Champion Iron (CIA) AGM 2025 summary

Opening remarks and agenda

• Meeting held on August 27, 2025 (Montréal) and August 28, 2025 (Sydney), with quorum confirmed and board, management, and Ernst & Young auditors present.

• Voting on all resolutions was conducted by ballot, with Computershare as scrutineers.

• Agenda included formal business, Q&A, a corporate overview, and a focus on decarbonizing steelmaking.

• Formal business included receiving financial and audit reports, adopting the remuneration report, and electing eight directors.

Financial performance review

• FY2025 revenues reached $1,606.6M, EBITDA was $471.3M, and net income totaled $142.0M.

• Produced 13.8M wmt concentrate and sold 13.5M dmt, with a total cash cost of $78.3/dmt and all-in sustaining cost of $94.9/dmt.

• Maintained over $700M in available liquidity, with $117.5M in cash and $488.4M in available loans as of March 31, 2025.

• Q1/FY26 saw revenues of $390.0M, EBITDA of $57.8M, and EPS of $0.05.

• Continued payment of two semiannual dividends of $0.10 per share.

Board and executive committee updates

• Eight directors stood for reelection and were elected under separate resolutions, including Michael O'Keeffe and David Cataford.

• Directors recommended voting in favor of all director appointments.