Atlas Salt Inc · TSXV:SALT
Atlas Salt — Investor Presentation (February 2026)
30 slides from Atlas Salt's investor presentation, February 2026
Slide 1: Developing the Great Atlantic Salt Project: North America's First New Salt Mine in Nearly Three Decades
Developing the Great Atlantic Salt Project: North America's First New Salt Mine in Nearly Three Decades TSXV:SALT | February 2026
Slide 2: Disclaimer & Forward-Looking Statements
TSXV: SALT OTCQX: SALQF DISCLAIMER & FORWARD-LOOKING STATEMENTS FSE: 9D00 AtlasSalt.com This presentation includes certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All
Slide 3: Table of Contents
TSXV: SALT OTCQX: SALQF TABLE OF CONTENTS FSE: 9D00 AtlasSalt.com 5 Salt Market Overview 10 Competitive Advantages & Strategic Location 14 Resource & Project Economics 21 Sustainability & Community Impact 23 Go-Forward Plan & Value Creation 25 Management & Board 27 Capitalization Table 29 Approved P
Slide 4: The Great Atlantic Salt Project
TSXV: SALT OTCQX: SALQF THE GREAT ATLANTIC SALT PROJECT ("SALT") FSE: 9D00 AtlasSalt.com Developing a world-class salt mine (4 Mtpa of Large-Scale nameplate production capacity) and the newest Global Relevance salt mine in North America in ~30 years1 Newfoundland, Canada, a top-tier global Strategic
Slide 5: Overview of Salt Market
TSXV: SALT OTCQX: SALQF OVERVIEW OF SALT MARKET FSE: 9D00 AtlasSalt.com US$26B Global Salt Market in 20241: SALT is Focused on Serving the North American Various End Markets & Concentrated Supply Salt Market for De-Icing 1 Estimated Annual North American De-Icing Salt Market Size: $26B USD 28.5 Mt -
Slide 6: North America Is Reliant on Salt Imports
TSXV: SALT OTCQX: SALQF NORTH AMERICA IS RELIANT ON SALT IMPORTS FSE: 9D00 AtlasSalt.com Great Atlantic Salt's Planned Production is Easily Absorbed by the Current Market Deficit Total North American 2 De-Icing Salt Imports: 8 Mtpa - 10 Mtpa1 67.5 Mt of salt imported Egypt Mexico Carribean to U.S. f
Slide 7: Road Salt Shortages in North America
TSXV: SALT OTCQX:SALQF ROAD SALT SHORTAGES IN NORTH AMERICA FSE: 9D00 AtlasSalt.com Road Salt Shortages and Price Increases Highlight Market Fragility; Substantiates Appetite for New Supply "Road salt shortage for second time in less than a year... price for wholesale road salt has also climbed... f
Slide 8: Key North American Salt Events Since 2001
TSXV: SALT OTCQX: SALQF KEY NORTH AMERICAN SALT EVENTS SINCE 2001 FSE: 9D00 AtlasSalt.com Closures & Environmental Issues At Legacy Salt Mines Highlight Need For New Domestic Salt Supply; No Other Salt Mines or Expansion Projects Currently Planned in North America Comparable to Atlas Salt 2001 2020
Slide 9: Major Recent Transaction: US Salt Acquired
TSXV: SALT OTCQX: SALQF MAJOR RECENT TRANSACTION: US SALT ACQUIRED FSE: 9D00 AtlasSalt.com Highlights recession-resilient & stable growth characteristics of salt1 • 16.5x EV / LTM EBITDA2,3 • Blue-Chip Investor Participation1 to be acquired by • US Salt Profile1,2 o Vertically integrated producer of
Slide 10: Market Proximity = Competitive Advantages
TSXV: SALT OTCQX: SALQF MARKET PROXIMITY = COMPETITIVE ADVANTAGES FSE: 9D00 AtlasSalt.com 3 Days to Ship to Boston from SALT Local Supply Advantages vs >14 Days from Egypt or Chile 1 • Displacing portion of overseas imports • Serving Buy Canadian/North American sentiment SALT • De-risks security of
Slide 11: Located in a Top-Tier Mining Jurisdiction
TSXV: SALT OTCQX: SALQF LOCATED IN A TOP-TIER MINING JURISDICTION FSE: 9D00 AtlasSalt.com SALT Great Atlantic Salt • Newfoundland & Labrador ("NL") was rated the 9th best mining jurisdiction globally by Fraser Institute in 2025 based Infrastructure / Town on mineral content and government policy ali
Slide 12: Established Infrastructure & Mining History
TSXV: SALT OTCQX: SALQF ESTABLISHED INFRASTRUCTURE & MINING HISTORY FSE: 9D00 AtlasSalt.com Region Has Long History of Mining & Shipping Ship Loading Legend Conveyor Existing Infrastructure Planned Infrastructure Prolific gypsum Turf Point Deep Water Port Operating limestone Conveyor mining area sin
Slide 13: Key Outcomes - 2025 Updated Feasibility Study
TSXV: SALT OTCQX: SALQF KEY OUTCOMES - 2025 UPDATED FEASIBILITY STUDY FSE: 9D00 AtlasSalt.com Significantly De-Risked Project With Substantial The Great Atlantic Salt Project's Design Has Been Improvements to Economics & Design1 Proven At Irish Salt Mining's Kilroot Mine2 1. Shorter mine life pulled
Slide 14: A World-Class Resource...
TSXV: SALT OTCQX: SALQF A WORLD-CLASS RESOURCE... FSE: 9D00 AtlasSalt.com Ideal Shape & Uniquely Shallow Depth Reserve Class3 Grade (% NaCl) Tonnes (Mt) Contained NaCl (Mt) • Homogenous, shallow resource is accessible Probable 95.9 95.0 91.1 via declines as opposed to costly shaft sinking Resource C
Slide 15: ... Drives Robust Project Economics
TSXV: SALT OTCQX: SALQF … DRIVES ROBUST PROJECT ECONOMICS FSE: 9D00 AtlasSalt.com Post-Tax 2025 Base Price Sensitivity Analysis1 Select Financial Metrics for Great Atlantic Salt1,2 25.0% IRR $4.6B $407M ~24x $1.5B LOM Cumulative Post- LOM Average Annual Net NPV8 Tax Cash Flow4 Revenue 21.3% IRR ~15x
Slide 16: Comparable Salt Asset Valuation Benchmarks
TSXV: SALT OTCQX:SALQF COMPARABLE SALT ASSET VALUATION BENCHMARKS FSE: 9D00 AtlasSalt.com Comparables Offer Market Insights On Public & Private Salt Asset Valuation Benchmarks Company Compass Minerals1 K+S Americas Salt2 US Salt3 Atlas Salt UFS4 Status Public Private Private Public Revenue US$1,244M
Slide 17: Summary of 2025 Updated Feasibility Study
TSXV: SALT OTCQX: SALQF SUMMARY OF 2025 UPDATED FEASIBILITY STUDY FSE: 9D00 AtlasSalt.com Select Operating Metrics 2023 FS1 2025 UFS2 Var High-Grade Resource Base Mine Life (Years) 34 24.3 -26% Atlas hosts one of North America's highest-purity salt deposits, Avg. LOM Production Capacity (Mtpa) 2.5 4
Slide 18: Optimized Production Profile with Upside
TSXV: SALT OTCQX: SALQF OPTIMIZED PRODUCTION PROFILE WITH UPSIDE FSE: 9D00 AtlasSalt.com 2023 FS (Bottom) 2025 UFS Change (Top) 2023 FS 5 De-Risked Production With Upside1,2 2025 UFS pulled forward production vs 2023 FS to shorten mine life, increase annual production, & optimize project economics1,
Slide 19: Strong Cash Flow Generation Through LOM
TSXV: SALT OTCQX: SALQF STRONG CASH FLOW GENERATION THROUGH LOM FSE: 9D00 AtlasSalt.com 2023 FS After-Tax Cash Flow (Bottom) UFS Change in After-Tax Cash Flow (Top) Cumulative After-Tax Cash Flow (UFS) Cumulative After-Tax Cash Flow (FS) $188M 300 4,200 2025 UFS pulled forward production vs 2023 FS,
Slide 20: The Vision: An Innovative Mine Design
TSXV: SALT OTCQX: SALQF THE VISION: AN INNOVATIVE MINE DESIGN FSE: 9D00 AtlasSalt.com Underground Mining & Processing • Deposit geometry allows for a compact, efficient site layout with consistent ore access and reduced development time • Shallow depth (~180m) supports rapid Settling Pond ~2km to Tu
Slide 21: Substantial Community & Economic Impact
TSXV: SALT OTCQX: SALQF SUBSTANTIAL COMMUNITY & ECONOMIC IMPACT FSE: 9D00 AtlasSalt.com Local Economic Contributions1 • $2.7B in tax revenue, much of it staying local • $1.9B in household spending across NL • $90M to municipalities • Multi-generational economic engine for Newfoundland and Labrador E
Slide 22: Environmental Assessment Completed
TSXV: SALT OTCQX: SALQF ENVIRONMENTAL ASSESSMENT COMPLETED FSE: 9D00 AtlasSalt.com Electrified, Low-Emissions Operation With Industry-Leading Environmental Performance Great Atlantic Salt's Projected GHG Intensity NL Environmental Minister released SALT from Among the Lowest in Global Mining2 provin
Slide 23: Select Strategic Agreements Secured
TSXV: SALT OTCQX: SALQF SELECT STRATEGIC AGREEMENTS SECURED FSE: 9D00 AtlasSalt.com Salt Production Off-Take Agreement Equipment Financing Engineering Lead Memorandum of MOU for provision of mining MOU establishing Hatch Understanding ("MOU") with equipment & engineering as the Lead Engineering Scot
Slide 24: Positioned for Re-Rate & Value Creation
TSXV: SALT OTCQX: SALQF POSITIONED FOR RE-RATE & VALUE CREATION FSE: 9D00 AtlasSalt.com Case Study: Tracking the Lassonde Curve En Route to Production1,2 Select Milestone Priorities Artemis Gold's Path: An Illustrative Case Study of SALT production estimated by 2030 ✓ Environmental Assessment Re-Rat
Slide 25: Management Team
TSXV: SALT OTCQX: SALQF MANAGEMENT TEAM FSE: 9D00 AtlasSalt.com Nolan Peterson Jeffrey Kilborn Robert Booth Andrew Smith CEO & Director CFO & VP, Corporate VP, Eng. & Construction Project Director & Development General Manager • 20+ years in mine • Former CFO of • Delivered $1.5B+ in • 10+ years in
Slide 26: Board of Directors
TSXV: SALT BOARD OF DIRECTORS OTCQX: SALQF FSE: 9D00 AtlasSalt.com Patrick Laracy - Founder & Chairman Bob Kelly - Director Founder of Atlas Salt with 30+ years in Professional geoscientist with over 40 years in resource exploration and development. senior mining roles. Former VP at Teck Seasoned le
Slide 27: A Compelling Investment Opportunity
TSXV: SALT OTCQX: SALQF A COMPELLING INVESTMENT OPPORTUNITY FSE: 9D00 AtlasSalt.com Developing a World-Class & Unique Resource Into a Capital Structure (February 3, 2026) Globally Significant Underground Salt Mine Ticker Symbol TSXV:SALT Last Price $1.04 Strategically Positioned to Serve the Heavily
Slide 28: Mineral Reserves & Resources
TSXV: SALT OTCQX: SALQF MINERAL RESERVES & RESOURCES FSE: 9D00 AtlasSalt.com Reserve Notes: Reserve Grade (% Tonnes Contained NaCl Horizon 1. CIM (2014) definitions were followed for Mineral Resources. Class1 NaCl) (Mt) (Mt) 2. Salt prices are not directly incorporated into the Mineral Reserve desig
Slide 29: Approved Permits
TSXV: SALT OTCQX: SALQF APPROVED PERMITS FSE: 9D00 AtlasSalt.com ✓ Environmental Assessment ✓ Early Works Development Plan ✓ Environmental Protection Plan – Construction-Phase Mitigations ✓ Waste Management Plan – handling, Storage, transport, and Disposal ✓ Water Resource Management Plan – Drainage
Slide 30: North America's Top Producing Salt Mines
TSXV: SALT OTCQX: SALQF NORTH AMERICA'S TOP PRODUCING SALT MINES FSE: 9D00 AtlasSalt.com North America's Legacy Salt Mines Are Old With Many Subjected to Challenging Operating Conditions; Atlas Salt Offers Fresh, Generational, & Relatively Simple Salt Supply For East Coast Markets SALT Picadilly Min