Champion Iron Ltd. · ASX:CIA

Champion Iron — FY2020 Earnings Presentation

22 slides from Champion Iron's earnings presentation, May 20, 2020

1. Slide 1: Fourth Quarter and Annual Results of the 2020 Fiscal Year

   FOURTH QUARTER AND ANNUAL RESULTS OF THE 2020 FISCAL YEAR For personal use only

2. Slide 2: Disclaimer

   DISCLAIMER For personal use only TSX: CIA ⎪ ASX: CIA

3. Slide 3: Conference Call Participants

   CONFERENCE CALL PARTICIPANTS For personal use only TSX: CIA ⎪ ASX: CIA

4. Slide 4: FY2020 Fourth Quarter Highlights

   FY2020 FOURTH QUARTER HIGHLIGHTS For personal use only TSX: CIA ⎪ ASX: CIA *Cash and cash equivalent including short-term investments ** Long-term debt face value of US$200M

5. Slide 5: COVID-19 Response

   COVID-19 RESPONSE For personal use only → → → TSX: CIA ⎪ ASX: CIA

6. Slide 6: Health & Safety

   HEALTH & SAFETY For personal use only → → → QUEBEC IRON ORE + CONTRACTORS FINANCIAL YEAR 2020 Q1 Q2 Q3 Q4 YTD BENCHMARK 2019* Lost Time Injury Frequency Rate (LTIFR) 4.28 4.85 4.37 2.58 4.1 3,38 Disability Injury Severity Rate (DISR) 6.85 33.99 26.62 17.54 24.94 9 TSX: CIA ⎪ ASX: CIA

7. Slide 7: Environment Focus

   ENVIRONMENT FOCUS For personal use only → → → → → TSX: CIA ⎪ ASX: CIA

8. Slide 8: Industry Overview

   INDUSTRY OVERVIEW For personal use only → → → TSX: CIA ⎪ ASX: CIA *P62: Platts TSI IODEX 62% Fe CFR China; P65: Platts IO Fines 65% Fe CFR China

9. Slide 9: Bloom Lake Operational Results

   BLOOM LAKE OPERATIONAL RESULTS For personal use only TSX: CIA ⎪ ASX: CIA

10. Slide 10: Operations Overview

    OPERATIONS OVERVIEW For personal use only TSX: CIA ⎪ ASX: CIA

11. Slide 11: Successful Production Test

    SUCCESSFUL PRODUCTION TEST For personal use only → → → → TSX: CIA ⎪ ASX: CIA Source: Champion Iron Limited, Wood Mackenzie data 1 Wood Mackenzie research

12. Slide 12: Rare Product in Stable Jurisdiction

    RARE PRODUCT IN STABLE JURISDICTION For personal use only → → TSX: CIA ⎪ ASX: CIA Source: Champion Iron Limited, Wood Mackenzie data

13. Slide 13: Fourth Quarter Financial Results

    FOURTH QUARTER FINANCIAL RESULTS For personal use only TSX: CIA ⎪ ASX: CIA

14. Slide 14: Fourth Quarter Financial Results

    FOURTH QUARTER FINANCIAL RESULTS For personal use only → → → → TSX: CIA ⎪ ASX: CIA

15. Slide 15: Fourth Quarter Average Realized Selling Price

    FOURTH QUARTER AVERAGE REALIZED SELLING PRICE For personal use only → → TSX: CIA ⎪ ASX: CIA

16. Slide 16: Positive Cash Operating Margin

    POSITIVE CASH OPERATING MARGIN For personal use only → → TSX: CIA ⎪ ASX: CIA

17. Slide 17: Balance Sheet Positioned for Growth

    BALANCE SHEET POSITIONED FOR GROWTH For personal use only TSX: CIA ⎪ ASX: CIA

18. Slide 18: Cash Increase Details

    CASH INCREASE DETAILS For personal use only → → TSX: CIA ⎪ ASX: CIA

19. Slide 19: Phase II – Status Update

    PHASE II – STATUS UPDATE For personal use only TSX: CIA ⎪ ASX: CIA

20. Slide 20: Phase II Update

    PHASE II UPDATE For personal use only → → → → → → → TSX: CIA ⎪ ASX: CIA

21. Slide 21: Thank You to Our Staff

    THANK YOU TO OUR STAFF For personal use only TSX: CIA ⎪ ASX: CIA

22. Slide 22: Thank You!

    For personal use only THANK YOU! Contact us for more information. DAVID CATAFORD, MICHAEL MARCOTTE, CEO VP INVESTOR RELATIONS deataford@championironmines.com mmarcotte@championironmines.com 1100 René-Lévesque Bivd. West, Suite 610 Montreal QC H3B 4N4 LAX Tel.: +1514 316 4958 CHAM PION Fax.: +1 51481

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