Champion Iron Ltd. · ASX:CIA
Champion Iron — Investor Presentation (October 2025)
21 slides from Champion Iron's investor presentation, Oct 30, 2025
Slide 1: A Solution to Decarbonize Steelmaking
ECUND QUARYWEF re AST) PRESENTAY AVION > OCT A SOLUTION TO D ECARBONIZE STEELMAKING ~ CHAMP ION IR ON ZY
Slide 2: Disclaimer
DISCLAIMER CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCOX: CIAFF Thispresentatin the “Presentation")containsinfarmation about Champion IranLimited(Champian”er the "Company" current as atthe ate hereafar as at suchearler date as maybe specified herein. This Presentationcaes natcanstitutear form partef,
Slide 3: Conference Call Participants
CHAMPION IRON 24 CONFERENCE CALL PARTICIPANTS TSK: CIA | ASX: CIA | OTCOX: CIAFF DAVID CATAFORD ALEXANDRE BELLEAU MICHAEL MARCOTTE Chief Executive Officer Chief Operating Officer Senior Vice-President Corporate Development and Capital Markets
Slide 4: FY2026 Second Quarter Highlights
CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF = Pe m FY2026 SECOND QUARTER HIGHLIGHTS 3,551,600 WMT $76.2/DMT SOLD $492.9M $325.5M CONCENTRATE PRODUCED TOTAL CASH COST? REVENUES CASH & CASH EQUIVALENTS 3,850,900 OMT $96.9/DMT SOLD $174.8M $254.4M CONCENTRATE SOLD ALL-IN SUSTAINING COST? EBITDA
Slide 5: Community, Governance and Sustainability
COMMUNITY, GOVERNANCE AND SUSTAINABILITY CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF > Invited by the Prime Minister of Canada to join an economic roundtable discussion, addressing the importance of Canada’s high-purity iron ore industry to grow export markets and the global efforts to decar
Slide 6: Operational & Financial Results
OPERATIONAL & FINANCIAL RESULTS CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCOX: CIAFF FIERS DE NOTRE FER
Slide 7: Operational and Sales Highlights
OPERATIONAL AND SALES HIGHLIGHTS CHAMPION IRON 2a > Quarterly production of 3.6M wmt (3.4M dmt), positively impacted by higher recoveries from improved performance of the gravimetric systems following optimization work, but negatively impacted by scheduled semi-annual maintenance and processing ore
Slide 8: Operations Overview
OPERATIONS OVERVIEW CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF > Record combined ore and waste mined and hauled in the period, driven by investments in additional mining equipment, and enhanced utilization and availability of the fleet > Increased stripping activities in accordance with the
Slide 9: Industry Overview
INDUSTRY OVERVIEW CHAMPION IRON 2a > The P65 iron ore index averaged US$117.4 during the period, an increase of 8.3% quarter-over-quarter, supported by healthier steel mill profitability, China's seasonal restocking, its positioning for additional stimulus and anti-involution reform potentially impa
Slide 10: Provisional Price Adjustment
PROVISIONAL PRICE ADJUSTMENT CHAMPION IRON 2a > Realized an average price of US$112.4/t during the quarter for the 2.5M tonnes subject to provisional pricing at the end of Q1/FY26 > US$30.0M positive provisional pricing adjustment for Q2/FY26 represents a positive impact of US$7.8/dmt on the average
Slide 11: Average Realized Selling Price
CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF AVERAGE REALIZED SELLING PRICE > 02/FY26 average gross realized price? of US$114.2/t, lower than the P65 index average of US$117.4/t during the period > Average gross realized price negatively impacted by the 2.5 Mt in transit as at September 30, 2
Slide 12: Operating Cost Metrics
CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF OPERATING COST METRICS > Mining and processing costs! totalled $52.9/dmt produced, a decrease of 8.3% year-over-year, mainly driven by higher production volumes over which to amortize fixed costs and improved recovery rates > Land transportation an
Slide 13: Financial Highlights
FINANCIAL HIGHLIGHTS CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF > Quarterly revenues of $492.9M, EBITDA! of $174.8M and EPS of $0.11 > Revenues were positively impacted quarter-over-quarter by several factors, including $800 an increase in iron ore sales volumes and an increase in average n
Slide 14: Cash Change Details
CASH CHANGE DETAILS CHAMPION IRON 2a > Cash! of $325.5M, an increase of $149.4M quarter-over-quarter, net of a semi-annual dividend paid in the period and the ongoing investments to advance the DRPF project > The cash balance increased with the proceeds from the US$500M Senior Unsecured Notes issuan
Slide 15: Balance Sheet and Liquidity Position
BALANCE SHEET AND LIQUIDITY POSITION CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF BALANCE SHEET $325.5M Cash and cash equivalents $68.6M Cash in Kami Iron Mine Partnership! $254.4M Working capital? —_ = | rd $987.0M Short-term & Long-term debt ry NINTH CONSECUTIVE in. SEMI-ANNUAL DIVIDEND > A
Slide 16: Growth Projects
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Slide 17: DRPF Project Update
CHAMPION IRON 24 DRPF PROJECT UPDATE TSX: CIA | ASX: CIA | OTCQX: CIAFF > > DRPF project, upgrading half of Bloom Lake’s nameplate capacity from 66.2% Fe up to 69% Fe is progressing as scheduled DRPF PROJECT INVESTMENTS COMPARED TOTAL EXPECTED CAPEX' Project initial commissioning is expected to comm
Slide 18: Kami Milestones
KAMI MILESTONES CHAMPION IRON 2a > 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 with Nippon Steel, “the Partner
Slide 19: Deteriorating Global Seaborne Iron Ore Quality
CHAMPION IRON 24 DETERIORATING GLOBAL SEABORNE IRON ORE QUALITY TSX: CIA | ASX: CIA | OTCOX: CIAFF THE QUALITY OF IRON ORE SHIPPED BY MAJOR IRON ORE PRODUCERS HAS DETERIORATED IN RECENT YEARS, INCLUDING DECLINING IRON CONTENT AND RISING IMPURITIES DECLINING QUALITY AND RISING RISING LOW GRADE VS. HI
Slide 20: Thank You to Our Staff
THANK YOU TO OUR STAFF CHAMPION IRON 2a UPHOLDING VALUES FOR A SUSTAINABLE FUTURE TRANSPARENCY RESPECT INGENUITY 20
Slide 21: Thank You!
THANK YOU! CHAMPION IRON 24 Mee . Tz aE . pat ae Contact us for more information: -- . _Michael Marcotte, Senior Vice-President - Corporate Development and Capital Markets P info@championiron.com +1 514-316-4858 a aly a ie : nS - a. a