Investor Presentaiton

Western Areas Overview Australian nickel producer with producing Forrestania and Cosmos (development) nickel sulphide assets Overview Project pipeline igo Net cash position of A$147.7M1 Scoping/ Pre-feasibility Feasibility Pre-production Commissioning Producing Overview 19.9% shareholder of WA nickel company Panoramic Resources (ASX:PAN) Mt Goode Forrestania: Flying Fox and Spotted Quoll Assets FY22 Guidance Cosmos: Odysseus Mine & AM6 Mt Goode deposit at Cosmos Nickel tonnes in concentrate of 16-17kt Nickel unit cash cost of production of A$4.25/lb-A$4.65/lb² AM6 Flying Fox AM5 Odysseus FY21 Production and Costs Nickel tonnes in concentrate of 16.2kt Ni New Morning Spotted Quoll Nickel unit cash cost of production of A$4.23/lb² Odysseus Massive Sulphide Mine Life Forrestania: Flying Fox ~1 year; Spotted Quoll 4 years Odysseus: 10+ years Diggers Reserves Total Ore Reserves of 13.3Mt @ 2.1% Ni for 276.8kt contained nickel1 Resources Total Mineral Resources of 84.9Mt @ 1.1% for 941.1kt contained nickel1 Forrestania Cosmos 1. As per Western Areas September Quarterly Presentation (ASX: 28 October 2021); 2. Per lb of nickel, payable terms are not disclosed due to confidentially conditions of the offtake agreements. 18

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