CCJ · Cameco Corporation

Cameco provided an operational update on May 10, 2026, regarding flooding in northern Saskatchewan that has impacted roadways. While the company's northern Saskatchewan sites are not directly flooded, the collapse of the Smoothstone River Bridge on the primary supply route to the McArthur River and Key Lake sites has forced a temporary halt in production at the Key Lake mill and reduced activity at the McArthur River mine. The Cigar Lake mine continues to operate normally. The company is working with the Saskatchewan Ministry of Highways and site teams to minimize disruptions, but the timeline for resuming normal deliveries of critical operating materials is unknown. As a result, there is a risk to the 2026 production outlook for the McArthur River/Key Lake operation if the road restrictions persist. The consolidated annual production plan remains unchanged at this time. This event is material as it directly impacts a key production hub for one of the world's largest uranium producers, potentially affecting supply and costs.