Champion Iron hit by derailment on the QNSL line

Mr. David Cataford reports CHAMPION IRON PROVIDES AN UPDATE ON A THIRD-PARTY TRAIN DERAILMENT Champion Iron Ltd. is providing an update regarding a third party train derailment on the Quebec North Shore and Labrador Railway (QNSL), which is utilized to transport high-purity iron ore concentrate from the company's Bloom Lake mine to the port of Sept-Iles. The derailment on the railway occurred in the evening of Dec. 28, 2025, Montreal time. According to the railway operator, there were no related injuries and services should resume within seven to 10 days following the derailment. Assuming railway services restart as planned, the disruptions are not expected to result in material impacts on operations at Bloom Lake and sales of high-purity iron ore concentrate. Champion is collaborating with QNSL and local partners to mitigate the impact of the derailment on its operations and sales and expects to provide additional information as the situation evolves. About Champion Iron Ltd. Champion, through its wholly owned subsidiary Quebec Iron Ore Inc., 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. We seek Safe Harbor.