Nickel Industries Limited · ASX:NIC
Nickel Industries — Q3 2026 Earnings Presentation
11 slides from Nickel Industries's earnings presentation, Oct 22, 2026
Slide 1: Quarterly Activities Presentation
Nickel Industries Limited (ASX:NIC) al use only Quarterly Activities Presentation For the period ended 30 September 2026
Slide 2: Safety and ESG Achievements
Safety and ESG Achievements Safety & People Performance Quarterly Milestones Top 20% of Asia Pacific metals and mining peers 0.06 0.67 17.8M ESG Rating in the S&P Global CSA al use only 12-month LTIFR 12-month TRIFR Safe man-hours worked Recognised by ESDM for disaster response; ran a Community tsun
Slide 3: Quarterly Summary
Quarterly Summary US$125.9m Adjusted EBITDA, with record ore sales and EBITDA at Hengjaya Mine and first MHP and nickel cathode from ENC Group operations and corporate highlights Mining – Hengjaya Mine US$125.9m Ore sales Top 20% US$76.9m 4.5m wmt $17.1/wmt Adjusted EBITDA Quarterly S&P Global CSA,
Slide 4: Mining Operations
Mining Operations (1) Production Units Q2 2026 Q3 2026 Variance Mining quarterly performance Saprolite wmt 1,736,274 1,976,658 14% Limonite wmt 2,395,643 4,166,786 74% 4.5m wmt +56% Total wmt 4,131,917 6,143,444 49% Ore sales Overburden BCM (2) 860,930 1,433,933 67% al use only Increase due to a ful
Slide 5: Sampala and Siduarsi Projects
Sampala and Siduarsi Projects Sampala Project ▪ ANN IUP Feasibility Study awaiting evaluation from the Indonesian Government; ETL Feasibility Study remains under regulatory review al use only ▪ Construction of three community bridges supporting logistics and heavy equipment mobilisation was complete
Slide 6: HPAL operations
HPAL operations (1) ENC quarterly performance HNC (and Trading Division) quarterly performance 4,840t Ni & US$13,943/t US$3,888/t US$8.4m -42% 494t Co MHP cash cost Cathode conversion Total adjusted EBITDA al use only cash cost MHP Production 1.9kt Ni +7% HNC attributable nickel sales COMMISSIONING
Slide 7: ENC overview by segment
ENC overview by segment Watch progress FPP · Feed Preparation Plant located at Hengjaya Mine 1 HPAL Smelter · High Pressure Acid Leach smelter 2 al use only Integrated Refinery · Sulphate and cathode refinery 3 Finished products · Ni & Co in MHP and nickel cathode 4 7
Slide 8: RKEF operations
RKEF operations (1) RKEF quarterly performance Production Units Q2 2026 Q3 2026 Variance 27,822t Flat NPI production tonnes 245,601 239,959 (2%) Nickel production al use only Nickel grade % 11.3 11.6 2% Scheduled maintenance to HNI RKEF line Total nickel tonnes 27,864 27,822 - production US$13,054/t
Slide 9: Cash flow overview
Cash flow overview Cash flow waterfall - September 2026 quarter (US$m) Cash flow summary (US$12.2m) Cash flow Cash movements were driven primarily by working capital. RKEF (US$12.2m) cash flow before and Mine trade receivables increased, the latter on sales up 56% growth and debt al use only quarter
Slide 10: FY26 guidance
FY26 guidance YTD progress against FY26 guidance midpoint Guidance (2) Units YTD Sep-26 FY26 outlook 73% Mine consolidated sales Sampala development al use only 10.4M of 14.3M wmt; RKAB increase to 19M wmt sought US$m 37.5 48–53 capex 81% Maintenance capex US$m 13.5 18–20 RKEF consolidated sales 85.
Slide 11: Further information
Further information Justin Werner Andrew Coleman Managing Director Head of Investor Relations al use only jwerner@nickelindustries.com acoleman@nickelindustries.com 11