Mr. David Cataford reports

CHAMPION IRON ANNOUNCES FY2026 ANNUAL GENERAL MEETING VOTING RESULTS

At the annual general meeting of Champion Iron Ltd.'s shareholders, held in person on Wednesday, Aug. 26, 2026, at 5 p.m. Montreal time (Thursday, Aug. 27, 2026, at 7 a.m. Sydney time), all resolutions received the requisite majorities, by a vote by poll as set out in the attached table. The number of votes cast against resolution 1 constitutes a second strike under Australian law. However, resolution 2 (conditional spill resolution) was not carried, as recommended by the board of directors.

Jessica McDonald did not stand for re-election at the meeting.

At the meeting, the total number of ordinary shares of the company represented in person or by proxy was 434,976,279, representing approximately 77.67 per cent of the issued and outstanding ordinary shares of the company.

For further details, visit the company's filings on SEDAR+.

About Champion Iron Ltd.

Champion is a high-purity iron ore producer with operations in Canada and Norway. Through Quebec Iron Ore Inc., Champion owns and operates the Bloom Lake mining complex, located on the south end of the Labrador Trough, approximately 13 kilometres north of Fermont, Que. Bloom Lake is an open-pit operation with two concentration plants that primarily source energy from renewable hydroelectric power, having a combined nameplate capacity of 15 million wet metric tonnes per year that produce low-contaminant high-purity iron ore concentrates with a proven ability to produce direct reduction grade quality iron ore concentrate. The iron ore concentrate from Bloom Lake is transported by rail to a ship loading port in Sept-Iles, Que. Benefiting from one of the highest-purity resources globally, Champion is implementing a work program to be able to upgrade up to half of the Bloom Lake's mine capacity to a direct reduction quality pellet feed iron ore with up to 69 per cent iron (Fe). Bloom Lake's high-purity and lower contaminant iron ore products have attracted a premium to the P61 index (formerly, the P62 index). Champion also owns and operates Rana Gruber AS, a Norwegian iron ore producer based in Mo i Rana, Nordland. With continuous production dating back to the 1960s, Rana Gruber produces approximately 1.8 million dry metric tonnes per year of hematite and magnetite iron ore concentrates. Champion has delivered iron ore concentrates to global markets, including China, Japan, the Middle East, Europe, South Korea, India, Southeast Asia, North Africa and Canada. In addition to its producing mines, Champion holds a 51-per-cent interest in Kami Iron Mine Partnership, which is jointly owned with Nippon Steel Corp. and Sojitz Corp., and through which the Kami project is held. Located approximately 21 kilometres southeast of Bloom Lake, the Kami project benefits from access to existing infrastructure. Champion also holds a portfolio of exploration and development projects in the Labrador Trough, including the Cluster II properties, which are situated within 60 kilometres south of Bloom Lake.

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