Champion Iron Ltd. · ASX:CIA
Champion Iron — Investor Presentation (October 2025)
29 slides from Champion Iron's investor presentation, October 2025
Slide 1: Investor Presentation October 2025
INVESTOR PRESENTATION OCTOBER 2025 A SOLUTION TO DECARBONIZE STEELMAKING
Slide 2: Disclaimer
DISCLAIMER TSX: CIA ⎪ ASX: CIA ⎪ OTCQX: CIAFF This presentation (the "Presentation") contains information about Champion Iron Limited ("Champion" or the "Company"), current as at the date hereof or as at such earlier date as may be specified herein. This Presentation does not constitute or form part
Slide 3: Corporate Overview
CORPORATE OVERVIEW TSX: CIA ⎪ ASX: CIA ⎪ OTCQX: CIAFF RARE HIGH-PURITY IRON ORE RESOURCES ENABLING GREEN STEELMAKING → 9.0% management ownership and 8.3% ownership by the government of Québec1 → Nameplate capacity of 15M tpa high-purity 66.2% Fe iron ore concentrate → Cumulative investments at Bloom
Slide 4: A Global Solution for the Transitioning Steel Industry
A GLOBAL SOLUTION FOR THE TSX: CIA ⎪ ASX: CIA ⎪ OTCQX : CIAFF TRANSITIONING STEEL INDUSTRY
Slide 5: High Purity Iron Ore: A Solution for Green Steel
HIGH PURITY IRON ORE → A SOLUTION FOR GREEN STEEL TSX: CIA ⎪ ASX: CIA ⎪ OTCQX: CIAFF THE STEEL INDUSTRY WILL NEED TO ADAPT TO LIMIT EMISSIONS Mining Freight → Steelmaking increased its 1% 2% Agglomeration share of global emissions in 12% the last 20 years, now Agriculture, forestry and soil manageme
Slide 6: Governments Supporting the Green Steel Transition
GOVERNMENTS SUPPORTING THE GREEN STEEL TRANSITION TSX: CIA ⎪ ASX: CIA ⎪ OTCQX: CIAFF 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 in 2023, minerals list identified by the Qu
Slide 7: A Proven Solution to Decarbonize Steelmaking
A PROVEN SOLUTION TO DECARBONIZE STEELMAKING TSX: CIA ⎪ ASX: CIA ⎪ OTCQX: CIAFF METHOD INPUTS PROCESS CHAMPION’S IMPACT BF-BOF Lower grades Sintering or 66.2% *Bloom Lake’s iron Blast Furnace Fe ore concentrate Basic Oxygen Furnace ~2.2t CO2e/t Iron ore concentrate* BF BOF enables emissions Pelletiz
Slide 8: DRI Already a Growing Market
DRI ALREADY A GROWING MARKET TSX: CIA ⎪ ASX: CIA ⎪ OTCQX: CIAFF DRI PRODUCTION INCREASING DESPITE A LACK OF GROWTH IN THE STEEL SECTOR → Supported by several governments, the GLOBAL CRUDE STEEL AND DRI PRODUCTION accelerating industry transition from BF-BOF (M tpa) to DRI-EAF resulted in increased D
Slide 9: Positioned to Service a Growing Industry
POSITIONED TO SERVICE A GROWING INDUSTRY TSX: CIA ⎪ ASX: CIA ⎪ OTCQX: CIAFF EUROPE, MIDDLE EAST AND NORTH AFRICA CONTINUE TO INVEST IN ADDITIONAL DRI/EAF STEELMAKING CAPACITY → Continued government support across Europe to → Multiple announcements of low-emission iron and steel invest in DRI/EAF cap
Slide 10: Additional DRI Growth Expected
ADDITIONAL DRI GROWTH EXPECTED TSX: CIA ⎪ ASX: CIA ⎪ OTCQX: CIAFF DRI GROWTH IS SET TO CONTINUE WITH SIGNIFICANT NEW DRI PROJECTS UNDERWAY, INCLUDING SEVERAL RECEIVING GOVERNMENT SUPPORT 10 Source: Wood Mackenzie
Slide 11: Few Miners Are Capable of Producing High-Grade Iron Ore
FEW MINERS ARE CAPABLE OF PRODUCING HIGH-GRADE IRON ORE TSX: CIA ⎪ ASX: CIA ⎪ OTCQX: CIAFF MARKET LEADING HIGH-PURITY DR QUALITY PRODUCT IN A GROWING MARKET SUMMARY OF PRODUCING IRON ORE ASSETS QUALITY BY IRON AND GANGUE CONTENTS (2024 DATA) Primarily Australia Primarily Brazil, Canada, Ukraine and
Slide 12: Contaminants Are a Growing Industry Concern
CONTAMINANTS ARE A GROWING INDUSTRY CONCERN TSX: CIA ⎪ ASX: CIA ⎪ OTCQX: CIAFF WHILE THE STEEL INDUSTRY REQUIRES INCREASINGLY HIGHER PURITY IRON ORE TO DECARBONIZE, QUALITY HAS DECLINED FOR AUSTRALIA’S MAJOR IRON ORE PRODUCERS AUSTRALIA’S MAJOR IRON ORE PRODUCERS ASSETS QUALITY BY IRON AND GANGUE CO
Slide 13: Low Impact Locally & Scaleable Positive Impact Globally
LOW IMPACT LOCALLY & SCALEABLE POSITIVE IMPACT GLOBALLY TSX: CIA ⎪ ASX: CIA ⎪ OTCQX: CIAFF → Canadian high-purity iron ore is produced with one of the lowest carbon intensities globally → A complete transition of Bloom Lake’s 15M tpa nameplate capacity to DRPF quality iron ore could eliminate nearly
Slide 14: Champion Iron Recent Results
TSX: CIA ⎪ ASX: CIA ⎪ OTCQX : CIAFF CHAMPION IRON TSX: CIA ⎪ ASX: CIA ⎪ OTCQX : CIAFF RECENT RESULTS 14
Slide 15: Strong Results While Solidifying Operations
STRONG RESULTS WHILE SOLIDIFYING OPERATIONS TSX: CIA ⎪ ASX: CIA ⎪ OTCQX: CIAFF → FY25 Results: Production of 13.8M wmt, a slight decrease of BLOOM LAKE PRODUCTION HISTORY 2.3% year-over-year, representing 92.2% of Bloom Lake’s (MILLION WMT/YEAR) nameplate capacity of 15M wmt. Production impacted by
Slide 16: Q1/FY26 Operational Results
Q1/FY26 OPERATIONAL RESULTS TSX: CIA ⎪ ASX: CIA ⎪ OTCQX: CIAFF BLOOM LAKE MINE PITS → The Company recently encountered higher ore hardness and lower head grades, partly attributable to an extension of the Pignac pit currently being mined → Mining this extension is expected to eventually enable a sho
Slide 17: Record Sales and Diversified Customers
RECORD SALES AND DIVERSIFIED CUSTOMERS TSX: CIA ⎪ ASX: CIA ⎪ OTCQX: CIAFF > FY25 Results: Record annual iron ore concentrate sales of 13.5M dmt, an FY2025 SHIPMENTS increase of 15.9% year-over-year, despite being impacted by several Korea Indonesia 2% factors including: Europe 1% A disconnect in r
Slide 18: Optimizing Cost Structure
OPTIMIZING COST STRUCTURE TSX: CIA ⎪ ASX: CIA ⎪ OTCQX: CIAFF TOTAL CASH COST1 (C$/DMT) Phase II Approx. 40% $120 ramp up reduction → FY25 Results: Total cash cost1 of $78.3/dmt → Q1FY26 Results: Total cash cost1 of $81.9/dmt, $78.31 was negatively impacted by the drawdown of higher $80 cost inventor
Slide 19: Rising Industry Costs Supporting Iron Ore Prices
RISING INDUSTRY COSTS SUPPORTING IRON ORE PRICES TSX: CIA ⎪ ASX: CIA ⎪ OTCQX: CIAFF IRON ORE PRICES REBOUNDED NEAR COSTS OF THE 95TH PERCENTILE OF GLOBAL PRODUCERS > Impacted by weaker steel output in China and HISTORICAL IRON ORE 62% FE PRICE VS INDUSTRY ADJUSTED COST CURVE CFR CHINA (US$/T) season
Slide 20: Robust Financial Results and Balance Sheet
ROBUST FINANCIAL RESULTS AND BALANCE SHEET TSX: CIA ⎪ ASX: CIA ⎪ OTCQX: CIAFF ROBUST FINANCIAL RESULTS AND LIQUIDITY, POSITIONING THE COMPANY TO DILIGENTLY EVALUATE GROWTH OPPORTUNITIES WHILE CONTINUING ITS CAPITAL RETURN STRATEGY BALANCE SHEET AS AT JUNE 30, 2025 $1.50 ADJUSTED EPS (C$)1 $176.1M Ca
Slide 21: Multi-Year Investments Self Funded
MULTI-YEAR INVESTMENTS SELF FUNDED TSX: CIA ⎪ ASX: CIA ⎪ OTCQX: CIAFF SIGNIFICANT INVESTMENTS AT BLOOM LAKE PRIMARILY FUNDED THROUGH CASH FLOWS FROM OPERATIONS → 2017-2018: Investments to optimize Phase I, resulted in higher CASH SOURCES AND USES SINCE FY2017 (C$M)1 production volumes and lower cost
Slide 22: Product Development and Growth Initiatives
TSX: CIA ⎪ ASX: CIA ⎪ OTCQX : CIAFF PRODUCT DEVELOPMENT TSX: CIA ⎪ ASX: CIA ⎪ OTCQX : CIAFF AND GROWTH INITIATIVES 22
Slide 23: DRPF Project Update
DRPF PROJECT UPDATE TSX: CIA ⎪ ASX: CIA ⎪ OTCQX: CIAFF → DRPF project, upgrading half of Bloom Lake’s nameplate capacity from 66.2% DRPF PROJECT INVESTMENTS COMPARED TO THE STUDY TOTAL EXPECTED CAPEX 1 Fe up to 69% Fe, is progressing as scheduled with commissioning planned to start in December 2025
Slide 24: Kami Project Highlights
KAMI PROJECT HIGHLIGHTS TSX: CIA ⎪ ASX: CIA ⎪ OTCQX: CIAFF KAMI PROJECT > Sizeable high-purity iron resource > Located a few kilometers southeast of Bloom Lake KAMI > Potential to access hydroelectric power and utilize the same rail and port as Bloom Lake BLOOM LAKE PROJECT MOIRÉ LAKE PRE-FEASIBLITY
Slide 25: Kami Milestone
KAMI MILESTONE TSX: CIA ⎪ ASX: CIA ⎪ OTCQX: CIAFF → On September 29, 2025, Champion announced the initial closing of a transaction contemplated by the previously announced framework agreement with Nippon Steel Corporation (“Nippon Steel”) and Sojitz Corporation (“Sojitz”, collectively “the Partners”
Slide 26: Kami Project vs Completed Greenfield Projects
KAMI PROJECT VS COMPLETED GREENFIELD PROJECTS TSX: CIA ⎪ ASX: CIA ⎪ OTCQX: CIAFF → 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/wmt1 → Recently com
Slide 27: Cluster II Opportunity
CLUSTER II OPPORTUNITY TSX: CIA ⎪ ASX: CIA ⎪ OTCQX: CIAFF DE-RISKING ONE OF THE WORLD’S LARGEST HIGH-PURITY IRON ORE RESOURCE OPPORTUNITIES CLUSTER II → Within 60 km of Bloom Lake, O’Keefe-Purdy Champion controls the Cluster II portfolio of properties → Cluster II is one of the largest Harvey Tuttle
Slide 28: Upholding Values for a Sustainable Future
THANK YOU TO OUR STAFF TSX: CIA ⎪ ASX: CIA ⎪ OTCQX: CIAFF UPHOLDING VALUES FOR A SUSTAINABLE FUTURE TRANSPARENCY RESPECT INGENUITY PRIDE 28
Slide 29: Thank You!
THANK YOU! TSX: CIA ⎪ ASX: CIA ⎪ OTCQX : CIAFF Contact us for more information Michael Marcotte, CFA Senior Vice-President – Corporate Development and Capital Markets info@championiron.com 514-316-4858