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CONFIDENTIAL

RNO - QUICK FACTS

THE MINE

▪ Resource - (M&I) 212Mt @ 0.59% Ni + 0.03%Co

Inferred: 104Mt @ 0.52% Ni +0.02% Co

▪ Reserve (P&P) : 196Mt @ 0.60% Ni + 0.03% Co
▪ Mining ~10Mt pa (1.1M bcm pm) ~1:1 strip

THE PLANT

▪ 10Mtpa to the Beneficiation Plant: upgrades ~0.6% Ni to ~1.2% Ni

▪ Processing circuit treating 3.2Mtpa @ ~1.2% Ni

▪ 2Mtpa limonite Ore to PAL circuit

▪ 1.2Mt pa saprolite ore to Atmospheric Leach circuit

▪ Mixed hydroxide precipitate (MHP) Product ~40% Ni +1.3% Co

▪ Production forecast (3 yr): 24,000 – 32,000kt Ni pa
Mixed Ni-Co Hydride
▪ At current throughput LOM is ~ 20 years precipitate (MHP)
For details see FQM Annual Information Form – March 2021