ISS Rejects Pelham’s Demand for Wholesale Change at Nickel 28 - Seite 3

While the Chairman remains resolute in his commitment to ensuring the Meeting occurs in accordance with the Company’s articles and applicable laws and has notified Pelham that it will not be entitled to nominate directors, the Company believes it is important that shareholders are made aware of ISS’ reasons for recommending shareholders reject Pelham’s attempt at wholesale Board change in the face of Pelham’s challenge to the Chairman’s determination.

The management information circular (the “Circular”) dated May 10, 2023 and a supplement to the Circular (the “Supplement”) provide important information on the business of the meeting, including Nickel 28’s Board, as well as related matters such as voting procedures and how to attend the Meeting. Shareholders are urged to read the Circular and Supplement carefully and in their entirety. The Circular and Supplement are available on Nickel 28’s website at www.ProtectNKL28.com and under the Company’s profile on SEDAR at www.sedar.com.

If you have any questions or need help voting your shares, please contact Kingsdale Advisors toll free in North America at 1-888-518-1557, or call collect from outside North America at 416-867-2272, or by email at [e-mail] if you need assistance with voting your shares.

Advisors

Stikeman Elliott LLP and Bennett Jones LLP are acting as legal counsel to Nickel 28. BMO Capital Markets is acting as financial advisor to Nickel 28. Kingsdale Advisors is acting as strategic shareholder advisor to Nickel 28. Gagnier Communications LLC is acting as strategic communications advisor to Nickel 28.

About Nickel 28

Nickel 28 Capital Corp. is a nickel-cobalt producer through its 8.56% joint-venture interest in the producing, long-life and world-class Ramu Nickel-Cobalt Operation located in Papua New Guinea. Ramu provides Nickel 28 with significant attributable nickel and cobalt production thereby offering our shareholders direct exposure to two metals which are critical to the adoption of electric vehicles. In addition, Nickel 28 manages a portfolio of 10 nickel and cobalt royalties on development, pre-feasibility and exploration projects in Canada, Australia and Papua New Guinea.