Widgie Nickel : AGM Presentation - 31 March 2022

2022 AGM Presentation

31 March 2022

www.widgienickel.com.au

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

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This presentation may not be distributed or released in the United States. Securities may not be offered or sold in the United States unless such securities are registered under the U.S. Securities Act of 1933, as amended ("U.S. Securities Act") or in a transaction exempt from, or not subject to, the registration requirements of the U.S. Securities Act and any other applicable securities laws. Each institution or person that reviews this presentation will be deemed to represent that each such institution or person is not in the United States.

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Not financial product advice

Reliance should not be placed on the information or opinions contained in this presentation. This presentation is for information purposes only and is not financial product or investment advice, nor a recommendation to acquire securities in the Company (or any interest in Company securities). It has been prepared without taking into account the objectives, financial situation or needs of individuals. Before making any investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and seek legal and taxation advice appropriate to their jurisdiction.

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.

Photographs and diagrams

Photographs and diagrams in the presentation are for illustration purposes only and should not be interpreted to mean that any person shown in them endorses this presentation or its contents or that the assets shown in them are owned by Widgie Nickel Limited. Diagrams and maps used in this presentation are illustrative only and may not be drawn to scale. Unless otherwise stated, all data contained in charts, graphs and tables is based on information available as at the date of this presentation.

Compliance Statement

The information in this presentation that relates to Exploration Results and estimates of Mineral Resources for the Mt Edwards Nickel Project has been extracted from the Company's Prospectus dated 19 August 2021, which is also available on the Company's website atwww.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.

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Overview

Value Proposition - Widgie Nickel

Tier one jurisdiction and infrastructure support focus on returning Mt Edwards to production

Widgie presents investors with a compelling basement level opportunity to gain exposure to the clean energy future

Set to leverage off ✓ a large nickel sulphide resource base in a globally significant nickel district

• • 10.684Mt at 1.60% Ni for 168.15kt of Ni.

• • Ample capacity to grow

Production track record 4 historical mines

Secure tenure- All resources on granted mining leases. (240sq.km)

Proximal to significant infrastructure (roads, rail, power and water); Located 80km south of Kalgoorlie, 45km via sealed road to the Kambalda Nickel Concentrator

Significant value in historical database

Significant resource extension and exploration upside potential:

• • Brownfields - resource extension drilling across 12 known deposits

• • Greenfields - 40 high priority targets,

Latent value identified to be quantified with confirmed presence of Cu/Co/PGM's. Less than 10% of the 140,000 historical assays includes PGM's

- No Cu, Co, Au assays

• • Infill drilling to quantify by-product credits for 6 deposits

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Widgie Nickel - Strategy

Aiming to be production ready for end of 2023

Aiming to be production ready in 2 years

• • Undertake work programs designed to increase resource size & confidence of existing resources and commence development studies

• • Commence further exploration with a goal to discover more mineralisation to increase endowment

• • Quantify the Co, Cu, Pd, Pt and Au added potential by-product value within resources for the first time.

• • BUILD THE RESOURCE BASE and INCREASE CONFIDENCE- Widgie aims to deliver

Market dynamics attractive and investment rapidly returning to the sector to secure Tier 1 nickel supply or indeed those very dynamics have arrived

• • Expansions at BHP-Leinster Nickel, Major Additions to BHP Kwinana refinery aiming to produce Ni Sulphate, Restart of Kambalda concentrator (Mar 22)

• • BHP, Liontown, Core lithium Offtake Deals with Tesla

• • Wyloo takeover Noront in Canada after bidding war with BHP, hefty premium indicative of desire

• • IGO takeover Western Areas in progress - consolidation theme emerging

• • Wyloo / IGO jointly investigate processing options- value accretive...smart money talking

• • THE TIMING FOR WIDGIE is IDEAL.

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