EXHIBIT 99.4

For fiscal years ended December 31, 2011 and December 31, 2010, KPMG LLP and its affiliates were paid by Cameco Corporation and its subsidiaries the following fees:



|                         |  |      |           |  |               |  |       |      |  |   |               |  |  |  |       |  
|------------------------ |  | ---- | --------- |  | ------------- |  | ----- | ---- |  | - | ------------- |  |  |  | ----- | -
|(Cdn$)                   |  | 2011 |           |  | % ofTotalFees |  |       | 2010 |  |   | % ofTotalFees | 
|Audit Fees:              |  |      |           |  |               |  |       |      |  |   |               |  |  |  |       |  
|Cameco                   |  | $    | 1,773,600 |  |               |  | 61.4  | %    |  | $ | 1,697,700     |  |  |  | 62.6  | %
|Subsidiaries             |  |      | 400,700   |  |               |  | 13.9  | %    |  |   | 256,200       |  |  |  | 9.5   | %
|                         |  |      |           |  |               |  |       |      |  |   |               |  |  |  |       |  
|Total Audit Fees         |  | $    | 2,174,300 |  |               |  | 75.3  | %    |  | $ | 1,953,900     |  |  |  | 72.1  | %
|Audit-Related Fees:      |  |      |           |  |               |  |       |      |  |   |               |  |  |  |       |  
|Translation services     |  |      |          |  |               |  |      |      |  | $ | 44,500        |  |  |  | 1.7   | %
|Accounting advisory      |  | $    | 195,100   |  |               |  | 6.8   | %    |  |   | 273,400       |  |  |  | 10.1  | %
|Pensions and other       |  |      | 21,000    |  |               |  | 0.7   | %    |  |   | 20,000        |  |  |  | 0.7   | %
|                         |  |      |           |  |               |  |       |      |  |   |               |  |  |  |       |  
|Total Audit-Related Fees |  | $    | 216,100   |  |               |  | 7.5   | %    |  | $ | 337,900       |  |  |  | 12.5  | %
|Tax Fees:                |  |      |           |  |               |  |       |      |  |   |               |  |  |  |       |  
|Compliance               |  | $    | 62,500    |  |               |  | 2.2   | %    |  | $ | 199,200       |  |  |  | 7.3   | %
|Planning and advice      |  |      | 433,400   |  |               |  | 15.0  | %    |  |   | 219,500       |  |  |  | 8.1   | %
|                         |  |      |           |  |               |  |       |      |  |   |               |  |  |  |       |  
|Total Tax Fees           |  | $    | 495,900   |  |               |  | 17.2  | %    |  | $ | 418,700       |  |  |  | 15.4  | %
|All Other Fees:          |  |      |          |  |               |  |      |      |  |   |              |  |  |  |      |  
|Total Fees:              |  | $    | 2,886,300 |  |               |  | 100.0 | %    |  | $ | 2,710,500     |  |  |  | 100.0 | %

Pre-Approval Policies and Procedures

As part of Cameco Corporations corporate governance practices, under its audit committee charter, the audit committee is required to pre-approve the audit and non-audit services performed by the
external auditors. The audit committee pre-approves the audit and non-audit services up to a maximum specified level of fees. If fees relating to audit and non-audit services are expected to exceed this level or if a type of audit or non-audit
service is to be performed that previously has not been pre-approved, then separate pre-approval by Cameco Corporations audit committee or audit committee chair, or in the absence of the audit committee chair, the chair of the board, is
required. All pre-approvals granted pursuant to the delegated authority must be presented by the member(s) who granted the pre-approvals to the full audit committee at its next meeting. The audit committee has adopted a written policy to provide
procedures to implement the foregoing principles.For each of the years ended December 31, 2011 and 2010, none of Cameco Corporations Audit-Related Fees, Tax Fees or All Other Fees made use of the de minimis exception to
pre-approval provisions contained in paragraph (c)(7)(i) of Rule 2-01 of Regulation S-X promulgated by the U.S. Securities and Exchange Commission.