Poseidon Nickel : Investor Presentation - Paydirt Battery Metals Conference

2022 Paydirt Battery Metals Conference

Peter Harold

Managing Director & CEO 6-7 April 2022

Disclaimer and Competent Person Statement

DISCLAIMER

This presentation is for information purposes only. It has been prepared for the purpose of providing general information about Poseidon Nickel Limited ("Poseidon"). It should not be considered as an offer, invitation, solicitation or recommendation to subscribe for or purchase any securities in Poseidon in any jurisdiction. It is not recommended that any person makes an investment decision in relation to Poseidon in reliance on this presentation material. This presentation does not constitute financial product advice and has been prepared without taking into account the recipient's investment objectives, financial circumstances or particular needs and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments.

This presentation contains forecasts and forward-looking statements. Such statements are predictions only based on available data which maybe unreliable and is subject to inherent risks and uncertainties. Investors are cautioned that forward-looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein, which could cause actual values, results, performances or achievements to differ materially from those expressed, implied or projected in this presentation.

This overview does not purport to be all-inclusive or to contain all information which its recipients may require in order to make an informed assessment of the project prospects. Each of Poseidon, its officers, employees and advisers expressly disclaims any responsibility for the accuracy or completeness of the material contained in this presentation and excludes all liability, direct, indirect or consequential for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any error or omission there from. Poseidon accepts no responsibility to update any person regarding any inaccuracy, omission or change in information in this presentation.

COMPETENT PERSON STATEMENTS

The information in this report that relates to Exploration Results is based on, and fairly represents, information compiled and reviewed by Mr Andrew Pearce, who is an employee of Poseidon Nickel, and is a Member of The Australian Institute of Geoscientists

The information in this report which relates to the Black Swan Mineral Resource is based on, and fairly represents, information compiled by Mr David Reid who is a full-time employee of Golder Associates Pty Ltd and who is a Fellow of the Australasian Institute of Mining and Metallurgy. The information in this report which relates to the Black Swan Ore Reserve is based on, and fairly represents, information compiled by Mr Francois Bezin who is a full-time employee of IMC Mining and is a Member of the Australasian Institute of Mining and Metallurgy.

The information in this report which relates to the Golden Swan Mineral Resource is based on, and fairly represents, information compiled by Mr Andrew Pearce, Exploration Manager, who is a full-time employee at Poseidon Nickel, and is a Member of The Australian Institute of Geoscientists and Mr Ian Glacken who is a full-time employee of Optiro Pty Ltd and is a Fellow of the Australasian Institute of Mining and Metallurgy.

The information in this report which relates to the Silver Swan Mineral Resource is based on, and fairly represents, information compiled by Mr Steve Warriner, Chief Geologist, who was a full-time employee at Poseidon Nickel, and is a Member of The Australian Institute of Geoscientists and Mr Kahan Cervoj who is a full-time employee of Optiro Pty Ltd and is a Fellow of the Australasian Institute of Mining and Metallurgy. The information in this report which relates to the Silver Swan Ore Reserve is based on, and fairly represents, information compiled by Mr Matthew Keenan who is a full-time employee of Entech Pty Ltd and is a Member of the Australasian Institute of Mining and Metallurgy.

The information in this report which relates to the Lake Johnston Mineral Resource is based on, and fairly represents, information compiled by Mr Steve Warriner, Chief Geologist, who was a full-time employee at Poseidon Nickel, and is a Member of The Australian Institute of Geoscientists and Mr David Reid who is a full-time employee of Golder Associates Pty Ltd and is a Fellow of the Australasian Institute of Mining and Metallurgy. The information in this report which relates to the Lake Johnston Ore Reserves Project is based on, and fairly represents, information compiled by Mr Matthew Keenan who is a full-time employee of Entech Pty Ltd and is a Member of the Australasian Institute of Mining and Metallurgy.

The information in this presentation which relates to the Silver Swan Tailings Mineral Resource Resources is based upon details compiled by Ian Glacken, who is a Fellow of the Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists. Ian Glacken is an employee of Optiro Pty Ltd and has sufficient experience which is relevant to the style of mineralisation and the deposit under consideration, and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code).

The information in the updated Gold Tailings Project which relates to Mineral Resources is based upon details compiled by Ian Glacken, who is a Fellow of the Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists. Ian Glacken is an employee of Optiro Pty Ltd and has sufficient experience which is relevant to the style of mineralisation and the deposit under consideration, and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code).

The Company is not aware of any new information or data that materially affects the information in the relevant market announcements. All material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed.

Mr Pearce, Mr Warriner, Mr Cervoj, Mr Glacken Mr Reid, Mr Bezin and Mr Keenan all have sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' (the JORC Code 2012). Mr Pearce, Mr Warriner, Mr Cervoj, Mr Glacken and Mr Keenan have consented to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The Australian Securities Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release

FORWARD LOOKING STATEMENTS

This release contains certain forward looking statements including nickel production targets. Often, but not always, forward looking statements can generally be identified by the use of forward-looking words such as "may", "will", "except", "intend", "plan", "estimate", "anticipate", "continue", and "guidance", or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production and expected costs. Indications of, and guidance on future earnings, cash flows, costs, financial position and performance are also forward-looking statements

Forward looking statements, opinions and estimates included in this announcement are based on assumptions and contingencies which are subject to change, without notice, as are statements about market and industry trends, which are based on interpretation of current market conditions. Forward looking statements are provided as a general guide only and should not be relied on as a guarantee of future performance.

Forward looking statements may be affected by a range of variables that could cause actual results or trends to differ materially. These variations, if materially adverse, may affect the timing or the feasibility and potential development of the Golden Swan underground mine.

Western Australian focusedExperienced exploration and development team

•Three quality nickel sulphide assets

Significant exploration upside

1 Refer Minerals Resource and Reserve tables, attached

Capital Structure/Enterprise Value

ASX Code

POS

$0.16

$25.00

Shares on Issue 3.064B

$0.14

$20.00

Share Price (6 April 2022) $0.09

Market Cap ~$275M

Cash (31 December 2021) ~$22M

Significant Holders

%

Closing Share Price ($A)

$0.12

$0.10

$15.00

$0.08

$10.00

$0.06

NickelPrice($US/lb)

Black Mountain Metals1 11.9%

$0.04

$5.00

Citicorp Nominees 4.5%

$0.02

Wyloo Metals2 3.1%

$-

$-

BNP Paribas Nominees 2.3%

Private Investor A 2.3%

A$ Share PriceUS$ Nickel Price

Private Investor B 2.1%

• 1 Black Mountain sold 186M shares in Aug/Sep 2021 representing 34% of their original holding.

• 2 Wyloo have sold 344M shares since December 2020 representing approximately 11% of the issued capital of POS.

Share Price Performance

CAPABILITIES & CULTURE

FINANCIALESG

PATHWAY TO PRODUCTION

• • Restart Black Swan utilising existing 1.1Mtpa plant & feed from open pit, underground and tailings

• • Restart Lake Johnston utilising existing mill and Maggie Hays underground

• • Develop Windarra Tailingswith a partner

TARGETED EXPLORATION

• • Continue exploring for nickel sulphide orebodies on our existing tenements

• • Extend mine life through exploration success to support at least a 15ktpa nickel in concentrate production

BUSINESS DEVELOPMENT

• • Explore and develop satellite projects that could feed our existing processing plants through JV, offtake, acquisition, etc.

• • Acquire additional nickel sulphide prospective ground.

SAFETY

GROWTHRESPECTWELLBEING