• Quarterly production of 3.9M wmt, sales of 3.3M dmt, revenues of $357M and EBITDA of $33M
• Initial production of DR quality iron ore from the DRPF project with initial shipment expected in Q2 FY27
• Completion of the acquisition of Rana Gruber, a high-purity iron ore producer in Norway

Champion Iron Limited reported its financial and operational results for the first quarter of fiscal year 2027, ended June 30, 2026. The company achieved quarterly production of 3.9 million wet metric tons (wmt) of high-purity iron ore concentrates, a 12% increase over the same prior-year period. Sales totaled 3.3 million dry metric tons (dmt) of high-purity iron ore concentrates, a 13% decrease from the same period last year. Revenues were $356.9 million, a decrease of $33.2 million from the same period last year. The company reported an EBITDA of $32.8 million, down from $114.3 million in the previous quarter and $57.8 million in the same prior-year period. The company successfully produced the first DR quality iron ore from the DRPF project, with an inaugural commercial shipment expected in the third calendar quarter of 2026. The acquisition of Rana Gruber was completed on April 10, 2026.