Canada Nickel Company Inc · TSXV:CNC
Canada Nickel — Investor Presentation (May 2026)
36 slides from Canada Nickel's investor presentation, May 19, 2026
Slide 1: Delivering the Next Generation of Nickel
TSX-V: CNC May 2026 Delivering the Next Generation of Nickel www.canadanickel.com
Slide 2: Forward-Looking Statements
Forward-Looking Statements This Presentation contains certain information that may constitute "forward-looking information" under applicable Canadian securities legislation about Canada Nickel Company Inc. ("CNC" or the "Company"). All statements, other than statements of historical fact, are forwar
Slide 3: Investment Highlights
Investment Highlights The Nickel 1 Crawford is the 2 Strategic 3 Timmins Nickel: 4 Zero-Carbon 5 Market is at an Asset the Market Shareholders, District-Scale Potential, Inflection Point Needs Significant Upside Not Downstream Government Priced In Provides Further Indonesian supply Canada's Federal
Slide 4: The Nickel Market is at an Inflection Point
1. The Nickel Market is at an Inflection Point Steady demand and emerging supply-side dynamics are creating urgency for western world nickel
Slide 5: Nickel Demand Is Expected to Double by 2030 Driven by EVs and Structural Stainless Growth
Nickel Demand Is Expected to Double by 2030 Driven by EVs and Structural Stainless Growth Global Nickel Demand (Mtpa) 5.1 • ~7% annual demand growth since 2019, 3–4× faster than 1.0 Battery (EV) other base metals • Demand expected to double 3.6 by 2030 to ~5Mt, with 0.4 upside to ~6Mt+ 2.8 2.4 0.3 •
Slide 6: Indonesia Now Controls More Nickel Supply Than OPEC Ever Controlled of Oil
Indonesia Now Controls More Nickel Supply Than OPEC Ever Controlled of Oil Share of Global Supply Controlled (%) Indonesian Export Revenue as % of Total Exports Indonesia holds 67% of global nickel supply, 13 Nickel’s dominant share of Indonesia’s exports creates a strong points above OPEC's all-tim
Slide 7: Indonesia is Already Influencing the Market – Supply is Being Cut and Prices Are Up
Indonesia is Already Influencing the Market – Supply is Being Cut and Prices Are Up More Than $5,000 / tonne (+$2/lb) LME Nickel Price ($/tonne) Indonesian supply-side actions already taken 35,000 Apr 2026 Indonesia announces changes to 30,000 minimum price formula (HPM) Nickel prices have Jan 2026
Slide 8: Crawford is the Asset the Market Needs
2. Crawford is the Asset the Market Needs Fast-tracked by both levels of government as a national priority A large-scale, long-life, low-cost nickel sulphide project set to be largest in Western World
Slide 9: Canada's Federal and Provincial Governments Have Fast-Tracked Crawford as a National Priority
Canada's Federal and Provincial Governments Have Fast- Tracked Crawford as a National Priority “ Crawford will set the global standard for the future of responsible mining. “ Going full-tilt to unlock one of the world's largest nickel deposits to supercharge our economy and end China's critical mine
Slide 10: One of the Largest Nickel Reserves in the World, in one of Canada's Premier Mining Camps
One of the Largest Nickel Reserves in the World, in one of Canada’s Premier Mining Camps Tier 1 jurisdiction with strong permitting track record • Ontario ranked among the top global mining jurisdictions (Fraser Institute) • Low geopolitical risk vs. Indonesia and emerging markets • Located in Timmi
Slide 11: Crawford is One of the Largest and Most Scalable Nickel Projects Globally
Crawford is One of the Largest and Most Scalable Nickel Projects Globally Proven and Probable Nickel Reserves: Top 5 Global (Mt Contained Nickel)(1) #2 8.7 Producer Developer Globally by nickel reserves (P&P) 3.8 2.8 1.9 1.2 3.8Mt contained Ni – Second only to Norilsk, Russia Norilsk Crawford Weda B
Slide 12: FEED Results Re-Affirm Crawford's Robust Economics
FEED Results Re-Affirm Crawford's Robust Economics FEED results build on BFS, improving value while reducing execution risk Scale Cost NPV increased to $2.8B Only ~5% capex increase, Metric BFS (2023) FEED (2025) Change through mine plan achieved with strong optimization capital discipline NPV (8%)
Slide 13: Crawford's C1 Cost of US$0.39/lb Sits Firmly in the First Quartile
Crawford's C1 Cost of US$0.39/lb Sits Firmly in the First Quartile of All Nickel Global Producers Global Nickel Cost Curve (C1 Cash Cost, $/lb) 15 • Life-of-mine net C1 cash cost of US$0.39/lb 10 and AISC of ~US$1.54/lb Net C1 Cash Costs (US$/lb) • First quartile cost position driven by scale, 5 hig
Slide 14: Management Team: Deep Nickel Expertise from Inco, Vale, Agnico, and Global Capital Markets
Management Team: Deep Nickel Expertise from Inco, Vale, Agnico, and Global Capital Markets Management Mark Selby, CEO, B.Comm. Steve Balch, VP, Exploration, P.Geo. Chris Chang, VP, Corp. Development • Previous CEO of Royal Nickel Corporation • 35 years in Ni-Cu-PGE geophysics, including • 17 years i
Slide 15: Capital Structure
Capital Structure Strategic Shareholders Research Coverage Pro Forma Capitalization Ticker TSXV: CNC Share Price (C$) $1.79 Market Capitalization (C$M) $431 Cash & Equivalents(1) (C$M) $14 Debt(1) (C$M) $42 Basic Shares Outstanding 240.9 Market Data Stock Options and RSUs 20.6 Warrants 20.7 20-Day V
Slide 16: Strategic Shareholders, Significant Government Support
3. Strategic Shareholders, Significant Government Support Global industry Leaders & First Nations Investors Government funding minimizes equity dilution
Slide 17: Strong Shareholder Support, First Nations Investment
Strong Shareholder Support, First Nations Investment 9.1% 6.5% Samsung SDI Offtake US$100M World’s premier senior gold major invested post-full Tier-1 battery manufacturer and anchor offtake partner, Acquisition Option technical due diligence on Crawford’s geology, reduces commodity price risk and d
Slide 18: Clear US$2.5B Funding Plan with Significant Non-Dilutive Government Support and Equity Leverage
Clear US$2.5B Funding Plan with Significant Non-Dilutive Government Support and Equity Leverage Equity: 40% Debt:60% Equity: $1.0B Debt: $1.5B Government Investment Tax Credits ($600M) Canadian Agency Project Debt • ~$600M in Investment Tax Credits (CleanTechnology Manufacturing + CCUS) • LOI from E
Slide 19: Permits, Financing, and Construction All Converge in 2026 with First Production by 2029
Permits, Financing, and Construction All Converge in 2026 with First Production by 2029 2024 2025 2026 2027 2028 2029 Environmental Impact Final permits targeted (summer 2026) Permitting Statement (EIS) filed Federal review complete Full financing package targeted (Year end 2026) Financing EDC manda
Slide 20: The Timmins Nickel District – District Scale Upside Not Priced In
4. The Timmins Nickel District – District Scale Upside Not Priced In CNC has already identified more nickel than Sudbury – and is still drilling
Slide 21: Timmins Nickel District Potential to be World's Largest Sulphide District
Timmins Nickel District Potential to be World’s Largest Sulphide District Consolidated 20+ targets, Strong Project Pipeline 25X the 1.6 km2 target footprint at Crawford • 18 properties successfully drilled • 10 properties have target footprint larger than Crawford • 98% success rate in intersecting
Slide 22: Timmins Nickel District & Canada Nickel: More Contained Nickel than Sudbury
Timmins Nickel District & Canada Nickel More Contained Nickel than Sudbury Timmins Nickel Discovery of Key Sulphide Deposits District (25+) Canada Nickel Sudbury Jinchuan Norilsk-Polar Crawford Norilsk-Kola Reid Mann West Mann Central Midlothian Deloro Bannockburn Texmont Source: Vale presentation a
Slide 23: Canada Nickel Resources Hosted Across Eight Deposits
Canada Nickel Resources Hosted Across Eight Deposits Significant Update Potential Remains – 12+ Targets Eight resources now published containing 10.1 million tonnes of Measured & Indicated nickel (4.3 billion tonnes @ 0.24% nickel) and 12.5 million tonnes of Inferred nickel (5.4 billion tonnes @ 0.2
Slide 24: Zero-Carbon Potential, Downstream Processing Provides Further Optionality
5. Zero-Carbon Potential, Downstream Processing Provides Further Optionality Three carbon pathways and downstream processing turn Timmins Nickel District anchor potential zero-carbon industrial cluster
Slide 25: Proprietary IPT Carbonation Stores 1.5Mt CO2/Year and Expected to Qualify for CCUS Tax Credit
Proprietary IPT Carbonation Stores 1.5Mt CO2/Year and Expected to Qualify for Canada’s CCUS Tax Credit Drill core October 2021 vs. October 2020 demonstrate IPT Carbonation spontaneous CO2 capture White minerals on surface are carbonated minerals The tax credit framework • IPT Carbonation capex expec
Slide 26: Three Carbon Sequestration Pathways Support Vision for a Zero-Carbon Industrial Cluster
Three Carbon Sequestration Pathways Support Vision for a Zero- Carbon Industrial Cluster Three pathways to permanent CO₂ storage IPT Carbonation NetCarb Alliance UT Austin / DOE Partnership 1.5Mt CO₂/year 10–15Mt CO₂/year CO₂-to-Rock Primary pathway Scale-up pathway Technology pathway • CO₂ minerali
Slide 27: Downstream Nickel Processing & Stainless-Steel Facilities in the Timmins Region
Downstream Nickel Processing & Stainless-Steel Facilities in the Timmins Region Fully integrated downstream processing enhanced by carbon sequestration • Potential to be the largest nickel processing facility in North America and largest stainless-steel and alloy production facility in Canada to fil
Slide 28: Why Own CNC Now
The Market is at an Inflection Point Why Own 1. Indonesian supply discipline is tightening the market while decades of underinvestment have left a structural gap in scalable Western supply CNC Now 2. Crawford is the Asset the Market Needs A large-scale, long-life nickel sulphide project positioned t
Slide 29: Appendix
@) CANADA NICKEL Nap COMPANY Appendix
Slide 30: Crawford BFS Confirms Robust Economics at Scale
Crawford BFS Confirms Robust Economics at Scale The Crawford Bankable Feasibility Study demonstrates strong financial returns based on a large resource with significant upside potential. • US$2.5 billion after-tax NPV8; ($2.6 billion including expected Carbon Capture & Robust Economics Storage tax c
Slide 31: Crawford's Low-Cost Profile Positions It in the First Quartile
Crawford's Low-Cost Profile Positions It in the First Quartile Two-phase production plan peaks at nickel production of 48ktpa with a life-of-mine AISC of US$1.54/lb ($3,395 per tonne). Unit Phase I Phase II Phase III Life-of-Mine (Years 1 – 3.5) (Years 3.5 – 29) (Years 30 – 41) (Years 1 – 41) Mill C
Slide 32: FEED Helps De-Risk Crawford With Only 5% Capex Increase and US$300M NPV Uplift
FEED Helps De-Risk Crawford With Only 5% Capex Increase and US$300M NPV Uplift Front End Engineering and Design (“FEED”) activities for the Crawford Project were completed by the Company’s consultants: • Engineering activities focused on the initial capital cost • The mine plan was also re-sequenced
Slide 33: Crawford BFS Delivers US$2.8B NPV8% and 17.1% After-Tax IRR
Crawford BFS Delivers US$2.8B NPV₈% and 17.1% After-Tax IRR Phase I Phase II Phase III LOM Ownership: 100% Unit (Years 1 - 3.5) (Years 3.5 - 29) (30 - 41) (Years 1 - 41) Mine Type Type Open Pit Capital Expenditures Initial & Expansion US$ millions $1,943 $1,600 $0 $3,543 Sustaining & Closure US$ mil
Slide 34: Crawford Reserves Underpin 25-Year Mine Life With 1.8Bt at 0.24% Ni
Crawford Reserves Underpin 25-Year Mine Life With 1.8Bt at 0.24% Ni Crawford Mineral Reserves (effective August 31, 2023) Ore Grade Contained Metal CO₂ (Mt) Cat. (Mt) Ni % Co % Pd (g/t) Pt (g/t) Fe % Cr % Brucite % Ni (kt) Co (kt) Pd (koz) Pt (koz) Fe (Mt) Cr (kt) Capture HG Main Zone Proven 208 0.3
Slide 35: Reid's Initial Resource Covers Only 55% of Target — Upside Remains Significant
Reid's Initial Resource Covers Only 55% of Target — Upside Remains Significant Initial Reid resource published in December 2024 – resource is only 55% of Reid’s target footprint which is more than twice the size of Crawford project. Significant Resource Outlined Reid vs Crawford Target Footprint wit
Slide 36: Contact
TSX-V: CNC 130 King St West Suite 1900 Toronto ON M5X 1E3 +1 (647) 256-1954 info@canadanickel.com info@canadanickel.com www.canadanickel.com www.canadanickel.com Twitter: @CanadaNick
Canada Nickel Company — Investor Presentation (May 2026) on 6ix