Teck Resources Limited Class A · TSX:TECK.A
Teck Resources Limited Class A — Investor Presentation (November 2024)
16 slides from Teck Resources Limited Class A's investor presentation, Nov 5, 2024
Slide 1: Disciplined Growth, Strong Returns
VALUE-DRIVEN DISCIPLINED GROWTH, STRONG RETURNS November 5, 2024
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: Responsible Growth and Value Creation
Driven by our purpose and values, we will grow to RESPONSIBLE become one of the world’s leading providers of responsibly-produced energy transition metals GROWTH AND VALUE CREATION Balancing growth with cash returns to shareholders Our strategy is focused around four pillars: METALS FOR THE VALUE-DR
Slide 4: Strong Outlook for Energy Transition Metals
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
Slide 5: Delivering the Strategy to Unlock Growth
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 Hil
Slide 6: Foundation of World-Class Operations
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% ownershi
Slide 7: Excellence in Operations and Sustainability
EXCELLENCE IN OPERATIONS AND SUSTAINABILITY 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
Slide 8: Value-Accretive 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 510-5
Slide 9: Disciplined Capital Allocation Framework
DISCIPLINED CAPITAL ALLOCATION FRAMEWORK 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 intere
Slide 10: One of the Strongest Balance Sheets in the Sector
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* T
Slide 11: Strong Track Record of Shareholder Returns
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
Slide 12: Teck Re-Rating to Trade in Line with Copper Peers
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
Slide 13: Delivering Disciplined Growth & Strong Returns
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
Slide 14: Appendix
APPENDIX 13
Slide 15: Endnotes
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
Slide 16: 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
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