Cameco (CCO) Bernstein 42nd Annual Strategic Decisions Conference summary

Conference overview

• The session featured a fireside chat with the President and COO, focusing on nuclear industry trends and company strategy.

• Audience engagement was encouraged through interactive Q&A, highlighting transparency and responsiveness.

Industry positioning and strategy

• The company operates across the nuclear value chain, from exploration to fuel fabrication and reactor services, with significant assets in uranium mining and processing.

• Holds a major stake in Westinghouse, providing fuel and services to a large portion of Western reactors.

• Sees long-term demand growth from gigawatt-scale reactor builds, especially in Western markets.

• Anticipates future pricing power due to long-term contracts and rising uranium prices.

Market and geopolitical context

• Current energy security concerns, driven by geopolitical crises, are reinforcing the importance of nuclear power.

• Nuclear is increasingly linked to national security and the growing demand for reliable, carbon-free electricity, especially for AI and data centers.