Canada Nickel Company (CNC) Investor presentation summary

Strategic positioning and market outlook

• Positioned as a leading next-generation, large-scale nickel supplier outside Indonesia/China, with a focus on North American supply and zero-carbon production potential, driven by the Crawford Nickel Sulphide Project.

• Nickel market expected to enter a supercycle, with demand forecasted to double by 2030, primarily from electric vehicles, and supply growth constrained outside Indonesia.

• Key investors include Agnico Eagle (11%), Samsung SDI (8.7%), and Anglo American (7.6%).

• Project financing advanced with US$500M Letter of Interest from Export Development Canada and C$500M support from a leading financial institution.

Crawford Nickel Sulphide Project highlights

• Crawford is the world’s 2nd largest nickel reserve and resource, with a 41-year mine life and robust economics: after-tax NPV8% of $2.5B (rising to $2.6B with carbon credits) and IRR of 17.1% (18.3% with credits).

• Peak annual production of 48kt nickel, 0.8kt cobalt, 13koz PGMs, 1.6Mt iron, and 76kt chrome over 27 years.

• Life-of-mine average net C1 cash cost of US$0.39/lb and AISC of US$1.54/lb, placing it in the first quartile of global nickel producers.

• Estimated annual EBITDA of US$811M and free cash flow of US$546M during peak period.

• Project capital expenditures total US$3.54B, with peak investment of US$1.7B for expansion.

Environmental and carbon strategy

• Crawford’s carbon footprint is estimated at 2.3 tCO2 per tonne of nickel, 89% lower than the industry average.

• IPT Carbonation process enables storage of 1.5Mt CO2 annually, with potential for significant carbon storage revenue and eligibility for federal tax credits.

• Project aims to be a net negative contributor to global CO2, supporting a zero-carbon industrial cluster in the Timmins-Cochrane region.