Champion Iron Ltd. · ASX:CIA
Champion Iron — Investor Presentation (January 2025)
32 slides from Champion Iron's investor presentation, January 2025
Slide 1: A Rare Solution to Decarbonize Steelmaking
INVESTOR PRESENTATION JANUARY 2025 A RARE SOLUTION TO DECARBONIZE STEELMAKING CHAMPION IRON 24
Slide 2: Disclaimer
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Slide 3: Corporate Overview
CORPORATE OVERVIEW CHAMPION IRON 2s RARE HIGH-PURITY IRON ORE RESOURCES ENABLING GREEN STEELMAKING BA > 9.1% management ownership and 8.2% ownership by the government of Québec? Al > Nameplate capacity of 15M tpa high-purity 66.2% Fe iron ore concentrate Pr] > Optimizing operations at Bloom Lake, in
Slide 4: A Global Solution for the Transitioning Steel Industry
A GLOBAL SOLUTION FOR THE CHAMPION IRON.Z4 TRANSITIONING STEEL INDUSTRY ———
Slide 5: High Purity Iron Ore: A Solution for Green Steel
HIGH PURITY IRON ORE > A SOLUTION FOR GREEN STEEL CHAMPION IRON 2 THE STEEL INDUSTRY WILL NEED TO ADAPT TO LIMIT EMISSIONS Mining Freight +> Steelmaking increased 1% 2% its share of global Agglomeration 12% emissions in the last 20 Agriculture, forestry and soil management years, now 18% representin
Slide 6: Governments Supporting the Green Steel Transition
GOVERNMENTS SUPPORTING THE GREEN STEEL TRANSITION CHAMPION IRON 2 LOCAL SUPPORT GLOBAL ALIGNMENT TO INCREASE DEMAND FOR GREEN STEEL > High-purity iron ore on the critical + Carbon Border Adjustment Mechanism (CBAM), implemented in Europe minerals list identified by the in 2023, will impact the globa
Slide 7: A Proven Solution to Decarbonize Steelmaking
A PROVEN SOLUTION TO DECARBONIZE STEELMAKING CHAMPION IRON 2s TSX: CIA | ASX: CIA | OTCOX: CIAFF METHOD INPUTS PROCESS CHAMPION’S IMPACT \ Bis a BF-BOF Lower grades Sintering imi 66.2%) *Bloom Lake’s iron mal or Blast Furnace | — Fe ore concentrate Basic Oxygen Furnace ee orl CE wo. ~2.2t CO.e/t Iro
Slide 8: DRI Already a Growing Market
CHAMPION IRON 24 DRI ALREADY A GROWING MARKET TSX: CIA | ASX: CIA | OTCOX: CIAFE DRI PRODUCTION INCREASING DESPITE A LACK OF GROWTH IN THE STEEL SECTOR > Supported by several governments, the MONTHLY GLOBAL CRUDE STEEL AND DRI PRODUCTION ( ) accelerating industry transition from BF-BOF “ tonnes to D
Slide 9: Additional DRI Growth Expected
ADDITIONAL DRI GROWTH EXPECTED CHAMPION IRON 2s DRI GROWTH IS SET TO CONTINUE WITH SIGNIFICANT NEW DRI PROJECTS UNDERWAY, INCLUDING SEVERAL RECEIVING GOVERNMENT SUPPORT Central/North Europe West/South Europe Germany - Wilhelmshaven (Salzgitter) France - Dunkirk (Liberty Steel / ArcelorMittal) German
Slide 10: Few Producers Capable to Produce High-Grade Iron Ore
FEW PRODUCERS CAPABLE TO PRODUCE HIGH-GRADE IRON ORE CHAMPION IRON 2 MARKET LEADING HIGH-PURITY DR QUALITY PRODUCT IN A GROWING MARKET SUMMARY OF IRON AND GANGUE CONTENTS . . . Primarily Brazil, Canada, © (wy) « Primarily Australia ro) y Ukraine and Russia \ L— | = i 1 £ 12% f \ E e 3 10% a ° Bloom
Slide 11: Contaminants Are a Growing Industry Concern
CONTAMINANTS ARE A GROWING INDUSTRY CONCERN CHAMPION IRON 2 WHILE THE STEEL INDUSTRY REQUIRES INCREASINGLY HIGHER PURITY IRON ORE TO DECARBONIZE, QUALITY HAS DECLINED FOR AUSTRALIA’S MAJOR IRON ORE PRODUCERS BIG 3 AUSTRALIAN MINERS PRODUCTION (2015-2025) ' 1% 2015 12% 2025! 8 g ) 8 ; ; 8g Weighted a
Slide 12: MetalloInvest (Russia) Rest of
⎪ ⎪ Spare Port Project / Renewable Distance to # Capacity Portfolio Energy Port (Km) (Mtpa)6 MetalloInvest 1 (Russia) Rest of 2 Canada4 3 S11D Champion 4 Iron 7 5 Simandou2,5 6 Iron Bridge 7 Central Eyre3 8 Minas Rio 9 Samarco LKAB 10 (Sweden) 11 CSN (Brazil) 12 Sino Iron
Slide 13: Low Impact Locally & Scaleable Positive Impact Globally
LOW IMPACT LOCALLY & SCALEABLE POSITIVE IMPACT GLOBALLY CHAMPION IRON 2s > Canadian high-purity iron ore is produced with one of the lowest carbon intensities globally > Acomplete transition of Bloom Lake’s 15M tpa nameplate capacity to DRPF quality iron ore could eliminate nearly 9.7Mt of CO;eq/yea
Slide 14: Recent Results
CHAMPION IRON RECENT RESULTS
Slide 15: Record Results and Solidifying Operations
CHAMPION IRON 24 RECORD RESULTS AND SOLIDIFYING OPERATIONS TSX: CIA | ASX: CIA | OTCOX: CIAFE > FY24 production of 14.2M wmt, an increase of 26.6% BLOOM LAKE PRODUCTION HISTORY year-over-year, representing 94.4% of Bloom Lake's (MILLION WMT/YEAR) recently expanded nameplate capacity of 15Mtpa > HI1/
Slide 16: Record Sales and Diversified Customers
CHAMPION IRON 24 RECORD SALES AND DIVERSIFIED CUSTOMERS TSX: CIA | ASX: CIA | OTCOX: CIAFE > Record annual iron ore concentrate sales of 11.6Mdmt in FY24, an increase FY2024 SALES of 9.9% year-over-year t | Year-over-year shipments by region > Increased sales in Europe and successfully achieved firs
Slide 17: Optimizing Cost Structure
OPTIMIZING COST STRUCTURE CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF TOTAL CASH CosT? (C$/DMT) Phase Il $120 ramp up $80 $40 $0 2014 Approx. 40% reduction FY19* Fy2zo FY2l1.—sFY@@—s F239. FY24 2015 2016 2017 Sources: Champion Iron Limited, Statistics Canada > Vv FY2024 results: Continued to
Slide 18: Rising Industry Costs Supporting Iron Ore Prices
RISING INDUSTRY COSTS SUPPORTING IRON ORE PRICES CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF IRON ORE PRICES SUPPORTED BY RISING INDUSTRY COSTS > Impacted by weaker steel output in China and seasonally elevated iron ore supply from major hubs, iron ore prices recently tested multi-year lows
Slide 19: Robust Financial Results and Balance Sheet
ROBUST FINANCIAL RESULTS AND BALANCE SHEET CHAMPION IRON 2s > Robust financial results and liquidity, positioning the Company to diligently evaluate growth opportunities while continuing its capital return strategy $27 1M Working capital! - | $0.50 m $531.7M Short-term & Long-term debt? so.00 | | ||
Slide 20: Product Development and Growth Initiatives
PRODUCT DEVELOPMENT CHAMPION IRON 23 AND GROWTH INITIATIVES {A | OTCOX
Slide 21: Green Steel Supply Chain Solutions
GREEN STEEL SUPPLY CHAIN SOLUTIONS CHAMPION IRON 2s DE-RISKING A VAST PROJECT PORTFOLIO REQUIRED FOR THE GREEN STEEL SUPPLY CHAIN PRODUCTS OPTIMIZATION | MINING VOLUME INCREASE KAMI PROJECT SM WMT/YEAR Completed pre-feasibility study and a binding agreement outlining a partnership with Nippon and So
Slide 22: DRPF Project
DRPF PROJECT CHAMPION IRON 2 DRPF PROJECT TOTAL EXPECTED CAPEX' (C$M) 66.2% » 69% AS AT SEPTEMBER 30, 2024 Fe Fe > Upgrading half of Bloom Lake from 66.2% to 69% Fe > Expected to attract additional pricing premium over the P65 index > Robust economics and expected commissioning in calendar H2/2025 >
Slide 23: Kami Project Highlights
KAMI PROJECT HIGHLIGHTS CHAMPION IRON 2s KAMI PROJECT > Sizeable high-purity iron resource 23613 Located a few kilometers southeast of Bloom Lake > Potential to access hydroelectric power and utilize the same rail and port as Bloom Lake BLOOM LAKE Mont Wright Mine et) |, PRE-FEASIBLITY STUDY Se HIGH
Slide 24: 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 Steel Corporation (Nippon) and Sojitz Corporation (Sojitz) to form a partnership for the jo
Slide 25: 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 26: Kami Partnership Milestones
KAMI PARTNERSHIP MILESTONES CHAMPION IRON 2s SIGNIFICANT INITIAL INVESTMENTS ENABLED BY THE TRANSACTION WITH NIPPON AND SOJITZ Closing of Transaction and Interim investment Production of qst cosh contribution ($68.6M) decision and Transaction — Final Investment -9M wmt/year of DR Iron . . 2" cash co
Slide 27: Kami Project
KAMI PROJECT CHAMPION IRON 2 > Kami Project's expected capital intensity of US$331/wmt of production capacity is competitive with recently completed high-grade concentrate greenfield projects’ capital intensity average of US$328/wmt! > Recently completed project's capital intensity implies a replace
Slide 28: See with Vincent for 5 yr perspective
⎪ ⎪ → → See with Vincent for 5 yr perspective →
Slide 29: Thank You to Our Staff
THANK YOU TO OUR STAFF CHAMPION IRON 2s UPHOLDING VALUES FOR A SUSTAINABLE FUTURE 7 hi ¢ TRANSPARENCY RESPECT INGENUITY PRIDE 2g
Slide 30: Thank You!
THANK YOU! CHAMPION IRON 24 Contact us for_more information - Michael Marcotte, CFA » -Senior Vice-President - Corporate Development and Capital Markets i oa a —_—" a info@championiron.com : 7 mi 514-316-4858 6
Slide 31: Appendix: Bloom Lake - Opportunities Beyond LOM
APPENDIX: BLOOM LAKE > OPPORTUNITIES BEYOND LOM CHAMPION IRON 2s Released the details of the updated mineral resources and reserves for Bloom TECHNICAL REPORT HIGHLIGHTS Lake on August 22, 2023, including: Average recovered concentrate (M wmt/year) 15.2 Life of mine (years) 18 years > Confirmed 18 y
Slide 32: Appendix: Notes to the Resources and Reserves
APPENDIX: NOTES TO THE RESOURCES AND RESERVES CHAMPION IRON 2s NOTES ON MINERAL RESOURCES AND MINERAL RESERVES FOR THE BLOOM LAKE MINE Mineral Resources Mineral resources ore not mineral reserves and have not demonstrated economic viebility under the assumptions contained in the 2023 Technical Repor