Investor Presentaiton

NAC NICKEL ASIA CORP. COST & EXPENSES - VARIANCE ANALYSIS 1Q2023 YoY COMPARISON Sales Volume (mWMT) 1Q'23 Flat YoY 2.39 2,500 1Q'22 Fuel Prices (P/liter) Cost and Expenses, in Php Millions, 3M-2023 v 3M-2022 13 144 2,247 79 16 2.39 82 12 2,000 1,897 16 1,500 1,000 1Q'23 +45% YoY increase 57.6 500 1Q'22 39.8 0 Volume Excise tax and... General and admin 3M-2023 3M-2022 Fuel price Minesite overhead Nonmining costs

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