Teck Resources Limited Class A · TSX:TECK.A
Teck Resources Limited Class A — Global Metals, Mining & Critical Minerals Conference 2026
16 slides from Teck Resources Limited Class A's conference presentation, Feb 23, 2026
Slide 1: Global Metals, Mining & Critical Minerals Conference
GLOBAL METALS, MINING & CRITICAL MINERALS CONFERENCE February 23, 2026 Jonathan Price President and Chief Executive Officer
Slide 2: Caution Regarding Forward-Looking Statements
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
Slide 3: 2025 Highlights
2025 HIGHLIGHTS Creating a global leader in critical minerals Transformational merger of equals with Anglo American – to create a Top 5 copper producer Results in line with revised operational plans – no change to guidance 48% increase in adjusted EBITDA* to $4.8B - profit from continuing operations
Slide 4: Strongest Quarter of the Year at QB
STRONGEST QUARTER OF THE YEAR AT QB Q4 2025 performance supports delivery of 2026 guidance Mill Availability (%) Asset Utilization (%) 2026 Guidance High: 86.0% Low: 80.0% 97.8% 89.1% 93.4% 88.9% 82.9% 81.4% 64.8% 61.9% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Throughput (ktpd) Recovery (%) 2026 Guidance 2026 Guidan
Slide 5: Advancing QB TMF Development Plans
ADVANCING QB TMF DEVELOPMENT PLANS Allowing for progress towards steady state Q4 2025 Year End 2026 • Rock Bench 4 construction underway — • Completion of Rock Bench 4 and 5 completion targeted in Q1 2026 • Accelerate sand dam construction and move to • Completed installation of alternative cyclone
Slide 6: Unchanged Guidance for Teck-Operated Sites
UNCHANGED GUIDANCE FOR TECK-OPERATED SITES Copper Production1,2 (kt) Zinc Production1,4 (kt) Quebrada Blanca Highland Valley Antamina (22.5%) Carmen de Andacollo Zinc in Concentrate (kt) Refined Zinc (kt) Red Dog Antamina (22.5%) 95-105 505-580 260-300 260-300 455-530 45-55 435-510 565 454 230 430-4
Slide 7: Operating Cash Flow Outlook
OPERATING CASH FLOW OUTLOOK Strong operating cash flow conversion, particularly at QB Illustrative 2026 EBITDA* from Operations1 (C$B) Illustrative 2026 Operating Cash Flow1,2 (C$B) Copper price Copper ex-QB QB Zinc Copper price Copper ex-QB QB Zinc (US$/lb) (US$/lb) $6.00 3.5 2.6 0.8 $6.9B $6.00 2.
Slide 8: Robust Long-Term Copper Market Fundamentals
ROBUST LONG-TERM COPPER MARKET FUNDAMENTALS Quarterly copper prices >US$5.00/lb for the first time in Q4 2025 Strong copper prices1, (US$/lb) Long-term Copper Market Fundamentals 6.50 Q1 2026 QTD 6.00 $5.89/lb Global Economic Growth 5.50 Ongoing urbanisation and population growth, coupled with risin
Slide 9: Demand Growth and Constrained Supply Drive Deficits
DEMAND GROWTH AND CONSTRAINED SUPPLY DRIVE DEFICITS Potential for elevated pricing in a metal intensive future Long Term Demand Growth, Copper vs. Electricity1 Copper Demand from Green Energy2 (kt) 8,000 Electric Vehicles Offshore Wind 6,000 Grid 4,000 Onshore Wind Solar 2,000 - 2025 2026 2027 2028
Slide 10: Significant Transformation Since 2022
SIGNIFICANT TRANSFORMATION SINCE 2022 Strong delivery against our strategy Key Achievements Refocused portfolio on critical minerals Exited energy and steelmaking coal • Exited our interest in Fort • Completed QB • Sanctioned Highland Hills (oil sands) for value construction Valley Mine Life busines
Slide 11: Merger of Equals to Create a Leading Critical Minerals Champion
MERGER OF EQUALS TO CREATE A LEADING CRITICAL MINERALS CHAMPION A truly compelling combination – furthering complementary strategies and enhancing value creation Top 5 Significant Premier copper copper producer value creation growth portfolio • Unlocking US$800 million • High quality, low-cost asset
Slide 12: Merger of Equals Will Drive Significant Value
MERGER OF EQUALS WILL DRIVE SIGNIFICANT VALUE Strong EBITDA* growth from combined Anglo Teck Highly capital efficient incremental copper tonnes Anglo Teck Anglo Teck EBITDA* Corporate Synergies Low capital growth through Adjacencies incl. Future Growth Optionality Anglo Teck Potential optimization Q
Slide 13: Appendix
Teck APPENDIX
Slide 14: Endnotes
ENDNOTES SLIDE 6: UNCHANGED GUIDANCE FOR TECK-OPERATED SITES SLIDE 11: MERGER OF EQUALS TO CREATE A LEADING CRITICAL MINERALS CHAMPION 1. As at February 18, 2026. See Teck’s Q4 2025 press release, Q4 2025 MD&A, and most recent Annual Information Form for further 1. Production mix is based on assumed
Slide 15: 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 16: Global Metals, Mining & Critical Minerals Conference
GLOBAL METALS, MINING & CRITICAL MINERALS CONFERENCE February 23, 2026 Jonathan Price President and Chief Executive Officer
Teck Resources — Global Metals, Mining & Critical Minerals Conference 2026 on 6ix