Investor Presentaiton

Cosmos The Odysseus Mine at Cosmos is expected to produce nickel in concentrate for 10+ years from FY23 Cosmos Operational Hub Western Areas' second operational hub Strategically located between BHP Nickel West's Leinster and Mt Keith mines Established infrastructure in a prolific nickel camp igo Odysseus Mine Long life, low cost project: Mine life 10 years Attractive AISC AM6: Provides additional upside Significant upside: Follow up drilling commenced on the 22% Ni massive sulphide lenses below Odysseus Open mineralisation south of AM6 Cosmos Tonnes (Mt) Ni grade (%) Ni tonnes (kt) Production & Costs First production¹ Pre-production Capex² Concentrate production on schedule for FY23 FY22: A$160M; FY23: A$55M Odysseus Ore Reserve 8.1 2.0% 165 AM6 Ore Reserve 2.1 2.2% 47 Mineral Resources (including Mt Goode) 67.0 1.0% 656 Mine life (on Ore Reserves) 10+ years Note: Reserves and Resources as per Western Areas September Quarterly Presentation (ASX: 28 October 2021); 1. As per Western Areas FY21 Results Presentation (ASX: 24 August 2021); 2. As per Western Areas AGM Presentation (ASX: 18 November 2021). 20 20

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