Slide 1: A Rare Solution to Decarbonize Steelmaking
BSTPRESE ‘ATONE MAYe3i = A RARE SOLUTION TO DECARBONIZE STEELMAKING am? IUART. ER AND FU ‘SE Ya312024 (MONTREAL) CHAMPION IRON 24
Slide 2: Disclaimer
DISCLAIMER c on foan IRON 24 Thispresentaton(the “Presentation”/eontainsinfarmation about Champion ronLimitedChampion’or the ‘Company").currentas at the date hereof or as such earlier date as may be specified herein. This Presentationdaes not constitute or farmpartof, andshauidnat beconstruedas,anof
Slide 3: Conference Call Participants
CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF CONFERENCE CALL PARTICIPANTS DAVID CATAFORD MICHAEL O‘KEEFFE ALEXANDRE BELLEAU DONALD TREMBLAY MICHAEL MARCOTTE ce-Pre. , Chief Executive Officer Executive Chairman Chief ‘ating Officer Chief Financial Officer
Slide 4: FY2024 Fourth Quarter Highlights
FY2024 FOURTH QUARTER HIGHLIGHTS CHAMPION IRON 29 TSX: CIA | ASX: CIA | OTCQX: CIAFF bof y =n! m 3,275,400 WMT $332.7M $400.1M CONCENTRATE PRODUCED $76.6/DMT REVENUES CASH & CASH EQUIVALENTS TOTAL CASH COST! 2,968,900 DMT $85.1M $552.2M CONCENTRATE SOLD EBITDA SHORT-TERM AND $88.0/DMT LONG-TERM DEBT
Slide 5: Sustainability Focused
SUSTAINABILITY FOCUSED CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF > No major environmental issues reported since the recommissioning of Bloom Lake in 2018 > Champion’s emergency brigade proactively reacted to a situation outside of our operations, saving two unconscious individuals > Employ
Slide 6: Community, Governance and Sustainability
COMMUNITY, GOVERNANCE AND SUSTAINABILITY CHAMPION IRON 2a > Ratified a new 5-year collective bargaining agreement with Bloom Lake unionized employees, providing long- term stability for the employees, the Company and the community > Proud partner of the 2024 First Nations Expedition, a 3,250 km snow
Slide 7: Enhanced ESG Disclosure
ENHANCED ESG DISCLOSURE CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF > Published the 2023 Sustainability Report, aligned with several Environmental Social and Governance (ESG) disclosure frameworks including GRI, SASB and TCFD? > 2023 results: Successfully met 11 out of the 12 sustainability
Slide 8: Operational & Financial Results
OPERATIONAL & FINANCIAL RESULTS CHAMPION IRON 2x TSX: CIA | ASX: CIA | OTCOX: CIAFF
Slide 9: Industry Overview
INDUSTRY OVERVIEW CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF > The P65 iron ore index decreased by 2.0% from the previous quarter, attributable to factors including a slow economic backdrop in China and unseasonably elevated iron ore exports from Brazil > The average P65 premium over the P6
Slide 10: Unlocking Opportunities for Bloom Lake
UNLOCKING OPPORTUNITIES FOR BLOOM LAKE CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF > Quarterly production of 3.3M wmt, resulting in 14.2M wmt of production for FY2024 (nearly 95% of nameplate capacity) > Following a strategy to push Bloom Lake beyond its nameplate capacity in the previous qu
Slide 11: Operations Overview
OPERATIONS OVERVIEW CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF > Solidifying operations following strategy to identify bottlenecks at Bloom Lake > Second quarterly Fe recovery above 80% since declaring commercial production at the Phase II project, and ongoing work programs to further impro
Slide 12: Financial Highlights
FINANCIAL HIGHLIGHTS CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF > Quarterly revenues of $332.7M, EBITDA? of $85.1M and adjusted EPS? of $0.05 > Annual revenues of $1,524.3M, EBITDA! of $552.5M and adjusted EPS! of $0.46 > Financial results negatively impacted quarter-on-quarter by lower vol
Slide 13: Optimizing Operating Cost Metrics
OPTIMIZING OPERATING COST METRICS CHAMPION IRON 2a > Total cash cost! of $76.6/t, up 4.9% quarter on quarter, negatively impacted by lower shipment levels to amortize certain fixed costs, higher unplanned maintenance and two major planned shutdowns +> The Company expects its cash cost! per tonne to
Slide 14: Provisional Price Adjustment
PROVISIONAL PRICE ADJUSTMENT CHAMPION IRON 2a TSX: CIA | ASX: CIA | OTCQX: CIAFF > Realized an average price of US$136.2/t during the quarter on 1.8M tonnes subject to provisional pricing at the end of Q3/FY24 > 04/FY24 negative provisional pricing adjustment of US$23.9M represents a negative impact
Slide 15: Average Realized Selling Price
AVERAGE REALIZED SELLING PRICE CHAMPION IRON 2a TSX: CIA | ASX: CIA | OTCQX: CIAFF > 04/FY24 average gross realized price? of US$123.4/t, below the P65 index average of US$135.9/t during the period, negatively impacted by factors including: Iron ore sales in transit at the end of the period based on
Slide 16: Cash Change Details
CASH CHANGE DETAILS CHAMPION IRON 2a > Cash! of $400.1M was positively impacted by operating cash flow before working capital of $73.9M and change in working capital of $26.6M, partially offset by CAPEX and non-current advance payments of $87.5M CASH CHANGE FROM DECEMBER 31, 2023 TO MARCH 31, 2024 $
Slide 17: Robust Balance Sheet and Liquidity Position
ROBUST BALANCE SHEET AND LIQUIDITY POSITION CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF BALANCE SHEET Ls $400.1M Cash and cash equivalents i $208.0M Working capital? =a $552.2M Short-term & Long-term debt? LIQUIDITY POSITION Cash net of debt of $55.9M (including working capital) $542.0M Avai
Slide 18: Growth Projects
CHAMPION IRON 2 GROWTH PROJECTS TSK-CA | ASK CIA OTCOK CAF
Slide 19: Green Steel Supply Chain Solutions
GREEN STEEL SUPPLY CHAIN SOLUTIONS CHAMPION IRON 24 TSX: CIA | ASX: CIA | OTCQX: CIAFF DE-RISKING A VAST PROJECT PORTFOLIO REQUIRED FOR THE GREEN STEEL SUPPLY CHAIN PRODUCTS OPTIMIZATION MINING VOLUME INCREASE KAMI STUDY COMPLETED 9 MTPA PROJECT Evaluating strategic partnerships and opportunities to
Slide 20: DRPF Project Update
DRPF PROJECT UPDATE CHAMPION IRON 2a > ODRPF project, upgrading half of Bloom Lake's nameplate capacity from 66.2% Fe up to 69% Fe, continues to advance as planned with approximately 20% of the budgeted project CAPEX spent to date > Project remains on track for commissioning in calendar H2/2025, sub
Slide 21: Positioned to Service an Industry in Transition
POSITIONED TO SERVICE AN INDUSTRY IN TRANSITION CHAMPION IRON 2a CHAMPION’S DR QUALITY PELLET FEED IS STRATEGICALLY POSITIONED TO SERVICE GROWING MARKETS an > > Over 160 Mt of Direct Reduction cis (DR) quality iron ore will be required to supply the announced EUROPE worth SWAB -------- 4 A IDDLE EAS
Slide 22: Thank You to Our Staff
THANK YOU TO OUR STAFF CHAMPION IRON 2a a Y emmy TRANSPARENCY RESPECT INGENUITY PRIDE v 22
Slide 23: Thank You!
THANK YOU! CHAMPION IRON 24 Mee . Tz aE . rates Contact us for more information: -- . _Michael Marcotte, Senior Vice-President - Corporate Development and Capital Markets P info@championiron.com 514-316-4858 = ag ' Fie : nS - a. a