Investor Presentaiton

NAC NICKEL ASIA CORP. REVENUE – VARIANCE ANALYSIS 1Q2023 YoY COMPARISON Sales Volume (mWMT) 12 1Q'23 Flat YoY 2.39 Revenue Variance, Php Millions, 3M-2023 v 3M-2022 4,000 1Q'22 2.39 65 52 137 3,514 3,500 3,343 3 (18) (68) 3,000 Sales Price (mWMT) 2,500 1Q'23 -1.4% change YoY 26.80 2,000 1,500 1Q'22 27.19 1,000 FX Rate (PHP/USD) 500 0 1Q'23 +11% YoY change 54.80 Ni^1.5% Volume HPAL Volume HPAL Price 3M-2023 3M-2022 Ni^<1.4% Volume Ni~1.5% Price Forex 1Q'22 51.51

View entire presentation