Champion Iron Limited (CIA:CA) M&A Call Transcript

Champion Iron Limited ( CIA:CA ) M&A Call December 22, 2025 9:30 AM EST Company Participants Michael Marcotte - Senior Vice President of Corporate Development & Capital Markets David Cataford - CEO & Non-Independent Director Gunnar Moe - Chief Executive Officer Conference Call Participants Julio Mondragon Craig Hutchison - TD Cowen, Research Division Fedor Shabalin - B. Riley Securities, Inc., Research Division Brian MacArthur - Raymond James Ltd., Research Division Presentation Operator Good morning, ladies and gentlemen, and welcome to the Champion Iron to launch cash tender offer to acquire Rana Gruber. [Operator Instructions] Also note that this call is being recorded on Monday, December 22, 2025. I would now like to turn the conference over to Michael Marcotte. Please go ahead, sir. Michael Marcotte Senior Vice President of Corporate Development & Capital Markets Thank you, operator, and thank you, everyone, for joining us on this call, somewhat last minute here for the holidays. I'm very excited to talk to you about this opportunity. Before we get going, I'd like to highlight that we'll be using a presentation, which is available on our website at championiron.com. We're also going to be making forward-looking statements throughout this call. You can read more about our forward-looking statements, risks and assumptions on the disclaimer page of this presentation and in our MD&A. Joining me here on the call today includes many of our executives, including David Cataford, our CEO; Alexandre Belleau, our COO; and also Gunnar Moe, the CEO of Rana Gruber. Before we turn it to David for the formal portion of the presentation, I'll turn it to David, and then Gunnar to do introductory remarks for the transaction. David? David Cataford CEO & Non-Independent Director Thank you very much, Michael. Thanks, everyone, for being on the call today. I think a very positive announcement today. Our team is very excited about the

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