Canada Nickel Company (CNC) Investor presentation summary

Strategic positioning and market outlook

• Positioned as a leading next-generation large-scale nickel supplier, with a focus on North American supply outside Indonesia and China, amid a forecasted nickel supercycle driven by EV demand.

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

• Nickel demand is expected to double by 2030, reaching over 6 Mtpa, with supply growth concentrated in Indonesia, Russia, and the Philippines, raising political risk concerns.

Crawford Nickel Sulphide Project highlights

• Crawford is the world’s 2nd largest nickel reserve and resource, with a 41-year mine life and peak annual production of 48kt nickel.

• Bankable Feasibility Study (BFS) shows after-tax NPV8% of $2.5B (rising to $2.6B with carbon credits), IRR of 17.1% (18.3% with credits), and average annual EBITDA of $811M.

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

• Estimated CO2 emissions of 2.3 t/t Ni, 89% lower than industry average, with potential to store 1.5 Mt CO2 annually via IPT Carbonation.

District consolidation and exploration

• Consolidated 42 km² of ultramafic targets in the Timmins Nickel District, with 15 of 16 new properties successfully drilled and 10 targets larger than Crawford.

• 2024 exploration aims for 7 new resources and 6 discoveries, with Deloro’s initial resource estimate published and multiple rigs active across the district.

• ExploreCo, an 80%-owned subsidiary, will manage eastern exploration properties, with potential for public listing.