Champion Iron Ltd. · ASX:CIA
Champion Iron — Investor Presentation (May 2025)
33 slides from Champion Iron's investor presentation, May 2025
Slide 1: A Rare Solution to Decarbonize Steelmaking
INVESTOR PRESENTATION MAY 2025 A RARE SOLUTION TO DECARBONIZE STEELMAKING CHAMPION IRON 24
Slide 2: Disclaimer
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Slide 3: Corporate Overview
CORPORATE OVERVIEW CHAMPION IRON 2s RARE HIGH-PURITY IRON ORE RESOURCES ENABLING GREEN STEELMAKING BA > 9.1% management ownership and 8.4% ownership by the government of Québec? Al > Nameplate capacity of 15M tpa high-purity 66.2% Fe iron ore concentrate _4 > Optimizing operations at Bloom Lake, inc
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 2 THE STEEL INDUSTRY WILL NEED TO ADAPT TO LIMIT EMISSIONS Mining Freight +> Steelmaking increased 1% 2% its share of global Agglomeration 12% emissions in the last 20 Agriculture, forestry and soil management years, now 18% representin
Slide 6: Governments Supporting the Green Steel Transition
GOVERNMENTS SUPPORTING THE GREEN STEEL TRANSITION CHAMPION IRON 2 LOCAL SUPPORT GLOBAL ALIGNMENT TO INCREASE DEMAND FOR GREEN STEEL > High-purity iron ore on the critical > Carbon Border Adjustment Mechanism (CBAM), implemented in Europe in 2023, minerals list identified by the Québec, will impact t
Slide 7: A Proven Solution to Decarbonize Steelmaking
A PROVEN SOLUTION TO DECARBONIZE STEELMAKING CHAMPION IRON 2s TSX: CIA | ASX: CIA | OTCOX: CIAFF METHOD INPUTS PROCESS CHAMPION’S IMPACT \ Bis a BF-BOF Lower grades Sintering imi 66.2%) *Bloom Lake’s iron mal or Blast Furnace | — Fe ore concentrate Basic Oxygen Furnace ee orl CE wo. ~2.2t CO.e/t Iro
Slide 8: DRI Already a Growing Market
CHAMPION IRON 24 DRI ALREADY A GROWING MARKET TSX: CIA | ASX: CIA | OTCOX: CIAFF DRI PRODUCTION INCREASING DESPITE A LACK OF GROWTH IN THE STEEL SECTOR > Supported by several governments, the GLOBAL CRUDE STEEL AND DRI PRODUCTION accelerating industry transition from BF-BOF (M tpa) to DRI-EAF result
Slide 9: Positioned to Service a Growing Industry
CHAMPION IRON 24 POSITIONED TO SERVICE A GROWING INDUSTRY TSX: CIA | ASX: CIA | OTCOX: CIAFF EUROPE, MIDDLE EAST AND NORTH AFRICA CONTINUE TO INVEST IN ADDITIONAL DRI/EAF STEELMAKING CAPACITY > Continued government support across Europe to invest in DRI/EAF capacity, despite recent challenges in the
Slide 10: Additional DRI Growth Expected
ADDITIONAL DRI GROWTH EXPECTED CHAMPION IRON 2s DRI GROWTH IS SET TO CONTINUE WITH SIGNIFICANT NEW DRI PROJECTS UNDERWAY, INCLUDING SEVERAL RECEIVING GOVERNMENT SUPPORT Central/North Europe West/South Europe Germany - Wilhelmshaven (Salzgitter) France - Dunkirk (Liberty Steel / ArcelorMittal) German
Slide 11: Few Producers Capable to Produce High-Grade Iron Ore
FEW PRODUCERS CAPABLE TO PRODUCE HIGH-GRADE IRON ORE CHAMPION IRON 2 MARKET LEADING HIGH-PURITY DR QUALITY PRODUCT IN A GROWING MARKET SUMMARY OF PRODUCING IRON ORE ASSETS QUALITY BY IRON AND GANGUE CONTENTS . . . Primarily Brazil, Canada, © (wy) « Primarily Australia ro) y Ukraine and Russia \ L— |
Slide 12: Contaminants Are a Growing Industry Concern
CONTAMINANTS ARE A GROWING INDUSTRY CONCERN CHAMPION IRON 2 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 BY IRON AND GANGUE CONTENTS! 12% 2015 12
Slide 13: Low Impact Locally & Scaleable Positive Impact Globally
LOW IMPACT LOCALLY & SCALEABLE POSITIVE IMPACT GLOBALLY CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF > Canadian high-purity iron ore is produced with one of the lowest carbon intensities globally > Acomplete transition of Bloom Lake’s 15M tpa nameplate capacity to DRPF quality iron ore could
Slide 14: Recent Results
CHAMPION IRON RECENT RESULTS
Slide 15: Record Results and Solidifying Operations
CHAMPION IRON 24 RECORD RESULTS AND SOLIDIFYING OPERATIONS TSX: CIA | ASX: CIA | OTCOX: CIAFE > FY25 production of 13.8M wmt, a slight decrease of BLOOM LAKE PRODUCTION HISTORY 2.3% year-over-year, representing 92.2% of Bloom (MILLION WMT/YEAR) Lake’s nameplate capacity of 1SMwmt 142 13.8 > FY25 Res
Slide 16: Record Sales and Diversified Customers
RECORD SALES AND DIVERSIFIED CUSTOMERS CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF > > Record annual iron ore concentrate sales of 13.5M dmt in FY25, an increase of 15.9% year-over-year Record quarterly iron ore concentrate sales of 3.5M dmt in Q4/FY25 FY25 iron ore concentrate sales impacte
Slide 17: Optimizing Cost Structure
OPTIMIZING COST STRUCTURE CHAMPION IRON 2s TOTAL CASH COST! (C$/DMT) Phase ll Approx. 40% $120 ramp up reduction > FY25 Results: Total cash cost? of approximately $78/dmt4 > The Company expects its cash cost per tonne to eventually benefit from several factors including: - Completed infrastructure a
Slide 18: Rising Industry Costs Supporting Iron Ore Prices
RISING INDUSTRY COSTS SUPPORTING IRON ORE PRICES CHAMPION IRON 2s IRON ORE PRICES REBOUNDED NEAR COSTS OF THE 95" PERCENTILE OF GLOBAL PRODUCERS HISTORICAL IRON ORE 62% FE PRICE VS > Impacted by weaker steel output in China INDUSTRY ADJUSTED COST CURVE CFR CHINA (US$/T) and seasonally elevated iron
Slide 19: Robust Financial Results and Balance Sheet
ROBUST FINANCIAL RESULTS AND BALANCE SHEET CHAMPION IRON 2s > Robust financial results and liquidity, positioning the Company to diligently evaluate growth opportunities while continuing its capital return strategy 1,5 BALANCE SHEET AS AT DECEMBER 31, 2024 shso ADJUSTED EPS (C$) $93.1M Cash and cash
Slide 20: Multi-Year Investments Self Funded
MULTI-YEAR INVESTMENTS SELF FUNDED CHAMPION IRON 2s SIGNIFICANT INVESTMENTS AT BLOOM LAKE PRIMARILY FUNDED THROUGH CASH FLOWS FROM OPERATIONS > 2017-2018: Investments to optimize Phase |, resulting in higher CASH SOURCES AND USES SINCE FY2017 (C$M)! production volumes and lower costs compared to Blo
Slide 21: Product Development and Growth Initiatives
PRODUCT DEVELOPMENT CHAMPION IRON 23 AND GROWTH INITIATIVES {A | OTCOX
Slide 22: Green Steel Supply Chain Solutions
GREEN STEEL SUPPLY CHAIN SOLUTIONS CHAMPION IRON 2s DE-RISKING A VAST PROJECT PORTFOLIO REQUIRED FOR THE GREEN STEEL SUPPLY CHAIN PRODUCTS OPTIMIZATION | MINING VOLUME INCREASE KAMI PROJECT SM WMT/YEAR Completed pre-feasibility study and a binding agreement outlining a partnership with Nippon and So
Slide 23: DRPF Project Update
DRPF PROJECT UPDATE 66.2% » CHAMPION IRON 24 Fe TSX: CIA | ASX: CIA | OTCOX: CIAFF > Project Economics? Net Present Value (NPV) Internal Rate of Return Pre-tax IRR of 30.1% (IRR) After-tax IRR of 24.0% DRPF project, upgrading half of Bloom Lake’s nameplate capacity from 66.2% Fe up to 69% Fe, advanc
Slide 24: Kami Project Highlights
KAMI PROJECT HIGHLIGHTS CHAMPION IRON 2s KAMI PROJECT > Sizeable high-purity iron resource 23613 Located a few kilometers southeast of Bloom Lake > Potential to access hydroelectric power and utilize the same rail and port as Bloom Lake BLOOM LAKE Mont Wright Mine et) |, PRE-FEASIBLITY STUDY Se HIGH
Slide 25: Kami Agreement With Major Industry Leaders
KAMI AGREEMENT WITH MAJOR INDUSTRY LEADERS CHAMPION IRON 2s PARTNERSHIP WITH NIPPON AND SOJITZ TO EVALUATE THE DEVELOPMENT OF KAMI > Champion entered into a binding agreement on December 18, 2024, with Nippon and Sojitz to form a partnership for the joint ownership and potential development of Kami
Slide 26: About Our Partners
ABOUT OUR PARTNERS CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF ESTABLISHED INDUSTRY LEADERS SHARING OUR VISION TO REDUCE EMISSIONS IN STEELMAKING ja NIPPON STEEL > Nippon is Japan’s largest steelmaker and one of the world’s leading steel manufacturers with an annual crude steel production ca
Slide 27: Kami Partnership Milestones
KAMI PARTNERSHIP MILESTONES CHAMPION IRON 2s SIGNIFICANT INITIAL INVESTMENTS ENABLED BY THE TRANSACTION WITH NIPPON AND SOJITZ . . Interim investment + Closing of Transaction and Production of decision and Transaction — Final Investment st ibuti - m 18t cash contribution ($68.6M) 24 cash contributio
Slide 28: Kami Project
KAMI PROJECT CHAMPION IRON 2 > 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's capital intensity implies a replace
Slide 29: See with Vincent for 5 yr perspective
⎪ ⎪ → → See with Vincent for 5 yr perspective →
Slide 30: Thank You to Our Staff
THANK YOU TO OUR STAFF CHAMPION IRON 2s UPHOLDING VALUES FOR A SUSTAINABLE FUTURE TRANSPARENCY RESPECT INGENUITY PRIDE 30
Slide 31: 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 32: Bloom Lake Opportunities Beyond LOM
APPENDIX: BLOOM LAKE > OPPORTUNITIES BEYOND LOM CHAMPION IRON 2s Released the details of the updated mineral resources and reserves estimates TECHNICAL REPORT HIGHLIGHTS for Bloom Lake on August 22, 2023, including: Average recovered concentrate (M wmt/year) 15.2 Life of mine (years) 18 years > Conf
Slide 33: Notes to the Resources and Reserves
APPENDIX: NOTES TO THE RESOURCES AND RESERVES CHAMPION IRON 2s NOTES ON MINERAL RESOURCES AND MINERAL RESERVES FOR THE BLOOM LAKE MINE Mineral Resources Mineral resources ore not mineral reserves and have not demonstrated economic viebility under the assumptions contained in the 2023 Technical Repor