Nickel Industries (NIC) AGM 2025 summary

Opening remarks and agenda

• Meeting opened at 11:00 A.M. with a quorum present and all resolutions to be decided by poll, with Computershare as scrutineers.

• Notice of meeting was sent to shareholders and taken as read; voting cards distributed to attendees based on their rights.

• Board members, executive team, auditors, and key personnel were introduced, with apologies noted for absentees.

Financial performance review

• Adjusted EBITDA for 2024 was $296.8 million, with gross profit of $186.7 million.

• Loss after-tax due to impairment of HNI and RNI assets; net debt stands at $827.5 million.

• Total dividends for 2024 were AUD 0.04 per share; consistent dividend payments maintained despite nickel price declines.

• Mining operations sold 9 million tons of nickel ore, up from 2.3 million tons four years ago.

• Processed nickel increased from 40,000 tons in 2021 to 136,000 tons in 2024.

Board and executive committee updates

• Board members and executive team present, with some joining via webcast; auditors KPMG in attendance.

• Resolutions included re-election of directors and approval of performance rights for key executives.