Slide 1: Investor Presentation February 2022
INVESTOR PRESENTATION FEBRUARY 2022 PREMIUM PRODUCT, TIER 1 JURISDICTION, HIGH QUALITY INFRASTRUCTURE CHAMPION IRON AX
Slide 2: Disclaimer
CHAMPION IRON 2 D I ) Cc LAI I IE R 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 specifiedherein. This Present
Slide 3: For personal use only
For personal use only → → → → → → → → → → → → → → ⎪ ⎪
Slide 4: For personal use only
→ For personal use only → → → → PCR ⎪ 3H ⎪ &
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 @ < (©) 1%) = @) (or S&S (© LL,
Slide 6: Steel Is Critical for an Energy Transition
STEEL IS CRITICAL FOR AN ENERGY TRANSITION CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF IRON ORE, USED IN STEELMAKING, IS ESSENTIAL FOR LOW CARBON TECHNOLOGIES >» Arecent study published by McKinsey & Company detailed the importance of raw materials as the global economy transitions from foss
Slide 7: For personal use only
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Slide 8: Major Steel Producers Decarbonization Targets
⎪ ⎪ For personal use only → → → → MAJOR STEEL PRODUCERS DECARBONIZATION TARGETS 30% Net-Zero 30% Net-Zero 20% Net-Zero 30-40% Net-Zero 35% Working Towards Net-Zero 30% Net-Zero 20% 50% Net-Zero 30% 35% Net-Zero 30-40% Net-Zero 30% Net-Zero
Slide 9: For personal use only
→ → → For personal use only < ~5 ≥ → ⎪ ⎪
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→ → For personal use only > > > ⎪ ⎪
Slide 11: DRI Under AET 2.0C Scenario
⎪ ⎪ For personal use only → → → → DRI UNDER AET 2.0C SCENARIO**
Slide 12: For personal use only
→ For personal use only INC. TESLA, → > ⎪ ⎪
Slide 13: For personal use only
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Slide 14: For personal use only
⎪ ⎪ For personal use only 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
Slide 15: For personal use only
For personal use only → → → > > ⎪ ⎪
Slide 16: Recent Results
ilps Oe TRO CHAMPION IRON 2 RECENT RESULTS TSX: CIA | ASX: CIA | OTCQX : CIAFF
Slide 17: Bloom Lake Today
BLOOM LAKE TODAY CHAMPION IRON 2s CHAMPION PURCHASED THE BLOOM LAKE MINE IN 2016, AND COMPLETED SIGNIFICANT INVESTMENTS YIELDING STABLE OPERATIONAL RESULTS SINCE ITS RESTART IN 2018 BLOOM LAKE PRODUCTION HISTORY (MILLION WMT/YEAR) STABLE OPERATING RESULTS > Stable operating results since recommissio
Slide 18: For personal use only
For personal use only → → → → → ◼ ◼ ◼ ◼ ⎪ ⎪
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For personal use only → → → → → ⎪ ⎪
Slide 20: Strong Financial Position
STRONG FINANCIAL POSITION CHAMPION IRON 2a TSX: CIA | ASX: CIA | OTCQX: CIAFF Lig y Summa Strong Financial Partners re" AS AT DECEMBER 31, 2021 @ CDPQ © FHA ses08 Cash & S-T Investments $499.0M RBC . ' FONDS FTO Restricted cash* $44.4M ' SOCIETE ' Investissement GENERALE Working capital -$111.2M 2 Q
Slide 21: For personal use only
For personal use only ✓ ✓ ✓ ✓ ✓ → → → ⎪ ⎪
Slide 22: Product Development and Growth Initiatives
PRODUCT DEVELOPMENT CHAMPION IRON 24 AND GROWTH INITIATIVES TSX: CIA | ASX; CIA | OTCQX : CIAFF
Slide 23: Growth Opportunities
GROWTH OPPORTUNITIES CHAMPION IRON 2a PROJECT PIPELINE cE fg oi OPERATING UNDER CONSTRUCTION STUDY STAGE DEVELOPMENT CONSOLIDATED FIRE LAKE NORTH MOIRE LAKE BLOOM LAKE BLOOM LAKE pose USE PHASE | PHASE II Tes) COUPES Quine 7.4 MTPA 15 MTPA* LAC LAMELEE ; FIRE LAKE NORTH HARVEY TUTTLE 9.3 MTPA* O'KEE
Slide 24: Phase II - Advanced Project
PHASE II - ADVANCED PROJECT CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF FULLY FINANCED PROJECT EXPECTED TO DOUBLE BLOOM LAKE NAMEPLATE CAPACITY* > Phase Il expansion is successfully advancing towards completion with cumulative investments of $484.3M as of December 31, 2021* > Critical constr
Slide 25: Products to Support Green Steel
⎪ ⎪ For personal use only 66.2% >69% PRODUCTS TO SUPPORT GREEN STEEL Fe Fe → > > → Regrinding Rougher Flotation → Scavenger Flotation
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Slide 27: Growing Industry Lack of Investments
GROWING INDUSTRY LACK OF INVESTMENTS CHAMPION IRON 2a STEEL OUTPUT IS RISING FASTER THAN IRON ORE SUPPLY IN MAJOR HUBS >" Lack of development capital over the last 5-years, resulting in limited iron ore export growth from major hubs GLOBAL IRON ORE INDUSTRY AUSTRALIA + BRAZIL DEVELOPMENT CAPITAL (US
Slide 28: Additional Material
ADDITIONAL MATERIAL CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX : CIAFF
Slide 29: Mineral Resources & Reserves
CHAMPION IRON 2 TSX: CIA | ASX: CIA | OTCQX: CIAFF COMPANY PROJECTS MINERAL RESOURCES & RESERVES MPION IRON LIMITED - MINERAL RESOURCES (MILLION DRY METRIC MEASURED INUICAIED MEAS + IND INFERRED PROPERTY GROUP SOURCE Mt F2% Mt Fe% Mt Fe% Mt Fe% Bloom Lake Phase ll proven and probable reserves are ba
Slide 30: Appendix: Notes on Historical Estimates
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
Slide 31: Thank You
THANK YOU! Sea Senior Vice- pets nt orate Development and Capital Markets mmarcotte{achampioniro 514-3e4@58