#1Introduction to Canada Nickel Company Delivering the Next Generation of Nickel Sulphide Projects TSX-V: CNC March 31, 2021 www.canadanickel.com CANADA NICKEL COMPANY#2Forward Looking Statements CANADA NICKEL COMPANY This Presentation contains certain information that may constitute "forward-looking information" under applicable Canadian securities legislation about Canada Nickel Company Inc. ("CNC"). Forward-looking information includes statements about strategic plans, including future operations, future work programs, capital expenditures, discovery and production of minerals, price of nickel, timing of geological reports and corporate and technical objectives. Forward-looking information is necessarily based upon a number of assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information, including the risks inherent to the mining industry, adverse economic and market developments. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this Presentation is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. CNC disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law. This Presentation has been completed by CNC. Certain corporate projects referred to herein are subject to agreements with third parties who have not prepared, reviewed or approved this Presentation. The Presentation is not intended to reflect the actual plans or exploration and development programs contemplated for such projects. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, CNC disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although CNC believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. The scientific and technical information contained in this Presentation has been reviewed by Steve Balch, P. Geo, (VP Exploration) and a Qualified Person within the meaning of National Instrument 43-101. Foreign Exchange Assumptions All amounts discussed herein are denominated in CAD dollars unless otherwise specified. www.canadanickel.com 2#3Why Invest in Canada Nickel? CANADA NICKEL COMPANY Canada Nickel (CNC) owns 100% of the Crawford Nickel-Cobalt Sulphide project: A new nickel discovery with large scale potential in an established mining camp adjacent to existing infrastructure north of Timmins, Ontario, Canada. One of the top 10 nickel sulphide resources globally, with significant expansion potential Initial metallurgical testing confirmed excellent nickel recovery of 46%, 51% and 52% from the first 3 locked. cycle tests using conventional flowsheet design. Latest testing show 15% less grinding energy required Nickel mineralization in Crawford extended to Main, East, West and North Zones, with total strike length of ~7 km. New target from MacDiarmid option property 15% larger than original Crawford Main Zone Groundbreaking, mutually beneficial MOUS signed with local First Nations Canada Nickel has launched wholly-owned NetZero Metals Inc. to develop zero-carbon production of Nickel, Cobalt and Iron - has applied for trademarks NetZero Nickel TM, NetZero Cobalt TM, NetZero IronT TM Canada Nickel is completing a PEA on the Crawford Project by April 2021, FS by year-end 2021 MOU signed with Glencore to examine potential to use Kidd Creek mill and met site to allow faster, significantly lower capital cost startup. Work to be completed during Q1 2021 Canada Nickel is well timed - nickel appears to be entering a supercycle which occur every 15-20 years. Prices should remain at relatively high levels for an extended period to incent new supply to meet already strong demand growth further accelerated by substantial requirements from electric vehicles Nickel has limited investible opportunities Prior supercycle in 2005-2007 largely emptied project pipeline outside Indonesia. * Mineral Resource Estimate prepared by Caracle Creek International Consulting Inc. www.canadanickel.com 3#4Board and Management Team CANADA NICKEL COMPANY David Smith Director P.Eng., C.Dir. Francisca Quinn Director M.Sc. Jennifer Morais Director BA, MBA, CFA Kulvir Singh Gill Director B.Comm., ICD.D Mike Cox Director B.Sc., MBA Russell Starr Director MA, MBA John Leddy Senior Advisor, Legal LL.B. • • • Senior VP, Finance and CFO of Agnico Eagle Mines Limited; Chartered Director, Director of Sprott Resource Holdings Co-founder and President of Quinn & Partners Inc., a recognized advisory firm advancing sustainability in business and capital markets; Previously with Carbon Trust and WSP Global >20 years as senior executive in private equity, alternative finance, mining finance and management consulting; previously with TPG Capital, CPPIB, OMERS, Hatch and CIBC 20 years of experience in innovation and sustainability in mining; lead innovation and growth projects for Fortune 500 clients across the mining, O & G and heavy industrial sectors Managing Partner at CoDa Associates; previously head of Vale UK and Asian refineries following over 30 years in senior leadership roles in Base Metals with Inco and Vale Previously in senior roles with RBC Capital Markets, Scotia Capital, Orion Securities, and Blackmont; SVP and Director of Cayden Resources (acquired by Agnico for $205M) Senior Advisor, Legal and Strategic Matters at Karora Resources Inc. (formerly RNC Minerals); Over 20 years' experience as a business lawyer and former Partner at Osler Mark Selby Previous CEO of Royal Nickel Corporation Chairman, CEO B.Comm. Corporate development, strategy, business planning and market research Executive with Quadra Mining and Inco Nickel market expert Wendy Kaufman CFO CPA, CA >25 Steve Balch VP, Exploration P.Geo. Jessie Liu-Ernsting VP, Corp Dev & IR P.Eng., MBA Pierre-Philippe Dupont VP, Sustainability M.Sc. Christian Brousseau Project Director ing. www.canadanickel.com • • years of experience leading mining companies in project finance, capital structure, capital markets, accounting and internal controls, tax, financial reporting and public disclosure; completed $4 billion finance for Cobre Panama Geophysicist with 35 years experience specializing in Ni-Cu-PGE deposits including for Inco Limited in the Sudbury Basin and Voiseys Bay Active in developing geophysics technology used in exploration globally Close to 20 years of experience in mining capital projects engineering, capital markets, private equity and corporate strategy Previously with Hudbay Minerals, Resource Capital Funds, CIBC, Hatch and Golder Associates >15 years of experience in successfully obtaining environmental, community stakeholder and First Nation approvals for mining projects, including permitting Dumont Nickel and Canadian Malartic; former Director of Sustainability at Glencore 30 years of experience with engineering, design and construction in mining, including >6 years as project Director for the Dumont Nickel Project, three years as the Engineering and Construction Manager for Detour Gold#5Nickel Demand A Leader Among Metals CANADA NICKEL COMPANY Nickel demand a leader among metals over the last decade (5%) driven by continued strong growth in stainless steel (5.4%) with little contribution from electric vehicles to date. Base Metals & Other Metals Demand CAGR% (2007-2017) 5.2% 5.0% 3.8% 5.4% 2.4% 2.2% 2.1% 4.2% 1.8% Aluminum Nickel Lead Copper Zinc Stainless Carbon Steel Cobalt Molybdenum Source: Macquarie www.canadanickel.com 5#6Electric Vehicles to Drive Significant Demand Growth - 9.2 Mtpa by 2050 CANADA NICKEL COMPANY Glencore presentations highlight massive growth expected in nickel demand. Please note that Tesla 3TW of annual batteries needs 1+ Mtpa alone!! Electrification of transport relies on the large scale replacement of ICE with EVs The mobility transition is a major new source of material demand: >140M EVS forecast on the road by 2030 (1) Copper: +3Mtpa by 2030 Contained copper in EVs (Mt)2) 1.1 0.2 0.3 3.0 2018 2020F 2025F 2030F EV Cu demand as % of 2018 Cu supply 4.5% 1.3% 0.8% 2018 2020F 2025F Bank of America Merrill Lynch 2019 Global Metals, Mining & Steel Conference Nickel: +1.3Mtpa by 2030 Contained nickel in EVs (Mt)2) 0.40 0.11 0.06 1.30 2018 2020F 2025F 2030F EV Ni demand as % of 2018 Ni supply 12.6% 2030F 18% 5% 3% 2018 59% 2020F 2025F 2030F Cobalt: +263ktpa by 2030 Contained cobalt in EVs (kt)(2) 26 14 131 263 2018 2020F 2025F 2030F EV Co demand as % of 2018 Co supply 219 11% 2018 2020 104% Source: (1) BNEF Long-Term Electric Vehicle Outlook 2018. (2) Glencore estimates, Wood Mackenzie, CRU, BNEF. Does not include the copper, nickel or cobalt required for other parts of the EV supply chain Including charging Infrastructure, energy storage systems, grid www.canadanickel.com 209% 2025 2030 GLENCORE 6#7Nickel Demand EVs Going to Multiply Demand Requirements CANADA NICKEL COMPANY By 2025, EV + trend demand 4% growth (slower than 5% trend) requires nearly 1 Mtpa of new supply. By 2030, 2.5 million tonnes (or double today) is required. Outside of Indonesia, very little visibility on new supply Incremental Nickel Demand (Mt) 2025 and 2030 vs 2018 2.5 Mt All Where is new project supply going to come from? Laterites - HPAL? Other (4% pa) Laterites - FeNi? 0.9 Mt NPI? EV Sulphides? 2025 2030 Using copper as comparison, adding 100% of current nickel supply is equivalent to adding 20 Escondidas Source: CRU, CNC Analysis www.canadanickel.com#8Tesla: "Please mine more nickel..." CANADA NICKEL COMPANY "...please mine more nickel... Tesla will give you a giant contract for a long period of time if you mine nickel efficiently and in an environmentally sensitive way." - Elon Musk, Co-Founder and CEO, Tesla Earnings Call July 22, 2020 Estimated Carbon Footprint (tonnes CO2/tonne of Nickel produced) Selected Types of Nickel Production - Existing Projects/Producers 100 90 88 80 70 60 50 40 34 30 20 7 10 2 0 Lower Grade Sulphide Source: Serpentine (concentrate) Wood Mac Nickel Industry Costs, Canada Nickel analysis High Grade Nickel Sulphide HPAL Coal-Powered Asia NPI Production (intermediate) Indonesia www.canadanickel.com 8#9Nickel Supply - Significant Political Risk Is there an ONEC in our future ?? CANADA NICKEL COMPANY Nickel supply facing increasing political risk as Indonesia now dominates nickel supply growth. Just 3 countries are expected to control as much of the nickel supply as OPEC did of global oil supply at its peak in 1973 Nickel Supply Concentration (2020) vs Oil Supply Concentration at OPEC peak (1973) 54% Other OPEC Persian Gulf 37% 52% New Caledonia Philippines Indonesia 28% These 3 countries: Face revenue shortfalls Have intervened directly into mining sector Oil 1973 Source: U.S. EIA, Canada Nickel analysis Nickel 2020 www.canadanickel.com 9#10Crawford Nickel-Cobalt Sulphide Project CANADA NICKEL COMPANY One of largest nickel-cobalt sulphide resources located in a well established mining camp with infrastructure. . World-class jurisdiction in Ontario, Canada Established Timmins mining camp with 100-year history of mining Access to all major infrastructure including zero-carbon hydroelectricity Active permitting and development of mines • Lower Sturgeon Generating Station N 655 500 kV Transmission Line 115 kV Transmission Line Crawford Township Kidd Mine (Glencore) Kidd Met Site (Glencore) ☑ A 10 km Timmins Long history of downstream processing www.canadanickel.com 101 101 10 10#11Part of Relatively Underexplored Property D www.canadanickel.com CANADA NICKEL COMPANY Why Crawford undiscovered until now? A few drill holes by Inco in 1960s in each large anomaly Minimal exploration in 1970/1980s Land owned by forestry company for several decades until acquired by Noble in 2011 Little outcrop on land package 11#12. Crawford Mineral Resource CANADA NICKEL COMPANY Crawford's resource ranks as one of the 10 largest nickel sulphide resources globally Higher grade core of M&I Resource of 280 Mt at 0.31% Ni, 0.013% Co, and 0.04 g/t Pd + Pt within an overall M&I resource of 653 Mt at 0.26% Ni and 0.013% Co Higher grade inferred resource of approximately 110 Mt at 0.29% Ni and 0.013% Co within an overall inferred resource of approximately 497 Mt at 0.24% nickel and 0.013% cobalt Mineral Resource Estimate Contained DOMAIN CLASS MAIN HIGHER Measured Indicated 151.7 128.6 GRADE ZONE Mea+Ind 280.2 Inferred 109.9 0.29 Measured 62.5 0.22 TONNES (Mt) Ni (%) Co (%) Fe (%) S (%) Pd (g/t) Pt (g/t) 0.32 0.013 6.25 0.20 0.029 0.012 0.30 0.013 6.37 0.16 0.027 0.013 0.31 0.013 6.31 0.18 0.028 0.012 0.013 6.66 0.09 0.026 0.013 0.013 6.83 Ni (kt) Co (kt) Fe (Mt) Pd (koz) Pt (koz) 482.2 19.9 391.8 16.5 9.5 141 57 8.2 111 52 873.9 36.4 17.7 252 108 315.0 14.0 7.3 93 47 0.05 135.1 8.2 4.3 MAIN LOWER Indicated 263.2 0.21 0.013 6.90 0.04 557.0 34.6 18.2 GRADE ZONE Mea+Ind 325.6 0.21 0.013 6.89 0.04 692.1 42.9 22.4 Inferred 210.2 0.21 0.013 6.87 0.06 444.9 27.1 14.4 Measured 25.8 0.26 0.012 6.02 0.04 67.4 3.2 1.6 Indicated 21.8 0.26 0.013 6.20 0.04 56.2 2.7 1.3 EAST ZONE Mea+Ind 47.5 0.26 0.013 6.11 0.04 123.6 6.0 2.9 Inferred 176.7 0.24 0.013 6.63 Mea+Ind TOTAL Inferred 653 497 0.04 0.26 0.013 6.58 0.10 0.028 0.012 0.24 0.013 6.74 0.06 0.026 0.013 423.5 22.6 11.7 1,689.6 85.2 43.0 252 108 1,183.3 63.8 33.5 93 47 Mineral Resource Estimate prepared by Caracle Creek International Consulting Inc., in accordance with the National Instrument 43-101 ("NI 43-101") and CIM Definition Standards on Mineral Resources and Reserves, with an effective date of December 11, 2020. Reference is made to the full CNC technical report dated January 17, 2021, available on www.sedar.com. Mineral resources that are not mineral reserves do not have demonstrated economic viability. www.canadanickel.com 12#135408600 N 5408800 N 5408400 N N A 200 m 5409000 N 472400 E 5409200 N 472600 E 472800 E 473000 E Higher Grade Core - Crawford Main Zone Clearly Defined in Resource CANADA NICKEL COMPANY A higher grade core of 201 Mt of 0.34% Ni including 58 Mt at 0.36% was defined within resource. Remains open to the west. High Grade Zone Boundary Resource Boundary 0.30% Grade Shell 201 Mt @ 0.34% Ni 0.35% Grade Shell 57.9 Mt @ 0.36%Ni Refer to Canada Nickel Company's press release dated October 21, 2020 for more information. www.canadanickel.com 473200 E 473400 E 473600 E 473800 E 474000 E Legend 0.30% Ni Grade Shell 0.35% Ni Grade Shell High Grade Zone Resource Boundary The higher grade core has been defined for: 1.8 km long 150-220 m wide Up to 650 m deep Infill hole CR20- 42 averaged 0.42% Ni 13#14. West Zone - Third New Discovery Hole 74 Extends Higher Grade Core CANADA NICKEL COMPANY Main-Higher Grade Zone and West Zone Holes 69, 70, 72, 74 over top of gravity gradient • Follow up drilling of hole CR20-74 in West Zone substantially extends higher grade mineralization potential by 45% or 850 metres to northwest. 0.30% nickel over core length of 308 metres, including 153 metres of 0.32% nickel and ending with an additional 36 metres at 0.32% nickel 5411000N Large, Lower Grade Target 2+ km x 400-800m 5410000N 471000E 472000E Previously Reported-Hole 72 CR20-72 @ 352.5 metres, 10 mm field of view Two holes, CR20-69 and CR-70, defined wide, low grade mineralization across width of 1km within multi-kilometre anomaly and remains open in multiple directions CR20-70 0.17% Ni over 495m incl. 0.20% Ni over 336m and 0.21% Ni over 41m CR20-69 0.16% Ni over 456m incl. 0.20% Ni over 88m 5409000N and 0.21% Ni over 177m N CR20-72 0.31% Ni over 21m 500 m www.canadanickel.com 850 m CR20-72 @ 370 metres, 10 mm field of view 473000E CR20-74 0.28% Ni over 453m incl. 0.32% Ni over 153m incl. 0.41% Ni over 14m and 0.32% Ni over 36m (EOH) Potential Extension of Higher Grade Core 1.8 km CR20-77 0.25% Ni over 357m incl. 0.32% Ni over 90m incl. 0.41% Ni over 12m Legend Drill Holes 0.30% Ni Grade Shell 0.35% Ni Grade Shell Ni (%) <0.15% 0.15% 0.20% 0.20% -0.25% 0.25% -0.30% 0.30% 0.35% 0.35% 0.40% > 0.40% 150-220 m 14#155409000 N 5410000 N 400 m 541 1000 N . • Fourth New Discovery Reinforces Geophysical Understanding CANADA NICKEL COMPANY Initial two drill holes collared 100 m apart intersected mineralized dunite in 1.1 km by 400 m wide geophysical anomaly approximately 2.5 km north of Main Zone. Hole CR20-84 remained in mineralized dunite across its entire core length of 501 metres. Hole CR20-87 collared in and intersected mineralized dunite for 218 m, before intersecting multiple peridotite/pyroxenite sequences similar to ones seen in recently discovered PGM zones at Crawford. 472000 E 5412000 N 1.5 km 473000 E CR20-84 CR20-87 400 m 1.1 km North Zone Main Zone 1.8 km East Zone 2.1 km 474000 E Nickel Resource 500 m 475000 E 541 2000 N 541 2200 N 541 1800 N 100 m 5412400 N 541 2600 N 472200 E Gravity Low www.canadanickel.com 472400 E CR20-84 CR20-87 Peridotite Dunite Pyroxenite 472600 E 472800 E 473000 E 15 473200 E#16Excellent Initial Metallurgy Results CANADA NICKEL COMPANY Initial metallurgical testing confirmed excellent nickel recovery of 46%, 51% and 52% from the first 3 locked cycle tests using conventional flowsheet similar to other ultramafic deposits 2020 Concentrate Grade (% Ni and % Co) for Global Nickel Sulphide Operations/Projects Compared to Crawford Nickel-Cobalt Project • • Crawford High Grade* Dumont* Voisey's Bay Mount Keith Raglan Flying Fox Vale - Sudbury Vale - Manitoba Santa Rital Nova-Bollinger Crawford Standard Grade* Glencore - Sudbury % Ni (Source: Wood Mackenzie) % Co Voisey's Bay Dumont* Crawford High Grade* Vale - Sudbury Nova-Bollinger Nkomati Kevitsa Mount Keith Savannah Restart Crawford Standard Grade * Jinchuan Eagle Munali *Denotes development projects. Bindura Restart Glencore - Sudbury Othert t Includes 10 other operations including Raglan South, Leinster, Kevitsa, Jinchuan, Norilsk Leinster § Includes 10 other operations including Raglan, Norilsk, Raglan South, Eagle, Vale - Manitoba Other§ 10 20 30 40 0.50 1.00 1.50 Recent test results confirm ability to utilize 180 micron grind (versus 150 micron) - 15% less energy/more throughput Results also confirm ability to deliver a target 45-50% iron magnetite concentrate with focus on maximizing recovery rather than grade as expected to be processed locally. Substantial iron credit - samples recovered 15X and 30X iron to nickel www.canadanickel.com 16#17NetZero Metals NetZero Carbon Production Potential CANADA NICKEL COMPANY A number of key technologies are being explored to develop a Zero-Carbon footprint operation Mining • • Utilization of electric rope shovels and trolley trucks which utilize electricity, rather than diesel fuel, as a power source wherever possible Deposition approaches for waste rock and tailings during mining to expose the serpentine rock to air to allow this material to absorb CO₂ through natural mineral carbonation (exact amount and rate at which CO2 can be absorbed from materials mined at Crawford will be analyzed during upcoming phases of work) Milling Large scale processing of lower grade sulphide ores utilizes a significant amount of electricity - local proximity to hydroelectricity provides the potential to minimize carbon emissions for this stage of production. NetZero Metals - Nickel-Cobalt Concentrate Processing Existing pyrometallurgical processes such as roasting, sulphation roasting, and reduction using electric arc furnaces (utilizing natural gas rather than coke or coal as a reductant) with the offgases captured and re-routed to allow the CO2 be captured by the waste rock and tailings Existing hydrometallurgical processes to produce nickel and cobalt products such as the Albion or other similar processes, which generate minimal off-gases to produce nickel and cobalt products. The off-gases will again be captured and treated to ensure CO2 and SO 2 emissions are minimized. NetZero Metals - Magnetite Concentrate Processing Production of iron products utilizing existing direct reduced iron (DRI) processes or reduction in electric arc furnaces utilizing natural gas www.canadanickel.com 17#18Ground-breaking MOU Signed with Local First Nations CANADA NICKEL COMPANY Canada Nickel has entered into Memorandum of Understandings with Taykwa Tagamou Nation and the Matachewan and Mattagami First Nations. TAYKWA TAGAMOU TACHE NATION "Our community favours a development project like Canada Nickel's that provides a positive economic impact, minimal environmental impacts with a commitment to deliver NetZero products, and has the foresight to engage with Taykwa Tagamou during the early stages of development." - Chief Bruce Archibald, Taykwa Tagamou Nation, December 16, 2020 "...happy to be forging a strong and mutually beneficial relationship with Canada Nickel on their promising Nickel-Cobalt Project.” – Chief Jason Batisse, Matachewan First Nation, December 14, 2020 "Mark is genuinely committed to responsible and sustainable development, and our community appreciates being engaged in the early planning stages of the project." - Chief Chad Boissoneau, Mattagami First Nation, December 14, 2020 Refer to Canada Nickel TSX-V Announcements dated December 14 and December 16, 2020 www.canadanickel.com 18#19MOU Signed for Potential Use of Glencore Kidd Concentrator & Met Site CANADA NICKEL COMPANY The opportunity to utilize the excess capacity and existing infrastructure at the Kidd Met Site provides the potential to allow a faster, simpler, smaller scale start-up of Crawford at a vastly lower capital cost while the Company continues to permit and develop the much larger scale project currently being contemplated • MOU signed for potential use of Glencore's Kidd concentrator and metallurgical site ("Met Site") in Timmins, Ontario for the treatment and processing of material mined from Crawford approximately 40 km away Canada Nickel has completed an initial high-level assessment and will now proceed with a detailed study on the potential for upgrading excess capacity at the Kidd Concentrator and/or utilizing the existing infrastructure in place at the Kidd Met Site for milling and further processing the nickel-cobalt and magnetite concentrates that are expected to be produced from Crawford. Should the study deliver a positive outcome for both parties, the parties will continue good faith negotiations towards a binding agreement. This detailed study is expected to be completed by the end of March 2021. www.canadanickel.com 19#20Crawford is Largest Nickel Sulphide Discovery Since Early 1970s Discovery of Key Sulphide Deposits CANADA NICKEL COMPANY Contained Ni (Production+reserves+ resources) kt 20,000 18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 ⚫High grade Low grade ? Crawford 1880 1900 1920 1940 1960 Year of discovery 1980 2000 2020 Source: Vale presentation at the Metal Bulletin 3rd International Nickel Conference, London, April 29, 2015 www.canadanickel.com 20 20#21Significant Exploration Potential >50% Crawford Remaining + 7 New Targets 7 separate nickel-bearing target structures 30km of total strike length and 150 - 600m wide on option properties CANADA NICKEL COMPANY • For reference, the Crawford Main Zone resource is 1.7 km long and 225-425 metres wide Historic drilling yielded nickel-bearing intersections on all of the target structures • Kingsmill -0.30% Ni over of 503m from 118m in historic hole KML-12-02 (2012) and 0.31% Ni over 302m from 20m in historic hole 27090 (1966) Nesbitt-North - 0.28% Ni over of 163m from 233m in historic hole 27083 (1966) Mahaffy-Aubin - 0.23% Ni over of 127m from 82m in historic hole 31901 (1966) and of 276m of serpentinized ultramafic mineralization (similar host mineralization at Crawford) in historic hole T2-80-2 (1980) with no assays provided PGM-enriched structures similar to Crawford also identified at Kingsmill • 1.0 g/t PGM over 2m from 96m within 0.3 g/t PGM over 30m from 69m in historic hole KML-12-11 (2012), 0.8 g/t PGM over 5m from 523m within 0.5 g/t PGM over 24m in historic hole KML-12-07 (2012) Airborne magnetic and gravity survey totalling 2,731 l-km currently underway. Kingsmill Airborne survey completed Nesbitt North Mahaffy-Aubin Airborne survey completed Newly Optioned Claims MacDiarmid Crawford Main Zone Resource Crawford- Nesbitt- |Aubin 500 kV Transmission Line Previous airborne survey Crawford Annex Kidd Mine (Glencore) 655 5 km 115 kV Transmission Line www.canadanickel.com#22MacDiarmid - 15% Larger Anomaly Than Crawford Main Zone CANADA NICKEL COMPANY Initial geophysical results and review of historical exploration work has generated a number of excellent targets including MacDiarmid where high quality coincident anomaly is 15% larger than original Crawford Main Zone target 471400 E Plan view of Crawford and MacDiarmid Properties - Outline of Gravity Low and Magnetic High geophysics anomaly overlain on total field magnetic intensity 471600 E 471800 E 472000 E 473000 E 473200 E 473400 E 5410000 N 457600 E 457800 E 158000 E 458200 E 458400 E 458600 E 458800 E 459000 E 459200 E 459400 E 459600 E 459800 E 25372200 N 460000 E 0000 Legend High Magnetic Low Gravity 0.30% Ni Grade Shell 0.35% Ni Grade Shell Resource Boundary 5409800 N 5409600 N 5409400 N Main Zone: M&I 606 Mt at 0.26% Ni Inferred 320 Mt at 0.24% Ni MCD41-02 5409200 N Resource length: 1.8 km 5109000 N 0.30% Grade Shell 201 Mt @ 0.34% Ni N 200 m 5408800 N 5408600 N 5408400 N 5108200 N 5408000 N Legend Distorica Dril Holes High Magnetic Low Gravity 200 m MAC-73-6 5392000 N 539 1800 N 539 1600 N 539 1400 N Total length: 1.8 km 539 1200 N Average width: 400 m Area: 0.71 km² MCD32-02 MAC-73-1 MAC-73-2 539 1000 N 5390800 N MAC-7 5390600 N MAC-5MAC-6 5390400 N MAC-73,3 MAC-4 MAC-3 5370200 N • All 7 historical holes at MacDiarmid drilled entirely within the target coincident anomaly intersected dunite or peridotite (the mineralized host rock at Crawford) across the bulk of the core length, and indicated presence of magnetite and sulphides in abundances consistent with that seen in Crawford core logs - critical to the formation of nickel sulphide minerals. Refer to Canada Nickel TSX-V Announcements dated February 17, 2021 www.canadanickel.com 22 22#23Canada Nickel Undervalued Versus its Peers CANADA NICKEL COMPANY Market Cap (C$ M) 650 600 550 500 450 400 350 300 250 200 150 129 88 100 37 38 45 49 50 227 246 ill 330 477 1,71 GIGA Metals St George Mining Estrella Resources Garibaldi Resources Azure Minerals FPX Nickel Centaurus Canada Metals Nickel Company Legend Mining Talon Metals Chalice Gold Ni Project Turnagain Hawaii Carr Boyd E&L Andover Decar Jaguar Crawford Ownership % 100 100 100 100 60 100 100 100 Mawson 70 Tamarack New Julimar 60 100 Year 2004 2012 2020 1966 1986 2010 2019 2019 2019 2007 2019 Discovered As at March 30, 2021 www.canadanickel.com 23 23#24New Nickel Sulphide Discoveries Have Been Acquired at Significant Valuations CANADA NICKEL COMPANY DIAMOND FIELDS RESOURCES MINES JUBILEE Sirius N. LIONORE RESOURCES Voisey's Bay Cosmos Multiple Mines Nova Bollinger Acquisition C$4.5 B A$3.1 B C$6.8 B A$1.8B Value & Year (1996) (2007) (2007) (2015) Share Price Accumulation 37x 58x 6.5x 15x Reserve (Mt) 0.9 0.09 1.4 0.27 Resource (Mt) 2.1 0.5 4.4 0.3 Production (kt) 50 12 34 26 www.canadanickel.com 24 24#25Ownership Structure CANADA NICKEL COMPANY The Company is well-funded to achieve its next milestone, with a $13 million bought deal financing closed on October 14, 2020. Pro Forma Capital Structure Common Shares (M) 79.8 Warrants (M) 3.0 Options / RSUs (M) 6.6 Fully Diluted Shares (M) 89.1 Management and Board members own ~5% of common shares. www.canadanickel.com 25 25#26Why Invest in Canada Nickel? CANADA NICKEL COMPANY Canada Nickel (CNC) owns 100% of the Crawford Nickel-Cobalt Sulphide project: A new nickel discovery with large scale potential in an established mining camp adjacent to existing infrastructure north of Timmins, Ontario, Canada. One of the top 10 nickel sulphide resources globally, with significant expansion potential Initial metallurgical testing confirmed excellent nickel recovery of 46%, 51% and 52% from the first 3 locked. cycle tests using conventional flowsheet design. Latest testing show 15% less grinding energy required Nickel mineralization in Crawford extended to Main, East, West and North Zones, with total strike length of ~7 km. New target from MacDiarmid option property 15% larger than original Crawford Main Zone Groundbreaking, mutually beneficial MOUS signed with local First Nations Canada Nickel has launched wholly-owned NetZero Metals Inc. to develop zero-carbon production of Nickel, Cobalt and Iron - has applied for trademarks NetZero Nickel TM, NetZero Cobalt TM, NetZero IronT TM Canada Nickel is completing a PEA on the Crawford Project by April 2021, FS by year-end 2021 MOU signed with Glencore to examine potential to use Kidd Creek mill and met site to allow faster, significantly lower capital cost startup. Work to be completed during Q1 2021 Canada Nickel is well timed - nickel appears to be entering a supercycle which occur every 15-20 years. Prices should remain at relatively high levels for an extended period to incent new supply to meet already strong demand growth further accelerated by substantial requirements from electric vehicles Nickel has limited investible opportunities Prior supercycle in 2005-2007 largely emptied project pipeline outside Indonesia. * Mineral Resource Estimate prepared by Caracle Creek International Consulting Inc. www.canadanickel.com 26 26#27Corporate Office 130 King St West Suite 1900 Toronto ON M5X 1E3 TSX-V: CNC +1 (647) 256-1954 [email protected] Twitter: @Canada Nickel CANADA NICKEL COMPANY www.canadanickel.com 27