Nickel Industries Limited · ASX:NIC
Nickel Industries — Q1 2026 Earnings Presentation
11 slides from Nickel Industries's earnings presentation, Apr 29, 2026
Slide 1: Quarterly Activities Presentation
For personal use only Nickel Industries Limited (ASX:NIC) Quarterly Activities Presentation For the period ended 31 March 2026
Slide 2: Safety and Sustainability
Safety and Sustainability ▪ The Company-wide 12-month lost time injury frequency rate (LTIFR) as at For personal use only end of March 2026, was 0.00, with no lost time injuries (LTI) recorded during the quarter, against 4.8 million safe man hours registered. For the twelve months to 31 March 2026,
Slide 3: March 2026 Quarter review
March 2026 Quarter review US$135.6m Adjusted EBITDA from Operations. Strong quarter across all segments For personal use only ▪ RKEF nickel metal production of 30,264 tonnes – 4% lower than December quarter (31,561 tonnes) ▪ RKEF Adjusted EBITDA of US$85.8m – 145% higher than December quarter (US$35
Slide 4: RKEF operations
RKEF operations (1) ▪ RKEF NPI production of 274,086 tonnes was up 2% For personal use only Production Units Q4 2025 Q1 2026 Variance from the December quarter whilst production in nickel tonnes of 30,264 tonnes was down 4% from the NPI production tonnes 269,528 274,086 2% December quarter due to a
Slide 5: HPAL operations
HPAL operations (1) ▪ Adjusted EBITDA of US$20.7m, up 21% from For personal use only Production Units Q4 2025 Q1 2026 Variance December quarter Ni tonnes 2,144 2,153 0% – attributable HNC EBITDA of US$16.6m, up 29% Attributable HNC with higher MHP prices partially offset by higher Production Co tonn
Slide 6: ENC Project update
ENC Project update For personal use only ▪ ENC completed pre-commissioning of major processes and infrastructure including the power, water, acid plant, counter current decantation circuit, thickeners, precipitation tanks, storage tanks and autoclaves at the Smelter. Additional resources were alloca
Slide 7: Mining operations
Mining operations (1) ▪ Hengjaya Mine rebounded strongly following the RKAB Production Units Q4 2025 Q1 2026 Variance For personal use only disruption that impacted the December quarter Saprolite production wmt 445,902 1,312,762 194% Limonite production wmt 1,220,171 2,646,322 117% ▪ Nickel ore prod
Slide 8: Sampala and Siduarsi Projects
Sampala and Siduarsi Projects For personal use only ▪ The Sampala Project continues to progress well. The Company submitted the feasibility study for the ANN IUP during the quarter and expects to receive the ETL feasibility study approval next quarter ▪ Internal haul roads (8 km) between ETL and ANN
Slide 9: Cash flow waterfall
Cash flow waterfall Cash flow waterfall - March 2026 quarter (US$m) ▪ Cash decreased during the quarter due to the following: For personal use only - Management prioritised the purchase and stockpiling of saprolite 400 ore inventory in response to industry-wide RKAB cuts 11 361 3 350 - Timing of HPA
Slide 10: Debt refinancing has strengthened the capital structure
Debt refinancing has strengthened the capital structure Debt maturity profile (prior to refinancing) (US$m) (1) ▪ Subsequent to quarter end, the Company established US$450m For personal use only new unsecured facility (US$350m term loan and US$100m revolver) 1000 WAL of 3.5 years 800 ▪ Refinances US
Slide 11: Further information
Further information For personal use only Justin Werner Andrew Coleman Managing Director Head of Investor Relations jwerner@nickelindustries.com acoleman@nickelindustries.com 11