Investor Presentaiton

Excellent 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

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