Canada Nickel Company (CNC) Investor presentation summary

Market overview and strategic positioning

• Nickel demand is forecasted to double by 2030, driven by electric vehicle growth, with annual demand potentially exceeding 6 million tonnes, outpacing other base metals significantly.

• Nickel supply is highly concentrated, with Indonesia controlling 61% of global supply and managing export quotas, creating significant political risk and supply constraints.

• The Timmins Nickel District is being developed as a new, large-scale source of nickel outside Indonesia and China, with over 20 ultramafic targets and a consolidated 42 km² geophysical footprint.

• The district has published six resources totaling 9.2 million tonnes of measured & indicated nickel and 9.5 million tonnes inferred, with three more resources expected in 2025.

• Key investors include Agnico Eagle, Samsung SDI, Anglo American, and Taykwa Tagamou Nation, supporting project advancement.

Crawford Nickel Sulphide Project highlights

• Crawford is the world's second-largest nickel reserve and is expected to be the third-largest nickel sulphide operation globally.

• The bankable feasibility study (BFS) shows an after-tax NPV of US$2.5 billion (US$2.6 billion with carbon credits) and an IRR of 17.1% (18.3% with credits), with a 41-year mine life.

• Peak production is 48ktpa nickel, 0.8ktpa cobalt, 13kozpa PGMs, 1.6mtpa iron, and 76ktpa chrome over 27 years.

• Life-of-mine average net C1 cash cost is US$0.39/lb, placing it in the first quartile of global nickel producers.

• Front End Engineering and Design (FEED) increased NPV to US$2.8 billion and IRR to 17.6%, with initial capital cost rising only 5% to US$2.0 billion.

Sustainability and carbon strategy

• Crawford is estimated to produce 2.3 tonnes CO2 per tonne of nickel, 89% lower than the industry average.

• The IPT Carbonation process can store 1.5 million tonnes of CO2 annually, potentially generating over C$25 per tonne in storage fees.

• The project is expected to be a net negative contributor to global CO2, supporting a zero-carbon industrial cluster in the Timmins-Cochrane region.

• Eligible for significant Canadian federal refundable tax credits for carbon capture and storage.