Investor Presentaiton

RKEF Ni production tonnes (100% basis) Strong EBITDA generated in difficult operating environment NICKEL INDUSTRIES EBITDA from 106.1 113.2 55.9 120.7 135.4 operations (US$M) Average LME Ni price (US$/t) 25,460 25,973 22,277 20,392 17,288 35,000 30,000 25,000 20,000 15,000 10,000 5,000 23,433 0 Dec'22 27,399 34,450 33,852 32,558 Mar '23 Jun '23 ■HNI RNI ANI ONI Sep '23 Dec '23 Record RKEF quarterly production of 34,450 tonnes of nickel metal (+1.8% from September quarter), comprising 29,367 tonnes in NPI and 5,083 tonnes in nickel matte, in addition to 1,823 tonnes of MHP from HNC, representing NIC's 10% attributable share of production Maintenance of strong EBITDA from operations despite materially weaker nickel price environment during the December quarter 4

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