Slide 1: Q3 FY2024 Results Presentation
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Slide 2: Disclaimer
DISCLAIMER c on foan IRON 24 This This presentation(the Presentation") containsinfarmation about Champion ron Linted"Champian”r the "Company’?,currentas atthe date hereof eras at such earlier date as may bespecfedherein This Presentation oes nat canstitute or farm partor, and shauldnat be canstrued
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 Third Quarter Highlights
FY2024 THIRD QUARTER HIGHLIGHTS CHAMPION IRON 29 TSX: CIA | ASX: CIA | OTCQX: CIAFF & ‘ = om 4,042,600 WMT $506.9M $387.4M CONCENTRATE PRODUCED $73.0/DMT REVENUES CASH & CASH EQUIVALENTS, TOTAL CASH COST! 3,227,500 DMT $246.6M $549.5M CONCENTRATE SOLD EBITDA! SHORT-TERM AND $83.9/DMT LONG-TERM DEBT?
Slide 5: Sustainability Focused
SUSTAINABILITY FOCUSED CHAMPION IRON 2a TSX: CIA | ASX: CIA | OTCQX: CIAFF > No major environmental issues reported since the recommissioning of Bloom Lake in 2018 > Set a new health and safety statistic record by exceeding 500,000 hours worked without a recordable injury > Completed investments in
Slide 6: Community, Governance and Sustainability
COMMUNITY, GOVERNANCE AND SUSTAINABILITY CHAMPION IRON 2a > Honoured to present the Album of the Year in indigenous languages at Québec’s well recognized L’ADISQ Gala Partnered with Atikuss, the first magazine exclusively dedicated to the culture of Québec’s First Nations Welcomed our partners from
Slide 7: Operational & Financial Results
S * =!CHAMPIONARON ZX See TSX PBS EIA | OTC OX; CALE at “y OPERATIONAL:6 FINANCIAL RESULT
Slide 8: Industry Overview
INDUSTRY OVERVIEW CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF > The P62 and P65 iron ore indices increased by 12.5% and 10.9% respectively, from the previous quarter > The average P65 premium over the P62 index was stable compared to the previous period, but remained near historical lows due
Slide 9: Bloom Lake Reaching Nameplate Capacity
BLOOM LAKE REACHING NAMEPLATE CAPACITY CHAMPION IRON 2a TSX: CIA | ASX: CIA | OTCQX: CIAFF > Increased operational stability, resulting in a record quarterly iron ore concentrate production of 4.04M wmt, up 17% from the previous quarter, surpassing Bloom Lake’s expanded nameplate capacity of 15 Mtpa
Slide 10: Operations Overview
OPERATIONS OVERVIEW CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF > Material mined and hauled increased 8% quarter-on-quarter and 38% year-on-year > Work programs and optimizations significantly improved iron ore recoveries which are now approaching the Company's 82% target > Stripping activit
Slide 11: Financial Highlights
FINANCIAL HIGHLIGHTS CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF > Significant improvement in financial results quarter-on-quarter, including EBITDA? ($M) revenues of $506.9M, EBITDA! of $246.6M and adjusted EPS? of $0.24 $300 > Financial results positively impacted by higher volumes of iron
Slide 12: Improving Operating Cost Metrics
CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF IMPROVING OPERATING COST METRICS > Continued to optimize operating costs metrics, with a total cash cost! of $73.0/t, despite additional expenditures in relation to seasonal activities and energy consumption, and rising prices for explosives, diese
Slide 13: Provisional Price Adjustment
PROVISIONAL PRICE ADJUSTMENT CHAMPION IRON 2a TSX: CIA | ASX: CIA | OTCQX: CIAFF > 1.3M tonnes, which were subject to provisional pricing at the end of Q2/FY24, realized an average price of US$135.4/t during the quarter > 03/FY24 positive provisional pricing adjustment of US$12.3M represents a posit
Slide 14: Average Realized Selling Price
AVERAGE REALIZED SELLING PRICE CHAMPION IRON 2a TSX: CIA | ASX: CIA | OTCQX: CIAFF > 03/FY24 average gross realized price! of US$144.0/t, above the P65 index average of US$138.7/t during the period > Average gross realized price positively impacted by iron ore sales in transit at the end of the peri
Slide 15: Cash Change Details
CASH CHANGE DETAILS CHAMPION IRON 2a > Cash! of $387.4M was positively impacted by operating cash flow before working capital of $189.0M, partially offset by change in working capital of $26.4M, CAPEX and non-current advance payments of $100.0M CASH CHANGE FROM SEPTEMBER 30, 2023 TO DECEMBER 31, 202
Slide 16: Robust Balance Sheet and Liquidity Position
ROBUST BALANCE SHEET AND LIQUIDITY POSITION CHAMPION IRON 2s BALANCE SHEET LIQUIDITY POSITION zal $387.4M Cash and cash equivalents Cash net of debt of $65.9M $228.0M Working capital’? (including working capital) =a $549.5M Short-term & Long-term debt? od $550.3M Available & undrawn loans* > The Com
Slide 17: Increased Financial Flexibility
INCREASED FINANCIAL FLEXIBILITY CHAMPION IRON 2a > Procured a new US$230M Term Loan, maturing in November 2028, with no principal repayment before June 2026 > Repaid the US$180M balance from the Company's existing US$400M revolving credit facility, and extended its maturity from May 2026 to November
Slide 18: A Global Solution for the Transitioning Steel Industry
A GLOBAL SOLUTION FOR THE CHAMPION IRON 2 TRANSITIONING STEEL INDUSTRY TSX: CIA | ASX: CIA | OTCOX : CIAFF
Slide 19: Global Announcements Supporting Green Steel
GLOBAL ANNOUNCEMENTS SUPPORTING GREEN STEEL CHAMPION IRON 2a STEEL STANDARDS PRINCIPLES rt COP28, several countries including Canada, Germany, UK and US, pledged to procure green steel for public infrastructure construction, aero nent ZC BOSTON & which is responsible for 25% of global construction r
Slide 20: Growth Projects
GROWTH PROJECTS Ce ee
Slide 21: Critical Mineral for the Future
CHAMPION IRON 24 CRITICAL MINERAL FOR THE FUTURE TSK: CIA | ASX: CIA |OTCOX: CIAFF > Recognizing its positive impact in reducing GHG emissions in steelmaking and its importance in the green steel supply chain, high-purity iron ore was listed on the province of Québec’s and Newfoundland and Labrador’
Slide 22: DRPF Project: Expected H2/2025 Completion
DRPF PROJECT > EXPECTED H2/2025 COMPLETION CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF Fe DRPF PROJECT: FINAL INVESTMENT DECISION > Significant available financial liquidity and recently announced allocation of additional hydroelectric power required for the Project, enabled the Board to app
Slide 23: Green Steel Supply Chain Solutions
GREEN STEEL SUPPLY CHAIN SOLUTIONS CHAMPION IRON 2a > Inkeeping with its diligent approach towards growth and its vision to be a leader in the green steel supply chain, Champion's projects are strategically positioned to sustainably address the supply deficit of high purity iron required to reduce e
Slide 24: Kami Project: Access to Infrastructure
KAMI PROJECT > ACCESS TO INFRASTRUCTURE CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF HE Geren nLite [Aeron coed ne [ome aare Legend “| KAMI PROJECT Sizeable high-purity iron resource, significantly de-risked by the Project's previous owners Strategically located near available infrastructure
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al use only ⎪ ⎪ Tailings Management Facility
Slide 26: Kami Study Highlights: Economic Results
KAMI STUDY HIGHLIGHTS > ECONOMIC RESULTS CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF > Positive findings of the study, resulting in after tax economics of: = Base case NPV of $541M and IRR of 9.8% = 3-year trailing prices NPV of $2,195M and IRR of 14.8% Completion of the study enables the Co
Slide 27: Kami Project Capex Intensity
KAMI PROJECT aaa PION IRON 2 > Considering recent inflationary pressures and additional investments required to produce DR quality pellet feed iron ore, the Kami Project's expected capital intensity of US$331/wmt of production capacity is competitive with recently completed high- grade concentrate g
Slide 28: Thank You to Our Staff
THANK YOU TO OUR STAFF CHAMPION IRON 2a ® PRIDE <@ INGENUITY GQ Ga <p RESPECT aA TRANSPARENCY G2 GQ UPHOLDING OUR VALUES FOR A SUSTAINABLE FUTURE 28
Slide 29: Thank You!
THANK YOU! CHAMPION IRON 249 Mei 2S act us for more information: * a Michael Marcotte, Senior Vice-President - Corporate Development and Capital Markets . —_ = ideal com 514-316-4858 . ~ a gas bh rai ‘ * —— .