Slide 1: Third Quarter of the 2025 Financial Year
THIRD QUARTER OF THE 2025 FINANCIAL YEAR WEBCAST PRESENTATION -JANUARY 30, 2025 (MONTREAL) CHAMPION IRON 2 A RARE SOLUTION TO DEGARBONIZE STEELMAKING | ay |
Slide 2: Disclaimer
DISCLAIMER c on foan IRON 24 ‘This presentation (the "Presentatian")contansinfarmation about Champion ronLinited(Champian’or the ‘Carpany". currents a the dateberenf or asatsuch earlier date as maybe specified herein This Presentatondoes not constituteor formpartof, andshauidnot beconstruedas,anoffe
Slide 3: Conference Call Participants
CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF CONFERENCE CALL PARTICIPANTS DAVID CATAFORD ALEXANDRE BELLEAU DONALD TREMBLAY MICHAEL MARCOTTE Chief Executive Officer Chief Operating Officer Chief Financial Off nior Vice-President ‘ate Development and Capital Markets
Slide 4: FY2025 Third Quarter Highlights
FY2025 THIRD QUARTER HIGHLIGHTS CHAMPION IRON 29 TSX: CIA | ASX: CIA | OTCQX: CIAFF e ¢ m 3,620,600 WMT $78.7/DMT SOLD $363.2M $93.1M CONCENTRATE PRODUCED TOTAL CASH COST! REVENUES CASH & CASH EQUIVALENTS 3,287,400 DMT $93.9/DMT SOLD $88.2M eel CONCENTRATE SOLD ALL-IN SUSTAINING COST! EBITDA! Geos C
Slide 5: Community and Sustainability
CHAMPION IRON 24 COMMUNITY AND SUSTAINABILITY TSK: CIA | ASX: CIA | OTCOX: CIAFF > Continued support and recognition of the strong relationship built > Invited to participate at several events to discuss the critical with our First Nations partners, including: importance of high-purity iron ore in d
Slide 6: Operational & Financial Results
OPERATIONAL & FINANCIAL RESULTS CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCOX: CIAFF
Slide 7: Load-Out Events and Railway Capabilities
CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF LOAD-OUT EVENTS AND RAILWAY CAPABILITIES > Iron ore shipments were interrupted for 14-days in the period due to machinery breakage at the train load-out facility at Bloom Lake, which is utilized to ship iron ore concentrate by railway to the port o
Slide 8: Operations Overview
OPERATIONS OVERVIEW CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF > Iron ore concentrate sales of 3.3M dmt, comparable to the previous quarter, despite the breakage at the Load-Out Record monthly iron ore concentrate sales of nearly 1.6M dmt in November 2024 Record material mined and hauled in
Slide 9: Industry Overview
INDUSTRY OVERVIEW CHAMPION IRON 2a > The P65 iron ore index averaged US$118.0 in the period, a modest quarter-on-quarter increase of 3.3%, supported by seasonal increase in steel consumption and stimulus measures in China > The average quarterly P65 premium over the P62 index remained relatively sta
Slide 10: Provisional Price Adjustment
PROVISIONAL PRICE ADJUSTMENT CHAMPION IRON 2a TSX: CIA | ASX: CIA | OTCQX: CIAFF > Realized an average price of US$114.4/t during the quarter for the 2.3M tonnes subject to provisional pricing at the end of Q2/FY25 > 03/FY25 negative provisional pricing adjustment of US$12.9M, representing a negativ
Slide 11: Average Realized Selling Price
AVERAGE REALIZED SELLING PRICE CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF > Q3/FY25 average gross realized price! of US$113.4/t, lower than the P65 index average of US$118.0/t during the period > Average gross realized price negatively impacted by the 1.7 Mt in transit as at December 31, 20
Slide 12: Operating Cost Metrics
OPERATING COST METRICS CHAMPION IRON 2a > Mining and processing costs! of $49.6/dmt produced, a decrease of 14% quarter-on-quarter, mainly reflecting higher production and lower maintenance costs considering no major scheduled semi-annual shutdown was completed in the period > Land transportation an
Slide 13: Financial Highlights
FINANCIAL HIGHLIGHTS CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF > Quarterly revenues of $363.2M and EBITDA? of $88.2M > Financial results negatively impacted by lower-than-expected iron ore concentrate sales as a result of the events at the Load-Out > Net income and earnings per share negat
Slide 14: Cash Change Details
CASH CHANGE DETAILS CHAMPION IRON 2a > Cash! of $93.1M declined quarter-on-quarter, mainly resulting from the payment in November of the previously declared dividend, the advancement of the Direct Reduction Pellet Feed (“DRPF”) project and the lower-than-expected sales of iron ore concentrate due to
Slide 15: Balance Sheet and Liquidity Position
BALANCE SHEET AND LIQUIDITY POSITION CHAMPION IRON 2a BALANCE SHEET LIQUIDITY POSITION $93.1M Cash and cash equivalents Debt net of cash $274.8M $356.1M Working capital? (including working capital) =a $724.0M Short-term & Long-term debt $501.9M Available loans? > Total cash and cash equivalents, wor
Slide 16: Growth Projects
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Slide 17: Green Steel Supply Chain Solutions
GREEN STEEL SUPPLY CHAIN SOLUTIONS CHAMPION IRON 2a DE-RISKING A VAST PROJECT PORTFOLIO REQUIRED FOR THE GREEN STEEL SUPPLY CHAIN PRODUCTS OPTIMIZATION MINING VOLUME INCREASE KAMI PROJECT SM WMT/YEAR Completed pre-feasibility study and a binding agreement outlining a partnership with Nippon Steel Co
Slide 18: DRPF Project Update
DRPF PROJECT UPDATE CHAMPION IRON 2a > DRPF project, upgrading half of Bloom Lake's nameplate capacity from 66.2% | DRPF PROJECT TOTAL EXPECTED CAPEX' Fe up to 69% Fe, advanced on schedule and on budget, with commissioning expected in December 2025 > Quarterly and cumulative investments of $69.3M an
Slide 19: Kami Agreement with Major Industry Leaders
KAMI AGREEMENT WITH MAJOR INDUSTRY LEADERS CHAMPION IRON 2a PARTNERSHIP WITH NIPPON AND SOJITZ TO EVALUATE THE DEVELOPMENT OF KAMI > Champion entered into a binding agreement on December 18, 2024, with Nippon and Sojitz to form a partnership for the joint ownership and potential development of Kami
Slide 20: About Our Partners
ABOUT OUR PARTNERS CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF ESTABLISHED INDUSTRY LEADERS SHARING OUR VISION TO REDUCE EMISSIONS IN STEELMAKING ja NIPPON STEEL > Nippon is Japan’s largest steelmaker and one of world’s leading steel manufacturers with an annual crude steel production capaci
Slide 21: Kami Partnership Milestones
KAMI PARTNERSHIP MILESTONES CHAMPION IRON 2a SIGNIFICANT INITIAL INVESTMENTS ENABLED BY THE TRANSACTION WITH NIPPON AND SOJITZ 7 7 Interim investment . Kami pre-feasiblity Closing of Transaction and Production of 1st h tribution ($68.6M) decision and Transaction — Final Investment 9M wmt/year of DR
Slide 22: Kami: Aiming to Create a Positive Impact Locally
CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF KAMI > AIMING TO CREATE A POSITIVE IMPACT LOCALLY ADVANCING THE PROJECT AND ENGAGING WITH LOCAL COMMUNITIES > Active community engagement, permitting and ongoing public consultations underway > Discussing with various levels of governments, includi
Slide 23: Kami Project: Competing Economics
KAMI PROJECT: COMPETING ECONOMICS CHAMPION IRON 2a TSX: CIA | ASX: CIA | OTCQX: CIAFF CREDIBLE PARTNERS INTERESTED TO DEVELOP KAMI VALIDATES THE VALUE PROPOSITION OF BLOOM LAKE > Kami's expected capital intensity of US$331/wmt of production capacity is competitive with recently completed high-grade
Slide 24: Positioned to Service a Growing Industry
POSITIONED TO SERVICE A GROWING INDUSTRY CHAMPION IRON 2a EUROPE, MIDDLE EAST AND NORTH AFRICA CONTINUE TO INVEST IN ADDITIONAL DRI/EAF STEELMAKING CAPACITY > Continued government support across Europe to invest in > Multiple announcement of low-emission iron and steel projects DRI/EAF capacity, des
Slide 25: Thank You to Our Staff
THANK YOU TO OUR STAFF CHAMPION IRON 2 TSX: CIA | ASX: CIA | OTCQX: CIAFF UPHOLDING VALUES FOR A SUSTAINABLE FUTURE . Mig ey TRANSPARENCY RESPECT INGENUITY 2s
Slide 26: Thank You!
THANK YOU! CHAMPION IRON 24 Mee . Tz aE . pat ae Contact us for more information: -- . _Michael Marcotte, Senior Vice-President - Corporate Development and Capital Markets P infof@championiron.com 514-316-4858 = ag ' Fie : nS - a. a