• Resource upgrade to 1,095 million wmt at 1.24% Ni and 0.09% Co
• 8 km of 24 km haul road to existing operations is 90% complete
• Final acquisition payment of US$144 million due in April 2027

Nickel Industries Limited has updated the Mineral Resource for the Sampala Project to 1,095 million wet metric tonnes (wmt) at 1.24% nickel (Ni) and 0.09% cobalt (Co), containing 8 million tonnes of nickel and 583 thousand tonnes of cobalt. The Sampala Project comprises three nickel-cobalt mining concessions in Indonesia. The updated resource is one of the largest known nickel resources globally. The Company has made an advance payment of US$28.5 million to secure a 60% equity interest in the ANN mining concession. The final acquisition payment of US$144 million is due in April 2027. Construction of the haul road connecting the Sampala Project to existing operations is 90% complete. The Company continues to work with stakeholders to progress the project.

Final acquisition payment of US$144 million due in April 2027

Nickel Industries expects to receive the ETL feasibility study approval during the June 2026 quarter.