Champion Iron Ltd. · ASX:CIA
Champion Iron — Investor Presentation (May 2024)
29 slides from Champion Iron's investor presentation, May 2024
Slide 1: Investors Presentation May 2024
INVESTORS PRESENTATION MAY 2024 A RARE SOLUTION TO DECARBONIZE STEELMAKING CHAMPION IRON 24
Slide 2: Disclaimer and forward-looking statements
⎪ ⎪ This presentation (the "Presentation") contains information about Champion Iron Limited ("Champion" or the "Company"), current as at the date hereof or as at such earlier date as may be specified herein. This Presentation does not constitute or form part of, and should not be construed as, an of
Slide 3: Corporate Overview
CORPORATE OVERVIEW CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCOX : CIAFF LARGEST PUBLICLY LISTED PURE-PLAY HIGH-GRADE IRON ORE PRODUCER GLOBALLY ? > end largest hub of high-grade exports globally @ 9 inl ai > 9.1% management ownership > Cumulative investments at Bloom Lake >US$4.5B aan © > Committed
Slide 4: A Global Solution for the Transitioning Steel Industry
A GLOBAL SOLUTION FOR THE CHAMPION IRON.Z4 TRANSITIONING STEEL INDUSTRY ———
Slide 5: High Purity Iron Ore: A Solution for Green Steel
HIGH PURITY IRON ORE > A SOLUTION FOR GREEN STEEL CHAMPION IRON 2x THE STEEL INDUSTRY WILL NEED TO ADAPT TO LIMIT EMISSIONS Mining Freight 2% Agglomeration 12% Agriculture, forestry and soil management 18% Waste > The steel industry 7 produces more than 7.2% Chemicals of global CO, emissions* Energy
Slide 6: Steel is Critical to Enable Decarbonization
STEEL IS CRITICAL TO ENABLE DECARBONIZATION CHAMPION IRON 2a > Under the Accelerated Energy Transition (AET) of 1.5°C, over 3.5 billion additional tonnes of steel will be required by 2050, representing over 50% of the total material used across infrastructure and related applications GLOBAL VOLUME O
Slide 7: Governments Supporting the Green Steel Transition
GOVERNMENTS SUPPORTING THE GREEN STEEL TRANSITION CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCOX : CIAFF LOCAL SUPPORT GLOBAL ALIGNMENT TO INCREASE DEMAND FOR GREEN STEEL +> Québec & Labrador and > At COP28, several countries, including Canada, Germany, UK and US, pledged to Newfoundland listed high-p
Slide 8: Champion's Positive Impact
CHAMPION’S POSITIVE IMPACT CHAMPION IRON 2 TSX: CIA | ASX: CIA | OTCOX : CIAFF METHOD INPUTS PROCESS CHAMPION’S IMPACT A\ _ fab AN BF-BOF Lower grades Sintering 66.2%) *Bloom Lake's iron be ——> iluuuud Blast Furnace LX e — Fe ore concentrate Basic Oxygen Furnace Cor%m —_ oo. -2.2t C0,e/t Iron ore co
Slide 9: High Purity Iron is Critical for the Energy Transition
HIGH PURITY IRON IS CRITICAL FOR THE ENERGY TRANSITION CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCOX : CIAFF > To decarbonize the steel industry, a material 1.5°C pathway crude steel production by technology mix transition away from BF-BOF, utilizing coal, to EAF (Million tonnes annually and market s
Slide 10: Demand for DR pellets by 2050
CHAMPION IRON 2 TSX: CIA_| ASX: CIA | OTCOX : CIAFF Cumulative historical Forecast (2023-2050) production! Demand for Direct Reduction (DR) pellets by 2050, required in DRI-EAF steelmaking, is e@ expected to be 6X the cumulative historical production 2,300 Mt The steel industry's transit 20502, equi
Slide 11: 69% Fe DRPF: Prime Product in a Niche Market
69% FE DRPF: PRIME PRODUCT IN A NICHE MARKET CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCOX : CIAFF SUMMARY OF IRON CONTENT AND GANGUE CONTENT . + a Volumes primarily Volumes primarily from Brazil, from Australia Canada, Ukraine and Russia as i 12% e 5 fs 10% e = Project BF QUALITY a o% Co ® ° @ e@ ~
Slide 12: Significant Impact Towards Reducing Emissions
SIGNIFICANT IMPACT TOWARDS REDUCING EMISSIONS CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCOX : CIAFF Lx Champion‘s concentrate reduces emissions in BF/BOF steelmaking Proven ability to produce DR grade pellet feed enables Champion to engage with DRI/EAF steel makers Compared to Low Grade Iron Ore Comp
Slide 13: Project portfolio comparison by port and capacity
Spare Port Project / Renewable Distance to # Capacity Portfolio Energy Port (Km) (Mtpa)6 MetalloInvest 1 (Russia) Rest of 2 Canada4 3 S11D Champion 4 Iron 7 5 Simandou2,5 6 Iron Bridge 7 Central Eyre3 8 Minas Rio 9 Samarco LKAB 10 (Sweden) 11 CSN (Brazil) 12 Sino Iron
Slide 14: Low Impact Locally & Scaleable Positive Impact Globally
LOW IMPACT LOCALLY & SCALEABLE POSITIVE IMPACT GLOBALLY CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCOX : CIAFF > Canadian high-purity iron ore is produced with one of the lowest carbon intensities globally > Acomplete transition of Bloom Lake’s 15 Mtpa nameplate capacity to DRPF quality iron ore could
Slide 15: Recent Results
CHAMPION IRON RECENT RESULTS
Slide 16: Setting New Production Records at Bloom Lake
SETTING NEW PRODUCTION RECORDS AT BLOOM LAKE CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCOX : CIAFF BLOOM LAKE PRODUCTION HISTORY ; ; (MILLION WMT/YEAR) > Record iron ore concentrate production of 14.2M wmt in FY24, representing 95% of Bloom | Lake’s expanded nameplate capacity of 15 Mtpa 100 + + . .
Slide 17: Optimizing Cost Structure
OPTIMIZING COST STRUCTURE CHAMPION IRON 2 TSX: CIA | ASX: CIA | OTCOX : CIAFF TOTAL CASH COST! (C$/DMT) Phase Il $120 ramp up $80 $40 $0 2014 2015 2016 2017 Fylg?—-FY20 FY2l Fye2 FY23 FYe4 Sources: Champion Iron Limited, Statistics Canada Approx. 40% reduction 1 -~-» $75.9 > FY2024 results: Continue
Slide 18: Competitive Cost Structure
COMPETITIVE COST STRUCTURE CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCOX : CIAFF VALUE-IN-USE (VIU) ADJUSTED IRON ORE COST CURVE (CFR, 62% FE FINES EQUIVALENT)! $180 $160 CHAMPION IRON 43 $140 Since 2018, Champion's VIU-adjusted cost position proved to compete with the industry leading iron ore produ
Slide 19: Balance Sheet as at December 31, 2023
⎪ ⎪ → BALANCE SHEET AS AT DECEMBER 31, 2023
Slide 20: Product Development and Growth Initiatives
PRODUCT DEVELOPMENT CHAMPION IRON 23 AND GROWTH INITIATIVES A | OTCOX
Slide 21: Green Steel Supply Chain Solutions
GREEN STEEL SUPPLY CHAIN SOLUTIONS CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCOX : CIAFF > DE-RISKING A VAST PROJECT PORTFOLIO REQUIRED FOR THE GREEN STEEL SUPPLY CHAIN PRODUCTS OPTIMIZATION MINING VOLUME INCREASE UPGRADE BLOOM LAKE Concentrator(s) to Direct Reduction Pellet Feed (DRPF) quality iron
Slide 22: DRPF Project Update
DRPF PROJECT UPDATE CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCOX : CIAFF Project underway to upgrade the Phase Il plant, from 66.2% to 69% Fe, to produce 7.5 Mtpa of DRPF quality iron ore, expected to attract significant additional pricing premium PROJECT MILESTONES > Inconnection with the positive
Slide 23: Kami Project: Access to Infrastructure
KAMI PROJECT > ACCESS TO INFRASTRUCTURE CHAMPION IRON 2 TSX: CIA | ASX: CIA | OTCOX : CIAFF BLOOM LAKE 029812 kilometers # | Mont Wright Mine 023814 MOIRE LAKE 023810 023807 Lh otrercoims Ray ey © coors KAMI PROJECT Sizeable high-purity iron resource, significantly de-risked by the Project's previou
Slide 24: Tailings Management Facility
⎪ ⎪ Tailings Management Facility
Slide 25: Kami Study Highlights: Economic Results
KAMI STUDY HIGHLIGHTS > ECONOMIC RESULTS CHAMPION IRON 2 TSX: CIA | ASX: CIA | OTCOX : CIAFF > Positive findings of the study, resulting in after tax economics of: = Base case NPV of $541M and IRR of 9.8% = 3-year trailing prices NPV of $2,195M and IRR of 14.8% PROJECT ECONOMICS P6S Index price assu
Slide 26: Kami Project capital intensity
KAMI PROJECT CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCOX : CIAFF > Kami Project's expected capital intensity of US$331/wmt of production capacity is competitive with recently completed high-grade concentrate greenfield projects’ capital intensity average of US$328/wmt! > Recently completed project'
Slide 27: Our People Are Our Most Valuable Asset
OUR PEOPLE ARE OUR MOST VALUABLE ASSET CHAMPION IRON 2 TSX: CIA | ASX: CIA | OTCQX : CIAFF CREATING A POSITIVE IMPACT FOR LOCAL COMMUNITIES WITH OUR EXPERTISE, ROBUST CULTURE AND VALUES ® PRIDE ata INGENUITY SY RESPECT =), TRANSPARENCY Ne UPHOLDING OUR VALUES FOR A SUSTAINABLE FUTURE LAN 27
Slide 28: Thank You!
THANK YOU! CHAMPION IRON 24 Contact us for_more information - Michael Marcotte, CFA » -Senior Vice-President - Corporate Development and Capital Markets i oa a —_—" a info@championiron.com : 7 mi 514-316-4858 6
Slide 29: Appendix: Bloom Lake Opportunities Beyond LoM
APPENDIX: BLOOM LAKE > OPPORTUNITIES BEYOND LOM CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCOX : CIAFF Released the details of the updated mineral resources and reserves for Bloom TECHNICAL REPORT HIGHLIGHTS Lake on August 22, 2023, including: Average recovered concentrate (M wmt/year) 15.2 . . oom na