Teck 2024 Strategy Day

Photo to be replaced
STRATEGY
DAY
November 5, 2024
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
Both these slides and the accompanying oral presentation contain certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to as forward-looking statements). These statements relate to future events or our
future performance. All statements other than statements of historical fact are forward-looking statements. The use of any of the words “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “should”, “believe” and similar expressions are
intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These statements speak only as
of the date of this presentation.
These forward-looking statements include, but are not limited to, statements concerning: our strategy and priorities; all guidance included in this presentation, including production guidance, net cash unit cost guidance and capital expenditure guidance; statements relating to market
expectations, including expectations relating to the supply and demand of the markets for our products; all statements and expectations regarding the ramp up of QB, including optimization and debottlenecking targets; all expectations regarding mine life extensions for HVC, Antamina
and Red Dog; all expectations relating to our projects and mine extensions and the development thereof, including expectations related to benefits and payback periods, the submission and receipt of regulatory approvals, timing for completion of prefeasibility, feasibility studies and
sanctioning, costs and timing related to construction and commissioning and expectations relating to production levels, capital and operating costs, mine life, strip ratios, C1 cash costs and further expansions; all expectations regarding future production, including that we are on track
to become a Top 10 global copper producer; all statements relating to illustrative EBITDA or operating cash flow; expected benefits of innovation at HVC and other operations; our sustainability strategy; our short-term and long-term sustainability goals, including, but not limited to, our
carbon intensity, emissions reduction and biodiversity goals, and our expectations as to how and when we will meet those goals; statements regarding Teck’s capital allocation framework and the expected use of proceeds from the sale of our steelmaking coal business, including
statements regarding potential returns to shareholders, potential cash flows and allocation of funds; and all other statements that are not historic facts.
Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this presentation. Such statements are based on a number of assumptions that may prove to be incorrect, including, but not
limited to, assumptions regarding: general business and economic conditions; commodity and power prices; the supply and demand for, and the level and volatility of prices of, copper, zinc and our other metals and minerals as well as inputs required for our operations; the timing of
receipt of permits and other regulatory and governmental approvals for our development projects and operations, including mine extensions; our costs of production, and our production and productivity levels, as well as those of our competitors; availability of water and power
resources for our projects and operations; credit market conditions and conditions in financial markets generally; our ability to procure equipment and operating supplies and services in sufficient quantities on a timely basis; the availability of qualified employees and contractors for
our operations and our projects and our ability to attract and retain such employees; the satisfactory negotiation of collective agreements with unionized employees; the impact of changes in Canadian-U.S. dollar exchange rates, Canadian dollar-Chilean Peso exchange rates and other
foreign exchange rates on our costs and results; the accuracy of our mineral reserve and resource estimates (including with respect to size, grade and recoverability) and the geological, operational and price assumptions on which these are based; tax benefits and tax rates; our ongoing
relations with our employees and with our business and joint venture partners; assumptions concerning: the development, performance and effectiveness of technology needed to achieve our sustainability goals and priorities; the availability of clean energy sources and zero-
emissions alternatives for transportation on reasonable terms; our ability to implement new source control or mine design strategies on commercially reasonable terms without impacting production objectives; our ability to successfully implement our technology and innovation
strategy; costs of closure; environmental compliance costs generally; the impact of climate change and climate change initiatives on markets and operations; and the impact of geopolitical events on mining operations and global markets. Statements concerning future production
costs or volumes are based on numerous assumptions of management regarding operating matters and on assumptions that demand for products develops as anticipated; that customers and other counterparties perform their contractual obligations; that operating and capital plans
will not be disrupted by issues such as mechanical failure, unavailability of parts and supplies, labour disturbances, interruption in transportation or utilities, or adverse weather conditions; and that there are no material unanticipated variations in the cost of energy or supplies.
Inherent in forward-looking statements are risks and uncertainties beyond our ability to predict or control, including, without limitation: risks that are generally encountered in the permitting and development of mineral properties such as unusual or unexpected geological formations;
associated with unanticipated metallurgical difficulties; relating to delays associated with permit appeals or other regulatory processes, ground control problems, adverse weather conditions or process upsets and equipment malfunctions; risks associated with any damage to our
reputation; risks associated with volatility in financial and commodities markets and global uncertainty; risks associated with labour disturbances and availability of skilled labour; risks associated with fluctuations in the market prices of our principal commodities or of our principal
inputs; associated with changes to the tax and royalty regimes in which we operate; risks posed by fluctuations in exchange rates and interest rates, as well as general economic conditions and inflation; risks associated with climate change, environmental compliance, changes in
environmental legislation and regulation, and changes to our reclamation obligations; risks created through competition for mining properties; risks associated with lack of access to capital or to markets; risks associated with mineral reserve and resource estimates; risks associated
with changes to our credit ratings; risks associated with our material financing arrangements and our covenants thereunder; risks associated with procurement of goods and services for our business, projects and operations; risks associated with non-performance by contractual
counterparties; risks associated with potential disputes with partners and co-owners; risks associated with operations in foreign countries; risks associated with information technology; risks associated with tax reassessments and legal proceedings; and other risk factors detailed in
our Annual Information Form. Declaration and payment of dividends and capital allocation are the discretion of the Board, and our dividend policy and capital allocation framework will be reviewed regularly and may change. Dividends and share repurchases can be impacted by share
price volatility, negative changes to commodity prices, availability of funds to purchase shares, alternative uses for funds and compliance with regulatory requirements. Certain of our operations and projects are operated through joint arrangements where we may not have control over
all decisions, which may cause outcomes to differ from current expectations.
Teck cautions that the foregoing list of important factors and assumptions is not exhaustive. Other events or circumstances could cause our actual results to differ materially from those estimated or projected and expressed in, or implied by, our forward-looking statements. See also
the risks and assumptions discussed under “Risk Factors” in our most recent Annual Information Form and in subsequent filings, which can be found under our profile on SEDAR+ (www.sedarplus.ca) and on EDGAR (www.sec.gov). The forward-looking statements contained in these
slides and accompanying presentation describe Teck’s expectations at the date hereof and are subject to change after such date. Except as required by law, we undertake no obligation to update publicly or otherwise revise any forward-looking statements or the foregoing list of
assumptions, risks or other factors, whether as a result of new information, future events or otherwise.
Scientific and technical information in this presentation was reviewed and approved by Rodrigo Alves Marinho, P.Geo., an employee of Teck and a Qualified Person under National Instrument 43-101.
VALUE-DRIVEN
DISCIPLINED
GROWTH, STRONG
RETURNS
November 5, 2024
Jonathan Price
President and Chief Executive Officer
RESPONSIBLE Driven by our purpose and values, we will grow to
become one of the world’s leading providers of
GROWTH AND
responsibly-produced energy transition metals
VALUE CREATION
Balancing growth with cash returns
to shareholders
Our strategy is focused around four pillars:
METALS FOR THE VALUE-DRIVEN

CORE EXCELLENCE RESILIENCE
ENERGY TRANSITION GROWTH
Focusing on the metals Industry-leading capabilities, A rigorous approach to Ensuring we stay resilient
essential to meet growing processes and talent to drive growth focused on value and able to create value
demand driven by the us forward creation throughout market cycles
energy transition
2
METALS FOR THE
ENERGY TRANSITION
STRONG OUTLOOK FOR ENERGY TRANSITION METALS
Copper Zinc
Global Economic Growth
Increased urbanization, increased population growth
and increased demand for infrastructure and
technology
Energy Transition
Race to decarbonize to ensure a net zero future
driven by electrification
Growth in the Digital Economy

Development of AI, and digital infrastructure
including datacenters
3
METALS FOR THE
ENERGY TRANSITION
DELIVERING THE STRATEGY TO UNLOCK GROWTH

Transformed to a pure-play energy transition metals company
February 2023 February 2023 April 2023 May 2023 March 2024 July 2024
Sold our Formed Formed Implemented Completed Completed sale
interest in NewRange San Nicolas sunset for QB of steelmaking
Fort Hills Cu-Ni JV Cu-Zn JV Class A shares construction coal (EVR)
(oil sands)
Positioned to deliver
 Refocused portfolio on energy transition metals and unlock growth value accretive growth
 Exited energy and steelmaking coal businesses for value with significant cash returns
to shareholders
 Established project JVs to de-risk projects and enhance returns
 Completed construction of QB, a Tier-1 cornerstone asset
 Modernized our share structure with sunset for Class A shares 2022A Revenue 2025 Consensus Revenue1 (%)
Energy
 Delivering significant cash returns to shareholders Copper Zinc
Base Metals Base Metals

<50% 100% Copper
Zinc
Steelmaking
Coal
4
CORE EXCELLENCE
FOUNDATION OF WORLD-CLASS OPERATIONS

Energy transition metal assets in established mining jurisdictions
World-Class Copper Operations Integrated Zinc Operations
Quebrada Blanca Highland Valley Antamina Carmen de Andacollo Red Dog Trail
(60% ownership) (100% ownership) (22.5% ownership) (90% ownership) (100% ownership) (100% ownership)
Potential to be a top 5 Largest copper High quality, proven Low strip, reliable Large and high-grade One of the largest
copper mine globally mine in Canada copper-zinc producer copper producer zinc mine integrated zinc smelting
and refining complexes
Tier 1 Tier 1 Tier 1
Top 10 copper producer 70% of EBITDA*,1 Largest net zinc miner

operating in the Americas from Tier 1 assets globally
* EBITDA is a non-GAAP financial measure. See “Non-GAAP Financial Measures and Ratios” slide. 5
CORE EXCELLENCE
EXCELLENCE IN OPERATIONS AND SUSTAINABILITY RESILIENCE
Foundation for reliable value creation
Core Excellence Sustainability
Health and safety of our people Building and maintaining trust with
is our first priority communities, Indigenous groups,
and governments
Operating excellence drives
improved volumes and costs
Increasing climate and biodiversity
Capacity and capability building resilience of our operations
to enhance project delivery
Processes and systems to underpin Unlocking new opportunities

reliability and predictability and advancing permitting
6
VALUE-DRIVEN
GROWTH
VALUE-ACCRETIVE GROWTH
Path to increase copper production to ~800ktpa before the end of the decade
Value-Accretive Near-Term Copper Projects
~8001 ktpa Quebrada Blanca Optimization & Debottlenecking

Increase by (Cu-Mo-Ag | Brownfield | Chile | 60%)
~90-135kt
Optimizes value from a Tier 1 asset
510-590
Highland Valley Mine Life Extension
(Cu-Mo | Brownfield | Canada | 100%)
420-455
Extends a core asset by 17 years
297
Zafranal
(Cu-Au | Greenfield | Peru | 80%)
Low capital intensity with rapid payback expected
San Nicolás
2023 2024E 2025E Before end of decade (Cu-Zn Ag-Au | Greenfield | Mexico | 50%)
(near-term projects)
Low-capital intensity and strong returns expected
7
VALUE-DRIVEN
GROWTH
DISCIPLINED CAPITAL ALLOCATION FRAMEWORK RESILIENCE
Commitment to return 30-100% of available cash flow to shareholders*

Balancing value accretive growth with cash returns to shareholders and a strong balance sheet
Cash Flow Sustaining Base Supplemental

from Operations Capital Dividend Shareholder
after interest and finance including C$0.50 per Distributions
charges, lease payments and stripping share
distributions to non-controlling
minimum 30%
available cash flow
RETURNS
interests
Balance for growth

and cash returns
to shareholders
Committed Capital Share Buybacks

Growth Capital Structure additional buybacks will
GROWTH
be considered regularly
* Our capital allocation framework describes how we allocate funds to sustaining and growth capital, maintaining solid investment grade credit metrics and returning excess cash to shareholders. This framework reflects our intention to make additional
returns to shareholders by supplementing our base dividend with at least an additional 30% of available cash flow after certain other repayments and expenditures have been made. For this purpose, we define available cash flow (ACF) as cash flow
from operating activities after interest and finance charges, lease payments and distributions to non-controlling interests less: (i) sustaining capital and capitalized stripping; (ii) committed growth capital; (iii) any cash required to adjust the capital
structure to maintain solid investment grade credit metrics; (iv) our base $0.50 per share annual dividend; and (v) any share repurchases executed under our annual buyback authorization. Proceeds from any asset sales may also be used to
supplement available cash flow. Any additional cash returns will be made through share repurchases and/or supplemental dividends depending on market conditions at the relevant time. 8
RESILIENCE
ONE OF THE STRONGEST BALANCE SHEETS IN THE SECTOR

Net cash position and long dated debt maturity
Strong Balance Conservative Debt Repayments1 (US$M)

Sheet1 Leverage1
Debt repaid YTD at September 2024: Term notes outstanding:
$2.3B US$1.1B
177
294/year
253
195
188 167
Leading to a current net cash* Target leverage ratio 147 147
113
position of: Net debt/AEBITDA*:
$1.8B 1.0x
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
QB Project Finance Term Notes
* Net debt to adjusted EBITDA (AEBITDA) and net cash are non-GAAP ratios. See “Non-GAAP Financial Measures and Ratios” slide. 9
RESILIENCE
STRONG TRACK RECORD OF SHAREHOLDER RETURNS

4
Significant authorized returns, with $2.3B remaining, improving per-share value
Historical Shareholder Returns ($M) Additional Shareholder Returns
$5.3B returned to shareholders since 20191

$2.3B remaining
from authorized share
buyback program
&
1,392
928
30-100% of annual
250
661
532 515
207 451
future available cash flow3
111 106 106
2
2019 2020 2021 2022 2023 2024 YTD
Dividends Share Buybacks
10
VALUE-DRIVEN
GROWTH
TECK RE-RATING TO TRADE IN LINE WITH COPPER PEERS
Current EV/NTM EBITDA Multiples1 Diversified Mining Peers Copper Mining Peers
13.2x
10.6x
8.4x
7.1x 7.3x
5.4x 5.8x 6.0x
4.8x 4.4x 4.5x
3.1x
Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11
January 10, 2023 Undisturbed EV/NTM EBITDA Multiples2

14.0x
11.7x
7.6x 7.9x 8.0x
5.3x 5.5x 5.9x

4.5x 4.7x 4.8x
4.1x
Peer 3 Peer 4 Peer 1 Peer 6 Peer 2 Peer 5 Peer 9 Peer 7 Peer 8 Peer 11 Peer 10
11
DELIVERING DISCIPLINED GROWTH & STRONG RETURNS
1 High-quality assets, including three Tier 1 assets, in well-established mining jurisdictions
2 Value-accretive copper growth pipeline with a path to ~800 ktpa before the end of the decade
Track record of strong shareholder returns, with $5.3B returned since 2019 and
3 $2.3B remaining of 2024 authorized buyback
4 Industry-leading balance sheet and a net cash position
12
PRESENTING TODAY
Focused on delivering value for shareholders
Senior leadership team presenting today
Amparo Cornejo Brock Gill Crystal Prystai Dale Webb Ian Anderson Karla Mills Shehzad Bharmal
Chief Sustainability SVP, Operations, EVP and Chief SVP, Operations, EVP and Chief EVP and Chief Project EVP and Chief
Officer North America Financial Officer Latin America Commercial Officer Development Officer Operating Officer
13
APPENDIX
14
ENDNOTES
SLIDE 4: DELIVERING THE STRATEGY TO UNLOCK VALUE

1. Revenue for 2025 based on consensus estimates from 16 analyst models taken in May 2024.
SLIDE 5: FOUNDATION OF WORLD-CLASS OPERATIONS
1. Based on consensus numbers for 2025.
SLIDE 9: ONE OF THE STRONGEST BALANCE SHEETS IN THE SECTOR
1. As at September 30, 2024.
SLIDE 10: STRONG TRACK RECORD OF SHAREHOLDER RETURNS
1. 2024 YTD shareholder returns shown as of October 31, 2024. Implied remaining authorized share buyback program amount as of
October 31, 2024.
2. Available cash flow (ACF) is defined as cash flow from operating activities after interest and finance charges, lease payments and
distributions to non-controlling interests less: (i) sustaining capital and capitalized stripping; (ii) committed growth capital; (iii) any
cash required to adjust the capital structure to maintain solid investment grade credit metrics; (iv) our base $0.50 per
share annual dividend; and (v) any share repurchases executed under our annual buyback authorization. Proceeds from any asset
sales may also be used to supplement available cash flow
SLIDE 11: TECK RE-RATING TO TRADE IN LINE WITH COPPER PEERS
1. Factset estimates, as of October 31, 2024. Peers include: GLEN, S32, VALE, AAL, RIO, BHP, FM, ANTO, FCX, SCCO, IVN.
2. Factset estimates, as of January 10, 2023.
15
NON-GAAP
FINANCIAL Our financial results are prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International
MEASURES Accounting Standards Board. This presentation includes reference to certain non-GAAP financial measures and non-GAAP ratios, which are not
measures recognized under IFRS, do not have a standardized meaning prescribed by IFRS and may not be comparable to similar financial
AND RATIOS
measures or ratios disclosed by other issuers. These financial measures and ratios have been derived from our financial statements and applied
on a consistent basis as appropriate. We disclose these financial measures and ratios because we believe they assist readers in understanding
the results of our operations and financial position and provide further information about our financial results to investors. These measures
should not be considered in isolation or used in substitute for other measures of performance prepared in accordance with IFRS. For more
information on our use of non-GAAP financial measures and ratios, see the section titled “Use of Non-GAAP Financial Measures and Ratios” in
our most recent Management Discussion & Analysis, which is incorporated by reference herein and is available on SEDAR+ at www.sedarplus.ca.
Additional information on certain non-GAAP ratios is below.
NON-GAAP RATIOS
Net debt (cash) – Net debt (cash) is total debt, less cash and cash equivalents.
Net debt to adjusted EBITDA ratio – Net debt to adjusted EBITDA ratio is net debt divided by adjusted EBITDA for the 12 months ended at the
reporting period, expressed as the number of times adjusted EBITDA needs to be earned to repay the net debt.
16
CORE EXCELLENCE
OPERATIONS AND
SAFETY
November 5, 2024
Shehzad Bharmal
EVP and Chief Operating Officer
CORE EXCELLENCE
WORLD CLASS PORTFOLIO WITH TIER 1 ASSETS
4
3
Portfolio Highlights
6 6
1 2
Operating Assets Development Assets

Including three top tier assets located Industry-leading project pipeline, providing
in well-established mining jurisdictions pathway towards >800ktpa Cu production
2 in the Americas
510-590 $1.90-2.30
Copper Operations
1 Highland Valley Copper (‘HVC’)
2 Antamina kt US /lb
3 Quebrada Blanca (‘QB’)
4 Carmen de Andacollo (‘CdA’) 2025 Cu production1 guidance 2024 Cu Net Cash Unit Costs* guidance
2
Zinc Operations
1
1 Red Dog
555-615 $0.45-0.55
2 Trail Operations
3
Development Projects kt
6 US /lb
1 Zafranal
2025 Zn production1 guidance
4
San Nicolas
2024 Zn Net Cash Unit Costs* guidance
2
3 Galore Creek
4 Schaft Creek
5 NewRange
6 NuevaUnion
Net cash unit costs is a non-GAAP ratio. See “Non-GAAP Financial Measures and Ratios” Slide 2
CORE EXCELLENCE
OPERATIONAL PRIORITIES
1 2 3
Everyone goes home
Operating & Cost
safe and healthy every People & Culture
Discipline
day
Fatal risk program implemented New leadership structure Consistent operational performance
Increase uptime through reducing

Mental health focus Performance mindset
unplanned stoppages
Commitment to share learnings Management Operating System Mine fleet productivity
3
CORE EXCELLENCE
1 SAFETY DEFINES HOW WE OPERATE

Focus on a common culture and standards fostered by leadership behaviors
Our Approach to Safety Improving our safety performance
Culture Leadership
41% reduction in total recordable injury frequency1
A strong courageous
safety culture protecting Support for our frontline
our entire workforce, leaders, with a focus on
including employees and time in field
contractors
1.12
Implementation Continuous 0.92

0.8
Improvement 0.65
Consistent application of
Learning from our failures
our standards, critical
and successes while
control verification and
adopting new knowledge
risk identification
2021 2022 2023 2024 YTD
Fatalities 1 0 1 0
4
CORE EXCELLENCE
2 LEADERSHIP DRIVES PERFORMANCE

New regional structure adds senior bench strength and reinforces accountability
Latin America North America
Copper Producing Copper Producing

Safety and Health • Antamina • Highland Valley
• Quebrada Blanca Copper
• Carmen de Andacollo Zinc Producing
Operational Excellence • Red Dog
• Trail Operations
Technical and Planning
Sustainability – Communities, Environment, Government Relations Development Projects Development Projects

• Zafranal • Galore Creek
• San Nicolas • Schaft Creek
• NuevaUnion • NewRange
5
CORE EXCELLENCE
MANAGEMENT OPERATING SYSTEM

Key to structural improvement with demonstrated results
• People centered approach to standardize ways of working

• Common, understood performance indicators
• Unified and integrated planning function spanning short
and medium term planning horizons
Our Management • Teams enabled to drive system variance control
Operating System
Providing our people with clear
responsibilities and decision rights to ensure
we consistently deliver our plan. Dynamic (Ruthless)
Prioritization
Standardized daily/weekly routines To achieve

executed with discipline. reliability Continuous
and Improvement
sustainability
of outcome
Standardization
ERP Implementation
6
CORE EXCELLENCE
MOS DRIVING IMPROVEMENTS AT RED DOG

Proactive monitoring and control drives improvement on key metrics
Asset Utilization1 Throughput1 Key Benefits
+6%
1 Performance Consistency - Greater
+4%
consistency in operations boosts confidence
in achieving production targets.
2 Improved Recovery - Enhanced process

stability has led to higher recovery rates across
key production metrics.
3 Reduced Reactive Work - Focus on

preventive maintenance and structured
workflows has cut down unplanned downtime.
2023 2024 2023 2024
7
CORE EXCELLENCE
3 IMPROVING COST STRUCTURE AND PRODUCTIVITY

Focused approach to technology implementation to improve cost and productivity
Operating Cost Focus

• Optimizing consumables, maintenance and contractors
• Procurement contracts and supply chain efficiencies
Extracting Value from Technology

• Fully autonomous haulage – increasing productivity
• ShovelSense – bulk ore sorting
• Integrated Operating Centre
• Digital analytics and machine learning models
Integrated Operating Centre - Santiago
8
CORE EXCELLENCE
OPERATIONAL EXCELLENCE
Standardizing processes for consistent outcomes
1 Unwavering commitment to safety and health
2 Strong portfolio of operating assets with Tier 1 operations in the Americas
3 New structure and leadership in place to drive consistent operating performance
4 Expanding proven operating model (MOS) to ensure predictability and reliability of results
9
Presentation
Phototitle perreplaced
to be agenda;
Photo to be updated
LATIN AMERICA
OPERATIONS
November 5, 2024
Dale Webb
SVP, Operations, Latin America
LATAM OPERATIONS
Two tier 1 assets and value-accretive near-term growth projects
Region Highlights
3
2
Operating Assets 3 Development Assets
Copper Producing
1 Antamina
2 Quebrada Blanca (‘QB’) 1
3 Carmen de Andacollo (‘CdA’)
1
Development Projects
1
2
Zafranal
San Nicolas
2
370-430 kt 95-105 kt 4.7-6.5 kt

3 NuevaUnion
3
3
2025 Cu production1 guidance 2025 Zn production1 guidance 2025 Mo production1 guidance
11
QUEBRADA
BLANCA
CORE EXCELLENCE
QUEBRADA BLANCA (‘QB’)

Tier 1, low-cost, long-life cornerstone asset
Large, long-life deposit capable of supporting multiple

1 expansions QB
2 Ramp-up to full production nearing completion
Strong cash flow generation expected, due to lower costs, low

3 sustaining capital and low capitalized stripping
25 year
Current mine life
0.52% 240-280kt 280-310kt
Cu reserve grade Annual Cu production1 guidance Annual Cu production1 guidance
(2025). (2026).
14
13
CORE EXCELLENCE
QB RAMP-UP – THROUGHPUT NEARING DESIGN RATES

2
Throughput ramp-up ahead of industry average
Throughput1 (% of design) Improving Plant Throughout Performance
125% Pre-commissioning / Ramp-up

Commissioning
Achieved design capacity
2 SAG mills & 4 ball mills
180
160 Design throughput rates 143 ktpd
140
100%
Throughput - % Capacity Utilization
120
100
80
60
75% 40
20
0
Jun Aug Oct Dec Feb Apr Jun Aug

50% 2023 2023 2023 2023 2024 2024 2024 2024
Key Initiatives
25% • Asset reliability improvements on core equipment

• Increase SAG and ball mill liners life to extend operational time between
Q10
Q11
Q12
Q13
Q14
Q1
Q2
Q3
Q4
Q5
Q6
Q7
Q8
Q9
shutdowns
• Increase live capacity of coarse ore stockpile through mechanical intervention
Average Copper Project QB (RBCe) QB (Actual)
• Improvement across the value chain – MOS
14
CORE EXCELLENCE
QB RAMP-UP – CONTINUING TO DRIVE RECOVERY RATES

2
Confidence in driving recovery performance
Improving Copper Recovery Performance
100
Design recovery rates 86-92%

Key Initiatives
90
80
• Building upon HVC’s learnings to optimize asset
70 • Increased mine blending opportunities as mine plan
60
advances
• Optimizing low pH reagents to flotation circuits
50
• Grinding optimization to maximize available power
40
• Full implementation of Advanced Process Control
30 (APC) across grinding and flotation circuits
20
10
Jun Aug Oct Dec Feb Apr Jun Aug

0
2023 2023 2023 2023 2024 2024 2024 2024
15
CORE EXCELLENCE
QB RAMP-UP – HIGHER GRADES TO COME THROUGH

2
Stabilized mine planning and grade profile
Current Mine Plan Previous Mine Plan

Delay in higher grade material from
2025 to 2026
Buttress
• Mining rate in 2024 in line with plant

capacity/ramp-up
− Mine sequence impacted resulting
in delay in accessing higher grades
4030 • Localized geotechnical issue resulted

in delay in access to higher grades
4060
from the 4030 bench in 2024
− Buttress completed and stabilized
in Q3 2024
4060
• Some transition ore will be mined in
2025
16
CORE EXCELLENCE
QB RAMP-UP DEMONSTRATING ROBUST DESIGN

2
Concentrator – Focus Area
Grinding Bulk
Lines 1 & 2 Flotation
Rougher, cleaner, Scavenger
Pebble
Crushers Iquiq
ue
Concentrator Operati
on
Plant
Moly . MINE
Plant AREA Autonomous
Substation
Transport
Crusher
System
Integrated
Cent Santia
Operations
er
go
Concentrate 425 high

Tailings Centre
voltage
filters and towers
Deposit
Substation
storage Pumping
stations N°
PORT
03
Shiploader Desalination
plant
Desalination
Water intake 17
CORE EXCELLENCE
CONTEXT TO OUR 2025 GUIDANCE

2
Production guidance of 240-280kt achievable based on current mine performance
2025 Production (kt, contained copper)
Low End of Guidance
3 1
• Marginal improvement in asset utilization from current performance
+20 • No change in Q3 daily throughput of 125ktpd (87% of nameplate)

2
• Expected increase in average grades to 0.60% from the mine plan
1 +20 • No increase in Q3 recoveries of 83%
2 Midpoint
• 1% improvement in online time on asset utilization
280 • Increase daily throughput rates to 140ktpd (98% of nameplate)
260 • Expected increase in average grades to 0.60% from the mine plan
240 • 2% increase in Q3 recoveries to 85%
3 Top End of Guidance

• Stable operations at design throughput rates of 143.5ktpd (100% of nameplate)
• Expected increase in average grades to 0.60% from the mine plan
• 5% increase in Q3 recoveries to 88%
18
CORE EXCELLENCE
QB – CONTINUED AREAS OF FOCUS INTO 2025

2
Key focus areas to deliver
Focus on stabilization Ramp-up the molybdenum plant to Value Chain Optimization
full capacity
Recovery • Delayed full ramp-up until copper circuit Mine Operations Stability
stable
• Improved ability to blend as the mine • Continued improvement of the AHS fleet
matures • Molybdenum plant design is robust
• Flotation reagent implementation • Achieved on-grade product within 2 months

of full ramp up (August and September)
• Maximize available power in the grinding
circuit
Throughput Molybdenum Quality

• Asset reliability improvements on core
equipment
• Coarse Ore Stockpile management to
increase live capacity Ramp-Up Continued Implementation of MOS
• Continued improvement of core processes -
Availability planning and execution with operations,
maintenance and technical teams
• Core and auxiliary equipment reliability
improvement • Standardized processes to deliver consistent
outcomes
19
CORE EXCELLENCE
QB TO GENERATE STRONG EBITDA AND CASH FLOWS

3
Low sustaining and stripping capex results in high FCF conversion
Illustrative 2026 EBITDA1 ($B) High cash conversion potential Costs expected to reduce going forward
Low sustaining capital • Increase in copper production

$2.6B
US$5.00/lb Cu
First 5 years volumes
$2.2B US$0.20/lb • Ramp-up of molybdenum plant
US$4.55/lb Cu should increase by-product
credits
Very low strip ratio
First 5 years • Full shipping utilization
0.37x • Re-sizing the contractor workforce

as ramp-up completes
$1.8B
US$4.10/lb Cu
Unit costs going forward

lower
EBITDA is a non-GAAP measure. See “Non-GAAP Financial Measures and Ratios” Slide 20
ANTAMINA
CORE EXCELLENCE
ANTAMINA
One of the largest copper and zinc mines in the world by production
Tier 1, high-grade copper-zinc deposit producing copper, zinc,

1 molybdenum, and lead concentrates
2 Low C1 costs due to high grade and zinc credits
3 Significant land position with both near and long-term expansion potential
4 years
Current mine life plus
0.94%
Cu reserve grade
80-90kt
Annual Cu production1 guidance
$ 991M
Gross Profit before D&A*
approval to extend to 2036 (2025, 22.5% share). Trailing twelve months
(+8 years) (Q4/23 – Q3/24)
$ 705M
Gross Profit
Trailing twelve months
(Q4/23 – Q3/24)
22
*Gross Profit before D&A is a non-GAAP measure. See “Non-GAAP Financial Measures and Ratios” Slide
CORE EXCELLENCE
FIRST QUARTILE CASH COSTS

2
7th largest copper mine globally
• Largest mine in Peru Top 10 Largest Copper Mines – Cash Cost Benchmarking1 (US$/lb, after by-products)
• High grade, high throughput operation

• 0.94% copper reserve head grade
• ~146,000 tonnes processed/day
• Large copper producer with by-product zinc,
silver, moly and lead
• Wholly owned mining infrastructure, $0.50

including concentrate pipeline and port
facilities
Antamina
Among the lowest cash costs of the major copper mines
23
CORE EXCELLENCE
ANTAMINA: LIFE EXTENSION

3
Permit approval received in Q1 2024
Tucush
Waste
Dump
Received regulatory approval to extend life of mine to 2036
Open Pit
• Maintains current production profile of well known, proven asset
Tailings
Facility
Enables low-risk US$2B investment (Teck’s share - US$450M) over 8 years to
optimize and expand the existing facilities including:
Crushing
• A pit expansion with in-pit waste crushing and conveying systems to reduce and Material
Transport
haulage demands as the pit deepens System
• A 30m raise of the existing tailings dam to create additional tailings

management facility capacity
• New mining equipment and expanded truck shop Mine Operation
Area
East Waste
Dump
2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038
Theoretical LE (LOM) Plan

Timeline
Evaluation of post 2036 Extension Options
24
CARMEN DE
ANDACOLLO (CDA)
CORE EXCELLENCE
CARMEN DE ANDACOLLO (‘CDA’)

Highly efficient operation
1 One of the Americas lower cost operations (on a $/t milled basis)
2 Operational and cost improvements driving results
3 Cash generative asset
12 year
Current mine life
0.31%
Cu reserve grade
50-60kt
Annual Cu production1 guidance
$ 103M
Gross Profit before D&A*
(2025, 100%) Trailing twelve months
(Q4/23 – Q3/24)
$ 29M
Gross Profit
(Q4/23 – Q3/24)
*Gross profit before D&A is a non-GAAP measure. See “Non-GAAP Financial Measures and Ratios” slide. 27
26
CORE EXCELLENCE
2 IMPROVING OPERATIONAL AND COST PERFORMANCE

Resolved production limitation and improving cost control to deliver value
Unlocking throughput
Addressing water availability to site – resolved production limitation
• Reduced water availability during 2023 due to drought and voluntary reduction of water to support local farming
• 2 replacement wells were drilled in Q2 2024 and two more wells are planned in Q2 2025
Reducing costs
Strengthened operators’ skills – reduced incidents by 89%
• Improved training programs for operators

• Significant reduction in operator incidents leading to improved productivity
Reduced unscheduled spend – annual savings achieved
• Improvement in asset care practices allow for more maintenance predictability

• Reduction in component failures and associated costs
27
LATIN AMERICA OPERATIONS
Presentation
to be agenda;
Photo to be updated
NORTH AMERICA
OPERATIONS
November 5, 2024
Brock Gill
SVP, Operations, North America
CORE EXCELLENCE
NORTH AMERICA OPERATIONS

Cornerstone copper asset and fully integrated zinc operations
Region Highlights
3 3
1
2
1 Operating Assets Development Assets
1
2
Copper Operations
140-160 460-510 270-300

1 Highland Valley Copper (‘HVC’)
kt kt kt
Zinc Operations
1 Red Dog 2025 Cu production1 2025 Zn production1 2025 refined Zn production
Trail Operations
guidance
2
guidance guidance
Development Projects
1 Galore Creek
2 Schaft Creek
3 NewRange
30
HIGHLAND
VALLEY COPPER
CORE EXCELLENCE
HIGHLAND VALLEY COPPER (‘HVC’)

Asset highlights
1 Technology and Innovation underpins efficient, low-cost operations
2 Mine plan drives material increase in 2025 production
3 Attractive, low risk, brownfield mine life extension
4 years
Current mine life, potential
0.30% 140-160kt $472M
Cu reserve grade Annual Cu production1 guidance Gross Profit before D&A*
extension to 2045 (2025) Trailing twelve months
(+17 years) (Q4/23 – Q3/24)
$ 244M
Gross Profit
(Q4/23 – Q3/24)
32
CORE EXCELLENCE
MULTIPLE PITS AND TAILORED FLOWSHEET OFFERS FLEXIBILITY
Lornex Pit
Valley Pit
Plant Site
34
33
CORE EXCELLENCE
INNOVATION HAS DRIVEN EFFICIENCIES

1
Will continue to add value during HVC MLE and across other assets
HVC has utilized well-understood technology to drive production
Autonomous Haulage System

• Partner with Caterpillar to implement autonomous haulage system
Haul truck utilization
• Faster learnings leading to productivity improvements
100%
90%
Fleet Utilization (%)

Recovery machine-learning tools
80%
• Build machine learning models that enable optimized reagent mixes based on End of
ore material Conventional Fleet
70%
60%
50%
ShovelSense bulk ore sorting 2020A 2022A 2024E 2026E 2028E
• Deploying proof of concept for sensors to track ore from the face to the plant Autonomous Fleet Conventional Fleet
• Improves operational control and conditions in concentrator
34
CORE EXCELLENCE
EFFICIENT OPEN PIT MINE

1
One of the lowest cost operations in the Americas
Open Pit Americas Operating Cost Benchmarking1 (US$/t mined)
• Highly efficient operation driving significant
EBITDA*
• Skilled and efficient workforce
• Operating flexibility and resiliency with multiple

crushing / grinding infrastructure
• Large grain size mineral deposit, requires less

grinding to liberate the ore
$11.05
• Innovation and technology embedded in the
operation
• Expansive infrastructure base (rail, highway,

power, etc.)
HVC
Focused on cost discipline to protect margins through-the-cycle
.
*EBITDA is a non-GAAP measure. See “Non-GAAP Financial Measures and Ratios” slide. 35
CORE EXCELLENCE
NEAR-TERM OUTLOOK
2
Large proportion of higher grade and softer Lornex ore
Production (kt, contained copper) HVC Ore Feed (% of overall throughput)
+50% 19%
63%
100% 100%
81%
37%
2 2
2022A 2023A 2024E 2025E
Valley Lornex
140-160 Lornex Ore Characteristics
99 97-105
Throughput Cu Recovery
Cu Head Grade Mo Head Grade

1 1
2023 2024 2025
1. 2024 and 2025 production shown reflective of current guidance.

2. Represents an estimate for 2024 and 2025 HVC ore feed. 36
CORE EXCELLENCE
GEOLOGY HIGHLIGHTS
HVC’s unique geology enables efficient processing and high-quality output
Pit Map Reserves and Resources Statement (YE 2023)
A A’ Grades Contained Metal

Tonnes Cu Mo Cu Mo
(Mt) (%) (%) (kt) (kt)
Original Topo
Reserves 263 0.30% 0.009% 779 24
M+I 1,114 0.28% 0.009% 3,178 99
Resources
Inf. 70 0.22% 0.010% 154 7
LOM Pit
• Host rocks of the deposits mainly porphyritic quartz monzonites and
Cu (%) MLE Pit granodiorites
A’ • The sulphide ore is generally coarse-grained and dominated by
Lornex Fault
chalcopyrite, bornite, and molybdenite with low levels of pyrite
• Permits coarser grinding size compared to other porphyry

deposits, lowering grinding power requirement and associated cost
• High-quality concentrate with negligible impurities and no acid-rock

A drainage
Well-understood orebody demonstrated by alignment between resource, grade control, and mill feed models
38
37
CORE EXCELLENCE
HISTORY OF SUCCESSFUL EXTENSIONS AT HVC

3
HVC Production History

Mt %
200 Illustrative 0.80%
3rd MLE MLE
180 Sanction 0.70%
2nd MLE
160
1st MLE 0.60%
140
0.50%
120
100 0.40%
80
0.30%
60
0.20%
40
0.10%
20
- 0.00%
Ore Copper Feed Grade
Experience executing on multiple successful extensions at HVC over 50+ year history
38
CORE EXCELLENCE
OVERVIEW OF HIGHLAND VALLEY MINE LIFE EXTENSION

Attractive capital intensity
Overview Scope Permitting

Quality brownfield extension Well-understood ore body and On-track with regulatory and
proven asset performance Indigenous reviews in progress
• Extends existing HVC copper
production with expansion expected • SAG Replacement of AG • British Columbia Environmental
to be completed in 2027 • C3 Ball Mill (tertiary grinding) Assessment (EA) application
• Project includes increased grinding • Flotation, Tailings Upgrades submitted in Q4 2023
capacity, flotation circuit • Ongoing discussions
• Mine Fleet Additions
modifications, expansion of existing with several Indigenous nations to
tailings facility, and expanded mine • Mine Maintenance Shop Expansion support their internal reviews
fleet
2025 2026 2027 2028 2029
Illustrative Construction
Timeline Permitting &
Sanction Pit Expansion / Waste Stripping Incremental Metal Production
39
CORE EXCELLENCE
PROJECT SCOPE
Extensions Upgrades
Key areas of upgrades and relocations
Water
Management
Infrastructure
Adjustments
Highland TSF
Capacity
Increase
Valley Pit
Extension
Concentrator
Upgrades
Mobile
Equipment and
Truck Shop
Valley South Waste Facility

Infrastructure Relocations
Bethlehem
Tailings
Removal and
Power Supply
40
CORE EXCELLENCE
HVC MINE LIFE EXTENSION

Estimated project capital of $1.8-2.0B; average annual Cu production of 137kt1 to 2045
HVC Ore Feed (% of overall throughput)
100%
80%
60%
40%
20%
0%
2022A 2025E 2028E 2031E 2034E 2037E 2040E 2043E
Valley Lornex Highmont Bethlehem
Ore Mined Tonnes and Forecast Contained Copper Production
75 250
Ore mined tonnes (Mt)
200
Production (ktpa)
50
150
100
25
50
0 0
2022A 2025E 2028E 2031E 2034E 2037E 2040E 2043E
Ore Tonnes (Mt) Production (ktpa)
Note: A represents actual results and E represents an estimate. 41

RED DOG
CORE EXCELLENCE
RED DOG OPERATIONS (‘RDO’)

Asset highlights
One of the world’s largest zinc mines1, and largest critical minerals mine
1 in the United States
2 Consistent cash flow generation
Built on a world-class mining district with potential to extend mine life

3 well beyond current operation
7 year 12.0% 460-510kt $689M

Zn reserve grade Annual Zn production2 guidance Gross Profit before D&A*
Current mine life
(2025). Trailing twelve months
Q4/23 – Q3/24
489M
$
Gross Profit
Q4/23 – Q3/24
43
CORE EXCELLENCE
RED DOG MINE LIFE EXTENSION

3 High grade, large-scale underground mine that leverages existing mill and infrastructure
Overview Scope Permitting

High zinc and lead grades Leveraging existing infrastructure NANA relationship
• Aktigiruq estimated at >100Mt of • Surface resource drilling ongoing • NEPA permitting requires EIS
mineral inventory • Recently completed Scoping Study (Expected to be a 4.5 Year process
• ~18% zinc + lead grade and entering PFS beginning in 2026)
• Expected to have 25+ years mine life, • Assessing development alternatives • State mineral claims owned by Teck
producing over 400ktpa of zinc • Using existing RDO mill and • Working on a new agreement for use
• Relatively shallow underground mine infrastructure of Red Dog facilities with the NANA
• Specialty metals including
germanium
Illustrative Timeline Engineering and Permitting Construction Production
2025 2026 2027 2028 2029 2030 2031 2032
Mine
Extension Studies Twin Decline Development
Development
UG Production Commences
NEPA Process incl. permitting
44
TRAIL
CORE EXCELLENCE
TRAIL OPERATIONS ASSET HIGHLIGHTS

One of the largest fully integrated polymetallic smelting and refining complexes
Produce refined zinc and lead, precious and specialty metals, chemicals
and fertilizer products
Strong strategic value enabling vertical integration for the zinc segment
Trail
Decades of experience employing recycling processes & new market

opportunities emerging in electric vehicle battery recycling sector
47
46
CORE EXCELLENCE
VERTICAL INTEGRATION FOR THE ZINC BUSINESS

Largest zinc smelter in North America
• Vertically integrated feed supply (Red Dog) North America Zinc Smelter Capacity (kt)
• Supports stability and commercial 270-300
security of feed
• Focus on cash generation
• Best-in-class carbon intensity1, as power is
100% renewable
• Efficient, integrated smelting operation
• Strategic producer of critical minerals,
Trail
• E.g. germanium, indium, low-alpha
lead and fertilizer
• Long history of recycling lead and zinc Zinc Smelting CO2 Intensity Curve (t CO2 e/t ZnEq)2
alkaline batteries and CRT glass
• Opportunity to expand recycling to
lithium ion / EV batteries
• Stable operating costs and reducing
sustaining capital post-KIVCET boiler repair
in 2024
Trail Teck
Cumulative production (kt)
47
NORTH AMERICA OPERATIONS
APPENDIX
ENDNOTES
SLIDE 1: WORLD CLASS PORTFOLIO WITH TIER 1 ASSETS SLIDE 43: RED DOG OPERATIONS (“RDO”)
1. Production shown as contained metal. 1. Source: Wood Mackenzie. Top zinc producing mine 4 of the last 5 years.
SLIDE 4: SAFETY DEFINES HOW WE OPERATE 2. Production shown as contained metal.
1. TRIF reduction calculated as 2024 YTD TRIF divided by 2022 TRIF. SLIDE 47: VERTICAL INTEGRATION FOR THE ZINC BUSINESS
SLIDE 7: MOS DRIVING IMPROVEMENTS AT RED DOG 1. Based on third-party data from the International Zinc Association (IZA) and Skarn Associates, when compared to the carbon
1. Asset utilization and throughput re-based to 100 using 2023 utilization and operating throughput as the base. Reflects actual footprints of different global suppliers of SHG and CGG zinc, Teck’s carbon footprint is significantly lower. For further
results through Jan – Oct 2023 and same period 2024. information, see teck.com/media/Teck-Low-Carbon-Assertion.pdf
SLIDE 11: LATAM OPERATIONS 2. Source: Skarn Associates. Zinc smelting CO2 intensity dataset.
1. Production shown as contained metal.

SLIDE 13: QUEBRADA BLANCA (“QB”)
SLIDE 14: QB RAMP UP – THROUGHPUT NEARING DESIGN RATES
1. Source: RBC Capital Markets, October 2024. RBC benchmarked QB’s actual throughput ramp up performance against all
copper peers within their dataset.
SLIDE 20: QB TO GENERATE STRONG EBITDA AND CASH FLOWS
1. Illustrative 2026 EBITDA generated from our operations potential calculated using midpoint of Teck’s current 2026 production
guidance and consensus copper, QB, and zinc net cash unit costs from 17 analyst models as of August 2024.
SLIDE 22: ANTAMINA
SLIDE 23: FIRST QUARTILE CASH COSTS
1. Source: Wood Mackenzie 2026 cash cost and production data as of Q2 2024.
SLIDE 26: CARMEN DE ANDACOLLO (“CDA”)
SLIDE 30: NORTH AMERICA OPERATIONS
SLIDE 32: HIGHLAND VALLEY COPPER (“HVC”)
SLIDE 35: EFFICIENT OPEN PIT MINE
1. Source: Wood Mackenzie 2025 cost estimates as at Q2 2024. Peer set selected from operating open pit copper mines in the
Americas with copper production between 75-225kt.
SLIDE 41: HIGHLAND VALLEY MINE LIFE EXTENSION
1. Average annual copper production (contained metal) from 2025 to 2045.
50
NON-GAAP
AND RATIOS
NON-GAAP RATIOS
Net cash unit costs – Net cash unit costs of principal product, after deducting co-product and by-product margins, are also a common industry
measure. By deducting the co- and by-product margin per unit of the principal product, the margin for the mine on a per unit basis may be
presented in a single metric for comparison to other operations.
51
COMMERCIAL
EXCELLENCE
November 5, 2024
Ian Anderson
Executive Vice President and Chief Commercial Officer
CORE EXCELLENCE
TECK'S APPROACH TO COMMERCIAL EXCELLENCE

Driving margin optimization, with focus on delivering optimally to customers
1 2 3 4
High quality Optimized
Geographically Strong customer
products attract logistics chain
balanced book relationships to
differentiated for full value
with optionality support growth
pricing delivery
2
CORE EXCELLENCE
1 HIGH QUALITY COPPER DRIVES PREMIUM PRICING
Teck in the Copper Market QB has some of the lowest arsenic content
• Top 10 global copper marketer - long-term contracts with copper concentrate…
top tier smelters 15,000
Tonnes Arsenic Contained

• QB concentrate is a clean, low arsenic, premium product 12,000
for blending from a long-life, stable asset
9,000
• Uncommitted book + tonnage options = flexibility to
6,000
strategically redirect tonnes
3,000
QB
0
… and our contracts achieve premium pricing
Margin Above Annual Terms

Contracts In Place
3
CORE EXCELLENCE
1 RED DOG PRODUCES LOW COST AND LOW CARBON ZINC
Teck in the Zinc Market Red Dog is in the 36th percentile of C1 costs1…
200
• Top 5 global zinc producer – long-term contracts with top
tier smelters
150
• High grade concentrate with low deleterious elements
Red Dog:
C1 (c/lb)
RED DOG
• One of the world's largest germanium sources for critical 100 36th percentile
minerals processed at Trail Operations (2024 C1)
50
…and the 80th percentile of zinc concentrates grade

75
53.5% Zn
Conc Grade (%)

50
25
0
Cumulative Production (percentile)
Based on third-party data from the International Zinc Association (IZA) and Skarn Associates, when compared to the carbon footprints of different global suppliers of SHG and CGG zinc, Teck’s carbon footprint is significantly lower. For further information,
see https://www.teck.com/media/Teck-Low-Carbon-Assertion.pdf. 4
CORE EXCELLENCE
2 GEOGRAPHIC DIVERSITY
Provides commercial optionality: Copper Concentrate Sales1

Americas
• Risk mitigation Europe
25% 10%
• Market flexibility China

24%
• Optimized logistics
Asia
41%
Zinc Concentrate Sales1

Europe
Americas
20%
34%
Asia
28% China
18%
5
CORE EXCELLENCE
3 MATURE, LOW-COST LOGISTICS NETWORK
Terminal capacity and QB Port – 100% Teck Owned

transportation mode Vancouver Wharves – long term partner
options Rail & trucking access
Competitive tenders
High quality marine
and emissions reduction
providers
agreements
6
CORE EXCELLENCE
4 SERVICE AND QUALITY DRIVE ENDURING CUSTOMER

RELATIONSHIPS TO SUPPORT GROWTH
Integrated planning to improve qualities and unlock constraints
Optimized channels for logistics reliability
Market experience and technical capability drive full value recognition
Responsiveness and problem solving enhance customer satisfaction
7
CORE EXCELLENCE
CASE STUDY: LOW CARBON ZINC METAL

A globally differentiated high quality product
Established leader Trail low-carbon

Third party verified
in material and Special High Grade
responsible producer
product stewardship (SHG) zinc1
Based on third-party data from the International Zinc Association (IZA) and Skarn Associates, when compared to the carbon footprints of different global suppliers of SHG and CGG zinc, Teck’s carbon footprint is significantly lower. For further information, see
https://www.teck.com/media/Teck-Low-Carbon-Assertion.pdf. 8
APPENDIX
9
ENDNOTES
SLIDE 4: RED DOG PRODUCES LOW COST AND LOW CARBON ZINC
1. Wood Mackenzie, 2024.
SLIDE 5: GEOGRAPHIC DIVERSITY
1. Based on tonnes delivered in 2023.
10
SUSTAINABILITY
LEADERSHIP
November 5, 2024
Amparo Cornejo
Chief Sustainability Officer
CORE EXCELLENCE
SUSTAINABILITY UNDERPINS OUR VALUE CREATION STRATEGY

We are committed to sustainability leadership
1 2 3
Strong Relationships
Climate Change Biodiversity with Communities &
Indigenous Peoples
We are part of a low carbon Mining directly impacts and is Building strong relationships
Buildingwith
strong relationships
future, supplying critical minerals dependent on terrestrial, communities and Indigenous
with communities and
and driving towards net-zero freshwater and marine Peoples is embeddedIndigenous
in the core Peoples is
emissions ecosystems, and we are of our business embedded in the core of our
committed to halt and reverse business
the current trend of nature loss
2
CORE EXCELLENCE
SIGNIFICANT
RECENT Key Goals Recent Progress
PROGRESS Climate Change • Contracted 100% of energy requirements

Target for net zero Scope 1 & at QB Operations from renewable
2 emissions by 2050 sources – on track to achieve Scope 2 net
zero emissions by 2025
Ambition for net zero Scope 3
• Renewable diesel being consumed at
emissions by 2050
HVC Operations
Biodiversity • One of the first miners to commit to

Working towards a nature nature positive goal by conserving or
positive future by 2030 rehabilitating at least three hectares for
every one hectare affected by our mining
activities
Communities & • Increased local employment and

Indigenous Peoples procurement opportunities to provide
Increasing benefits for local direct economic benefits
communities and working to • Providing business development,
achieve free, prior and capacity-building, and education and
informed consent training for Indigenous Peoples
3
CORE EXCELLENCE
OUR CLIMATE CHANGE STRATEGY
Carbon Intensity Profile1 (t CO2e / t CuEq)

Natural Gas and Coal Diesel Electricity Fugitive Methane Offsets & Insets
Coal transaction materially

Supplying critical resources decarbonizes portfolio
for the energy transition

3 2.7
Renewable electricity,
Driving towards renewable diesel support
further emissions reductions
net-zero emissions 2.0
2
1.3
Adapting to the physical

impacts of climate change 1
0
2020 2020 2030
Before After 33% Intensity
Transaction Transaction Reduction
1. Forecasts are based on current operations and exclude emissions from unsanctioned copper growth projects.
See Caution Regarding Forward-Looking Statements slide regarding uncertainties associated with future decarbonization actions. 4
CORE EXCELLENCE
COMMITTED TO BIODIVERSITY AND RELATIONSHIPS

WITH COMMUNITIES AND INDIGENOUS PEOPLES
Biodiversity Strong Relationships with Communities and

Indigenous Peoples
• Early adopter of nature positive, and working towards a nature • Engaging with Indigenous Peoples early and working to achieve
positive future by 2030 their free, prior and informed consent for our activities
• $12 million in new off-site investments protecting or restoring • 102 active agreements with Indigenous Peoples, including 12
51,737 hectares in Canada and Chile since 2020 - equivalent to new agreements ranging from exploration agreements to
200% of our gross mining footprint
participation agreements
• Quantifying our impacts on nature using science-based
accounting to inform decision-making and disclosure • Increasing local employment opportunities and Indigenous
contracting opportunities - $388M in 2023, up from $192M in
• Engaging with Indigenous Peoples and local communities to 2020
define priorities for conservation and restoration
• Zero significant community disputes in 2023 at our operations
5
CORE EXCELLENCE
SUSTAINABILITY IN ACTION: QB
QB desalination plant Little tern Local Indigenous community QB employee at the operation
Desalinated Water and Environment and Communities and Inclusion and

Renewable Power Biodiversity Indigenous Peoples Diversity
• First mining operation in • Adjusted pipelines and • Early dialogue, ~12 years • ~1 in 3 employees at the
the Tarapacá Region of high voltage line to protect prior to first copper operation are women,
Chile to use 100% metharme lanata plants significantly above the
• Currently 22 agreements
desalinated seawater industry norm
• Designated 80 hectares for with local Indigenous
• Expected to be powered little tern protection communities and • 42% local employment
by 100% renewable fishermen’s unions
• Network that strengthens
electricity from 2025
• Protection, rescue and the capacities of 700 local
preservation of entrepreneurs
archaeological findings
6
CORE EXCELLENCE
SUSTAINABILITY
Our experience from QB2 will support
projects elsewhere
We view sustainability as a key enabler to:

• Support permitting
• Reduce risks
• Minimize project delays
• Strengthen operational resilience
• Build stakeholder trust
• Create growth opportunities
• Generate value for shareholders
Our focus on responsible mining

enables our growth strategy
7
APPENDIX
8
OUR CLIMATE CHANGE STRATEGY
Potential pathway to our 2030 operations goal
Greenhouse Gas Emissions Profile1 (Mt of CO2e)

Natural Gas and Coal Diesel Electricity Fugitive Methane Offsets & Insets
4 33% reduction in Scope 1+2 carbon intensity
2.9 (1.9) 1.9 (1.9)

3
1.0 1.0
1
2020 LESS: 2020 ADD: LESS: 2030

Before Steelmaking After Growth, Decarbonization, Forecast
-1 Transaction Coal Transaction Transaction including QB including Chile PPAs
1. Forecasts are based on current operations and exclude emissions from unsanctioned copper growth projects.
See Caution Regarding Forward-Looking Statements slide regarding uncertainties associated with future decarbonization actions.
9
Presentation
to be agenda;
Photo to be updated
VALUE-DRIVEN
GROWTH
November 5, 2024
Jonathan Price
President and Chief Executive Officer
VALUE-DRIVEN
GROWTH
ADVANCING COPPER GROWTH

Well positioned to create value from our copper growth portfolio
Preserving optionality while defining optimal

value-driven pathway
Leveraging lessons learned – expanding

capacity and capability to execute projects
simultaneously
On track to become a
Focus on advancing permitting - critical path Top 10 Global
Copper Producer
Prudent investments on longer-dated options

for the next phase of growth
2
VALUE-DRIVEN
GROWTH
FOUNDATION OF WORLD-CLASS OPERATIONS AND PROJECTS
1 2
Operating Assets Brownfield Projects

3
3
1 2
Copper Operations
Quebrada Blanca (QB) QB Future Expansion 1 Highland Valley 5
2 Antamina
Operations
Antamina Antamina Mine Life Extension 3 Quebrada Blanca

4 Carmen de Andacollo
Highland Valley Highland Valley Mine Life Extension Copper Projects
1 2
Zafranal
Carmen de Andacollo (CdA) CdA Mine Life Extension 2 San Nicolas
3 Galore Creek
Red Dog Red Dog Aktigiruq Asset Extension 4 Schaft Creek
5 NewRange
Trail EV Battery Recycling opportunity 6 NuevaUnion
1
Defined Projects Prospective Projects 2
1
San Nicolás NuevaUnión
Projects
3
Zafranal Teena
Zinc Operations
6
1 Red Dog 4
Galore Creek Cirque 2 Trail Operations
NewRange Zinc Projects

1 Teena
Schaft Creek 2 Red Dog Aktigiruq Asset Extension
3 Cirque
3
VALUE-DRIVEN
GROWTH
VALUE-ACCRETIVE GROWTH
Path to increase copper production to ~800ktpa before the end of the decade
Value-Accretive Near-Term Copper Projects
~8001 ktpa Quebrada Blanca Optimization & Debottlenecking

Increase by (Cu-Mo-Ag | Brownfield | Chile | 60%)
~90-135kt
Optimizes value from a Tier 1 asset
510-590
(Cu-Mo | Brownfield | Canada | 100%)
420-455
Extends a core asset by 17 years
297
Zafranal
(Cu-Au | Greenfield | Peru | 80%)
Low capital intensity with rapid payback expected
San Nicolás
2023 2024E 2025E Before end of decade (Cu-Zn Ag-Au | Greenfield | Mexico | 50%)
(near-term projects)
Low-capital intensity and strong returns expected
4
VALUE-DRIVEN
GROWTH
NEAR-TERM GROWTH PROJECTS HAVE A SMALLER SCOPE

Reduced scope and complexity, leading to lower capital intensity
Mine Area Linear Works Workforce / Port Area
QB2 – Large Scope
Annual Mining Rate Water Supply Pipeline Construction Workforce
120 Mtpa 165 km ~15,000 (peak per shift)
5
Mine TMF Launder / Water Reclaim Transmission Line Port
Port
12 km 165 km New
1
~ 4,400m elevation
TMF Capacity Concentrate Pipeline Desalination Plant
1.4 Bt 165 km New
New / upgraded access road ~25 Km
Zafranal – Medium Scope
105
277
50 Mtpa 54 km ~ 4,000
Water supply Mine
Port
109
TMF Launder / Water Reclaim Transmission Line Port
1S
27 <5 km 96 km Existing
~ 2,800m elevation TMF Capacity Concentrate Pipeline Desalination Plant

0.44 Bt
New access road ~25 Km
San Nicolás – Small Scope
45 54 Gulf of Mexico ports:
~ 700 Km from the project 45 Mtpa In pit water supply ~ 2,000
Zacatecas
45 49
Mine TMF Launder / Water Reclaim Transmission Line Port
Pacific Coast ports: 144
~ 625 Km from the project 54 <5 km < 25 km Existing

~ 2,100m elevation
TMF Capacity Concentrate Pipeline Desalination Plant
New access road ~25 Km
0.10 Bt
5
VALUE-DRIVEN
GROWTH
PORTFOLIO APPROACH TO BALANCING RISKS AND RETURNS

Project derisking drives enhanced returns and value creation
QB Optimization San Nicolás

& Debottlenecking Zafranal
Higher Return
Relative Return
Lower risk, higher returns Higher risk, higher returns
Lower risk, lower returns Higher risk, lower returns
Highland Valley
Mine Life Extension Size = attributable production
Green = Greenfield
Brown = Brownfield
Lower Return
Relative Risk
Lower Risk Higher Risk
6
VALUE-DRIVEN
GROWTH
WELL-FUNDED NEAR-TERM PROJECTS

De-risked through financial and operational partnerships
Value-Accretive Near-Term Copper Projects Total Attributable
Estimated Capital Teck Ownership Estimated Capital
(Cu-Mo | Brownfield | Canada | 100%) $1.8-2.0B1 100% $1.8-2.0B
100% ownership US$1.3-1.4B2 US$1.3-1.4B
Zafranal
(Cu-Au | Greenfield | Peru | 80%) 80%
US$1.9-2.2B3 US$1.5-1.8B
80% ownership; 20% Mitsubishi Materials
San Nicolás
(Cu-Zn Ag-Au | Greenfield | Mexico | 50%)
50% US$0.3-0.5B4
50:50 joint venture with Agnico Eagle
Quebrada Blanca Optimization & Debottlenecking

(Cu-Mo-Ag | Brownfield | Chile | 60%) Capital requirement in development – very low capital intensity
60% ownership; 30% SMM/SMC; 10% Codelco US$0.1-0.3B5 66% US$0.1-0.2B
Total Attributable US$3.2 – 3.9B

Estimated Capital US$
Teck’s estimated funding share for San Nicolás is US$0.3-0.5 billion. Teck’s attributable estimated capital for QB is 66% as Codelco’s 10% interest is non-funding. 7
VALUE-DRIVEN
GROWTH
NEAR-TERM GROWTH PROVIDES BEST VALUE OPPORTUNITY

Low capital-intensity, lower complexity projects generating strong returns
Recent greenfield and brownfield capital intensity1 Precedent transactions imply higher price for
(US$k/tpa Copper) copper production4 (US$k/tpa Copper Equivalent)
Greenfield projects Brownfield projects $41 $41

$34
$31
$29 Average: $30k
$30
$29
$25
$22
$20 $23
$22
$17 $17
$10-16 $14-16
$8-145
3
QB San Nicolas2 Zafranal Quellaveco Cobre Kamoa-Kakula El Abra Oyu Tolgoi QB2 Centinela Bagdad Khoemacau Mopani
Optimization and 50% Panama (Ph 3) (Expansion) (UG) (Ph 2) (Expansion)
Debottlenecking (100%) (51%)
Base Metals
Aug July Sept Nov Dec Dec Zafranal
2022 2023 2022 2023 2023 2023 San Nicolas
8
VALUE-DRIVEN
GROWTH
ON TRACK TO BE A TOP 10 GLOBAL COPPER PRODUCER
1 Path to increase copper production to ~800ktpa before the end of the decade
2 Near-term projects have reduced scope, complexity and low relative capital intensity
3 Balanced risk-reward profile for copper growth value creation
4 Well-funded value-accretive growth – near-term estimated attributable capital of US$3.2-3.9B
9
APPENDIX
ENDNOTES
SLIDE 7: WELL FUNDED NEAR-TERM PROJECTS

1. Highland Valley Mine Life Extension latest trend growth capital estimate from September 2024 but does not include further
inflation or engineering assumptions.
2. US$ project capital shown converted at FX rate of 1.39
3. Zafranal growth capital estimate from July 2024 updated feasibility study (bridging phase) shown in nominal 2024 dollars, does
not include escalation, inflation, or further engineering assumptions.
4. Teck’s estimated funding share for San Nicolás is US$0.3-0.5 billion.
5. Illustrative range of growth capital shown for QB optimization and debottlenecking, shown in nominal 2024 dollars.
SLIDE 8: NEAR-TERM GROWTH PROVIDES BEST VALUE OPTIONALITY
1. Source: Barclays Investment Banking. Source data from peer company filings.
2. San Nicolás capital intensity shown as Teck’s estimated funding share divided by Teck’s 50% share of San Nicolás’ first 5 year
copper production.
3. Zafranal capital intensity shown at a 100% basis for estimated growth capital and copper production.
4. Source: Barclays Investment Banking. Capital intensity figures are based on LTM production and transaction EV at the
announcement date. Turquoise Hill capital intensity adjusted for ramp-up production. Khoemacau capital intensity adjusted for
ramp-up production. Mopani capital intensity adjusted for US$300M expansion and 100ktpa Cu production (100% basis).
5. Teck copper equivalent capital intensity shown as the midpoint of Teck’s estimated funding share divided by Teck’s 50% share of
San Nicolás’ copper equivalent production and the midpoint of required funding and copper production at Zafranal on a 100%
basis.
11
NEAR-TERM
GROWTH
PROJECTS
November 5, 2024
Dale Webb
Senior Vice President, Operations, Latin America
VALUE-DRIVEN
GROWTH
VALUE-ACCRETIVE NEAR-TERM COPPER GROWTH PROJECTS

Well-funded, low capital-intensity projects with sanctioning as early as 2025
QB Optimization Zafranal San Nicolás

& Debottlenecking (Cu-Au | Greenfield | Arequipa, Peru | 80%) (Cu-Zn Ag-Au | Greenfield | Zacatecas, Mexico | 50%)
(Cu-Mo-Ag | Brownfield | Tarapacá, Chile | 60%)
Optimizing value from a Tier 1 asset Low capital intensity with rapid payback Low-capital intensity and high margin
expected • Competitive capital intensity; Agnico Eagle
• Focus on ramp-up and optimization first • Competitive capital intensity; expect funds the first US$580M
• Advancing plans for near-term, capital- mid-cost curve LOM C1 cash costs • Expect 1st quartile LOM C1 cash costs
efficient debottlenecking • SEIA permit approved; progressing • Advancing feasibility study work and
detailed engineering in H2 2024 permitting
2
QUEBRADA BLANCA
OPTIMIZATION &
DEBOTTLENECKING
3
VALUE-DRIVEN
GROWTH
QB DISCIPLINED GROWTH PATHWAY

Lowest capital intensity value creation opportunity
QB Potential Ramp-Up (Throughput in ktpd)
1
Ramp-up Nameplate Optimization Debottlenecking Future Opportunities
Optimization
• Focused on operating stability at 143 ktpd
• Target to drive throughput up to ~154 ktpd in the next two years
• Rates achieved to date >143 ktpd
2
Debottlenecking
• Target 165-180 ktpd in the next three years
• Low capital investment to maximize existing plant capacity
3
Future Opportunities
• Potential of up to 1.5x – 2.0x nameplate in the next decade
2023A 2024E 2025E 2026E 2027E 2028E 2029E 2030-2035E
• Multiple configurations being studied
4
VALUE-DRIVEN
GROWTH
1 QB OPTIMIZATION TO INCREASE THROUGHPUT

Near-term throughput increase of 5-10%
• Target stable production of up to ~154 ktpd by end of 2026
Ongoing Projects (2024 / 2025)
− Rate already achieved for short periods of time
• Asset reliability improvements and minor
• No additional permit required equipment modifications
• Multiple projects underway • Continued optimization of ball mills

‒ Fully utilize available power draw in
grinding mills
• Improve recovery in flotation
• Increase efficiency of filters / clarifiers
Illustrative Timeline
Optimization and Stabilization to ~154 ktpd
2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035
5
VALUE-DRIVEN
GROWTH
2 QB DEBOTTLENECKING FURTHER INCREASES THROUGHPUT

Additional growth to ~165-180 ktpd
• Target throughput of ~165-180 ktpd in next 3 years,
with minimal investment Options being Studied (2024-2027)
• Equipment upgrades on conveyor rollers,
• Minor permit submission in development to submit in
ball addition system to SAG/Ball mills
H2 2025
• Updated stockpile / feed chute designs
• Ability to utilize more power in SAG mills
• Minor improvements to the pebble circuit
• Studies to identify debottlenecking opportunities ongoing • Drive recovery through addition of two
floatation cells at the end of the circuit
• Teck's share of funding estimated at US$100-200M1 (66%)
Debottlenecking Studies and DIA Permit Submission and Receipt Staged Debottlenecking Improvements, Based on Study Results, to ~165-180 ktpd
2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035
6
VALUE-DRIVEN
GROWTH
HISTORY OF SUCCESSFUL DEBOTTLENECKING

Multiple examples of sustained success in delivering incremental growth
HIGHLAND VALLEY ANTAMINA RED DOG
Multiple historical, incremental Design capacity increased Multiple mill improvements, focused
expansions, notably Mill incrementally several times, with a on improving recovery and maintaining
Optimization Program (MOP) in 2014 major uplift in 2012 throughput
• MOP added a new flotation plant and • Added second SAG line, mine fleet, • Maintained throughput over time despite
improvements in grinding truck shop and camps harder material
• Targeted an increase to 130 ktpd, and • Targeted 130 ktpd throughput, and • Value Improvement Projects (VIPs) have
consistently achieved >140 ktpd achieved >140 ktpd through continued resulted in less metal being sent to tailings
debottlenecking efforts with minimal through upgrades in the comminution circuit
additional capital (e.g. addition of ball mill, etc.)
Throughput (ktpd) Throughput (ktpd) Throughput (TPOH) and Zn Grade (%)

(TPOH) (%)
115 ktpd limit 130 ktpd limit 70 ktpd limit 130 ktpd limit
160 160 700 +Ball Mills +VIP 1 +IsaMills +VIP 2 25
600
120 20
120 500
400 15
80 80
300 10
40 40 200
5
100
- - 0 0
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 1996 2000 2004 2008 2012 2016 2020
7
VALUE-DRIVEN
GROWTH
3 QB FUTURE GROWTH OPPORTUNITIES

Additional expansion and extension options for the next decade
• Current, permitted plan uses <14% of defined resource (10 BT)
Options being Studied (2030+)
− Opportunity for expansions and life extensions
− Expanded tailings location identified with advanced studies in progress • Resource expansion in multiple pushbacks
− Various options for extensions (mine and tailings), and concentrator • Expanded tailings facility
expansions are being considered • Addition of 1 or 2 SAG lines and associated
− Studies underway to determine staged development sequence infrastructure
o Focus on the most capital efficient and value-adding options based • Coarse particle flotation
on QB operating performance
− Capital investment dependent on improvements
− Potential for >500 ktpa of copper production
• EIA permit will be developed to support expansion and extension plans
Expansion and Extension Studies Expansion and Extension Construction and Continued Studies
2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035
8
VALUE-DRIVEN
GROWTH
QB’S RESERVES AND RESOURCES INCREASED TO ~10 BT

Additional potential remains; district is prospective for Cu-Mo porphyry deposits
QB’s Historical Reserves and Resources and Grade Mineral Reserve and Resource Statement1
Resources (Mt) Reserves (Mt) Resources (CuT) Reserves (CuT)
Tonnes Grade Contained Metal
Category
12,000 0.60% Mt Cu (%) Mo (%) Ag (g/t) Cu (kt) Mo (kt) Ag (koz)
Reserves
10,000 0.50%
Proven 1,081.6 0.53 0.020 1.4 5,746 216 48,254
Probable 335.3 0.50 0.023 1.2 1,675 77 13,329

8,000 0.40%
Total P&P 1,417 0.52 0.021 1.4 7,421 293 61,583
Resources
6,000 0.30%
Measured 954.3 0.37 0.013 1.0 3,497 128 32,180
4,000 0.20% Indicated 3,412.9 0.36 0.018 1.1 12,435 614 123,698
Total M&I 4,367 0.36 0.017 1.1 15,932 742 155,877

2,000 0.10%
Inferred 4,259.7 0.34 0.015 1.1 14,438 643 148,885
0 0.00%
9
ZAFRANAL
View to the east-northeast along the axis of the main Zafranal mineral zone
10
VALUE-DRIVEN
GROWTH
ZAFRANAL PROJECT OVERVIEW

Mid-sized copper-gold asset with robust economics and permit in place
Long Life Asset in Peru

• 19-year mine life with mine life extension opportunities through pit
expansion and district resource development
Quality Investment
• Attractive front-end grade profile for rapid payback
• Mid cost curve forecast LOM C1 cash costs
• Competitive capital intensity
Mining Jurisdiction
• Strong support from Peruvian regulators
• Engaged with all communities
• Building on >10 years of positive stakeholder engagement
Teck Ownership Partner Area Project
80% interest in
Mitsubishi Materials Arequipa,
Compañía Minera Cu-Au porphyry
Corporation (20%) Southern Peru
Zafranal (CMZ)
11
VALUE-DRIVEN
GROWTH
ZAFRANAL SITE LAYOUT

Good access to well-developed infrastructure at moderate altitude
View to West • Mine: Copper-gold porphyry
open pit mine in Zafranal and
Victoria zones
• Mill: Nominal 65ktpd capacity
mill, concentrator and plant
facilities; conveyor tunnel
Water 3.5km from mine
Port
• Sustainable Water Source:
Mill + Mine Majes El Pedregal brackish
TMF aquifer wellfield (50km from
mine), powered by 66kV power
line
Substation • Power: 96km, 220kV power line

from substation near Arequipa
220kV Power Line to Zafranal site
• Port: Port of Matarani, which
20km services major base metal
Existing roads mines in the region
Mine Power line Port Tailings facility
Main access road & water pipeline
Planned power line Mill Water pipeline Substation
12
VALUE-DRIVEN
GROWTH
RESERVES AND RESOURCES AT ZAFRANAL

Strong ore body knowledge to deliver on business plan
Geological Cross-Section Mineral Reserve and Resource Statement1
Zafranal Main Zone – Central Long Section
A 150m wide section, looking 357 deg (North) A’ Tonnes Grade Contained Metal
195
Leached/Oxide/Mixed Category
Mt Cu (%) Au (g/t) Cu (kt) Au (koz)
Reserves
Proven 408.8 0.39 0.07 1,587 939
Probable 32.0 0.21 0.05 68 47
Total P&P 440.7 0.38 0.07 1,655 986
Resources
Measured 5.1 0.19 0.04 10 6
Indicated 2.3 0.21 0.05 5 4
Total M&I 7.4 0.20 0.04 15 10
Cu% Zafranal Main Zone Plan Map Inferred 62.8 0.24 0.10 150 212
195
28m @ 0.60% Cu,

0.17g/t Au from 304m
Selected Production Metrics
Y1 Y2 Y3 Y4 Y5 5Yrs Avg. LOM Avg.
12m @ 0.69% Cu, 500m
0.19g/t Au from 410m Cu Grade (%) 0.71 0.89 0.55 0.55 0.42 0.58 0.36
13
VALUE-DRIVEN
GROWTH
ZAFRANAL PATH TO VALUE REALIZATION

Near-term growth option with major permit in place
Sanction Requirements Recent Progress Upcoming Milestones

• Advance detailed engineering to • SEIA approved in May 2023
50% completion
• Detailed engineering
• Develop detailed project commenced in H2 2024
execution plan Following receipt of
• Design and construction construction permits and
• Submit and obtain approval of planning for advanced works detailed engineering, the
key permits, including the construction project could be ready for a
Beneficiation Concession sanction decision in H2 2025
• Strong support from Peruvian
• Secure land acquisition regulators and ongoing
engagement with local
communities
Illustrative Timeline1
Engineering and Permitting Early Works / Construction Production
2024 2025 2026 2027 2028 2029
Target Target First

Sanction Window Production Window
14
VALUE-DRIVEN
GROWTH
ZAFRANAL PROJECT HIGHLIGHTS

Advanced high-quality, copper-gold growth project
• Rapid project payback expected due to the Illustrative Economic Inputs (100% basis)1
front-end high-grade profile Head Grade Production
Ore Milled (First 5 Years Avg2) (First 5 Years Avg2)
• Forecast second quartile C1 cash costs over

(First 5 Years Avg2)
0.58 % Cu 126 ktpa Cu
70 ktpd
0.09 g/t Au 42 koz Au
the first 5-years enabling strong cash returns
• Clean copper-gold concentrate with Cost Curve (US$/lb Cu payable)3

substantial gold value over the life of mine
$4.00 First 5 years2 LOM
C1 cash cost C1 cash cost
• Scarce, high-quality copper growth project (net of by-product credits)* (net of by-product credits)*
$3.00 2nd quartile 3rd quartile
that is expected to provide near-term exposure
to significant copper-gold production $2.00
$1.00
• Teck's share of funding estimated at
US$1.5-1.8B4 (80%) $0.00
1st Quartile 2nd Quartile 3rd Quartile 4th Quartile
($1.00)
* C1 cash cost net of by-product credits is net cash unit costs per pound, which is a non-GAAP ratio. See “Non-GAAP Financial Measures and Ratios” slide. 15
SAN NICOLÁS
16
VALUE-DRIVEN
GROWTH
SAN NICOLÁS PROJECT OVERVIEW

Unique and high-quality mid-sized base metal development asset
with high average copper-zinc grades and low capital intensity
Long Life Asset in Mexico
• Initial 15-year mine plan with multiple targets for mine life extension
• Excellent access and logistics for construction and operations
Quality Investment
• LOM C1 cash costs in the 1st quartile
• Highly competitive capital intensity
• Co-product Zn and by-product Au and Ag credits
Mining Jurisdiction
• Well-established mining district in Mexico
• Community engagement well established and positive
Joint Venture
Teck Ownership Area Project
Partner
50% Agnico Eagle (AEM) (50%) Zacatecas, Mexico Cu-Zn, Ag-Au VHMS
17
VALUE-DRIVEN
GROWTH
SAN NICOLÁS - COMPACT SITE LAYOUT

At moderate elevation in an established mining region; adjacent to infrastructure
General Site Layout and Access
• Mine: Conventional
open-pit mine and
concentrator operation;
strip ratio of 6:1
(waste:ore)
• Mill: Nominal 20ktpd1
~ El 2,110 m ~ El 2,234 m plant producing copper
and zinc concentrate
• Water: Water sourced
from pit dewatering
• Power: Evaluating
power supply options
• Community: Strong
support from
communities
1 Km
18
VALUE-DRIVEN
GROWTH
RESERVES AND RESOURCES AT SAN NICOLÁS
Well Defined Orebody Mineral Reserve and Resource Statement1
NW Tonnes Grade Contained Metal

Category
Mt Cu (%) Zn (%) Cu (kt) Zn (kt)
Reserves
Proven 47.7 1.26 1.6 600 767
Probable 57.5 1.01 1.4 583 788
Total P&P 105.2 1.12 1.5 1,183 1,555
Resources
2020 Measured 0.5 1.35 0.4 7 2

Measured Reserves Pit
Indicated 6.1 1.17 0.7 71 43
Indicated
Inferred Total M&I 6.6 1.18 0.7 78 45
250 m
Inferred 4.9 0.94 0.6 46 31
19
VALUE-DRIVEN
GROWTH
SAN NICOLÁS PATH TO VALUE REALIZATION
Sanction Requirements Recent Progress Upcoming Milestones

• Robust business case and • MIA-R Permit submitted in
Feasibility Study complete January 2024 and ETJ Permit
submitted in June 2024
• Major permits received
• Priority land acquisition
• Government and community
completed
support Potential to sanction in H2 2025
• Feasibility Study and execution
strategy progressing with
expected completion in H1 2025
Illustrative Timeline1
Engineering and Permitting Early Works / Construction Production
2024 2025 2026 2027 2028 2029 2030
EIA ETJ Target Target First

Submitted Submitted Sanction Window Production Window
20
VALUE-DRIVEN
GROWTH
ATTRACTIVE PROJECT RETURNS FROM SAN NICOLÁS

Attributable to the high-grade mineralization
• Forecast first quartile life of mine C1 cash costs, Prefeasibility Study Summary (US$, 100% basis)1
allowing for strong margin generation
Production
− Significant by-product credits, with co-product Zn Ore Milled Head Grade (First 5 Years Avg2)
(First 5 Years Avg2) (First 5 Years Avg2)
63 ktpa Cu
and by-product Au and Ag 20 ktpd 1.07% Cu
147 ktpa Zn
• High zinc production in the first five years

• Excellent project returns attributable to the Estimated Prefeasibility Study Production Profile1
high-grade mineralization Cu Contained in CCTs (kt) CuEq Contained in CCTs (kt)
• Agnico-Eagle funds initial US$580M through an

earn-in then 50-50 funding 175
150
• Teck's share of funding estimated at US$300-500M3
125
(50%, post AEM contribution)
100
• The partners’ complementary skillsets and funding 75
capabilities are expected to ensure timely and 50
successful development; JV reduces Teck’s near-term 25
funding and enhances returns -
2028
2027 2029
2028 2030
2029 2031
2030 2032 2032
2031 2033 2033
2034 2034
2035 2035
2036 2036
2037 2037
2038 2038
2039 2039
2040 2040
2041 2041
2042
21
WRAP UP
22
VALUE-DRIVEN
GROWTH
NEAR-TERM COPPER GROWTH PROJECTS

Disciplined execution focusing on financial returns; sanction as early as H2 2025
• Near-term growth projects will compete for Illustrative Timelines1

capital to drive strong returns, following
Teck’s disciplined capital allocation Engineering and Permitting Early Works / Construction Production
framework 2024 2025 2026 2027 2028 2029 2030
• Focus will be on balancing project execution

risks with permitting timeline and financial QB Optimization
capacity & Debottlenecking
Optimization Staged Debottlenecking
• Investment criteria: Improvements
‒ Strong financial returns

‒ Balance sheet capacity/financing options Zafranal
‒ Project readiness
Target Target First
‒ Social, political, and environmental Sanction Window Production Window
context and certainty
San Nicolás
EIA Target Target First
Submitted Sanction Window Production Window
23
APPENDIX
24
ENDNOTES
SLIDE 6: QB DEBOTTLENECKING FURTHER INCREASES THROUGHPUT

1. Indicative range of growth capital shown for QB optimization and debottlenecking, shown in nominal 2024 dollars.
SLIDE 9: QB’S RESERVES AND RESOURCES INCREASED TO ~10 BT
1. Source: Teck Annual Information Form, February 22, 2024.
SLIDE 13: RESERVES AND RESOURCES AT ZAFRANAL
SLIDE 14: ZAFRANAL PATH TO VALUE REALIZATION
1. All calendar dates and timelines are preliminary potential estimates.
SLIDE 15: ZAFRANAL PROJECT HIGHLIGHTS
1. The initial capex estimate range is currently being finalized as part of the feasibility study update. Ore milled, head grade and
production are also part of the 2023 feasibility study update.
2. First five full years of production.
3. Consensus pricing as at October 2024. Long-term US$4.48/lb Cu and US$1.24/lb Zn.
4. Zafranal growth capital estimate from July 2024 updated feasibility study (bridging phase) shown in nominal 2024 dollars, does not
include escalation, inflation, or further engineering assumptions.
SLIDE 18: SAN NICOLÁS - COMPACT SITE LAYOUT
1. Based on 2021 pre-feasibility study.
SLIDE 19: RESERVES AND RESOURCES AT SAN NICOLÁS
SLIDE 20: SAN NICOLÁS PATH TO VALUE REALIZATION
1. The target sanction and production windows could vary based on the timing of the receipt of the regulatory approval process
SLIDE 21: ATTRACTIVE PROJECT RETURNS FROM SAN NICOLÁS
1. Financial summary based on at-sanction economic assessment using: US$3.60/lb Cu, US$1.20/lb Zn, US$1,550/oz Au and
US$20/oz Ag. Go-forward costs of studies, detailed engineering, permitting and project set-up costs not included. All calendar
dates and timelines are preliminary potential estimates. Based on the Prefeasibility Study completed in May 2016 and the updated
development capital estimate included in Teck’s September 16, 2022 news release.
2. First five full years of production.
3. Teck’s estimated funding share for San Nicolás is US$0.3-0.5 billion.
SLIDE 23: NEAR-TERM COPPER GROWTH PROJECTS
1. All calendar dates and timelines are preliminary potential estimates.
25
NON-GAAP
AND RATIOS
NON-GAAP RATIOS
Net cash unit costs per pound (C1 cash unit costs per pound) – Net cash unit costs of principal product, after deducting co-product and by-
product margins, are also a common industry measure. By deducting the co- and by-product margin per unit of the principal product, the margin
for the mine on a per unit basis may be presented in a single metric for comparison to other operations.
26
EXECUTING
NEAR-TERM
PROJECTS
November 5, 2024
Karla Mills
Executive Vice President and
Chief Project Development Officer
ADVANCEMENT OF
PROJECT
DELIVERY
2
VALUE-DRIVEN
GROWTH
ENHANCED APPROACH TO PROJECT DELIVERY
1 2 3 4
Governance Study Execution, Control People
& Assurance Development & Risk Management & Culture
Clarifying accountabilities Consistently applying our early Improved management of Creating a culture of
study development structure performance through collaboration and accountability
real time analytics
Rigorous application of Analyzing optionality and Continuous application of risk Expanding team with subject
stage-gate approach key trade-offs prior to management processes matter expertise
advancing projects
Assurance reviews focused Ensuring a multi-functional Embed rigorous capital Enhance owner’s mindset
on ensuring project discipline collaborative approach discipline framework of projects team
and rigor
3
VALUE-DRIVEN
GROWTH
GOVERNANCE AND ASSURANCE

1
Rigorous
Earlier definitionprocess with
of the right stage-gated
project, approach
and successful provides project discipline
implementation
Selecting & Getting to the Right Project Implementing the Right Way
Regulatory
Pre-Scoping Scoping Pre-Feasibility Feasibility Execution Operation
Approvals
Executed in parallel
Identify Opportunity Select best Achieve major Evolve design, Disciplined Predictable
business development study options approvals plan for management & ramp-up to
Objective & Stage Gate Decision
opportunity Assessing all Optionality License to execution execution operations
Cash Flow from Operations

Assumptions, execution reduction, operate Define control Ensure Commission
constraints, options business case baseline operational design capacity
endorsement selection readiness
4
VALUE-DRIVEN
GROWTH
2 STUDY DEVELOPMENT
Applying our systematic approach to
selecting the “right project” Delivery
with the greatest value proposition
• Foundation of rigorous early-stage
Optimize
studies Scope
• Focus on staged analysis of optionality:
Compare with
− Understanding the asset and
Benchmarks
developing the optimization plan EXIT
− Applying study standards Off Ramp Analyze

available at Trade-Offs
− Deploying core study skills and
any stage
specialists
− Challenging assumptions through Establish Value
Proposition
trade-off studies, benchmarking,
technology and audits
Identify
Opportunity
5
VALUE-DRIVEN
GROWTH
3 EXECUTION, CONTROL AND RISK MANAGEMENT

Clear execution strategy ensuring alignment, allowing owners’ team
to focus on key drivers of cost and schedule
Early development of Real time data Opportunities for off-site Early identification of
execution strategies analytics fabrication and temporary risk, mitigation planning,
power generation and action tracking
6
VALUE-DRIVEN
GROWTH
4 PEOPLE AND CULTURE

Creating a culture of transparency, collaboration, and trust
Culture People Key Project Experience Locations
Empowerment with Direct experience in

accountability multiple jurisdictions
Strong sense of ownership Extensive experience in key

and an owners’ mindset regions for our growth
portfolio
Leadership Model Focus on Success

Functional model to mobilize Drive success - not only for
right people into right roles our projects but also for our
on the right projects people
Clear understanding of how

each individual contributes
to our growth strategy
7
EXECUTION OF
NEAR-TERM
PROJECTS
8
VALUE-DRIVEN
UNLOCKING VALUE GROWTH
QB OPTIMIZATION AND DEBOTTLENECKING

Disciplined and stage-gated approach to value creation
1 2
Governance & Assurance Study Development
Transparency in application of Focused on identifying least-cost,

governance and assurance process staged investment opportunities and
avoidance of regret capital
Structured assurance process Rigorous trade-off studies focused

including steering committees and on identification of risks and
sponsors meetings corresponding mitigations
3 Execution, Control 4
People & Culture
& Risk Management
Management of risk profile Functional SMEs supporting project

throughout execution set up and execution
Use of real-time analytics for Fostering an’ owners’ mindset focused

forecasting and management of on value creation and managing
investment case investments, not just projects
9
VALUE-DRIVEN
HIGHLAND VALLEY MINE LIFE EXTENSION

Integrated execution strategy with key performance indices
1 2
Transparency in application of Strong focus on community

governance and assurance process engagement
Structured assurance process Value improvement opportunities to

including steering committees and deliver on the project economics
sponsors meetings
People & Culture
& Risk Management
Embedded digital systems and Reliance on close collaboration of

structure Key Performance Indices the operational asset leadership and
project leadership
Tier 1 service provider with extended Strong culture of collaboration and

history in delivering major capital continuous improvement
enhancements at HVC
[Write text here on it]

10
VALUE-DRIVEN
ZAFRANAL
Mobilized an existing team aligned with Teck’s culture to lead project
1 2
Transparency in application of Advancing engineering design to 50%

governance and assurance process prior to project sanction
Structured assurance process Embedding permitting requirements

including steering committees and and timing in project planning
sponsors meetings
People & Culture
& Risk Management
Execution strategy aligned with that Deployment of high-performing team

used successfully to develop similar with strong connections to functional
projects in jurisdiction SMEs
Embedded digital systems and Recruitment and training of local

structured KPIs for continuous technical professionals with
monitoring and real time management experience in similar projects
11
VALUE-DRIVEN
SAN NICOLÁS
Leveraging complementary capabilities with our partner
1 2
Creation of joint venture partnership Completion of trade-off and value

leveraging successful project improvement studies and benchmarking
experience in Mexico to optimize project economics
Structured assurance process Early definition of project and

including steering committees and regional risks
sponsors meetings
People & Culture
& Risk Management
Execution strategy aligned with that Engagement of local talent

used to successfully develop similar experienced with successfully
projects in jurisdiction executing projects in Mexico
Close collaboration with local Consistent engagement of functional

communities, authorities and SMEs
regulatory agencies
12
VALUE-DRIVEN
GROWTH
ENHANCED APPROACH TO PROJECT DELIVERY

Commitment to reliability, predictability and transparency
1 2 3 4
Governance Study Execution, Control People
& Assurance Development & Risk Management & Culture
Well positioned for execution of near-term projects and value delivery
13
RESILIENCE
November 5, 2024
Crystal Prystai
EVP and Chief Financial Officer
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
Both these slides and the accompanying oral presentation contain certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to as forward-looking statements). These statements relate to future events or our
future performance. All statements other than statements of historical fact are forward-looking statements. The use of any of the words “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “should”, “believe” and similar expressions are
intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These statements speak only as
of the date of this presentation.
These forward-looking statements include, but are not limited to, statements concerning: our strategy and priorities; all statements relating to illustrative EBITDA or illustrative operating cash flow; statements regarding Teck’s capital allocation framework and the expected use of
proceeds from the sale of our steelmaking coal business, including statements regarding potential returns to shareholders, potential cash flows and allocation of funds; statements relating to expected increases in copper production and all other statements that are not historic facts.
Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this presentation. Such statements are based on a number of assumptions that may prove to be incorrect, including, but not
limited to, assumptions regarding: general business and economic conditions; commodity and power prices; the supply and demand for, and the level and volatility of prices of, copper, zinc and our other metals and minerals as well as inputs required for our operations; the timing of
receipt of permits and other regulatory and governmental approvals for our development projects and operations, including mine extensions; our costs of production, and our production and productivity levels, as well as those of our competitors; availability of water and power
resources for our projects and operations; credit market conditions and conditions in financial markets generally; our ability to procure equipment and operating supplies and services in sufficient quantities on a timely basis; the availability of qualified employees and contractors for
our operations and our projects and our ability to attract and retain such employees; the satisfactory negotiation of collective agreements with unionized employees; the impact of changes in Canadian-U.S. dollar exchange rates, Canadian dollar-Chilean Peso exchange rates and other
foreign exchange rates on our costs and results; the accuracy of our mineral reserve and resource estimates (including with respect to size, grade and recoverability) and the geological, operational and price assumptions on which these are based; tax benefits and tax rates; our ongoing
relations with our employees and with our business and joint venture partners; assumptions concerning: the development, performance and effectiveness of technology needed to achieve our sustainability goals and priorities; the availability of clean energy sources and zero-
emissions alternatives for transportation on reasonable terms; our ability to implement new source control or mine design strategies on commercially reasonable terms without impacting production objectives; our ability to successfully implement our technology and innovation
strategy; costs of closure; environmental compliance costs generally; the impact of climate change and climate change initiatives on markets and operations; and the impact of geopolitical events on mining operations and global markets. Statements concerning future production
costs or volumes are based on numerous assumptions of management regarding operating matters and on assumptions that demand for products develops as anticipated; that customers and other counterparties perform their contractual obligations; that operating and capital plans
will not be disrupted by issues such as mechanical failure, unavailability of parts and supplies, labour disturbances, interruption in transportation or utilities, or adverse weather conditions; and that there are no material unanticipated variations in the cost of energy or supplies.
Inherent in forward-looking statements are risks and uncertainties beyond our ability to predict or control, including, without limitation: risks that are generally encountered in the permitting and development of mineral properties such as unusual or unexpected geological formations;
associated with unanticipated metallurgical difficulties; relating to delays associated with permit appeals or other regulatory processes, ground control problems, adverse weather conditions or process upsets and equipment malfunctions; risks associated with any damage to our
reputation; risks associated with volatility in financial and commodities markets and global uncertainty; risks associated with labour disturbances and availability of skilled labour; risks associated with fluctuations in the market prices of our principal commodities or of our principal
inputs; associated with changes to the tax and royalty regimes in which we operate; risks posed by fluctuations in exchange rates and interest rates, as well as general economic conditions and inflation; risks associated with climate change, environmental compliance, changes in
environmental legislation and regulation, and changes to our reclamation obligations; risks created through competition for mining properties; risks associated with lack of access to capital or to markets; risks associated with mineral reserve and resource estimates; risks associated
with changes to our credit ratings; risks associated with our material financing arrangements and our covenants thereunder; risks associated with procurement of goods and services for our business, projects and operations; risks associated with non-performance by contractual
counterparties; risks associated with potential disputes with partners and co-owners; risks associated with operations in foreign countries; risks associated with information technology; risks associated with tax reassessments and legal proceedings; and other risk factors detailed in
our Annual Information Form. Declaration and payment of dividends and capital allocation are the discretion of the Board, and our dividend policy and capital allocation framework will be reviewed regularly and may change. Dividends and share repurchases can be impacted by share
price volatility, negative changes to commodity prices, availability of funds to purchase shares, alternative uses for funds and compliance with regulatory requirements. Certain of our operations and projects are operated through joint arrangements where we may not have control over
all decisions, which may cause outcomes to differ from current expectations.
Teck cautions that the foregoing list of important factors and assumptions is not exhaustive. Other events or circumstances could cause our actual results to differ materially from those estimated or projected and expressed in, or implied by, our forward-looking statements. See also
the risks and assumptions discussed under “Risk Factors” in our most recent Annual Information Form and in subsequent filings, which can be found under our profile on SEDAR+ (www.sedarplus.ca) and on EDGAR (www.sec.gov). The forward-looking statements contained in these
slides and accompanying presentation describe Teck’s expectations at the date hereof and are subject to change after such date. Except as required by law, we undertake no obligation to update publicly or otherwise revise any forward-looking statements or the foregoing list of
assumptions, risks or other factors, whether as a result of new information, future events or otherwise.
1
OUR STRONG FINANCIAL POSITION UNDERPINS RESILIENCE
1 One of the strongest balance sheets in the sector
2 Strong EBITDA* and cash flow generation
3 Disciplined capital allocation
4 Significant shareholder returns and value-accretive growth
* EBITDA is a non-GAAP measure. See “Non-GAAP Financial Measures and Ratios” slide. 2
RESILIENCE
ONE OF THE STRONGEST BALANCE SHEETS IN THE SECTOR

1
Significant debt reductions and net cash position
Net Cash* Position Debt Reduction Debt Repayments (US$M)

As at September 30, 2024 YTD as at September 30, 2024
$1.8B $2.3B
294/year 177
253
188 195
147 147 167
Term Notes Outstanding Target Leverage Ratio 113
As at September 30, 2024 Net debt : AEBITDA*
US$1.1B 1.0x
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
QB Project Finance Term Notes
US$1.1B
* Net cash and net debt to adjusted EBITDA are non-GAAP ratios. See “Non-GAAP Financial Measures and Ratios” slide. 3
RESILIENCE
STRONG EBITDA* AND CASH FLOW GENERATION POTENTIAL

2
Value creation through the commodity cycle
Illustrative 2026 EBITDA* from Operations1 (C$B) Illustrative 2026 Operating Cash Flow1 (C$B)
Copper ex-QB QB Zinc Copper ex-QB QB Zinc
+10% +10%
Cu - $5.00/lb 3.3 2.6 0.9 6.8 Cu - $5.00/lb 2.2 2.5 0.7 5.3
Zn - $1.40/lb Zn - $1.40/lb
Consensus2 Consensus2
Cu - $4.55/lb 2.9 2.2 0.8 5.9 Cu - $4.55/lb 1.9 2.1 0.6 4.7
Zn - $1.28/lb Zn - $1.28/lb
-10% -10%
Cu - $4.10/lb 2.5 1.8 0.7 5.0 Cu - $4.10/lb
1.7 1.7 0.5 4.0
Zn - $1.15/lb Zn - $1.15/lb
RESILIENCE
FOCUS ON COST DISCIPLINE AND MARGIN OPTIMIZATION

2
Opportunities for margin and cost structure optimization
Operations
Cost discipline at operations, process to optimize cost base and asset productivity to reduce unit costs
Continued margin improvement through commercial excellence strategy
Realize procurement and supply chain optimization opportunities
Corporate
Optimize cost structure to deliver on value-creation strategy
5
VALUE-DRIVEN
GROWTH
CAPITAL ALLOCATION FRAMEWORK

RESILIENCE
3
Commitment to return 30-100% of available cash flow to shareholders*
Balancing value accretive growth with cash returns to shareholders and a strong balance sheet
Cash Flow Sustaining Base Supplemental

from Operations Capital Dividend Shareholder
after interest and finance including C$0.50 per Distributions
charges, lease payments and stripping share
distributions to non-controlling
minimum 30%
available cash flow1
RETURNS
interests
Balance for growth

and cash returns
to shareholders
Committed Capital Share Buybacks

Growth Capital Structure additional buybacks will
GROWTH
be considered regularly
* Our capital allocation framework describes how we allocate funds to sustaining and growth capital, maintaining solid investment grade credit metrics and returning excess cash to shareholders. This framework reflects our intention to make additional
returns to shareholders by supplementing our base dividend with at least an additional 30% of available cash flow after certain other repayments and expenditures have been made. For this purpose, we define available cash flow (ACF) as cash flow
from operating activities after interest and finance charges, lease payments and distributions to non-controlling interests less: (i) sustaining capital and capitalized stripping; (ii) committed growth capital; (iii) any cash required to adjust the capital
structure to maintain solid investment grade credit metrics; (iv) our base $0.50 per share annual dividend; and (v) any share repurchases executed under our annual buyback authorization. Proceeds from any asset sales may also be used to
supplement available cash flow. Any additional cash returns will be made through share repurchases and/or supplemental dividends depending on market conditions at the relevant time. 6
RESILIENCE
STRONG TRACK RECORD OF SHAREHOLDER RETURNS

4
Significant authorized returns, with $2.3B remaining, improving per-share value
Historical Shareholder Returns ($M) Additional Shareholder Returns
$5.3B returned to shareholders since 20191

$2.3B remaining
from authorized share
buyback program
1,392
928 &
30-100% of annual
250
661
532 515
207 451
future available cash flow3
111 106 106
2
2019 2020 2021 2022 2023 2024 YTD
Dividends Share Buybacks
7
VALUE DRIVEN
GROWTH
NEAR-TERM GROWTH DRIVES VALUE CREATION

4
Well funded growth projects and strong earnings potential
Well funded, low stay-in-business capex required Significant EBITDA* growth expected before the end of the decade
Illustrative EBITDA* from growth projects($B)2

Annual Sustaining Capital and Capitalized
Stripping from existing operations: San Nicolás
(50%)
$1.0-1.2B QB Optimization Zafranal

and
Current Teck Debottlenecking
Operations
Annual Growth Capital to advance
Copper Growth pipeline:
$0.4-0.6B >7.5
5.9
Total near-term growth capital
(attributable):
US$3.2-3.9B1
Well-funded growth to potentially drive >$7.5B of annual EBITDA* before the end of the decade
VALUE-DRIVEN
GROWTH
ILLUSTRATIVE ACCRETIVE GROWTH ON PER-SHARE METRICS

Compound impact of copper growth and authorized share buybacks
Stabilized QB and
Share Buyback Program
+40-45%
QB Ramp Up
+45-55%
2023 2024 2026 Long-Term

Copper Production
(kt Cu)
296 420-455 550-620 800+
Shares Outstanding1
(M Shares)
517 ~510 ~475 <475
Annual Copper Production/Share
(lb Cu)
1.3 ~1.8-2.0 ~2.5-2.9 >3.7
9
RESILIENCE
OUR STRONG FINANCIAL POSITION UNDERPINS RESILIENCE
Net Cash* Position

As at September 30, 2024
1 One of the strongest balance sheets in the sector $1.8B

Shareholder Returns
2 Strong EBITDA* and cash flow generation 2019-2024 YTD
$5.3B
3 Disciplined capital allocation
Remaining Authorized
Share Buyback
As at October 31, 2024
4 Significant shareholder returns and value-accretive growth
$2.3B
11
* EBITDA and net cash are non-GAAP financial measures and ratios. See “Non-GAAP Financial Measures and Ratios” slide. 10
APPENDIX
ENDNOTES
SLIDE 4: STRONG EBITDA AND CASH FLOW GENERATION POTENTIAL

1. Illustrative 2026 EBITDA generated from our operations and operating cash flow potential calculated using midpoint of Teck’s
current 2026 production guidance and consensus copper, QB, and zinc net cash unit costs from 17 analyst models as of August
2024.
2. Consensus 2026 copper and zinc commodity pricing from 19 analyst models as of August 2024.
SLIDE 7: STRONG TRACK RECORD OF SHAREHOLDER RETURNS
3. Shareholder returns include dividends and share buybacks from January 1, 2019 to October 31, 2024.
4. 2024 YTD shareholder returns shown as of October 31, 2024. Implied remaining authorized share buyback program amount as of
October 31, 2024.
5. Available cash flow (ACF) is defined as cash flow from operating activities after interest and finance charges, lease payments and
distributions to non-controlling interests less: (i) sustaining capital and capitalized stripping; (ii) committed growth capital; (iii) any
cash required to adjust the capital structure to maintain solid investment grade credit metrics; (iv) our base $0.50 per
share annual dividend; and (v) any share repurchases executed under our annual buyback authorization. Proceeds from any asset
sales may also be used to supplement available cash flow.
SLIDE 8: NEAR-TERM GROWTH DRIVES VALUE CREATION
1. Includes the Highland Valley Mine Life Extension latest trend growth capital estimate from September 2024 but does not include
further inflation or engineering assumptions. USD project capital shown converted at FX rate of 1.39. Includes Zafranal growth
capital estimate from July 2024 updated feasibility study (bridging phase) shown in nominal 2024 dollars, does not include
escalation, inflation, or further engineering assumptions. Teck’s estimated funding share for San Nicolás is US$0.3-0.5 billion.
Includes indicative range of growth capital shown for QB optimization and debottlenecking, shown in nominal 2024 dollars.
2. Illustrative 2026 EBITDA shown generated from our operations calculated using midpoint of Teck’s current 2026 production
guidance and consensus net cash unit costs from 17 analyst model as of August 2026. Illustrative EBITDA generation from San
Nicolás project shown at Teck’s 50% share, Zafranal and QB debottlenecking shown fully consolidated at 100%. Commodity price
assumptions used were US$4.55/lb copper and US$1.28/lb zinc.
SLIDE 9: ILLUSTRATIVE ACCRETIVE GROWTH ON PER-SHARE METRICS
1. Illustrative calculation showing shares outstanding at the end of the period for December 31, 2023. Shares outstanding at the end
of December 31, 2024 illustrate buybacks of $928M YTD through October 31, 2024. 2026 share count shown pro-forma
completion of the remaining C$2.3B authorized share buyback program at October 31, 2024 closing share price of $64.79/sh.
2024 and 2026 production reflective of our current copper production guidance.
12
NON-GAAP
AND RATIOS
NON-GAAP RATIOS
Net debt (cash) – Net debt (cash) is total debt, less cash and cash equivalents.
Net debt to adjusted EBITDA – Net debt to adjusted EBITDA ratio is net debt divided by adjusted EBITDA for the 12 months ended at the reporting
period, expressed as the number of times adjusted EBITDA needs to be earned to repay the net debt.
13
STRATEGY
DAY
November 5, 2024

Teck 2024 Strategy Day

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Our strategy is focused around four pillars:

METALS FOR THE VALUE-DRIVEN

STRONG OUTLOOK FOR ENERGY TRANSITION METALS

Growth in the Digital Economy

DELIVERING THE STRATEGY TO UNLOCK GROWTH

Base Metals Base Metals

FOUNDATION OF WORLD-CLASS OPERATIONS

World-Class Copper Operations Integrated Zinc Operations

Top 10 copper producer 70% of EBITDA*,1 Largest net zinc miner

EXCELLENCE IN OPERATIONS AND SUSTAINABILITY RESILIENCE

Foundation for reliable value creation

Core Excellence Sustainability

Processes and systems to underpin Unlocking new opportunities

Value-Accretive Near-Term Copper Projects

~8001 ktpa Quebrada Blanca Optimization & Debottlenecking

Low capital intensity with rapid payback expected

DISCIPLINED CAPITAL ALLOCATION FRAMEWORK RESILIENCE

Commitment to return 30-100% of available cash flow to shareholders*

Cash Flow Sustaining Base Supplemental

Balance for growth

Committed Capital Share Buybacks

ONE OF THE STRONGEST BALANCE SHEETS IN THE SECTOR

Strong Balance Conservative Debt Repayments1 (US$M)

Debt repaid YTD at September 2024: Term notes outstanding:

STRONG TRACK RECORD OF SHAREHOLDER RETURNS

Historical Shareholder Returns ($M) Additional Shareholder Returns

$5.3B returned to shareholders since 20191

Dividends Share Buybacks

TECK RE-RATING TO TRADE IN LINE WITH COPPER PEERS

January 10, 2023 Undisturbed EV/NTM EBITDA Multiples2

7.6x 7.9x 8.0x

5.3x 5.5x 5.9x

1 High-quality assets, including three Tier 1 assets, in well-established mining jurisdictions

4 Industry-leading balance sheet and a net cash position

Senior leadership team presenting today

SLIDE 4: DELIVERING THE STRATEGY TO UNLOCK VALUE

WORLD CLASS PORTFOLIO WITH TIER 1 ASSETS

Operating Assets Development Assets

Increase uptime through reducing

Commitment to share learnings Management Operating System Mine fleet productivity

1 SAFETY DEFINES HOW WE OPERATE

Our Approach to Safety Improving our safety performance

Implementation Continuous 0.92

2 LEADERSHIP DRIVES PERFORMANCE

Latin America North America

Copper Producing Copper Producing

Technical and Planning

Sustainability – Communities, Environment, Government Relations Development Projects Development Projects

MANAGEMENT OPERATING SYSTEM

• People centered approach to standardize ways of working

Standardized daily/weekly routines To achieve

MOS DRIVING IMPROVEMENTS AT RED DOG

Asset Utilization1 Throughput1 Key Benefits

2 Improved Recovery - Enhanced process

3 Reduced Reactive Work - Focus on

2023 2024 2023 2024

3 IMPROVING COST STRUCTURE AND PRODUCTIVITY

Operating Cost Focus

• Procurement contracts and supply chain efficiencies