Nickel Industries Limited · ASX:NIC

Nickel Industries — Merger or Acquisition (June 2023)

12 slides from Nickel Industries's merger presentation, Jun 9, 2023

1. Slide 1: Strategic Partnership with United Tractors

   Strategic Partnership with United Tractors Investor Presentation 9 June 2023 A top 10 nickel producer strongly positioned to capture growing battery grade nickel demand RESTRICTED 1

2. Slide 2: Important Notices and Disclaimer

   Important Notices and Disclaimer This presentation is dated 9 June 2023 and has been prepared by Nickel Industries Limited ACN 127 510 589 ("Nickel Industries" or “Company” or “NIC”) in relation to the Company’s strategic partnership with United Tractors (“Transaction”). Not a prospectus This presen

3. Slide 3: Important Notices and Disclaimer (cont'd)

   Important Notices and Disclaimer (cont’d) Past performance Past performance information (including past share price performance of Nickel Industries and pro-forma historical information) given in this presentation is given for illustrative purposes only and is not necessarily a guide to future perfo

4. Slide 4: Transaction summary

   Transaction summary United Tractors, through its subsidiary PT Danusa Tambang Nusantara, to become a substantial shareholder of Nickel Industries, providing local operational, regulatory and balance sheet support for future growth Transaction overview Pro-forma ownership structure(1) 1 Conditional 1

5. Slide 5: Introduction to United Tractors ('UT')

   Introduction to United Tractors (‘UT’) One of Indonesia’s largest industrial conglomerates Key metrics Established presence across Indonesia Blue Chip Indonesian Shareholders • One of the largest heavy equipment distributors and providers of mining US$8.3bn services in Indonesia FY22 Revenue PT Astr

6. Slide 6: Introduction to Astra International (59.5% shareholder in UT)

   Introduction to Astra International (59.5% shareholder in UT) Largest listed conglomerate in Indonesia and a partner of choice for international players Key metrics Diversified presence across various sectors Partner of choice in Indonesia as evidenced by collaboration with multiple international br

7. Slide 7: Transaction highlights

   Transaction highlights Transformative strategic partnership with highly credible and significant regional investor with deep knowledge of the 1 Indonesian mining landscape Injection of capital and reduction in Nickel Industries’ capital expenditure commitment(1) on the ENC Project 2 – positions the

8. Slide 8: Transaction details

   Transaction details 1 Conditional Placement 2 Collaboration Agreement for the ENC Project Consideration • Conditional placement of 857m Nickel Industries shares to United • DTN intends to participate in the acquisition of a 20% interest in Tractors, through its subsidiary DTN, for A$943m representin

9. Slide 9: Transaction timeline

   Transaction timeline Event Date Announcement of Execution of Conditional Placement and Collaboration Agreement Friday, 9 June 2023 Shareholder meeting to approve the HNC Placement Wednesday, 5 July 2023 Shareholder meeting to approve the Conditional Placement Q3 2023 Allotment of new ordinary shares

10. Slide 10: Partnership with United Tractors anticipated to add significant value

    Partnership with United Tractors anticipated to add significant value ▪ United Tractors is a direct subsidiary of PT Astra International Tbk - Astra International is the largest listed conglomerate in Indonesia and a partner of choice for large Highly credible international operators partner - Unite

11. Slide 11: Strategic partnership reinforces Nickel Industries as a leading global nickel producer

    Strategic partnership reinforces Nickel Industries as a leading global nickel producer Funding from UT provides NIC with additional capital to progress …further establishing Nickel Industries as a leading battery the ENC Project and significantly expand production… nickel producer 1 2022 Finished ni

12. Slide 12: THANK YOU

    THANK YOU Justin Werner Cameron Peacock Managing Director Investor Relations & Business Development jwerner@nickelindustries.com cpeacock@nickelindustries.com +62 813 8191 2391 +61 439 908 732 RESTRICTED 12

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