Slide 1: Roadshow Presentation
ROADSHOW PRESENTATION ieee 7" PREMIUM PRODUCT, TIER 1 JURISDICTION, CHAM P| ON IRON LAX HIGH QUALITY INFRASTRUCTURE
Slide 2: Disclaimer
DISCLAIMER CHAMPION IRON 24 This presentation contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words “expect”. anticipate”. ‘continue "estimate", "may", "project", "should", "believe", "plans", “intends”, “forecast” a
Slide 3: Corporate Overview
CORPORATE OVERVIEW BLOOM LAKE
Slide 4: Structural Shift in Iron Ore
STRUCTURAL SHIFT IN IRON ORE > ✓ Champion sells based on P65 premium benchmark > $160 P62 & P65 PREMIUM - 5 YEARS (US$) $140 $120 > $100 $80 $60 $40 $20 $- 04-09-2014 04-09-2016 04-09-2018 P62 ($US) P65 Premium ($US) Source: Platts, Bloomberg; P62: Platts TSI IODEX 62% Fe CFR China; P65: Platts IO F
Slide 5: Canada 2nd Largest Region in High-Grade
CANADA 2ND LARGEST REGION IN HIGH-GRADE > > SWEDEN – 16,1 CANADA RUSSIA 52 18,1 > UKRAINE 17 INDIA 2,5 BRAZIL 385,4 AUSTRALIA 31,7 SOUTH AFRICA 14
Slide 6: Competing on Cost Curve
COMPETING ON COST CURVE > GLOBAL SEABORN COST CURVE (CFR CHINA – ADJUSTED FOR VIU) >
Slide 7: Positioned for Profitability
POSITIONED FOR PROFITABILITY > > P62: Platts TSI IODEX 62% Fe CFR China
Slide 8: Corporate Snapshot (CIA-TSX; CIA-ASX)
CORPORATE SNAPSHOT (CIA-TSX; CIA-ASX) MARKET STATISTICS (C$M) SHAREHOLDERS INSIDERS UNDISCLOSED 9.8% 15.4% INSTITUTIONAL RETAIL 12.2% 12.7% CORPORATE WYNNCHURCH 1.5% CAPITAL 15.5% FAMILY RESSOURCES QUEBEC OFFICES 8.7% 24.3%
Slide 9: History of Bloom Lake vs Iron Ore Price (C$/t)
HISTORY OF BLOOM LAKE VS IRON ORE PRICE (C$/T) Cliffs Acquires Bloom Lake CLM for C4.9B Recommissioned Cliffs seeks creditor QIO Releases 1st Shipment protection Feasibility Study QIO Acquires Bloom Lake VALE Events *P62: Platts TSI IODEX 62% Fe CFR China; P65: Platts IO Fines 65% Fe CFR China
Slide 10: Labrador Trough = World-Class Opportunity
LABRADOR TROUGH = WORLD-CLASS OPPORTUNITY > > > > > Mont-Wright > (AMMC) >
Slide 11: Cost Structure Improvement (2014 vs Today)
COST STRUCTURE IMPROVEMENT (2014 VS TODAY) >
Slide 12: Bloom Lake Today
BLOOM LAKE TODAY CHAMPION IRON 29 > Achieved highest annual production on record BLOOM LAKE PRODUCTION HISTORY (WMT/YEAR) 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 > Achieved lowest cash cost on record $60 $50 BLOOM LAKE TOTAL CASH COST (C$/dmt) - FISCAL 2019 $7.03 $49.40 $19.28 2.
Slide 13: Diversified Customer Base
DIVERSIFIED CUSTOMER BASE Product sold to 16 different EUROPE – 5.2% CHINA SOUTH KOREA – 3.4% customers since 1st shipment > > > 46.9% JAPAN – 20.7% INDIA – 1.7% MIDDLE EAST – 20.7%
Slide 14: Realized Pricing (FQ1/20)
REALIZED PRICING (FQ1/20) *P62: Platts TSI IODEX 62% Fe CFR China; P65: Platts IO Fines 65% Fe CFR China
Slide 15: Operational Results
OPERATIONAL RESULTS > > > > > > >
Slide 16: Financial Results
FINANCIAL RESULTS Generated C$221.9M of operating cash flow in last 12 months Proven ability to produce at total cash cost below C$50/t Strong cash operating margin > > > > Not incombered by stream or royalties CHAMPION IRON 29 Cash Operating Margin per Tonne 160.00 $ Final | Results ($ MILLIONS) Q2
Slide 17: Simplified Corporate Structure, Full Upside to Growth Initiatives
SIMPLIFIED CORPORATE STRUCTURE FULL UPSIDE TO GROWTH INITIATIVES ✓ → → → →
Slide 18: Rapidly Improving Balance Sheet
RAPIDLY IMPROVING BALANCE SHEET
Slide 19: Strong Leverage to Commodity Price
STRONG LEVERAGE TO COMMODITY PRICE > >
Slide 20: Bloom Lake Phase 1 7.4Mtpa
BLOOM LAKE PHASE 1 7.4MTPA > > > > > > Q2 2019 Q3 2019 Q4 2019 Q1 2020 Target
Slide 21: Bloom Lake Phase 2 Robust Economics
BLOOM LAKE PHASE 2 ROBUST ECONOMICS
Slide 22: Bloom Lake Phase 2 Positioning as a Global Leader
BLOOM LAKE PHASE 2 POSITIONING AS A GLOBAL LEADER > >
Slide 23: Bloom Lake Phase 2 Rapid Timeline to Production
BLOOM LAKE PHASE 2 RAPID TIMELINE TO PRODUCTION ✓ ✓ ✓ ✓
Slide 24: Regional Opportunities Phase 3
REGIONAL OPPORTUNITIES PHASE 3 > > >
Slide 25: FY 2019 Health & Safety
FY 2019 HEALTH & SAFETY CHAMPION IRON 29 > No severe lost time injury reported in FY2019 > Continuous improvement on safety since declaring commercial production > Statistics in line or below benchmark for open pit mining as set by ASPM* > Additional measures in place to train new personnel arriving
Slide 26: FY2019 Environmental Focused
FY2019 ENVIRONMENTAL FOCUSED ↓ ↓ ↓
Slide 27: Experienced Management Team
EXPERIENCED MANAGEMENT TEAM > > > > > > > > > > > > > > > > > > >
Slide 28: Track-Record of Success
TRACK-RECORD OF SUCCESS $20 $15 $10 $5 – Sep-04 May-06 Jan-08 Oct-09 Jun-11 > > > > > > > > > > > > > > >
Slide 29: Appendix
Slide 30: Corporate Structure
CORPORATE STRUCTURE CHAMPION IRON 24 Champion Iron Limited 100% 100% Québec Iron Ore (“QIO”) Champion Iron Mines 100% 100% * 8iron-rich projects ina Bloom Lake Mine and 908 km? area near Fermont Infrastructure * Powderhorne Zn-Cu project in Newfoundland 30
Slide 31: Iron Ore Value Chain
IRON ORE VALUE CHAIN SLINTER PELLETS >
Slide 32: Tailings Management
TAILINGS MANAGEMENT > > > > > Centerline/Downstream Upstream
Slide 33: Infrastructure and Logistics
INFRASTRUCTURE AND LOGISTICS > > > > > > > > > > > > > > > > > >
Slide 34: Bloom Lake Updated Recovery Flowsheet
BLOOM LAKE UPDATED RECOVERY FLOWSHEET > > > > >
Slide 35: Updated Feasibility Economics
UPDATED FEASIBILITY ECONOMICS COMBINED PHASE 1 & 2 (JUNE 2019)
Slide 36: Bloom Lake - Reserves & Resources
BLOOM LAKE - RESERVES & RESOURCES
Slide 37: Valuable and Sought-After Product
VALUABLE AND SOUGHT-AFTER PRODUCT > > > > > ✓ ✓ ✓
Slide 38: Bloom Lake Mine Complex
BLOOM LAKE CHAMPION IRON 24 MINE COMPLEX
Slide 39: Phase 1 Plant
PHASE 1 PLANT CHAMPION IRON 24 39
Slide 40: Phase 2 Plant
PHASE 2 PLANT CHAMPION IRON 24 40
Slide 41: Multi-User Port
MULTI-USER PORT CHAMPION IRON 29 41
Slide 42: First Vessel
CHAMPION IRON 24 FIRST VESSEL aa 42
Slide 43: Thank You!
THANK YOU! Contact us for more information. DAVID CATAFORD, MICHAEL MARCOTTE, CEO VP INVESTOR RELATIONS dcataford@championrionmines.com mmarcotte@championironmines.com 1100 René-Lévesque Blvd. West, Suite 610 Montreal QC H3B 4N4 Lx Tel.: +1 514 316 4858 M P Fax.: +1 514 819 8100 CHA | 0 N CHAMPIONIR