Canada Nickel Company (CNC) Investor presentation summary

Market positioning and strategic overview

• Positioned as a leading next-generation, large-scale nickel supplier outside Indonesia/China, with a focus on zero-carbon production and a consolidated Timmins mining district anchored by the Crawford project.

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

• Nickel market expected to enter a supercycle, with demand forecast to double by 2030, driven by electric vehicles.

• Timmins Nickel District consolidation offers potential for multiple large-scale discoveries and scalable supply.

• NetZero Metals subsidiary aims to develop North America's largest nickel processing and stainless steel facilities, leveraging zero-carbon technology.

Crawford project highlights and economics

• Crawford is the world’s 2nd largest nickel reserve and resource, with a 41-year mine life and robust infrastructure in an established mining camp.

• 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 peak annual EBITDA of $811M.

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

• Projected peak production of 48ktpa nickel, 0.8ktpa cobalt, 13kozpa PGMs, 1.6Mtpa iron, and 76ktpa chrome.

• Fully funded for 2024 exploration and development, with significant financing commitments secured.

Environmental, social, and permitting milestones

• Crawford’s carbon footprint is estimated at 2.3 tCO2/t nickel, 89% lower than industry average, with potential for net negative emissions via IPT Carbonation.

• Carbon storage capacity of 1.5Mt CO2/year, with potential for substantial carbon credit revenue and eligibility for federal tax credits.

• First phase of federal permitting completed; Impact Statement phase underway, with strong Indigenous partnerships and agreements in place.

• Targeting permit receipt and construction decision by mid-2025, with first production by year-end 2027.