Champion Iron Investor Presentation — January 2022

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PREMIUM PRODUCT, TIER 1 JURISDICTION,

HIGH QUALITY INFRASTRUCTURE

THIRD QUARTER OF THE 2022 FISCAL YEAR

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January 27, 2022This presentation (the "Presentation") contains information about Champion Iron Limited ("Champion Iron Limited" orthe"Company"), current asatthedate hereof orasatsuch earlier date asmay bespecified herein .This Presentation does notconstitute orform part of,andshould notbeconstrued as,anoffer tosellorissue or

thesolicitation ofanoffer tobuyoracquire securities ofChampion Iron Limited oranyofitssubsidiaries oraffiliates oranyother person inanyjurisdiction oraninducement toenter into investment activity, does notconstitute marketing material inconnection with anysuch securities andthere isnocurrent offering orsoliciting

forthesale ofsecurities inanyjurisdiction .

This Presentation andtheinformation contained herein isforinformation purposes only, andmay notbereproduced ordistributed toothers, atanytime, inwhole orinpart, foranypurpose, andmay notbeused foranyother purpose, without theprior written consent ofChampion Iron Limited, andallrecipients agree that they will

usethis Presentation solely forinformation purposes .Acceptance ofthis Presentation byanyperson constitutes anagreement tobebound bytheterms ofthis disclaimer .

Inmaking anyfuture investment decision, youmust rely onyour own examination ofChampion Iron Limited, including themerits andrisks involved .This Presentation should notbeconstrued asfinancial, legal, tax,accounting, investment orother advice orarecommendation with respect toanypotential future investment .Youshould

consult your own advisors asneeded tomake afuture investment decision anddetermine whether itislegally permitted tomake afuture investment under applicable legal investment, securities orsimilar laws orregulations .