Teck Reviews Unaudited Third Quarter Outcomes for 2025

Teck Assets Restricted (TSX: TECK.A and TECK.B, NYSE: TECK) (Teck) right this moment introduced its unaudited third quarter outcomes for 2025.

“The merger of equals between Teck and Anglo American introduced this quarter is a novel alternative to create a worldwide chief in crucial minerals and a prime 5 copper producer,” mentioned Jonathan Value, President and CEO. “The mix will unlock vital worth for shareholders via integration of Quebrada Blanca and Collahuasi and significant company synergies, providing a compelling high-quality, copper-focused funding alternative. As well as, we accomplished a Complete Operational Evaluate to make sure our enterprise plans are grounded in demonstrated efficiency. Our focus shifting ahead is on disciplined execution and completion of the merger.”

Highlights

• On September 9, 2025, Teck and Anglo American plc introduced an settlement to mix the 2 corporations in a merger of equals (the Merger) to type the Anglo Teck group (“Anglo Teck”), a worldwide crucial minerals champion headquartered in Canada. Each Anglo American and Teck imagine the Merger will likely be extremely engaging for his or her respective shareholders and stakeholders, enhancing portfolio high quality, monetary and operational resilience and strategic positioning.
• The Merger is predicted to ship annual pre-tax synergies of roughly US$800 million, with roughly 80% anticipated to be realized on a run-rate foundation by the tip of the second yr following completion. Anglo Teck may also work with stakeholders to optimize the worth of the adjoining Collahuasi and Quebrada Blanca belongings to understand an annual common underlying EBITDA ¹ uplift of US$1.4 billion (100% foundation).
• On October 7, 2025, we introduced completion of our Complete Operational Evaluate and Up to date Outlook, with an replace on the progress of the Quebrada Blanca (QB) Motion Plan.
• Adjusted EBITDA ¹ of $1.2 billion in Q3 2025 was $185 million increased than the identical interval final yr, primarily pushed by increased copper and zinc costs and elevated by-product revenues. Our revenue from persevering with operations earlier than taxes was $289 million in Q3 2025.
• Adjusted revenue from persevering with operations attributable to shareholders ¹ was $372 million, or $0.76 per share, in Q3 2025. Our revenue from persevering with operations attributable to shareholders was $281 million or $0.58 per share.
• Our sturdy stability sheet gives resilience to market uncertainty, with liquidity as at October 21, 2025 of $9.5 billion, together with $5.3 billion of money.
• Our copper phase generated gross revenue earlier than depreciation and amortization ¹ of $740 million within the third quarter in comparison with $604 million a yr in the past, primarily pushed by increased copper costs (averaging US$4.44 per pound within the third quarter) and considerably decrease smelter processing costs. Copper gross sales of 110,300 tonnes in Q3 2025 have been just like yr in the past. Gross revenue from our copper enterprise was $355 million within the third quarter.
• Our zinc phase generated gross revenue earlier than depreciation and amortization ¹ of $454 million within the third quarter, in comparison with $358 million a yr in the past. The rise was primarily resulting from improved profitability at our Path Operations and robust zinc gross sales volumes from Purple Canine of 272,800 tonnes following a profitable delivery season, which exceeded our beforehand disclosed steering vary of 200,000 to 250,000 tonnes. Gross revenue from our zinc enterprise was $305 million within the third quarter.

Observe:
1. It is a non-GAAP monetary measure or ratio. See ” Use of Non-GAAP Monetary Measures and Ratios ” for additional info.

Monetary Abstract Q3 2025

Observe:

1. It is a non-GAAP monetary measure or ratio. See “Use of Non-GAAP Monetary Measures and Ratios” for additional info.

Key Updates

Teck and Anglo American plc Merger of Equals

• On September 9, 2025, we introduced that we had entered into an association settlement with Anglo American plc with respect to the Merger between Anglo American plc and Teck to type Anglo Teck, a worldwide crucial minerals champion and prime 5 world copper producer, headquartered in Canada and anticipated to supply buyers greater than 70% publicity to copper.
• Each Anglo American plc and Teck imagine the Merger will likely be extremely engaging for each corporations’ shareholders and stakeholders, enhancing portfolio high quality, resilience and strategic positioning. Bringing collectively the strengths of each corporations, Anglo Teck will leverage confirmed capabilities in technical and operational excellence, sustainability, product advertising and marketing and challenge execution to ship vital, value-accretive progress via the cycle.
• The Merger is predicted to ship annual pre-tax synergies of roughly US$800 million by the tip of the fourth yr following completion of the transaction, with roughly 80% anticipated to be realized on a run-rate foundation by the tip of the second yr following completion, pushed by economies of scale, operational efficiencies, and business and useful excellence. Anglo Teck may also work with key stakeholders and companions in Collahuasi and Quebrada Blanca to optimize the worth of those adjoining belongings to understand US$1.4 billion (100% foundation) of annual underlying EBITDA ¹ uplift on a mean pre-tax annual foundation from 2030-2049, primarily via operational integration and optimization of Collahuasi and Quebrada Blanca. This can construct on Anglo American’s success with related adjacency partnerships in Brazil and elsewhere in Chile.
• Completion of the transaction is topic to quite a lot of customary situations, together with relevant courtroom, shareholder and regulatory approvals. The Merger is predicted to shut inside 12-18 months from announcement.

Observe:

1. It is a non-GAAP monetary measure or ratio. See “Use of Non-GAAP Monetary Measures and Ratios” for additional info.

QB Motion Plan Replace and Q3 Efficiency

• Manufacturing at QB continues to be constrained by the tempo of improvement of the tailings administration facility (TMF), requiring downtime within the concentrator to handle the speed of tailings rise. Our precedence stays enabling protected, unconstrained manufacturing by elevating the crest top of the dam. That is being delivered via development of further rock benches whereas persevering with to progress efforts to enhance sand drainage to help development of the sand dam.
• In the end, a sand wedge will likely be constructed utilizing hydraulically positioned sand, which is able to allow steady-state TMF operation. Whereas sand presently being produced meets design specs, gradual drainage brought on by the presence of ultra-fines has delayed progress in improvement of the sand wedge. Consequently, the mechanical development of rock benches continues to be required, which has led to further downtime via 2025, significantly in Q3, and is predicted to end in incremental downtime in 2026, as mirrored in our 2026 annual manufacturing steering for QB. It’s presently anticipated that from 2027 onwards, the TMF improvement ought to not be a constraint on throughput ranges.
• Vital work has been undertaken via 2025 to enhance sand drainage instances with some enchancment realized so far. Additional progress is required to achieve design targets, and two key initiatives have been superior in Q3 2025:
  • Extremely-fines elimination: Check work in collaboration with cyclone producers and third-party consultants has proven optimistic ends in bettering sand drainage via the elimination of ultra-fines. As beforehand disclosed, we’re modifying the cyclone facility this quarter to include various applied sciences designed to take away ultra-fine materials.
  • Refinement of sand placement strategies: Enhancements to paddock design, and sand placement and drying, are additionally being applied to boost drainage effectivity.
• Q3 2025 copper manufacturing at QB was 39,600 tonnes, which was 12,900 tonnes decrease than the identical interval final yr. As outlined above, ongoing TMF improvement has constrained manufacturing via 2025 leading to further downtime of the concentrator, significantly in Q3 2025. September manufacturing was 5,800 tonnes, impacted by 20 days of downtime required to lift the tailings dam crest.
• Molybdenum manufacturing at QB was 480 tonnes within the third quarter as ramp-up of the molybdenum plant continued. Molybdenum manufacturing was constrained by downtime within the concentrator resulting from ongoing TMF improvement work, outlined above.
• The shiploader at QB’s port facility is underneath restore, as beforehand disclosed, and is predicted to return to service within the first quarter of 2026. The outage will not be anticipated to affect manufacturing as we’ve been delivery focus via our various port preparations and have maximized shipments to native clients.
• On October 7, 2025, we introduced updates to our beforehand disclosed steering. Our annual 2025 copper manufacturing for QB is predicted to be 170,000 to 190,000 tonnes and our annual molybdenum manufacturing for QB is predicted to be 1,700 to 2,500 tonnes. QB web money unit prices ¹ for 2025 are anticipated to be between US$2.65 – $3.00 per pound.

Observe:

1. It is a non-GAAP monetary measure or ratio. See “Use of Non-GAAP Monetary Measures and Ratios” for additional info.

Security and Sustainability Management

• Our Excessive-Potential Incident (HPI) Frequency fee stays low at 0.06 for the 9 months ended September 30, 2025, trending 50% under the 2024 annual fee of 0.12.

Steering

• On October 7, 2025, we introduced completion of our Complete Operational Evaluate and Up to date Outlook, which resulted in revisions to our annual manufacturing steering for QB and Highland Valley Copper for 2025-2028, Purple Canine for 2026-2028, and Path for 2026. Additional, on account of adjustments to our manufacturing steering, we supplied up to date steering for 2025 annual web money unit prices ¹ for QB and our copper phase and supplied 2026 annual web money unit price ¹ steering for our copper and zinc segments.
• There have been no adjustments to our steering disclosed on October 7, 2025.
• Our steering is printed in abstract under and our common steering tables, together with three-year manufacturing steering, could be discovered on pages 28–31 of Teck’s third quarter outcomes for 2025 on the hyperlink under.

Observe:
1. It is a non-GAAP monetary measure or ratio. See “Use of Non-GAAP Monetary Measures and Ratios” for additional info.

All greenback quantities expressed on this information launch are in Canadian {dollars} except in any other case famous.

Click on right here to view Teck’s full third quarter outcomes for 2025.

WEBCAST

Teck will host an Investor Convention Name to debate its Q3/2025 monetary outcomes at 11:00 AM Jap time, 8:00 AM Pacific time, on October 22, 2025 . A stay audio webcast of the convention name, along with supporting presentation slides, will likely be accessible at our web site at www.teck.com . The webcast will likely be archived at www.teck.com .

REFERENCE

Emma Chapman, Vice President, Investor Relations: +44 207.509.6576
Dale Steeves, Director, Exterior Communications: +1 236.987.7405

USE OF NON-GAAP FINANCIAL MEASURES AND RATIOS

Our annual monetary statements are ready in accordance with IFRS ^® Accounting Requirements as issued by the Worldwide Accounting Requirements Board (IASB). Our interim monetary outcomes are ready in accordance with IAS 34, Interim Monetary Reporting (IAS 34). This doc refers to quite a lot of non-GAAP monetary measures and non-GAAP ratios, which aren’t measures acknowledged underneath IFRS Accounting Requirements and wouldn’t have a standardized that means prescribed by IFRS Accounting Requirements or by Usually Accepted Accounting Rules (GAAP) in the USA.

The non-GAAP monetary measures and non-GAAP ratios described under wouldn’t have standardized meanings underneath IFRS Accounting Requirements, could differ from these utilized by different issuers, and is probably not akin to related monetary measures and ratios reported by different issuers. These monetary measures and ratios have been derived from our monetary statements and utilized on a constant foundation as acceptable. We disclose these monetary measures and ratios as a result of we imagine they help readers in understanding the outcomes of our operations and monetary place and supply additional details about our monetary outcomes to buyers. These measures shouldn’t be thought-about in isolation or used as an alternative to different measures of efficiency ready in accordance with IFRS Accounting Requirements.

Adjusted revenue from persevering with operations attributable to shareholders – For adjusted revenue from persevering with operations attributable to shareholders, we modify revenue from persevering with operations attributable to shareholders as reported to take away the after-tax impact of sure forms of transactions that replicate measurement adjustments on our stability sheet or usually are not indicative of our regular working actions.

EBITDA – EBITDA is revenue earlier than web finance expense, provision for earnings taxes, and depreciation and amortization.

Adjusted EBITDA – Adjusted EBITDA is EBITDA earlier than the pre-tax impact of the changes that we make to adjusted revenue from persevering with operations attributable to shareholders as described above.

Adjusted revenue from persevering with operations attributable to shareholders, EBITDA and Adjusted EBITDA spotlight gadgets and permit us and readers to research the remainder of our outcomes extra clearly. We imagine that disclosing these measures assists readers in understanding the continued cash-generating potential of our enterprise so as to present liquidity to fund working capital wants, service excellent debt, fund future capital expenditures and funding alternatives, and pay dividends.

Adjusted fundamental earnings per share from persevering with operations – Adjusted fundamental earnings per share from persevering with operations is adjusted revenue from persevering with operations attributable to shareholders divided by common variety of shares excellent within the interval.

Adjusted diluted earnings per share from persevering with operations – Adjusted diluted earnings per share from persevering with operations is adjusted revenue from persevering with operations attributable to shareholders divided by common variety of totally diluted shares in a interval.

Gross revenue earlier than depreciation and amortization – Gross revenue earlier than depreciation and amortization is gross revenue with depreciation and amortization expense added again. We imagine this measure assists us and readers to evaluate our potential to generate money circulate from our reportable segments or total operations.

Complete money unit prices – Complete money unit prices for our copper and zinc operations contains adjusted money prices of gross sales, as described under, plus the smelter and refining costs added again in figuring out adjusted income. This presentation permits a comparability of complete money unit prices, together with smelter costs, to the underlying worth of copper or zinc so as to assess the margin for the mine on a per unit foundation.

Web money unit prices – Web money unit prices of principal product, after deducting co-product and by-product margins, are additionally a standard trade measure. By deducting the co- and by-product margin per unit of the principal product, the margin for the mine on a per unit foundation could also be introduced in a single metric for comparability to different operations.

Adjusted money price of gross sales – Adjusted money price of gross sales for our copper and zinc operations is outlined as the price of the product delivered to the port of cargo, excluding depreciation and amortization costs, any one-time collective settlement costs or stock write-down provisions and by-product price of gross sales. It’s common apply within the trade to exclude depreciation and amortization, as these prices are non-cash, and discounted money circulate valuation fashions used within the trade substitute expectations of future capital spending for these quantities.

Revenue (Loss) from Persevering with Operations Attributable to Shareholders and Adjusted Revenue from Persevering with Operations Attributable to Shareholders

Reconciliation of Primary Earnings (Loss) per share from Persevering with Operations to Adjusted Primary Earnings per share from Persevering with Operations

Reconciliation of Diluted Earnings (Loss) per share from Persevering with Operations to Adjusted Diluted Earnings per share from Persevering with Operations

Reconciliation of EBITDA and Adjusted EBITDA

Reconciliation of Gross Revenue Earlier than Depreciation and Amortization

CAUTIONARY STATEMENT ON FORWARD-LOOKING STATEMENTS

This information launch incorporates sure forward-looking info and forward-looking statements as outlined in relevant securities legal guidelines (collectively known as forward-looking statements). These statements relate to future occasions or our future efficiency. All statements apart from statements of historic truth are forward-looking statements. Using any of the phrases “anticipate”, “can”, “may”, “plan”, “proceed”, “estimate”, “anticipate”, “could”, “will”, “would”, “challenge”, “predict”, “doubtless”, “potential”, “ought to”, “imagine” and related expressions is meant to determine forward-looking statements. These statements contain recognized and unknown dangers, uncertainties and different elements that will trigger precise outcomes or occasions to vary materially from these anticipated in such forward-looking statements. These statements communicate solely as of the date of this information launch.

These forward-looking statements embody, however usually are not restricted to, statements regarding: our focus and technique, together with being a pure-play vitality transition metals firm; anticipated world and regional provide, demand and market outlook for our commodities; our enterprise, belongings, and technique going ahead, together with with respect to future and ongoing challenge improvement; our potential to finish the merger with Anglo American, together with timing of completion and our potential to obtain relevant approvals; our expectations with respect to the merger with Anglo American; our potential to attain company synergies with Anglo American and potential synergies between QB and Collahuasi; our potential to execute our copper progress technique in a price accretive method; the timing and format of any money returns to shareholders; our expectations relating to price, timing and completion of HVC MLE; our expectations relating to our Complete Operational Evaluate and up to date outlook, together with any progress of the QB Motion Plan; our expectations relating to price, timing and completion of TMF improvement initiatives and set up of remaining everlasting tailings infrastructure and water administration at our QB operations; the prevalence and size of any potential downtime at QB; our potential to lift enhance and help development of the sand dam, together with the development of a sand wedge; our expectations relating to improved sand drainage, together with paddock design and sand placement; the outcomes of third-party skilled suggestions for our QB Motion Plan; our expectations with respect to improved recoveries at QB and obtain design charges within the mine, concentrator and molybdenum plant; the continued ramp-up to constant manufacturing and future optimization and debottlenecking of our QB operations; the timing of the restart of the shiploader on the QB port facility; our expectations with respect to mitigation of potential manufacturing or delivery disruptions or elevated prices associated to the QB shiploader outage; our expectations with respect to continued availability of different port preparations for QB; our expectations with respect to the profitable restart of the Carmen de Andacollo SAG mill and its potential to proceed to function as anticipated; our expectations with respect to Teck’s up to date working technique and manufacturing at Path; our expectations with respect to the manufacturing and gross sales quantity at Purple Canine; our expectations with respect to the prevalence, timing and size of required upkeep shutdowns and tools substitute; expectations relating to inflationary pressures and our potential to handle controllable working expenditures; the uncertainty surrounding the standing of assorted worldwide tariffs and their affect on the mining trade; expectations with respect to the potential affect of any tariffs, countervailing duties or different commerce restrictions, together with the affect on commerce flows, demand for our merchandise and basic financial situations and our potential to handle our sale preparations to reduce any impacts or keep compliance with any exemptions supplied; expectations with respect to execution of our copper progress technique, together with the timing and prevalence of any sanction selections and prioritization and quantity of deliberate progress capital expenditures; expectations relating to development of our copper progress portfolio tasks, together with development of research, allowing, execution planning, detailed engineering and design, threat mitigation, and superior early works, neighborhood and Indigenous engagement, completion of up to date price estimates, tendering processes, and timing for receipt of permits associated to QB optimization, QB Asset Enlargement and the HVC MLE, San Nicolás, and Zafranal tasks, as relevant; our expectations and outcomes with respect to the royalties on our operations; expectations with respect to timing and consequence of the regulatory approvals course of for our copper progress tasks; expectations for copper progress capital expenditures to progress our medium- to long-term tasks, together with Galore Creek, Schaft Creek, NewRange, and NuevaUnion; our expectations relating to security charges at our operations; expectations relating to our efficient tax fee; expectations relating to after-tax impairments; liquidity and availability of borrowings underneath our credit score amenities; necessities to publish and our potential to acquire further credit score for posting safety for reclamation at our websites; expectations for our basic and administration and analysis and innovation prices and prices associated to the enterprise useful resource planning system; revenue and loss expectations; copper worth market traits and expectations; our expectations referring to Teck’s purchase again of shares and talent to proceed to declare dividends; mineral grades; all steering showing on this doc together with however not restricted to the manufacturing, gross sales, price, unit price, capital expenditure, capitalized stripping, working outlook, and different steering underneath the headings “Steering” and “Outlook” and as mentioned elsewhere within the varied reportable phase sections; our expectations relating to inflationary pressures and elevated key enter prices; and expectations relating to the adoption of latest accounting requirements and the affect of latest accounting developments.

These statements are primarily based on quite a lot of assumptions, together with, however not restricted to, assumptions disclosed elsewhere on this doc and assumptions relating to basic enterprise and financial situations, rates of interest, commodity and energy costs; the completion of the merger with Anglo American; completion of the QB Motion Plan; the potential company synergies between Anglo American and Teck; acts of international or home governments and the result of authorized proceedings, together with expectations with respect to the claims for indemnification from NSC and Glencore in reference to the sale of the steelmaking coal enterprise; the imposition of tariffs, import or export restrictions, or different commerce boundaries or retaliatory measures by international or home governments; the continued operation of QB in accordance with our expectations; our potential to advance TMF improvement initiatives as anticipated and the prevalence and size of any potential upkeep downtime; expectations with respect to the restart of the shiploader at QB; expectations with respect to availability of different port preparations; expectations and assumptions with respect to HVC MLE capital price estimate and anticipated challenge economics; the likelihood that our enterprise could not carry out as anticipated or in a fashion according to historic efficiency; the provision and demand for, deliveries of, and the extent and volatility of costs of copper and zinc and our different metals and minerals, in addition to metal, crude oil, pure gasoline and different petroleum merchandise; the timing of the receipt of permits and different regulatory and governmental approvals for our improvement tasks and different operations, together with mine extensions; optimistic outcomes from the research on our enlargement and improvement tasks; our potential to safe ample transportation, together with rail and port providers, for our merchandise; our prices of manufacturing and our manufacturing and productiveness ranges, in addition to these of our opponents; persevering with availability of water and energy sources for our operations; adjustments in credit score market situations and situations in monetary markets usually; the supply of funding to refinance our borrowings as they turn out to be due or to finance our improvement tasks on cheap phrases; availability of letters of credit score and different types of monetary assurance acceptable to regulators for reclamation and different bonding necessities; our potential to obtain tools and working provides in ample portions and on a well timed foundation; the supply of certified staff and contractors for our operations, together with our new developments and our potential to draw and retain expert staff; the passable negotiation of collective agreements with unionized staff; the affect of adjustments in Canadian-U.S. greenback, Canadian dollar-Chilean Peso and different international alternate charges on our prices and outcomes; engineering and development timetables and capital prices for our improvement and enlargement tasks; our potential to develop expertise and acquire the advantages of expertise for our operations and improvement tasks; closure prices; environmental compliance prices; market competitors; the accuracy of our mineral reserve and useful resource estimates (together with with respect to dimension, grade and recoverability) and the geological, operational and worth assumptions on which these are primarily based; tax advantages and statutory and efficient tax charges; the result of our copper, zinc and lead focus therapy and refining cost negotiations with clients; the decision of environmental and different proceedings or disputes; our potential to acquire, adjust to and renew permits, licenses and leases in a well timed method; and our ongoing relations with our staff and with our enterprise and three way partnership companions.

Statements relating to the supply of our credit score amenities are primarily based on assumptions that we can fulfill the situations for borrowing on the time of a borrowing request and that the amenities usually are not in any other case terminated or accelerated resulting from an occasion of default. Assumptions relating to the prices and advantages of our tasks embody assumptions that the related challenge is constructed, commissioned and operated in accordance with present expectations. Expectations relating to our operations are primarily based on quite a few assumptions relating to the operations. Our Steering tables embody disclosure and footnotes with additional assumptions referring to our steering, and assumptions for sure different forward-looking statements accompany these statements throughout the doc. Statements regarding future manufacturing prices or volumes are primarily based on quite a few assumptions relating to working issues and on assumptions that demand for merchandise develops as anticipated, that clients and different counterparties carry out their contractual obligations, that working and capital plans is not going to be disrupted by points corresponding to mechanical failure, unavailability of components and provides, labour disturbances, interruption in transportation or utilities, or opposed climate situations, and that there are not any materials unanticipated variations in the price of vitality or provides. The foregoing listing of assumptions will not be exhaustive. Occasions or circumstances may trigger precise outcomes to range materially.

Elements that will trigger precise outcomes to range materially embody, however usually are not restricted to, adjustments in commodity and energy costs; adjustments in market demand for our merchandise; adjustments in curiosity and foreign money alternate charges; acts of governments and the result of authorized proceedings, together with indemnification claims; potential for Teck to fulfill all situations precedent for closing of the merger; potential for Teck to obtain needed approvals to finish the merger; prices associated to the merger; the imposition of tariffs, import or export restrictions, or different commerce boundaries or retaliatory measures by international or home governments; inaccurate geological and metallurgical assumptions (together with with respect to the dimensions, grade and recoverability of mineral reserves and sources); operational difficulties (together with failure of plant, tools or processes to function in accordance with specs or expectations, price escalation, unavailability of labour, supplies and tools); authorities motion or delays within the receipt of presidency approvals; adjustments in royalty or tax charges; industrial disturbances or different job motion; opposed climate situations; unanticipated occasions associated to well being, security and environmental issues; union labour disputes; political threat; social unrest; failure of shoppers or counterparties (together with logistics suppliers) to carry out their contractual obligations; adjustments in our credit score rankings; unanticipated will increase in prices to assemble our improvement tasks; problem in acquiring permits; incapacity to handle considerations relating to permits or environmental affect assessments; adjustments in legal guidelines and mining laws; and adjustments or additional deterioration normally financial situations. The quantity and timing of capital expenditures relies upon, amongst different issues, having the ability to safe permits, tools, provides, supplies and labour on a well timed foundation and at anticipated prices. Sure operations and tasks usually are not managed by us; schedules and prices could also be adjusted by our companions, and timing of spending and operation of the operation or challenge will not be in our management. Sure of our different operations and tasks are operated via joint preparations the place we could not have management over all selections, which can trigger outcomes to vary from present expectations. Ongoing monitoring could reveal surprising environmental situations at our operations and tasks that would require further remedial measures. Manufacturing at our QB and Purple Canine Operations can also be impacted by water ranges at website. Gross sales to China could also be impacted by basic and particular port restrictions, Chinese language regulation and insurance policies, and regular manufacturing and working dangers.

We assume no obligation to replace forward-looking statements besides as required underneath securities legal guidelines. Additional info regarding dangers, assumptions and uncertainties related to these forward-looking statements and our enterprise could be present in our Annual Info Type for the yr ended December 31, 2024 filed underneath our profile on SEDAR+ (www.sedarplus.ca) and on EDGAR (www.sec.gov) underneath cowl of Type 40-F, in addition to subsequent filings that can be discovered underneath our profile.

Scientific and technical info on this quarterly report relating to our materials properties was reviewed, accepted and verified by Jason Sangha, P.Eng., Vice President, Technical & Planning, an officer of Teck and a Certified Particular person as outlined underneath Nationwide Instrument 43-101.