Slide 1: Investor Presentation November 2021
INVESTOR PRESENTATION NOVEMBER 2021 PREMIUM PRODUCT, TIER 1 JURISDICTION, HIGH QUALITY INFRASTRUCTURE CHAMPI ON IRON LAX
Slide 2: Disclaimer
DISCLAIMER CHAMPION IRON 2 TSX: CIA | ASX: CIA | OTCQX: CIAFF This presentation (the “Presentation*) contains information about Champion Iron Limited ("Champion Iron Limited” or the “Company"), currentas at the date hereof or as at such earlier date as may be specified herein. This Presentation does
Slide 3: Corporate Overview
CORPORATE OVERVIEW CHAMPION IRON 2a LARGEST PUBLICLY LISTED PURE-PLAY HIGH-GRADE IRON ORE PRODUCER GLOBALLY STRATEGIC LOCATION > Top Tier Jurisdiction > Established production in region since the 50‘s > 24 largest hub of high-grade exports globally > Access to infrastructure, including renewable hyd
Slide 4: Focus on Sustainability
CHAMPION IRON 2 TSX: CIA | ASX: CIA | OTCQX: CIAFF FOCUS ON SUSTAINABILITY NO OCCURRENCE OF MAJOR ENVIRONMENTAL ISSUES SINCE RECOMMISSIONING THE BLOOM LAKE MINE IN FEBRUARY 2018 COVID-19 MEASURES “Mme ST) y 6) > Implemented and maintained a rapid testing COVID-19 laboratory at the Bloom Lake mine, u
Slide 5: A Global Solution for the Transitioning Steel Industry
A GLOBAL SOLUTION FOR THE CHAMPION IRON 24 TRANSITIONING STEEL INDUSTRY TSX: CIA | ASX: CIA | OTCOX : CIAFF
Slide 6: A Critical Metal for Society
A CRITICAL METAL FOR SOCIETY CHAMPION IRON 2a TSX: CIA | ASX: CIA | OTCQX: CIAFF IRON ORE REPRESENTS ROUGHLY 94% OF THE VOLUME OF METALS MINED GLOBALLY > With over 98% of its use allocated to steelmaking, iron ore is the foundation upon which we build infrastructure, housing, essential goods and soc
Slide 7: Need for a Solution
CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF NEED FOR A SOLUTION THE STEEL INDUSTRY IS ONE OF THE LARGEST SOURCES OF CO2 EMISSIONS GLOBALLY > While the iron ore industry represents 0.2% of global emissions, the steel industry has increased its share of global emissions fram 5% to 8% in the la
Slide 8: Major Steel Producers Decarbonization Targets
⎪ ⎪ ° ▪ ▪ ▪ MAJOR STEEL PRODUCERS DECARBONIZATION TARGETS 30% Net-Zero 30% Net-Zero 20% Net-Zero 30-40% Net-Zero 35% Working Towards Net-Zero 30% Net-Zero 20% 50% Net-Zero 30% 35% Net-Zero 30-40% Net-Zero 30% Net-Zero
Slide 9: Contributing to Reduce Emissions
CONTRIBUTING TO REDUCE EMISSIONS CHAMPION IRON 2a BLOOM LAKE PRODUCES ONE OF THE HIGHEST QUALITY IRON ORE PRODUCTS GLOBALLY WHICH CONTRIBUTES TO REDUCING EMISSIONS IN THE STEEL MAKING PROCESS > The Company commercially produces a 66.2% Fe iron ore concentrate and a >67.5% Fe Direct Reduction (DR) qu
Slide 10: Emission Reductions
CHAMPION IRON 2 TSX: CIA | ASX: CIA | OTCQX: CIAFF EMISSION REDUCTIONS IN ADDITION TO ITS LEADING POSITION AS A LOW EMISSION PRODUCER, CHAMPION’S PRODUCTS SIGNIFICANTLY REDUCE GLOBAL EMISSIONS BF/BOF EAF a > At the Phase Il expected nameplate capacity of > Atthe Phase Il expected nameplate capacity
Slide 11: Low Emission Footprint
LOW EMISSION FOOTPRINT CHAMPION IRON 2 TSX: CIA | ASX: CIA | OTCQX: CIAFF THE LABRADOR TROUGH, INCLUDING CHAMPION’S BLOOM LAKE MINE, HOLDS A LEADING POSITION ON EMISSION INTENSITY COMPARED TO OTHER HIGH-GRADE IRON ORE PRODUCING HUBS > Champion’‘s leading position advantaged by its high-grade product
Slide 12: Active Project Pipeline
⎪ ⎪ Active Project Pipeline Project Both Active/ 10 Pipeline 1 2 4 5 Est. Marketable Reserves (Bn MT) 3 Spare Port Project / Renewable Distance to # Capacity Portfolio Energy Port (Km) (Mtpa)6 NA1 1 MetalloInvest Est. Reserves 1 (Russia) 800+ + Resources Rest of Scale (Bn MT) 2 Canada4 429 3 S11D 97
Slide 13: Industry Decline in Quality
INDUSTRY DECLINE IN QUALITY CHAMPION IRON 2a BLOOM LAKE’S COMMERCIAL AND ADVANCED LABARATORY TEST PRODUCTS RANK AMONGST THE HIGHEST PURITY IN THE WORLD > Industry average grade has gradually SINTER FEED AVERAGE SINTER FEED AVERAGE declined over the last three decades FE % GANGUE % . . a 63.9% while
Slide 14: Recent Results
aoe CHAMPION IRON 249 RECENT RESULTS TSX: CIA | ASX: CIA | OTCQX : CIAFF
Slide 15: Bloom Lake Today
BLOOM LAKE TODAY CHAMPION IRON 2s STABLE OPERATIONAL RESULTS FOLLOWING SIGNIFICANT INVESTMENTS MADE SINCE THE RESTART OF BLOOM LAKE IN 2018 Y Champion purchased the Bloom Lake mine in 2016 and completed significant structural investments to optimize operations compared to the previous owner > Achiev
Slide 16: Result Highlights
RESULT HIGHLIGHTS CHAMPION IRON 2a > Over US$4 Billion invested at Bloom Lake by prior owners and Champion FISCAL 2022 TO DATE (6-MONTHS ENDING SEPTEMBER 30, 2021) @ Production of 4.03M wmt @ EBITDA of $605.8M H Net income of $338.9M MEPS of $0.67 > Consistent operational results since 2018 commissi
Slide 17: Premium Industry Position
PREMIUM INDUSTRY POSITION CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF PROVEN COST STRUCTURE... > Benefiting from premium pricing, Champion currently ranks as a cost leader within the industry (62% Fe equivalent) Product quality premium offsets freight differential when compared to Australian
Slide 18: Strong Financial Position
STRONG FINANCIAL POSITION CHAMPION IRON 2s Liquidity Summary AS AT SEPTEMBER 30, 2021 Cash & S-T Investments $522.9M { Restricted cash* $44.6M { ong Financial Partners @ oN © Paes sieborte RBC pro de ONDS FTQ SOCIETE Investissement 1D GENERALE EDC # Québec ieee SEclonen i) Desjardins CAT Ressources
Slide 19: Product Development and Growth Initiatives
PRODUCT DEVELOPMENT CHAMPION IRON 24 AND GROWTH INITIATIVES TSX: CIA | ASX; CIA | OTCQX : CIAFF
Slide 20: Growth Opportunities
GROWTH OPPORTUNITIES CHAMPION IRON 2a PROJECT PIPELINE Fr © oi OPERATING UNDER CONSTRUCTION STUDY STAGE DEVELOPMENT CONSOLIDATED FIRE LAKE NORTH MOIRE LAKE BLOOM LAKE BLOOM LAKE A ee PHASE | PHASE II TS CUES Gunnie 7.4 MTPA 15 MTPA* LAC LAMELEE ; FIRE LAKE NORTH HARVEY TUTTLE 9.3 MTPA* O'KEEFE PURDY
Slide 21: Phase II - Advanced Project
PHASE II - ADVANCED PROJECT CHAMPION IRON 2 TSX: CIA | ASX: CIA | OTCQX: CIAFF FULLY FINANCED PROJECT EXPECTED TO DOUBLE BLOOM LAKE NAMEPLATE CAPACITY* > Cumulative investments of $388.2M as of September 30, 2021* INDUSTRY CAPITAL INTENSITY (US$/T OF CAPACITY) $200 $100 ' a Greenfield Brownfield Pll
Slide 22: Phase II - Advancing Critical Work
PHASE II - ADVANCING CRITICAL WORK CHAMPION IRON 2s PROJECT SCHEDULED FOR COMPLETION BY MID-2022 > Several critical construction work programs completed, including the major tie-in between the Phase | and Phase ll project > Evaluating a potential accelerated completion schedule for the project curre
Slide 23: Labrador Trough - A World-Class Opportunity
LABRADOR TROUGH - A WORLD-CLASS OPPORTUNITY CHAMPION IRON 29 TSX: CIA | ASX: CIA | OTCQX: CIAFF REGIONAL ADVANTAGES & OPPORTUNITIES = Access to railway, deep-water port, renewable hydroelectric power and skilled labour = 7 iron rich properties within 60 kilometres of the Bloom Lake Mine BT of histor
Slide 24: Regrinding, Rougher Flotation, Scavenger Flotation
⎪ ⎪ > Regrinding Rougher Flotation > ScavengerFl otation 66.2% >69% Fe Fe >
Slide 25: Growing Industry Lack of Investments
GROWING INDUSTRY LACK OF INVESTMENTS CHAMPION IRON 2a STEEL OUTPUT IS RISING FASTER THAN IRON ORE SUPPLY IN MAJOR HUBS > Lack of development capital over the last 5-years, resulting in limited iron ore export growth from major hubs GLOBAL IRON ORE INDUSTRY AUSTRALIA + BRAZIL DEVELOPMENT CAPITAL (US$
Slide 26: Additional Material
ADDITIONAL MATERIAL CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX : CIAFF
Slide 27: Company Projects Mineral Resources & Reserves
COMPANY PROJECTS MINERAL RESOURCES & RESERVES CHAMPION IRON 2 TSX: CIA | ASX: CIA | OTCQX: CIAFF PROPERTY CHAMPION IRON LIMITED - MINERAL RES GROUP MEASURED Mt Fe% ON DRY METR INDICATED Mt Fe% MEAS + IND Mt Fe% INFERRED Mt Fe% SOURCE Bioam Lake Phase ll proven and probable reserves are based on the
Slide 28: Appendix - Notes on Historical Estimates
APPENDIX CHAMPION IRON 2s NOTES ON HISTORICAL ESTIMATES USED IN THE PRESENTATION 1. The historical Kami Project resource estimates are based on the National Instrument 43-101 technical report entitled "Feasibility Study of the Rose Deposit and Resource Estimate for the Mills Lake Deposit of the Kami
Slide 29: Thank You!
THANK YOU! SAN Senior Vice- President: Poeste Development and Capital Markets mmarcotte(@championiron. com head tuatl inal il 514-32624858