Nickel Industries Limited ('Nickel Industries' or the 'Company') is an Australian public company emerging as a globally significant, low-cost producer of nickel pig iron ('NPI'), a key ingredient in the production of stainless steel. Nickel Industries now holds 80% economic interests in the Hengjaya Nickel and Ranger Nickel projects, both of which operate 2 line Rotary Kiln Electric Furnace (‘RKEF’) plants producing NPI within the Indonesia Morowali Industrial Park (‘IMIP’). Nickel Industries also holds an 80% economic interest in the Hengjaya Mine, a large tonnage, high grade saprolite deposit located in the Morowali Regency of Central Sulawesi, Indonesia. In 2021, Nickel Industries has also acquired an 80% interest in the Angel Nickel project, comprising four 54 KVA RKEF lines and a 380MW power plant at the Indonesia Weda Bay Industrial Park (‘IWIP’). Additionally, in December 2021 Nickel Industries announced the signing of a Definitive Agreement with Shanghai Decent to acquire a 70% interest in the Oracle Nickel project, a development project comprising four RKEF lines with annual nameplate capacity of 36,000 tonnes of nickel and ancillary facilities. Oracle Nickel will also separately undertake the construction of a 380MW captive power plant.