Champion Iron Ltd. · ASX:CIA
Champion Iron — Q1 FY2026 Earnings Presentation
23 slides from Champion Iron's earnings presentation, Jul 30, 2025
Slide 1: ⎪ ⎪
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Slide 2: Disclaimer
CHAMPION IRON 24 DISCLAIMER TSX: CIA | ASX: CIA | OTCQX: CIAFF ‘Tis presentation the Presentation” contsnsinfrmation about hampioniron Lined Champion"or the ‘Company).currentast thedate hereoferasat cuchearlerdateasmay be specified herein This Presetatiandoesrotcansttuteorformartof, ard shuldratbeco
Slide 3: Conference Call Participants
CHAMPION IRON 24 CONFERENCE CALL PARTICIPANTS TSK: CIA | ASX: CIA | OTCOX: CIAFF DAVID CATAFORD ALEXANDRE BELLEAU DONALD TREMBLAY MICHAEL MARCOTTE Chief Executive Officer Chief Operating Officer Chief Financial Officer Senior Vice-President Corporate Development and Capital Markets
Slide 4: FY2026 First Quarter Highlights
FY2026 FIRST QUARTER HIGHLIGHTS CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF Lap, = oe oe =! m 3,520,600 WMT $81.9/DMT SOLD $390.0M $176.1M CONCENTRATE PRODUCED TOTAL CASH COST? REVENUES CASH & CASH EQUIVALENTS 3,831,800 DMT $96.2/DMT SOLD $57.8M $185.3M ; CONCENTRATE SOLD ALL-IN SUSTAINING C
Slide 5: Community, Governance and Sustainability
CHAMPION IRON 24 COMMUNITY, GOVERNANCE AND SUSTAINABILITY TSX: CIA | ASX: CIA | OTCOX: CIAFF > Honoured with the Distinction Award in Human Resources at the Québec Mining Association's 2025 Convention and selected as a finalist for the Environment Award > Participated in Public Safety Week in Fermon
Slide 6: Operational & Financial Results
~~ OPERATIONAL & FINANCIAL RESULTS CHAMPION IRON’ TSX: CIA | ASX: CIA | OTCOX: CIAFF
Slide 7: Operational and Sales Highlights
OPERATIONAL AND SALES HIGHLIGHTS CHAMPION IRON 2a > Quarterly production of 3.5M wmt (3.4M dmt), impacted by increased processed ore hardness, lower head grade, reduced plant availability and scheduled annual power interruption by the service provider > Record quarterly sales of 3.8M dmt, despite sc
Slide 8: Mining Sequence Impact
CHAMPION IRON 24 MINING SEQUENCE IMPACT TSX: CIA | ASX: CIA | OTCQX: CIAFF Bloom Lake mine pits > The Company recently encountered higher ore hardness and lower head grades, partly attributable to an extension of the Pignac pit being mined > Mining of this extension is expected to eventually enable
Slide 9: 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 strategic investments in additional mining equipment, and enhanced utilization and availability of the fleet +> Increased processed ore hardness and lower
Slide 10: Industry Overview
INDUSTRY OVERVIEW CHAMPION IRON 2a > The P65 iron ore index averaged US$108.4 during the period, a decline of 7.3% quarter-over-quarter, reflecting reduced global steel demand, particularly in China > The average quarterly P65 premium over the P62 index remains near recent lows and declined further
Slide 11: Provisional Price Adjustment
PROVISIONAL PRICE ADJUSTMENT CHAMPION IRON 2a > Realized an average price of US$103.6/t during the quarter for the 2.7M tonnes subject to provisional pricing at the end of Q4/FY25 > Q1/FY26 negative provisional pricing adjustment of US$20.1M, representing a negative impact of US$5.2/dmt on the avera
Slide 12: Average Realized Selling Price
AVERAGE REALIZED SELLING PRICE CHAMPION IRON 2a > QI1/FY26 average gross realized price! of US$105.5/t, lower than the P65 index average of US$108.4/t during the period > Average gross realized price negatively impacted by the 2.5 Mt in transit as at June 30, 2025, which were evaluated using an aver
Slide 13: Operating Cost Metrics
OPERATING COST METRICS CHAMPION IRON 2a > Mining and processing costs? of $53.7/dmt produced, an increase of 12% year-over-year, mainly driven by higher stripping activities, lower production of iron ore concentrate and increased maintenance activities, due to premature wear on crushers and grinding
Slide 14: Financial Highlights
FINANCIAL HIGHLIGHTS CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF Quarterly revenues of $390.0M, EBITDA! of $57.8M and EPS of $0.05 Financial results were positively impacted quarter-over-quarter by several factors, including an increase in iron ore sales volumes, but negatively impacted by l
Slide 15: Cash Change Details
CASH CHANGE DETAILS CHAMPION IRON 2a > Cash? of $176.1M, an increase of $58.6M quarter-over-quarter, despite significant ongoing investments to advance the DRPF project, benefiting from destocking of some iron ore inventories and proceeds from the exercise of 15 million warrants by Caisse de Dépot e
Slide 16: Balance Sheet and Liquidity Position
CHAMPION IRON 24 BALANCE SHEET AND LIQUIDITY POSITION AS AT JUNE 30, 2025 TSX: CIA | ASX: CIA | OTCOX: CIAFF BALANCE SHEET LIQUIDITY POSITION al $176.1M Cash and cash equivalents Debt net of cash $392.0M $185.3M Working capital? (including working capital) =a $753.4M Short-term & Long-term debt = $3
Slide 17: Post Quarter End: Successful Senior Notes Offering
POST QUARTER END: SUCCESSFUL SENIOR NOTES OFFERING CHAMPION IRON 2a > On June 25, 2025, Champion announced an offering of US$450M Senior Unsecured Notes due 2032 (the “Notes”) > Due to robust investor demand, Champion upsized the offering to US$500M on June 26, 2025, and confirmed that the Notes wou
Slide 18: ON i ! | OT! = = : (=) i
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Slide 19: DRPF Project Update
CHAMPION IRON 24 DRPF PROJECT UPDATE TSX: CIA | ASX: CIA | OTCOX: CIAFF > DRPF project, upgrading half of Bloom Lake’s nameplate capacity from 66.2% DRPF PROJECT INVESTMENTS COMPARED TO Fe up to 69% Fe, is progressing as scheduled with commissioning planned to THE STUDY TOTAL EXPECTED CAPEX' start i
Slide 20: Kami Milestones
KAMI MILESTONES CHAMPION IRON 2a > On July 21, 2025, Champion announced entering into a definitive framework agreement with Nippon Steel Corporation (“Nippon”) and Sojitz Corporation (“Sojitz”), to implement the previously announced binding agreement in relation to a partnership for the evaluation a
Slide 21: Deteriorating Australian Iron Ore Quality
CHAMPION IRON 24 DETERIORATING AUSTRALIAN IRON ORE QUALITY TSK: CIA | ASX: CIA | OTCOX: CIAFF WHILE THE STEEL INDUSTRY REQUIRES INCREASINGLY HIGHER PURITY IRON ORE TO DECARBONIZE, QUALITY HAS DECLINED FOR AUSTRALIA'S MAJOR IRON ORE PRODUCERS AUSTRALIA'S MAJOR IRON ORE PRODUCERS ASSETS QUALITY 1 > In
Slide 22: Thank You to Our Staff
THANK YOU TO OUR STAFF CHAMPION IRON 2a UPHOLDING VALUES FOR A SUSTAINABLE FUTURE TRANSPARENCY RESPECT INGENUITY 22
Slide 23: 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 infof@championiron.com 514-316-4858 = ag ' Fie : nS - a. a