Announcement PDF Diggers and Dealers 2023 Presentation Important Notice & Disclaimer This presentation has been prepared by Widgie Nickel Limited (“WIN” or the “Company”) to assist in informing interested parties about the Company. It should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to securities in the Company. No agreement to subscribe for securities in the Company will be entered into on the basis of this presentation. Summary information This presentation may not be reproduced, redistributed or passed on, directly or indirectly, to any other person, or published, in whole or in part, for any purpose without the prior written approval of Widgie Nickel Limited . The material contained in this presentation is for information purposes only. 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Past performance Past performance information given in this presentation is given for illustrative purposes only and should not be relied upon as an indication of (and gives no guidance as to) future performance. Forward-looking information This presentation contains certain forward-looking statements with respect to the operations and business of the Company and certain plans and objectives of the management of the Company. Forward looking statements include those containing such words as "anticipate", "estimates", "forecasts", "should", "could", "may", "intends", "will", "expects", "plans" or similar expressions. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a range of variables and changes in underlying assumptions which could cause actual results or trends to differ materially. Widgie Nickel Limited does not make any representation or warranty as to the accuracy of such statements or assumptions. No liability This presentation has been prepared by Widgie Nickel Limited based on information currently available to it. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. Recipients should carry out their own investigations and analysis of the Company and verify the accuracy, reliability and completeness of the information contained in this presentation or any other form of communication to which the recipient is permitted access in the course of evaluating any investment in the Company. To the maximum extent permitted by law, none of Widgie Nickel Limited or its subsidiaries or affiliates or the directors, employees, agents, representatives or advisers of any such party, nor any other person accepts any liability for any loss arising from the use of or reliance on this presentation or its contents or otherwise arising in connection with it, including without limitation, any liability arising from fault or negligence on the part of Widgie Nickel Limited or its subsidiaries or affiliates or the directors, employees, agents, representatives or advisers of any such party. Financial data All figures in the presentation are Australian dollars ($ or A$) unless stated otherwise. A number of figures, amounts, percentages, estimates, calculations of value and fractions in this presentation are subject to the effect of rounding. Accordingly, the actual calculation of these figures may differ from the figures set out in this presentation. 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Compliance Statement The information in this presentation that relates to estimates of Mineral Resources for the Mt Edwards Nickel Project has been extracted from the Company’s ASX Announcement titled “Widgie grows Mt Edwards Nickel Resource” dated 9 March 2022, which is also available on the Company’s website at www.widgienickel.com.au Widgie Nickel Limited confirms that it is not aware of any new information or data that materially affects the information included in the ASX market announcements listed above and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant ASX market announcements continue to apply and have not materially changed. Widgie Nickel Limited confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the relevant ASX market announcements. 2 Presence of copper, cobalt & PGM’s confirmed potential to capture additional value from byproduct credits $11.80 Million Total Options and PRs on Issue 12.00 Million Shares on Issue 297.5 Million 60 25000 50 20000 40 15000 30 10000 20 Trading Volume ($000) Jun 23 May 23 Apr 23 Mar 23 Feb 23 Jan 23 Dec 22 0 Nov 22 0 Oct 22 5000 Sep 22 10 Aug 22 Located in the nickel-rich Kambalda region of WA, which is increasingly an area of significant interest from major nickel players. $0.20 Cash Jul 22 ~31k Ni tonnes mined across 4 mines 1980 to 2008 – limited exploration undertaken since due to fragmented ownership, providing significant exploration / resource extension upside Strategically positioned next to major infrastructure (road, rail, energy & water) Rapidly growing lithium endowment being unlocked. Faraday-Trainline Lithium Project established within the broader Mt Edwards Project $68 Million Jun 22 Significant Ni Resources of 11.136Mt at 1.50% Ni for 170 kt of Nickel across 12 unique deposits on granted Mining Leases Market Cap IPO Price Shareprice (Cents) 100% owned Mt Edwards Project ~240km2 tenements covering the highly prospective Widgiemooltha Dome $0.23 Trading Volume ($000) Corporate Snapshot Share Price ClosePrice (Cents) Major Shareholders Exposure to the EV and decarbonisation thematic – providing Critical metals for a cleaner future Virtue Investments Corp 10.00% Farjoy 5.03% D Reed 4.87% TOP 20 40.77% 3 33 Experienced Leadership Andrew Parker Steve Norregaard Felicity RepacholiMuir Non-Executive Chair Managing Director & CEO Steve is an experienced resources industry executive, company director, and mining engineer with over 25 years’ experience in executive and operational roles. Andrew holds a Bachelor of Laws (LLB) degree from the University of Western Australia and has significant experience in the resources industry involving corporate advisory, strategic consultancy and capital raisings. Scott Perry Graeme Scott Will Stewart Non-Executive Director Non-Executive Director Company Secretary & CFO Geology Manager Felicity is a broad-based professional geologist with 19 years of experience as a geologist, manager and consultant within the field of mineral exploration and resource development. .Scott has over 20 years of experience in commercial, mining and process engineering roles including over 10 years in executive roles with BHP Billiton Nickel West Pty Ltd. Graeme is a fellow of the Association of Chartered Certified Accountants (UK) with more than 20 years’ experience in professional and corporate roles in both Australia and the UK. Will is a geologist with 18 years experience in exploration, project development and mining. Will has experience across multiple commodities, specializing in nickel sulphide and laterite systems across Western Australia 4 An Increasingly Streamlined Nickel & Lithium Strategy To Realise Significant Value Poised for production across two critical minerals Lithium DSO Production Stage 1 Stage 2 Stage 3 Stage 4 Nickel Concentrate Production Stage 1 Mining approval imminent and offtake agreement with customer for DSO lithium from Faraday currently being finalised, with first revenue anticipated in 2023. Expanded Nickel Scoping Study set to be completed at the end of the current quarter. Stage 2 The revenue from this low-cost lithium DSO initiative in this solid pricing environment gives Widgie the funding source to upgrade the nickel resource and progress the path to development of a standalone concentrator fed by Widgie’s extensive nickel endowment. Stage 3 Scoping Study (SS), preliminary feasibility study (PFS) and permitting at Widgie South set to be progressively advanced, with continued growth of the size and confidence in the nickel and lithium resources anticipated during to this period. Stage 4 Project development. The standalone concentrator will be fed by Widgie South deposits at Widgie Townsite, Widgie 3 and Gillett, with blending options introduced to normalise mill feed from 132N, Munda and Armstrong in initial phase with balance of resources (26N, Inco Boundary McEwen, McEwen Hangingwall & Zabel) to be advanced through feasibility to contribute thereafter Key Facts • Widgie’s flagship Mt Edwards Project hosts 12 nickel deposits and a nearterm lithium development (the Faraday-Trainline Project). • Current nickel MRE of 11.136Mt at 1.5% Ni for 170 kt of Nickel. MRE upgrade on track for the current half, underpinned by significant growth of the Gillett resource. • Maiden lithium MRE of 481,000t @ 0.59% Li2O (@ 0.30% Li2O cut-off), which is set to expand further following Trainline discovery and Faraday extensions. 5 Widgie Now Positioned To Develop A Larger Nickel Mining Operation Than Previously Planned The Armstrong Deposit is on the cusp of being development ready, but will now be incorporated into a broader standalone operation to unlock substantially more value from the entire resource The enhanced financial capacity to consider a standalone nickel concentrator via the emerging lithium DSO opportunity provides Widgie with numerous key benefits:  Widgie can build a plant customized to Widgie ores.  Increased payability via access to multiple customers.  Minimize transport costs and reduced milling costs (owner costs)  Significantly increased cost efficiencies over the longer-term due to economies of scale. Widgie is pivoted to deliver greater earnings across the Ni pricing cycle . 6 The Enabler for a Larger Nickel Operation: Faraday – Trainline Faraday underpins a near-term production opportunity Discovered in Oct 2022 . Maiden drill program confirmed the consistent presence of shallow lithium-bearing pegmatite. Widgie declared the maiden Mineral Resource Estimate (MRE) of 481,000t @ 0.59% Li2O (@ 0.30% Li2O cut-off). Exploration drilling directly north of Faraday unearthed a new near surface lithium occurrenceTrainline. Offtake agreement in advanced discussions. Mining proposal conditional approval July 2023. ACHA Approval requirement outstanding?! 7 Widgie South– Townsite Upside Opportunity for resource growth after excellent exploration success from recent drilling 8 The Nickel Endowment 12 Separate Deposits Positioned To Drive Value Deposit Gillett Widgie 3 Widgie Townsite Munda Armstrong 132N Cooke Inco Boundary McEwen McEwen Hangingwall Mt Edwards 26N Zabel TOTAL Indicated Tonne Nickel (%) (kt) 915 1.6 1,183 1.69 630 34 1.8 2.9 272 3,034 1.94 1.7 Inferred Tonne Nickel (kt) (%) 643 1.3 1.5 626 1,293 1.5 508 1.9 15 4.7 1.9 426 154 1.3 464 1.2 1,133 1.4 1,916 1.4 871 1.4 2.0 53 8,102 1.4 TOTAL Resources Tonne Nickel Nickel (kt) (%) Tonnes 1,558 1.5 23,400 626 1.5 9,160 39,300 2,476 1.6 9,398 508 1.9 645 1.9 12,200 460 2.0 9,050 154 1.3 2,003 464 1.2 5,590 15,340 1,133 1.4 1,916 1.4 26,110 871 1.4 12,400 325 2.0 6,360 11,136 1.5 170,311 Above a 1% Ni cut-off 9 Widgie’s Value Proposition Widgie is unlocking significant latent value across two in-demand critical metals. Early revenue opportunity from a low-cost lithium DSO operation set to crystalise value in the near-term. DSO allows WIN to consider a more substantive nickel mining operation with a standalone concentrator. Nickel mineral resource poised for a considerable upgrade with further lithium endowment to be quantified. The presence of potentially value-accretive Platinum Group Metals at Mt Edwards yet to be fully assessed. WIN with WIDGIE…..WIN with NICKELITHIUM 10 Contact Information www.widgienickel.com.au info@widgienickel.com.au (08) 6381 7250 Level 4/220 St Georges Terrace, Perth WA 6000