Nickel Industries : Quarterly Activities Presentation

BUILDING A NICKEL EMPIRE

only	QUARTERLY ACTIVITIES PRESENTATION
	FOR THE PERIOD ENDED
use	30 June 2022
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Record EBITDA from operations of US$103.2M as Angel Nickel production ramps up and Hengjaya Mine benefits from higher realised ore prices

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June quarter review

Record EBITDA from operations of US$103.2M as Angel Nickel production ramps up and Hengjaya Mine benefits from higher realised ore prices

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Record Ni metal production of 15,567 tonnes (100% basis)

• 39.4% higher than March quarter (11,166 tonnes) with ANI contributing 6, 389 tonnes

Record RKEF revenue of US$315.4M

• driven by record tonnes sold of 15,817 tonnes and higher realised NPI contract prices

Record RKEF EBITDA of US$84.9M

Record HM Mine ore production of 1,313,492 wmt

• saprolite, 792,630 wmt / limonite, 520,862 wmt

Record Hengjaya Mine EBITDA of US$18.4M

Record underlying cash generation from operations of US$102.6M

Completion of a further 20% interest in the Oracle Nickel Project

• Plus US$81.2M of early construction payments to facilitate an expected accelerated October 2022 commissioning

All 4 Angel Nickel RKEF lines now successfully commissioned

• production levels anticipated to increase significantly above nameplate capacity in the September quarter with the project's designated power plant now online

Change of Company name to Nickel Industries Limited

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June quarter summary

			March quarter		June quarter
only	Gross Ni metal production	tonnes	11,166	Record	15,567	39.4%
(100% basis)
NIC attributable Ni metal production	tonnes	8,933	Record	12,453	39.4%
Realised NPI price	$/t Ni	19,368	Record	19,943	3.0%
use	Sales revenue	US$M	195.4	Record	315.4	61.4%
(100% basis)
RKEF EBITDA	US$M	72.8	Record	84.9	16.5%
(100% basis)
RKEF EBITDA/tonne sold	$/t Ni	7,386		5,367	(27.3%)
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Group EBITDA (RKEF + Mine)	US$M	81.7	Record	103.2	26.3%
(100% basis)
Underlying cash generation from operations	US$M	81.3	Record	102.6	26.2%
(100% basis)
Hengjaya Mine production (saprolite + limonite)	wmt	1,073,525	Record	1,313,492	22.4%

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RKEF quarterlyoperating performance

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June quarter

(15,567 tonnes)

• Record quarterly production of 15,567 tonnes Ni production (+39.4% from March qtr) including 6,389 tonnes Ni production from ANI.
• NIC attributable production of 12,453 tonnes.
• Combined HNI and RNI production (9,177 tonnes) expected to return to historical levels (~10,000 tonnes) with new power capacity now online within the IMIP.

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