information
This news release includes statements and information about our expectations for the future, which we
refer to as forward-looking information. Forward-looking information is based on our current views,
which can change significantly, and actual results and events may be significantly different from what we
currently expect. Examples of forward-looking information in this news release include: our belief that
the resolution of the dispute will facilitate bringing technology and related competencies to the global
market; our views regarding the demand for nuclear power; our view that the agreement will strengthen
the industry’s ability to achieve certain objectives; and our expectation that implementation of the
agreement establishes a framework for mutually beneficial additional deployments. Material risks that
could lead to different results include the risk that the agreement will not have the expected implications
for the global market or strengthen the industry’s ability to achieve its objectives, and the risk that
additional mutually beneficial deployments may not occur. In presenting the forward-looking
information, we have made material assumptions which may prove incorrect about the implications of the
agreement for the global market and the industry’s ability to achieve its objectives, and the potential for
mutually beneficial additional deployments. Forward-looking information is designed to help you
understand management’s current views of our near-term and longer-term prospects, and it may not be
appropriate for other purposes. We will not necessarily update this information unless we are required to
by securities laws.
Profile
Cameco is one of the largest global providers of the uranium fuel needed to energize a clean-air world.
Our competitive position is based on our controlling ownership of the world’s largest high-grade reserves
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and low-cost operations, as well as significant investments across the nuclear fuel cycle, including
ownership interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities around the
world rely on Cameco to provide global nuclear fuel solutions for the generation of safe, reliable, carbon-
free nuclear power. Our shares trade on the Toronto and New York stock exchanges. Our head office is in
Saskatoon, Saskatchewan, Canada.
As used in this news release, the terms we, us, our, the Company and Cameco mean Cameco Corporation
and its subsidiaries unless otherwise indicated.
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