Atlas Salt Inc · TSXV:SALT
Atlas Salt — Investor Presentation (February 2026)
32 slides from Atlas Salt's investor presentation, Feb 23, 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 4 Introducing The Great Atlantic Salt Project 5 Why Atlas Salt: Strategic Value & Long-Term Cash Flow Generation 10 Salt Market Overview 14 Competitive Advantages & Strategic Location 17 Project Economics & Valuation Benchmarks 21 Sus
Slide 4: The Great Atlantic Salt Project ("SALT")
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: Why Atlas Salt: Strategic Value & Long-Term Cash Flows
TSXV: SALT OTCQX: SALQF WHY ATLAS SALT: STRATEGIC VALUE & LONG-TERM CASH FLOWS FSE: 9D00 AtlasSalt.com 1 Strategic Infrastructure-Like Asset 3 Macro Tailwinds Signal Domestic Relevance • >24-year mine life (reserves only) supports • Significant salt shortage in North America is infrastructure-like c
Slide 6: Infrastructure-Like Scale & Predictability
TSXV: SALT OTCQX: SALQF INFRASTRUCTURE-LIKE SCALE & PREDICTABILITY FSE: 9D00 AtlasSalt.com Long-Duration Asset Life With Upside Median Life of Mine for Key 4 • >24-year mine life supported by current Reserves1 Commodities (FactSet) • >50 more years of potential based on current Inferred Resources2 3
Slide 7: Quality & Durable FCF Underpins Value
TSXV: SALT OTCQX: SALQF QUALITY & DURABLE FCF UNDERPINS VALUE FSE: 9D00 AtlasSalt.com Passage of Time Creates Value for Atlas Salt Annual NAV Progression & Free Cash Flow 1 • Net Asset Value ("NAV") is a function of future cash NPV8 of Future Cash Flows Accumulated Net Cash flows AND accumulated net
Slide 8: Targeting Robust Capital Return Strategy
TSXV: SALT OTCQX: SALQF TARGETING ROBUST CAPITAL RETURN STRATEGY FSE: 9D00 AtlasSalt.com Quality FCF Empowers Robust Capital Return Strategy Illustrative FCF/Shr In Production Years Years 1 - 8: Production Ramp & Deleveraging Variable Years 1-8 Years 9-24 • Average annual FCF of ~$161M (unlevered)1
Slide 9: Life of Mine Extension Initiatives
TSXV: SALT OTCQX: SALQF LIFE OF MINE EXTENSION INITIATIVES FSE: 9D00 AtlasSalt.com Current Reserves Support >24 Year Mine Life Illustrative Graphic of Horizontal Drilling3 • 91.1Mt of Contained NaCl Reserves from 368Mt of Contained NaCl Indicated Resource1 • Deposit remains open in all directions, i
Slide 10: Overview of Salt Market
TSXV: SALT OTCQX: SALQF OVERVIEW OF SALT MARKET FSE: 9D00 AtlasSalt.com US$26B Global Salt Market in 20241: Atlas Salt is Focused on Serving the North Various End Markets & Concentrated Supply American Salt Market for De-Icing 1 Estimated Annual North American De-Icing Salt Market Size: $26B USD 28.
Slide 11: 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 12: 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 "Nothing left so ship': Eastern Ontario municipalities grapple with road salt shortage... one of the worst thi
Slide 13: 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 14: 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 15: 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 16: 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 17: Robust Project Economics
TSXV: SALT OTCQX: SALQF 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 ~14x $1.5B LOM Cumulative Post- LOM Average Annual Net 21.3% IRR NPV8 Tax Cash Flow4 Revenue ~9x $920M $32
Slide 18: 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$1,333M
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 C
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 Select Milestone Priorities Illustrative P/NAV ranges as a mining company SALT production estimated by 2030 ✓ Environmental Assessment advances deve
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 23, 2026) Globally Significant Underground Salt Mine Ticker Symbol TSXV:SALT Last Price $0.95 Strategically Positioned to Serve the Heavil
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: 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 31: 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 32: 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