Slide 1: A Rare Solution to Decarbonize Steelmaking
a : if : By ceed ls “4 - A RARE SOLUTION TO DECARBONIZE STEELMAKING CHAMPION IRON 24
Slide 2: Disclaimer
DISCLAIMER c on foan IRON 24 ‘This presentation (the ‘Presentatian")cantains information about Champion ronLinited(Champian’or the “Company". current as at the date hareaf or as t such earlier date as maybe specified herein This Presentatondoes not constitutaor form partof, and should at be construe
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-Pr rt Corporate and Capital Markets Devel
Slide 4: FY2024 Second Quarter Highlights
FY2024 SECOND QUARTER HIGHLIGHTS CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF Lap, or 3,447,200 WMT CONCENTRATE PRODUCED 2,883,800 DMT CONCENTRATE SOLD 77.8% ORE RECOVERY + ¥ $73.7/DMT TOTAL CASH COST? $99.1/DMT ALL-IN SUSTAINING COST" $387.6M REVENUES $155.0M EBITDA? $65.3M ADJ. NET INCOME?
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 > New health and safety statistics record set in the period by our Company's workers, including exceeding 500,000 hours worked and over
Slide 6: Community, Governance and Sustainability
COMMUNITY, GOVERNANCE AND SUSTAINABILITY CHAMPION IRON 2a > Announced 10-year financial support commitment for the Innu Nikamu Festival, the largest First Nations music festival in Québec, to increase awareness of the Innu culture and language > Annual activities and gatherings were held for all emp
Slide 7: Operational & Financial Results
OPERATIONAL & FINANCIAL RESULTS CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCOX: CIAFF
Slide 8: Industry Overview
INDUSTRY OVERVIEW CHAMPION IRON 2a > The P62 and P65 iron ore indices increased slightly by 2.8% and 0.8% from the previous quarter, respectively > The P65 premium over the P62 index decreased to 10% compared to 12% in the previous quarter, likely attributed to the reduced steel output in Europe and
Slide 9: New Records Set Despite Challenges
CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF NEW RECORDS SET DESPITE CHALLENGES > Record iron ore concentrate production of 3.45M wmt, despite an unscheduled outage related to a major crushed ore conveyor belt failure, affecting the availability of the Phase II concentrator for several days +
Slide 10: Operations Overview
OPERATIONS OVERVIEW CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF > Record quarterly iron ore production of 3.45M wmt, up slightly from the previous quarter and up 21% year-on-year > Additional commissioning of mining equipment enabled record quarterly material mined and hauled, up 14% quarter
Slide 11: Financial Highlights
FINANCIAL HIGHLIGHTS CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF +> Revenues of $387.6M, EBITDA! of $155.0M and adjusted EPS! of $0.13 > Financial results positively impacted by higher volumes of iron ore concentrate sold and a lower cost of sales per tonne sold, compared to the previous qua
Slide 12: Improving Operating Cost Metrics
IMPROVING OPERATING COST METRICS CHAMPION IRON 2a > Quarterly cash cost! per tonne positively impacted by the increased shipment volumes’ impact on fixed costs at the port terminal in Sept-lles amortized over more tonnes, benefit of operational improvements at the mine and the semi-annual trailing f
Slide 13: Provisional Price Adjustment
CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF PROVISIONAL PRICE ADJUSTMENT > 1.4M tonnes, which were subject to provisional pricing at the end of Q1/FY24, realized an average price of US$122.4/t during the quarter > 02/FY24 positive provisional pricing adjustment of US$1.6M represents a positi
Slide 14: Average Realized Selling Price
AVERAGE REALIZED SELLING PRICE CHAMPION IRON 2a TSX: CIA | ASX: CIA | OTCQX: CIAFF > 02/FY24 average gross realized price! of US$126.2/t, slightly above the P65 index average of US$125.0/t during the period > Average gross realized price? positively impacted by certain sales contracts based on backw
Slide 15: Cash Change Details
CASH CHANGE DETAILS CHAMPION IRON 2a > Cash of $316.5M was positively impacted by operating cash flow before working capital of $121.7M and change in working capital of $40.6M, partially offset by sustaining expenditures, equipment deposits and other expenditures of $90.4M CASH CHANGE FROM JUNE 30,
Slide 16: Liquidity and Debt Notes
⎪ ⎪ → → Notes Non-IFRS financial measure, ratio or other financial measure. Refer to the disclaimer at the p.2 Receivables: $123.6M; Income and mining taxes receivables: $14.0M; Prepaid expenses and advances: $37.2M; Inventories: $252.8M; accounts payable and other : ($221.9M); Income tax payable: (
Slide 17: A Global Solution for the Transitioning Steel Industry
A GLOBAL SOLUTION FOR THE Ls eadie pelt Risaniee TRANSITIONING STEEL INDU eae car es STRY
Slide 18: Source: Champion Iron Limited, BloombergNEF, company announcements Index set for steel with a maximum
⎪ ⎪ → → ▪ ▪ ▪ Source: Champion Iron Limited, BloombergNEF, company announcements Index set for steel with a maximum of 1 tonne of CO 2 per tonne of steel
Slide 19: Champion Iron
CHAMPION IRON TSX: CIA | ASX; CIA | OTCOX: CIAFF
Slide 20: Bloom Lake: Opportunities Beyond LoM
BLOOM LAKE > OPPORTUNITIES BEYOND LOM CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF Released the details of the updated mineral resources and reserves for Bloom Lake on August 22, 2023, including: > Confirmed 18 years life of Mine ("LoM"), based on the mineral reserves, including an average an
Slide 21: End of 2017 M+I resources, Rio Tinto Notice to ASX ‘’Changes to Simandou Ore
⎪ ⎪ → End of 2017 M+I resources, Rio Tinto Notice to ASX ‘’Changes to Simandou Ore Reserves and Mineral Resources’’, March 2018; See Champion`s November 2022 investor presentation at www.championiron.com for additional disclosure
Slide 22: DRPF Project: Expected H2/2025 Completion
DRPF PROJECT > EXPECTED H2/2025 COMPLETION CHAMPION IRON 2a DRPF PROJECT TOTAL EXPECTED CAPEX (C$M) LAA 66.2% 69% Fe Fe DRPF PROJECT: ADVANCING AS EXPECTED > Cumulative spend to date of $28.9M in connection with the . sage . Remaining capex initial budget previously approved by the Board to advance
Slide 23: Thank You to Our Staff
THANK YOU TO OUR STAFF CHAMPION IRON 2a ® PRIDE o8 INGENUITY <S) RESPECT aA TRANSPARENCY G2 GQ UPHOLDING OUR VALUES FOR A SUSTAINABLE FUTURE 23
Slide 24: Thank You!
THANK YOU! CHAMPION IRON 29