Investor Presentaiton

NAC NICKEL ASIA CORP. 22 PHILIPPINE SHIFT TO RENEWABLE ENERGY ■ Demand growth of 6%+ p.a. until 2040, exceeding dependable capacity by 2024: MW 100,000 80,000 60,000 40,000 20,000 0 Existing capacity Additional variable Capacity and Peak Demand (2018-40) Committed capacity Additional flexible Indicative capacity Additional peaking Additional baseload -System peak demand Additional intermediate -Reserve requirement ■ At least 50% of electricity demand to be supplied by RE by 2040, half of which coming from solar, wind and geothermal: Power Generation by Fuel Type (2021 vs. 2030 vs. 2040) ■ Coal ■ Oil-Based ■Natural Gas RE 50% 22% 35% 18.0% 2% 19.3% 1% 26.7% 58% 45% 0% 23% Source: DOE, EIA 2021 2030 2040 Key drivers of electricity consumption: Macroeconomic recovery post- pandemic and strong population growth M Government goal and supporting programs to accelerate and achieve 100% electrification by 2028, and energy sufficiency by 2030 ■ RE development facilitated by favorable government policies and infrastructure: RE Act of 2008 ✓ "Must (priority) dispatch" for RE resources ✓ Feed-in Tariff ✓ Renewable Portfolio Standards (RPS) ✓ Green Energy Auction ✓ Green Energy Options ✓ Launch of WESM Mindanao

View entire presentation