CHAMPION IRON REPORTS ITS FY2026 FOURTH QUARTER RESULTS

Quarterly production of 3.4M wmt, sales of 3.5M dmt, revenues of $415M and EBITDA of $114M 1 DRPF project commissioning advancing as planned, with initial production tests successfully completed in March 2026 and production of commercially saleable product expected by the end of calendar Q2 2026 The previously announced acquisition of Rana Gruber, a proven high-purity iron ore producer in Norway, closed in April 2026 Announced the framework for future shareholder returns MONTRÉAL , May 27, 2026 /CNW/ - SYDNEY, May 28, 2026 - Champion Iron Limited (ASX: CIA) (TSX: CIA ) (OTCQX: CIAFF ) ("Champion" or the "Company") reports operational and financial results for its financial fourth quarter ended March 31, 2026. Champion's CEO, Mr. David Cataford, said, "This year marks the tenth anniversary of Champion's acquisition of Bloom Lake mine in April 2016, a defining milestone that laid the foundation for our long-term vision. Supported by an engaged workforce, the successful execution of multiple growth projects, and the recent acquisition of Rana Gruber, Champion continues to distinguish itself with customers worldwide as a leading supplier of high-purity iron ore. Beyond our operational achievements, we are proud to create lasting value for all stakeholders through strong partnerships with governments, local communities and First Nations. Although we are near the completion of a multi-year growth capital investment cycle at Bloom Lake, our focus is to protect our financial liquidities in response to the volatile macroeconomic environment and rising fuel and freight prices. Looking forward, our revised dividend policy will align our shareholder returns with our Company's financial capacity." Conference Call Details Champion will host a conference call and webcast on May 28, 2026, at 9:00 AM (Montréal time) / 11:00 PM (Sydney time) to discuss the results of the fourth quarter