• Quarterly production of 3.7M wmt, record sales of 3.9M dmt, revenue of $472M, net income of $65M, EBITDA of $152M
• DRPF project initial commissioning underway, first DR quality iron ore shipment expected by end of H1 2026
• Reduced iron ore concentrate inventories at Bloom Lake by 1.1M wmt to 0.6M wmt

Champion Iron Limited reported its operational and financial results for the third quarter of its 2026 financial year. The company produced 3.7 million wmt of high-grade 66.5% Fe concentrate, compared to 3.6 million wmt in the same period last year. Quarterly sales reached a record 3.9 million dmt, up 18% from the prior-year period. The company's net income was $65 million, representing earnings per share of $0.12, compared to $1.7 million and $0.00 in the same period last year. EBITDA was $152.4 million, up from $88.2 million in the prior-year period. The DRPF project, designed to upgrade half of Bloom Lake's capacity to DR quality pellet feed iron ore, progressed as planned, with mechanical commissioning initiated and initial commercial shipments of DR quality iron anticipated by the end of the first half of the 2026 calendar year. The company also reduced its iron ore concentrate inventories stockpiled at Bloom Lake by 1.1 million wmt to 0.6 million wmt. Additionally, Champion entered into a transaction agreement to acquire Rana Gruber, a leading Norwegian producer of high-grade iron ore.