Ore Delivery System Update

IOC integrated mine to port production system 4222 • . Expandable high quality resource base with significant exploration potential 3 operating pits and potential to develop additional pits Ore upgraded often in excess of 65% Fe concentrate Approximately 55-60% of concentrate production is converted to pellets Product transported to port via ~400 km wholly owned QNS&L railway, federally regulated The only single operator train system in North America (since 1997) Year round, expandable deep water port Port capable of handling Lakers / Panamax & Cape Size Vessels (225 kt) Up to 7200t/hr loading rates 7

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