Champion Iron Ltd. · ASX:CIA
Champion Iron — Q4 FY2026 Earnings Presentation
24 slides from Champion Iron's earnings presentation, May 28, 2026
Slide 1: Fourth Quarter and 2026 Financial Year Results
FOURTH QUARTER AND 2026 FINANCIAL YEAR RESULTS ASX: CIA ⎪ TSX: CIA ⎪ OTCQX: CIAFF WEBCAST PRESENTATION – MAY 28, 2026 (MONTRÉAL) A SOLUTION TO DECARBONIZE STEELMAKING
Slide 2: Disclaimer
DISCLAIMER ASX: CIA ⎪ TSX: CIA ⎪ OTCQX: CIAFF This presentation (the "Presentation") contains informationabout ChampionIron 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 of,
Slide 3: Conference Call Participants
CONFERENCE CALL PARTICIPANTS ASX: CIA ⎪ TSX: CIA ⎪ OTCQX: CIAFF DAVID CATAFORD MICHAEL O’KEEFFE ALEXANDRE BELLEAU MICHAEL MARCOTTE Chief Executive Officer Executive Chairman Chief Operating Officer Senior Vice-President Corporate Development and Capital Markets 3
Slide 4: 2026 Fourth Quarter Highlights
2026 FOURTH QUARTER HIGHLIGHTS ASX: CIA ⎪ TSX: CIA ⎪ OTCQX: CIAFF 3,435,100 WMT $82.7/DMT SOLD $414.5M $352.9M CONCENTRATE PRODUCED TOTAL CASH COST1 REVENUES CASH2 3,455,400 DMT $96.9/DMT SOLD $114.3M $252.7M 3 WORKING CAPITAL CONCENTRATE SOLD 1 ALL-IN SUSTAINING COST EBITDA1 $971.1M 80.6% $23.2M SH
Slide 5: Community, Governance and Sustainability
COMMUNITY, GOVERNANCE AND SUSTAINABILITY ASX: CIA ⎪ TSX: CIA ⎪ OTCQX: CIAFF → Recipient of the 2026 Healthiest Workplace Award, presented by Dialogue Health Technologies Inc., recognizing our commitment to the health and well-being of our people → Celebrated a major milestone with our partners to re
Slide 6: ESG Disclosure and Performances
ESG DISCLOSURE AND PERFORMANCES TSX: CIA ⎪ ASX: CIA ⎪ OTCQX: CIAFF → Published the FY26 Sustainability Report in accordance with AASB S2, includingadditional disclosures referencing GRI and SASB, and the Modern Slavery Statement, which underscores our commitment to supply chain due diligence 1 → FY2
Slide 7: Operational & Financial Results
OPERATIONAL & FINANCIAL RESULTS TSX: CIA ⎪ ASX: CIA ⎪ OTCQX: CIAFF
Slide 8: Operational and Sales Highlights
OPERATIONAL AND SALES HIGHLIGHTS ASX: CIA ⎪ TSX: CIA ⎪ OTCQX: CIAFF → Quarterly production of3.4Mwmt (3.3Mdmt), an 8% increase year- over-year, but impacted quarter- over-quarter by the scheduled semi- annual maintenance at both concentration plants → Quarterly sales of 3.5Mdmt, comparable year-over
Slide 9: Operations Overview
OPERATIONS OVERVIEW ASX: CIA ⎪ TSX: CIA ⎪ OTCQX: CIAFF IRON ORE CONCENTRATE ORE MINED AND HAULED → Robust operational performances led by elevated volumes of ore PRODUCED (M WMT) (M WMT) 4 12 and waste mined, and improved ore recovery rates 10 3 → Fe recovery of 80.6%, compared to 78.3% year-over-ye
Slide 10: Industry Overview
INDUSTRY OVERVIEW ASX: CIA ⎪ TSX: CIA ⎪ OTCQX: CIAFF → The P65 iron ore index averaged US$120.8/t during the period, an increase of 1.7% quarter- over-quarter supported by a seasonal price recovery, economic policy support in China and rising cost pressures across the industry → The P65 premium over
Slide 11: Provisional Price Adjustment
PROVISIONAL PRICE ADJUSTMENT ASX: CIA ⎪ TSX: CIA ⎪ OTCQX: CIAFF → Realized an average price of US$117.2/t during the quarter for the 2.5M tonnes subject to provisional pricing at the end of Q3/FY26 → US$0.3M negative provisional pricing adjustment for Q4/FY26represents a negative impact of US$0.1/dm
Slide 12: Average Realized Selling Price
AVERAGE REALIZED SELLING PRICE ASX: CIA ⎪ TSX: CIA ⎪ OTCQX: CIAFF → Q4/FY26 gross average realized selling price1 of US$120.5/t, slightly lower than the P65 index average of US$ 120.8/t during the period → The 2.3Mdmt iron ore subject to pricing adjustments as at March 31, 2026, were evaluated using
Slide 13: Operating Cost Metrics
OPERATING COST METRICS ASX: CIA ⎪ TSX: CIA ⎪ OTCQX: CIAFF → Mining and processing costs1 totalled $60.0/dmt produced, a decrease of 3.3% year-over-year, mainly driven by an increase in production volumes, but negatively impacted by rising fuel prices at the end of the period → Land transportation an
Slide 14: Financial Highlights
FINANCIAL HIGHLIGHTS ASX: CIA ⎪ TSX: CIA ⎪ OTCQX: CIAFF → Quarterly revenues of $414.5M, EBITDA1 of $114.3M, net income of $23.2M and EPS of $0.04 REVENUE → Revenues were positively impacted year-over-year by an 11% increase in iron ore $600 ($M) concentrate sales volumes $500 $400 → Sustaining capi
Slide 15: Cash Change Details
CASH CHANGE DETAILS ASX: CIA ⎪ TSX: CIA ⎪ OTCQX: CIAFF → Cash of $296.8M, excluding restricted cash of $56.1M1 → Cash increased by $51.7M quarter-over-quarter, benefiting from robust net cash flows from operating activities, while the Company continued to advance the DRPF project and invest insustai
Slide 16: Balance Sheet and Liquidity Position
BALANCE SHEET AND LIQUIDITY POSITION ASX: CIA ⎪ TSX: CIA ⎪ OTCQX: CIAFF BALANCE SHEET LIQUIDITY POSITION $296.8M Cash Debt net of cash $ 365.4M $56.1M Cash in Kami Iron Mine Partnership1 (including working capital and restricted cash1) $252.7M Working capital2 $515.6M Available loans3 $971.1M Short-
Slide 17: Revised Dynamic Dividend Policy
REVISED DYNAMIC DIVIDEND POLICY ASX: CIA ⎪ TSX: CIA ⎪ OTCQX: CIAFF → Since FY22, Championpaid dividends cumulatingto $467.8M, supported by robust cash flows from operations and despite significant capital expenditures, including the Phase II expansion and the DRPF project → Champion’sBoard of Direct
Slide 18: Bloom Lake Completing Multi-Years CAPEX Cycle
BLOOM LAKE COMPLETING MULTI -YEARS CAPEX CYCLE ASX: CIA ⎪ TSX: CIA ⎪ OTCQX: CIAFF CUMULATIVE FREE CASH FLOW (FCF)1 WITH ANDWITHOUT GROWTH AND OTHER CAPEX SINCE FY22 ($M) 1,250 1,000 GROWTH CAPEX CYCLE GROWTH CAPEX CYCLE 750 DRPF expected 500 contribution Phase II 250 contribution2 – (250) Continuati
Slide 19: Oil Shock Supports Higher Floor for Iron Ore
OIL SHOCK SUPPORTS HIGHER FLOOR FOR IRON ORE ASX: CIA ⎪ TSX: CIA ⎪ OTCQX: CIAFF 1 COST CURVES → The recent surge in energy prices 2026 SEABORNE IRON ORE MINING has increased the seaborne cash CFR China cash cost2, VIU included, US$/t , 2026 real costs for iron ore producers, 3 including the 90th per
Slide 20: Growth & Development
ASX: CIA ⎪ TSX: CIA ⎪ OTCQX: CIAFF GROWTH & DEVELOPMENT TSX: CIA ⎪ ASX: CIA ⎪ OTCQX: CIAFF
Slide 21: DRPF Project Update
DRPF PROJECT UPDATE ASX: CIA ⎪ TSX: CIA ⎪ OTCQX: CIAFF DRPF PROJECT INVESTMENTS → DRPF project, upgrading half of Bloom Lake’s nameplate capacity from 66.2% Fe up to COMPARED TOTAL EXPECTED 69% Fe is progressing as scheduled, including the successful completion of theinitial CAPEX 1 production tests
Slide 22: Champion Completes Acquisition of Rana Gruber
CHAMPION COMPLETES ACQUISITION OF RANA GRUBER ASX: CIA ⎪ TSX: CIA ⎪ OTCQX: CIAFF On April 10, 2026, 10 years following the acquisition of Bloom Lake, Champion completed the Acquisition of Rana Gruber Proven asset with Robust cost capabilities to structure, including produce high-purity access to rel
Slide 23: Upholding Our Values for a Sustainable Future
THANK YOU TO OUR STAFF ASX: CIA ⎪ TSX: CIA ⎪ OTCQX: CIAFF UPHOLDING OUR VALUES FOR A SUSTAINABLE FUTURE TRANSPARENCY RESPECT INGENUITY PRIDE 23
Slide 24: Thank You!
THANK YOU! ASX: CIA ⎪ TSX: CIA ⎪ OTCQX: CIAFF Contact us for more information: Michael Marcotte, Senior Vice-President – Corporate Development and Capital Markets info@championiron.com +1 514-316-4858