Teck Resources Limited Class A · TSX:TECK.A
Teck Resources Limited Class A — Bank of America Global Metals, Mining & Steel Conference 2023
19 slides from Teck Resources Limited Class A's conference presentation, May 16, 2023
Slide 1: Maximizing Value
Maximizing Value Bank of America Global Metals, Mining & Steel Conference May 16, 2023 Global Metals and Mining Conference 1
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: Driving Long-Term Sustainable Shareholder Value
Driving Long-Term Sustainable Shareholder Value Industry leading World-class copper growth; steelmaking coal QB2 doubles assets copper production Long-term sustainable Enabled by ESG Simpler and more shareholder leadership & financial strength direct separation to unlock value value Global Metals an
Slide 4: Portfolio of World-Class Assets
Portfolio of World-Class Assets 1 Our Purpose Copper Zinc Steelmaking Coal Top 10 copper producer Largest net zinc miner High-quality, low-emission in the Americas globally hard coking coal and second largest seaborne To provide essential steelmaking coal supplier 2 resources the world is Copper cou
Slide 5: Strong Fundamentals and Outlook for our Commodities
Strong Fundamentals and Outlook for our Commodities Decarbonization driving significant global demand growth1 Copper Zinc Seaborne Steelmaking Coal Wind Power Case Study Driven by green technologies, Driven by galvanizing to A critical raw material to produce electrification and energy efficiency pr
Slide 6: QB2 Doubles Copper Production at Full Capacity
QB2 Doubles Copper Production at Full Capacity First copper production achieved Flagship copper project in Northern Chile Best-in-class copper growth potential • Large, long-life deposit capable of supporting multiple expansions QB2 drives Teck’s consolidated copper production growth 2022A–2025E2 •
Slide 7: Unrivalled Copper Growth Opportunities
Unrivalled Copper Growth Opportunities Double copper equivalent production by end of 2023, path to double again by end of decade Potential Annual CuEq Production Growth (kt; reporting basis)1 Unrivaled suite of options diversified by geography, Current Producing Near-Term Development Pipeline Invest
Slide 8: World-Class Steelmaking Coal Assets
World-Class Steelmaking Coal Assets Durable demand outlook - supports steel production & transition to low-carbon economy #2 Global Exporter of Seaborne Steelmaking Coal 30+ Year Reserve Life Integrated Operations 2023 Market Share1 As at December 31, 2022 (Mt)3 Elk Valley 17% BMA2 8% Teck 6% Anglo
Slide 9: High-Margin Steelmaking Coal Producer
High-Margin Steelmaking Coal Producer Demonstrated through-the-cycle cash flow generation Top Quartile Delivered Operating Margins Track Record of Profitability WoodMac Seaborne Steelmaking Coal Margin Curve (2022, US$/t)1 Teck $199 $193 $170 $2.7B 52% 10-year average 10-year average adjusted EBITDA
Slide 10: Being a Responsible Miner Creates Value
Being a Responsible Miner Creates Value Critical Sustainability Goals Recognized ESG Performance 2nd in metals and mining Prime Rating for ESG industry on S&P Global performance; top decile in Corporate Sustainability the industry Assessment Climate Biodiversity Communities & 3rd among 190 companies
Slide 11: Strong Financial Position
Strong Financial Position Strong Balance Sheet Debt Maturity Ladder2 (US$M) Liquidity1 Net Debt to Adjusted EBITDA2 $8.0B 0.6x Investment Grade Credit Ratings1 797 Moody’s Fitch S&P Baa3 BBB- BBB- Disciplined Capital Allocation 473 • Balances growth with cash returns to shareholders and 395 396 bala
Slide 12: Separation to Unlock Pure Play Value
Separation to Unlock Pure Play Value Positions both world-class businesses for greater success Growth in BRIC countries led to synchronized growth Increasingly divergent views on demand growth between commodities across all commodities The industry-leading pure play base metals growth business Teck
Slide 13: Teck's Base Metals Business Merits a Premium Valuation
Teck’s Base Metals Business Merits a Premium Valuation Illustrative EV for Teck Base Metals Assets Based on EBITDA Multiples1 Unrivalled Growth Upside Material leverage to copper price strength ~C$100/sh C$45B $101 C$40B Value of longer horizon growth EV of base metals C$36B + Steelmaking pipeline n
Slide 14: Driving Long-Term Sustainable Shareholder Value
Driving Long-Term Sustainable Shareholder Value Industry leading World-class copper growth; steelmaking coal QB2 doubles assets copper production Long-term sustainable Enabled by ESG Simpler and more shareholder leadership & financial strength direct separation to unlock value value Global Metals an
Slide 15: Appendix
Appendix Global Metals and Mining Conference
Slide 16: Endnotes
Endnotes Slide 3: Portfolio of World-Class Assets 1. Five years from January 1, 2018 to December 31, 2022. 2. Fort Hills is excluded in 2022 and included in 2018 to 2021. Slide 4: Strong Fundamentals and Outlook for our Commodity Mix 1. Copper source: ICA Research, Teck; every 1MW of installed wind
Slide 17: Non-GAAP Financial Measures and Ratios
Non-GAAP Financial Measures and Ratios Global Metals and Mining Conference
Slide 18: Non-GAAP Financial Measures and Ratios
Non-GAAP Financial Measures and Ratios Our financial results are prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board. This presentation includes reference to certain non-GAAP financial measures and non-GAAP ratios,
Slide 19: Non-GAAP Reconciliation Tables
Non-GAAP Reconciliation Tables Reconciliation between Segmented Profit, Segmented EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin 1 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Profit (loss) before taxes 922 142 (1,882) 1,266 3,077 2,951 1,574 41 2,847 5,952 Net finance expense 48 40 26 21 5
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