Investor Presentaiton

Westaim Book Value per Share (US$): Three months ended December 31, 2021 ▲WESTAIM $2.39 $0.03 $0.00 $0.04 $0.00 ($0.03) $2.43 BVPS September 30, 2021 Income from Skyward Specialty, excluding unusual items* Income from Arena FINCOS and ASOF Income from Arena Investors Westaim holding company net expenses (excluding RSUs) Westaim share of unusual items* BVPS December 31, 2021 * Refer to Westaim's MD&A section 3 Investments at December 31, 2021 and December 31, 2020 for details of Skyward Specialty unusual items. Any terms not defined in this document are defined in Westaim's December 31, 2021 MD&A. 11

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