Slide 1: First Quarter of the 2024 Financial Year
FIRST QUARTER OF THE 2024 FINANCIAL YEAR lly Webcast Presentation = July28y 2023 ; — zt TIER 1 JURISDICTION CHAMPION IRON 2 HIGH QUALITY INFRASTRUCTURE
Slide 2: Disclaimer
DISCLAIMER c on foe IRON 24 This presentation (the "Presentation”) contains information about Champion Iran Limited ("Champion* ar the “Company"), current as at thedatehereof aras at such earlier date as maybe specified herein, This Presentation daes nat constitute ar farm part af, and should natbe
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 Officer Senior Vice-President Corporate Development and Capital Markets
Slide 4: FY2024 First Quarter Highlights
FY2024 FIRST QUARTER HIGHLIGHTS CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF ap, ow 3,397,200 WMT CONCENTRATE PRODUCED 2,563,500 DMT CONCENTRATE SOLD 78.2% ORE RECOVERY Notes: 1 Nor-IFRS financial measure, ratio or other financial measure. Refer to the disclaimer at the page 2 of this present
Slide 5: Sustainability Focused
CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF SUSTAINABILITY FOCUSED > No major environmental issues reported since the recommissioning of Bloom Lake in 2018 > Optimized emergency response programs to be deployed in the event of forest fires near or at the mine site > Additional awareness camp
Slide 6: Community and Sustainability
COMMUNITY AND SUSTAINABILITY CHAMPION IRON 2a > Our commitment to building lasting relationships based on trust with our Innu partners and host communities was recognized through the “Sollio Groupe Coopeératif - Community Involvement” award at the prestigious Les Mercuriades 2023 competition organiz
Slide 7: CHAMPION IRON Z¥
CHAMPION IRON Z¥ TSX: CIA | ASX: CIA | OTCOX: CIAFF
Slide 8: Industry Overview
INDUSTRY OVERVIEW CHAMPION IRON 2a > The P62 average iron ore index and the P65 index premium decreased by 11.6% and 11.5% respectively, from the previous quarter > Lower iron ore prices during the period are attributable to the decelerating economic growth in China and weakening steel mill profitab
Slide 9: Impact of Recent Forest Fires
IMPACT OF RECENT FOREST FIRES CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF +> Recent forest fires near Sept-iles, Québec, approximately 300 kilometres south of Bloom Lake, resulted in interruptions to railway services between May 30 and June 10, 2023 > As forest fires subsided, railway servic
Slide 10: Operations Overview
OPERATIONS OVERVIEW CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF > Record quarterly iron ore production of 3.4M wmt, up 49% year-on-year > Recent commissioning of the remaining mining equipment and ongoing optimizing of operations to enable Bloom Lake to reach its expanded nameplate capacity
Slide 11: Financial Highlights
FINANCIAL HIGHLIGHTS CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF +> Revenues of $297.2M, EBITDA! of $65.8M and adjusted EPS! of $0.04 > Financial results negatively impacted by lower shipments due to forest fires and the significant negative provisional pricing adjustments on volumes in tran
Slide 12: Note: 1 Non-IFRS financial measure, ratio or other financial measure. Refer to the disclaimer
⎪ ⎪ → → Note: 1 Non-IFRS financial measure, ratio or other financial measure. Refer to the disclaimer at the page 2 of this presentation
Slide 13: Provisional Price Adjustment
CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF PROVISIONAL PRICE ADJUSTMENT > 2.0M tonnes, which were subject to provisional pricing at the end of Q4/FY23, realized an average price of US$123.5/t during the quarter > Q1/FY24 negative provisional pricing adjustment of US$34.9M represents a negat
Slide 14: Average Realized Selling Price
AVERAGE REALIZED SELLING PRICE CHAMPION IRON 2a TSX: CIA | ASX: CIA | OTCQX: CIAFF > QI1/FY24 average gross realized price! of US$125.7/t, slightly above the P65 index average of US$124.0/t during the period > Average gross realized price? positively impacted by certain sales contracts based on back
Slide 15: Cash Change Details
CASH CHANGE DETAILS CHAMPION IRON 2a > Cash of $250.3M was positively impacted by operating cash flow before working capital of $53.3M and partially offset by cash withdrawals of $52.3M in anticipation of the semi-annual dividend paid on July 5, 2023, and sustaining expenditures, equipment deposits
Slide 16: Notes Non-IFRS financial measure, ratio or other financial measure. Refer to the disclaimer at
⎪ ⎪ → → Notes Non-IFRS financial measure, ratio or other financial measure. Refer to the disclaimer at the p.2 Receivables: $108.3M; Income and mining taxes receivables: $31.9M; Prepaid expenses and advances: $64.4M; Inventories: $211.6M; accounts payable and other : ($174.8M); Income tax payable: (
Slide 17: A Global Solution for the Transitioning Steel Industry
A GLOBAL SOLUTION FOR THE cHAREE TRANSITIONING STEEL INDUSTRY — IRON 2 jorc
Slide 18: Source: Champion Iron Limited, Minespans data; 1 Submerged Arc Furnaces; 2 Carbon capture, utilization
⎪ ⎪ ° Source: Champion Iron Limited, Minespans data; 1 Submerged Arc Furnaces; 2 Carbon capture, utilization and storage
Slide 19: Source: Champion Iron Limited; Minespans data; Midrex World Direct Reduction Statistics, 2021; 1 Cumulative
⎪ ⎪ Source: Champion Iron Limited; Minespans data; Midrex World Direct Reduction Statistics, 2021; 1 Cumulative historical production estimated from 1970-now; estimated DR pellet demand prior to 1970 of 1Mtpa 2 High purity iron defined as Fe > 65% and combined alumina and silica < 5.5%
Slide 20: OTCOX: CIAFF
CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCOX: CIAFF TT aM Te AMT A EA AS = is | « iii ee : wr | i li it a ee eT ie Wf HI ARE ; - hi | F “CAT Ti JU.
Slide 21: End of 2017 M+I resources, Rio Tinto Notice to ASX ‘’Changes to Simandou Ore
⎪ ⎪ → End of 2017 M+I resources, Rio Tinto Notice to ASX ‘’Changes to Simandou Ore Reserves and Mineral Resources’’, March 2018; See Champion`s November 2022 investor presentation at www.championiron.com for additional disclosure
Slide 22: DRPF Project: Initial Milestones
⎪ ⎪ DRPF PROJECT: INITIAL MILESTONES → → → ✓ ✓ ✓ →
Slide 23: Thank You to Our Staff
THANK YOU TO OUR STAFF CHAMPION IRON 2a ® PRIDE 8 INGENUITY hy" iN i GS RESPECT \ o \ TRANSPARENCY G2 GQ Upholding our values for a sustainable future 23
Slide 24: Thank You!
THANK YOU! CHAMPION IRON 24