Champion Iron Ltd. · ASX:CIA
Champion Iron — Non-Deal Roadshow (April 2022)
27 slides from Champion Iron's roadshow presentation, April 2022
Slide 1: Renmark Financial Virtual Non-Deal Roadshow April 2022
RENMARK FINANCIAL VIRTUAL NON-DEAL ROADSHOW / APRIL 2022 PREMIUM PRODUCT, TIER 1 JURISDICTION, HIGH QUALITY INFRASTRUCTURE C HAM Pl 0 N IR O N LAX
Slide 2: Disclaimer
DISCLAIMER CHAMPION IRON 2 TSX: CIA | ASX: CIA | OTCQX: CIAFF This presentation the “Presentation*) contains information about Champion iron Limited ("Champion Iron Limited” or the “Company"), current as at the date hereof or as at such earlier date as may be specified herein. This Presentation does
Slide 3: Corporate Overview
CORPORATE OVERVIEW EHAMPION IRON 2a LARGEST PUBLICLY LISTED PURE-PLAY HIGH-GRADE IRON ORE,PRODUCER GLOBALLY > end largest hub of high-grade exports globally > Access to infrastructure, including renewable hydroelectric power 0.4% management ownership* ain ° 8 —E~ > Over US$4 Billion invested at Bloo
Slide 4: Focus on Sustainability
FOCUS ON SUSTAINABILITY CHAMPION IRON 2 TSX: CIA | ASX: CIA | OTCQX: CIAFF Implemented Strict COVID-19 Measures Ongoing Improvement of Health and Safety Practices and Monitoring Measures QIO + CONTRACTORS (FISCAL PERIODS) Note: * Fiscal 2022 Year-to-Date consists of 9 operating months from April 1,
Slide 5: A Global Solution for the Transitioning Steel Industry
A GLOBAL SOLUTION FOR THE CHAMPION IRON 24 TRANSITIONING STEEL INDUSTRY TSX: CIA | ASX: CIA | OTCOX : CIAFF
Slide 6: Steel Is Critical for an Energy Transition
CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF STEEL IS CRITICAL FOR AN ENERGY TRANSITION IRON ORE, USED IN STEELMAKING, IS ESSENTIAL FOR LOW CARBON TECHNOLOGIES Raw Materials Critical for the Transition to a Low-carbon Economy ro %S s *, tL % & ZL © % 2g %& % oO %, s %, z 2 % & Q % |e e\e| ele
Slide 7: Iron Ore Represents Roughly 94% of the Volume of Metals Mined Globally
CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF IRON ORE REPRESENTS ROUGHLY 94% OF THE VOLUME OF METALS MINED GLOBALLY Less than 30% of the total iron ore produced annually grades above 65% Fe and only approximately 5% qualifies as Direct Reduction (DR) IRON ORE INDUSTRY (3B TONNES) -5% OF IRON
Slide 8: Bloom Lake's Market Leading Products
BLOOM LAKE’S MARKET LEADING PRODUCTS CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF SINTER FEED SINTER FEED AVERAGE FE % AVERAGE GANGUE % 63.9% 62.9% 1% i; 61.9% 1998 2010 2019 1998 2010 2019 mSilica = Alumina Summary of Iron Content and Gangue Content 4% 2% Gangue Content (Silica + Alumina 56%
Slide 9: Common Path to Decarbonization
CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF COMMON PATH TO DECARBONIZATION MANY STEEL PRODUCERS ALREADY SET TARGETS TO REDUCE EMISSIONS > To limit a global average temperature increase to 1.5°C , steel CO2 emissions need to fall by more than 90% by 2050* 2050 a HULMUINH BF/BOF Direct Reduced
Slide 10: Positive Views for DR Iron Ore Demand
POSITIVE VIEWS FOR DR IRON ORE DEMAND CHAMPION IRON 2a AN EXPECTED TRANSITION FOR THE STEEL INDUSTRY WILL INCREASE DEMAND FOR DRI Metal Demand Growth by 2050 Expected by a Global Energy Transition (AET 2.0c Scenario)* Copper | 7% Aluminum ] 9% Molybdenum | 11% Lead [ff 1s% > BRI competes compares Ne
Slide 11: Significant Impact Towards Reducing Emissions
CHAMPION IRON 2 TSX: CIA | ASX: CIA | OTCQX: CIAFF SIGNIFICANT IMPACT TOWARDS REDUCING EMISSIONS Lx Champion’s concentrate reduces emissions in the BF/BOF steel making Proven ability to produce DR grade pellet feed enables Champion to engage with DRI/EAF steel makers Compared to Low Grade Iron Ore C
Slide 12: Embedded Value of High-Purity Iron Ore
CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF EMBEDED VALUE OF HIGH-PURITY IRON ORE : BF/BOF Process DRI/EAF Process 1.9Mtonnes —— US$170Min 9.7Mtonnes —— US$880M in CO2 eq/year* ~~ value/year C02 eq/year* ~~ value/year EU EMISSION TRADING SYSTEM FORWARD CURVE (EUR/MT C02) € 120 8 a + Carbon e
Slide 13: Producing with a Low Emission Footprint
PRODUCING WITH A LOW EMISSION FOOTPRINT CHAMPION IRON 29 TSX: CIA | ASX: CIA | OTCQX: CIAFF AN 150 4 = 140 4 i Canadian Iron Ore Production is Advantaged by S130 ' Significant hydropower generation capacity 5 4 i : : - , ‘a > High-grade / processing ore deposits largely producing at 65%+ Fe § 120 |
Slide 14: Active Project Pipeline
⎪ ⎪ Active Project Pipeline Project Both Active/ 10 Pipeline 1 2 4 5 Est. Marketable Reserves (Bn MT) 3 Spare Port Project / Renewable Distance to # Capacity Portfolio Energy Port (Km) (Mtpa)6 NA1 1 MetalloInvest Est. Reserves 1 (Russia) 800+ + Resources Rest of Scale (Bn MT) 2 Canada4 429 3 S11D 97
Slide 15: Recent Results
aig OIRO. CHAMPION IRON 2 RECENT RESULTS TSX: CIA | ASX: CIA | OTCQX : CIAFF
Slide 16: Premium Industry Position
PREMIUM INDUSTRY POSITION CHAMPION IRON 2a TSX: CIA | ASX: CIA | OTCQX: CIAFF Positioned for Profitability $100 TOTAL CASH COST BLOOM LAKE PRODUCTION HISTORY sa0 (C$/0MT) (MILLION WMT/YEAR) vg 80 $58.6 8.0 $60 ———_. 6.0 $40 = 4.0 © $20 < o 8 $0 CDS 2 SS SP DP SP? BP SS Pr PD SP STS KS SS SF SPELT OE
Slide 17: Strong Financial Position
STRONG FINANCIAL POSITION CHAMPION IRON 2 TSX: CIA | ASX: CIA | OTCQX: CIAFF Liquidity Summary (C$) As at december 31, 2021 Working capital -$111.2M Short & Long-Term Debt* $321.5M =I Cash & S-T Investments $499.0M al Restricted cash* $44.4M Available & undrawn loans* $425.7M Net cash* positive of $
Slide 18: Product Development and Growth Initiatives
PRODUCT DEVELOPMENT CHAMPION IRON 24 AND GROWTH INITIATIVES TSX: CIA | ASX; CIA | OTCQX : CIAFF
Slide 19: Phase II - Advanced Project
PHASE II - ADVANCED PROJECT CHAMPION IRON 2s SELF FUNDED PROJECT WITH DEBT AND CASH FLOWS FROM OPERATIONS* PHASE Il - CAPEX (C$M) > >US$1.6B* project initiated in 2011 by Bloom Lake's previous owner DEPLOYED BY > Commissioning of the project expected CHAMPION TO in April 2022, with commercial produc
Slide 20: Labrador Trough - A World-Class Opportunity
LABRADOR TROUGH - A WORLD-CLASS OPPORTUNITY CHAMPION IRON 29 TSX: CIA | ASX: CIA | OTCQX: CIAFF O-Keefe-Purdy Large Portfolio With Access to Infrastructure Penguin.Lake Black Den \Hobdad > 2.8 BT of historical Measured and Indicated resources and 5.5 BT of historical inferred resources within 60km o
Slide 21: Growth Opportunities
GROWTH OPPORTUNITIES CHAMPION IRON 2a PROJECT PIPELINE Za rF EG wm OPERATING UNDER STUDY DEVELOPMENT CONSTRUCTION CONSOLIDATED FIRE LAKE NORTH BLOOM LAKE BLOOM LAKE KAMI PROJECT MOIRE LAKE PHASE | PHASE II 7.8 MTPA* QUINTO 7.4MTPA 15 MTPA* LAC LAMELEE SOUTH FIRE LAKE NORTH HARVEY TUTTLE 9.3 MTPA* O'
Slide 22: Rising Demand and Limited Supply
CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF RISING DEMAND AND LIMITED SUPPLY Limited industry investments Robust iron ore prices & premiums GLOBAL IRON ORE INDUSTRY P62 & P65 PREMIUM - 10 YEARS (US$/T) DEVELOPMENT CAPITAL (US$™) $40,000 $200 27.3B/YEAR $20,000 e Be 5% $100 "7 5- SEAR AVERAGE
Slide 23: Our People Are Our Most Valuable Asset
OUR PEOPLE ARE OUR MOST VALUABLE ASSET CHAMPION IRON 2a CREATING A POSITIVE IMPACT FOR LOCAL COMMUNITIES WITH OUR EXPERTISE, ROBUST CULTURE AND VALUES PRIDE INGENUITY RESPECT TRANSPARENCY UPHOLDING OUR VALUES , oe, FOR A SUSTAINABLE FUTURE y a 23
Slide 24: Thank You!
THANK YOU! Sea Senior Vice- President: Poeste Development and Capital Markets mmarcotte(@championiron. com head tuatl inal il 514-32624858
Slide 25: Additional Material
ADDITIONAL MATERIAL CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX : CIAFF
Slide 26: Company Projects Mineral Resources & Reserves
CHAMPION IRON 2 TSX: CIA | ASX: CIA | OTCQX: CIAFF COMPANY PROJECTS MINERAL RESOURCES & RESERVES CHAMPION IRON LIMITED - MINERAL RESOURCES (MILLION DRY METRIC TONNES) PROPERTY MEASURED INDICATED MEAS + IND INFERRED SOURCE Mt Fe% Mt Fe% Mt Fe% Mt Fe% Bloom Lake Phase Il proven and probable reserves a
Slide 27: Appendix: Notes on Historical Estimates Used in the Presentation
APPENDIX eeniibed N IRON 2s NOTES ON HISTORICAL ESTIMATES USED IN THE PRESENTATION 1. The historical Kami Project resource estimates are based on the National Instrument 43-101 technical report entitled "Feasibility Study of the Rose Deposit and Resource Estimate for the Mills Lake Deposit of the Ka