• Hengjaya Mine sets quarterly record for Adjusted EBITDA at US$45.7m
• Sampala project JORC Resource updated to 1.095 billion wmt at 1.24% Ni
• ENC HPAL integrated commissioning well advanced; first MHP produced on 21 July
• Agreement to acquire 17.5% interest in TMI HPAL and 36% in CNE HPAL
• Executed US$450m unsecured loan facilities

Nickel Industries Ltd has released its June 2026 Quarterly Activities Report, highlighting significant operational achievements and financial performance. The company reported a 58% increase in Adjusted EBITDA to US$120.5m for the quarter, driven by a 50% increase in average realized sale prices for nickel ore at Hengjaya Mine due to Indonesian Government changes to the nickel ore HPM. Hengjaya Mine delivered a record quarterly Adjusted EBITDA of US$45.7m, up 58% on the March quarter. The Sampala project's JORC Resource was updated to 1,095 million wmt at 1.24% Ni, containing 8 million tonnes of nickel metal. The company also announced the integrated commissioning of ENC HPAL, with the first MHP produced in July and the first nickel cathodes expected by mid-August. Additionally, Nickel Industries Ltd executed US$450m unsecured loan facilities and agreed to acquire a 36% interest in the CNE HPAL project and a 17.5% interest in the TMI HPAL project.

Nickel Industries Ltd expects production at Angel Nickel and Oracle Nickel to rebound strongly in the September quarter.

Nickel Industries Ltd anticipates a strong performance in the September quarter, with production at Angel Nickel and Oracle Nickel expected to rebound strongly. The company is well-positioned for future growth with its balance sheet strengthened by the US$450m refinancing and growing cash returns from its portfolio.