Teck Resources Limited Class A · TSX:TECK.A
Teck Resources Limited Class A — Corporate Update (October 2025)
20 slides from Teck Resources Limited Class A's corporate update, Oct 8, 2025
Slide 1: Update on Comprehensive Operational Review and Outlook
UPDATE ON COMPREHENSIVE OPERATIONAL REVIEW AND OUTLOOK October 8, 2025
Slide 2: Caution Regarding Forward-Looking Statements
CAUTION REGARDING FORWARD-LOOKING STATEMENTS Both these slides and the accompanying oral presentation contains certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to as forward-looking statements). These statements relate
Slide 3: Comprehensive Operational Review Completed
COMPREHENSIVE OPERATIONAL REVIEW COMPLETED Detailed assessment of operating plans, with external experts Enhanced Planning Governance Monitoring & Guidance • Completed detailed assessment • Direct oversight of operations by • Enhanced monitoring and of all operating plans CEO - SVPs of Operations fo
Slide 4: QB Action Plan
QB ACTION PLAN Dale Webb Senior Vice President, Operations, Latin America
Slide 5: 2025 QB Production Performance
2025 QB PRODUCTION PERFORMANCE Production constrained by pace of TMF development 2025A1 Mill Availability and Throughput Recoveries Impacted by TMF 92% Design Availability2 development – lower plant operational run time 85% 84% 83% TMF Constraint 83% 82% 82% 77% 87% 70% Mill Availability Actual Util
Slide 6: QB Tailings Management Facility
QB TAILINGS MANAGEMENT FACILITY Sand drainage solution and mechanical raising of dam wall underway TMF Development 1 Sand dam construction and paddock re-design 2 2 Upstream beaching 3 3 Crest growth and rock bench construction 1 4 Installation of new cyclone technologies 6
Slide 7: QB Tailings Management Facility Construction Photos
QB TAILINGS MANAGEMENT FACILITY CONSTRUCTION PHOTOS Initiatives underway to mechanically raise dam wall and improve sand drainage 1 Paddock re-design and sand dam construction 2 Upstream beaching 7
Slide 8: QB Tailings Management Facility Construction Photos
QB TAILINGS MANAGEMENT FACILITY CONSTRUCTION PHOTOS Initiatives underway to mechanically raise dam wall and improve sand drainage New cyclone 4 Rock bench technologies to be 3 construction implemented 8
Slide 9: Advancing TMF Development Plans
ADVANCING TMF DEVELOPMENT PLANS Near-term and 2026 TMF development objectives in focus Near-term Objective Status Expected Completion Initial upstream beaching Complete Q3 2025 (remains an ongoing work stream) 2025 program: Q4 2025 Mechanical rock bench construction In progress 2026 program: Q1 2026
Slide 10: Guidance Outlook
GUIDANCE OUTLOOK Jonathan Price President and Chief Executive Officer
Slide 11: Context to Our 2026 QB Guidance
CONTEXT TO OUR 2026 QB GUIDANCE Factoring in additional TMF development and conservative recoveries 1 Low End of Guidance 2026 Production (kt, contained copper) • 80% mill availability, including additional downtime for TMF development 3 • Partially constrained throughput of 115ktpd (82% of design1)
Slide 12: Context to Our 2027-2028 QB Guidance
CONTEXT TO OUR 2027-2028 QB GUIDANCE Throughput levels no longer constrained by TMF development 2027 Production 2028 Production QB debottlenecking could QB optimization phase-in drives Grades: Decrease to 2028 Grades: 2027 head grade increase throughput to increase in mill throughput head grade assu
Slide 13: HVC and Red Dog
HVC AND RED DOG Change in guidance driven by enhanced planning HVC Production Guidance (kt, contained copper) Red Dog Production Guidance (kt, contained zinc) Higher end 430-470 of guidance 410-460 135-150 130-150 135-155 120-140 375-415 120-130 115-135 365-400 100-120 90-110 330-370 290-320 230-270
Slide 14: QB – A World Class Tier 1 Asset
QB – A WORLD CLASS TIER 1 ASSET Will support future value creation with potential for QB / Collahuasi adjacencies Illustrative Long-Term Production (kt, contained copper) QB Optimization and debottlenecking offers potential for capital- QB targeting design rates longer-term efficient, near-term thro
Slide 15: Defined and Measurable Path Forward
DEFINED AND MEASURABLE PATH FORWARD Comprehensive Operational Review completed – reasonable & achievable plans based on demonstrated performance Outlook revised – more conservative assumptions embedded into guidance Focus on execution – direct CEO and Board oversight of operational execution TMF Dev
Slide 16: Appendix
Teck APPENDIX
Slide 17: Updated Guidance
UPDATED GUIDANCE Based on comprehensive operational review Production1 2025 2025 2025 2026 2026 2026 2027 2027 2027 2028 2028 2028 Previous Change Revised Previous Change Revised Previous Change Revised Previous Change Revised Copper2 (000’s tonnes) Quebrada Blanca 210 -230 (40-40) 170-190 280-310 (
Slide 18: Endnotes
ENDNOTES SLIDE 5: 2025 QB Production Performance 1. 2025 actual mill availability and utilization at QB Operations, through to September 30, 2025. 2. Design availability of 92% reflected in design throughput of 140ktpd. SLIDE 11: Context to Our 2026 QB Guidance 1. Design throughput indicated at 140k
Slide 19: Non-GAAP Financial Measures and Ratios
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 n
Slide 20: Update on Comprehensive Operational Review and Outlook
UPDATE ON COMPREHENSIVE OPERATIONAL REVIEW AND OUTLOOK October 8, 2025