Mr. Craig Lennon reports

NICKEL 28 ANNOUNCES TSXV APPROVAL OF NORMAL COURSE ISSUER BID

Nickel 28 Capital Corp. has received approval from the TSX Venture Exchange to conduct, at the company's discretion, a normal course issuer bid program (the NCIB) to purchase up to 7,050,819 common shares, representing approximately 8.1 per cent of Nickel 28's issued and outstanding common shares. Nickel 28 has appointed Haywood Securities Inc. to administer the proposed NCIB on behalf of the company.

As of the date hereof, the company has 86,977,221 common shares issued and outstanding. The maximum number of common shares that may be purchased by the company under the NCIB represents approximately 10 per cent of the company's public float (calculated in accordance with the rules of the TSX-V). The NCIB will commence on Feb. 23, 2026, and will terminate on Feb. 23, 2027, or on an earlier date in the event that the maximum number of common shares sought in the NCIB have been repurchased. The company reserves the right to terminate the NCIB at any time.

"We are pleased to announce the TSX-V's acceptance of Nickel 28's normal course issuer bid," stated Craig Lennon, president and chief executive officer of the company. "In the opinion of management and the board of directors of Nickel 28, the common shares have recently continued to trade in a price range that represents a substantial discount to the company's net asset value and does not reflect the underlying value of the company, and implementation of this normal course issuer bid represents an important element of our shareholder capital return policy to enhance shareholder value creation," he said.

All common shares purchased by Nickel 28 will be purchased on the open market through the facilities of the TSX-V or alternative Canadian trading systems, in open market transactions or by such other means as may be permitted under applicable securities laws. The actual number of common shares which may be purchased, and the timing of such purchases, will be determined by Nickel 28. Decisions regarding purchases will be based on market conditions, share price, best use of available cash and other factors as determined by the board from time to time. Nickel 28 has also entered into an automatic purchase plan which will allow for the purchase for cancellation of common shares, subject to certain trading parameters, by Haywood Securities during times when Nickel 28 would ordinarily not be active in the market due to applicable securities regulatory restrictions or self-imposed blackout periods. Outside of these periods, the common shares will be repurchased by Nickel 28 at its discretion under the NCIB.

About Nickel 28 Capital Corp.

Nickel 28 Capital is a nickel-cobalt producer through its 8.56-per-cent joint venture interest in the producing long-life Ramu nickel-cobalt operation located in Papua New Guinea. Ramu provides Nickel 28 with significant attributable nickel and cobalt production thereby offering the company's 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 and exploration projects in Canada, Australia and Papua New Guinea.

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