Updated Mineral Resource - Crawford

Nickel Demand EVs Going to Multiply Demand Requirements CANADA NICKEL COMPANY By 2025, EV + 4% trend demand growth (slower than 5% trend) requires nearly 1 Mtpa of new supply. By 2030, 2.5 million tonnes (or double today) is required. 2.5 Mt would require (at best) - $50-$75 billion of new investment this decade. 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 7

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