Teck Highlights Progress on Quebrada Blanca Ramp up, Pathway to Full Potential, and Worth Supply to Shareholders from Merger

Teck Sources Restricted (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) offered an replace on its roadmap to long-term worth creation, together with progress ramping up Quebrada Blanca (QB) and the Firm’s proposed merger with Anglo American plc (“Anglo American”) inclusive of the potential advantages of mixing QB and Collahuasi to create one of many largest world copper complexes, throughout an investor presentation and QB website tour November 3 and 4 in Chile.

“Now we have a transparent path to creating large worth for shareholders by finishing the transformative merger of equals with Anglo American and persevering with to advance the ramp up and optimization of QB,” stated Jonathan Worth, President and CEO. “Completion of the merger will create a number one growth-oriented copper funding automobile with resilience and capability to appreciate vital worth throughout the mixed portfolio. Integrating QB and Collahuasi is widely known as one of the crucial compelling industrial synergy alternatives within the {industry} right this moment, and can set up one of many largest world copper complexes, unlocking further manufacturing and worth for all stakeholders.”

Realizing the complete worth of QB
QB is a tier-one, multi-generational copper asset with state-of-the-art services. The present mine plan solely makes use of 15% of the useful resource base, offering a number of pathways for long-term progress. Efficiency has improved with the implementation of the QB Motion Plan in August, with work progressing on resolving the constraint on manufacturing posed by the slower-than-expected growth of the Tailings Administration Facility. Current progress contains:

• Mill throughput and recoveries working in keeping with expectations by October
• Finishing building of three rock benches, with the fourth on monitor to be accomplished by the top of 2025 and the fifth in H1 2026 to allow ongoing manufacturing
• Changed 59% of cyclones to this point to include new expertise, on monitor to interchange 100% of cyclones by the top of 2025
• Sand drainage charges bettering for the reason that first cyclone battery refit
• Concentrating on completion of sand wedge in H1 2026 enabling transition to regular state operations in 2026

Creation of a High 5 World Producer with Scale, Resilience and Monetary Energy
The proposed merger of Teck and Anglo American will create long-term worth progress for shareholders, establishing a worldwide vital minerals champion and high 5 copper producer with greater than 70% copper publicity and excellent additional progress optionality. Highlights of Anglo Teck embrace:

• High 5 world copper producer with mixed copper manufacturing of 1.2 million tonnes, anticipated to develop to c.1.35 million tonnes in 2027 from present operations
• Portfolio of working belongings contains six world class copper mines, one of many world’s largest zinc mines, and two extremely money generative premium iron ore operations
• Teck shareholders to stay totally invested in a top-tier copper-focused platform and sooner or later worth creation at Anglo Teck
• Teck shareholders profit from a number of worth drivers: US$800 million in pre-tax recurring annual company synergies; near-term progress of a further potential ~120-165 kilotonnes every year (ktpa) copper manufacturing by asset optimization; potential ~295 ktpa further copper manufacturing by medium-term capital environment friendly adjacencies (together with QB-Collahuasi and Los Bronces-Andina synergies); and in depth brownfield and greenfield future progress optionality
• With elevated scale and a worldwide capital markets footprint, Anglo Teck can have entry to a deeper pool of buyers, creating the chance to re-rate in the direction of a premium copper valuation a number of

Unlocking the potential of QB-Collahuasi
The proposed merger of Teck and Anglo American will allow a extremely engaging alternative to unlock distinctive industrial synergies between two flagship copper belongings – QB and Collahuasi. These two operations comprise one of many largest world copper complexes and their proximity creates a compelling, capital-efficient adjacency worth profit, together with:

• Roughly 175,000 tonnes every year of anticipated incremental copper manufacturing
• Roughly US$1.4 billion (100% foundation) further EBITDA ¹
• Extraordinarily capital-efficient progress at roughly US$11,000 per tonne of incremental manufacturing, together with building of a 15-kilometre conveyor from the Collahuasi pit to QB plant
• Estimates replicate essentially the most up-to-date and detailed evaluation of integration potential, with information from each operations, and assessment and validation by exterior advisors
• As the one shareholder in each ventures, Anglo Teck is well-positioned to work with a decreased variety of companions to facilitate the seize of this substantial worth upside for shareholders of each belongings

“The worth that might be created in combining Teck and Anglo American – for shareholders of each firms, QB-Collahuasi companions, and our prospects, workers and the communities the place we function – is evident and compelling,” stated Worth. “We’re advancing our work to appreciate this unimaginable potential and are excited to carry collectively two nice firms to type a worldwide vital minerals champion and high 5 world copper producer with main copper publicity and progress optionality.”

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1} For the needs of quantification, synergies have been estimated for the interval 2030-2049 however are anticipated to proceed past this era. Anticipated synergies and one-off prices are offered on a consolidated 100% foundation, pre-attribution to non-controlling pursuits or Collahuasi and Quebrada Blanca three way partnership companions.

Webcast Particulars
President and Chief Government Officer Jonathan Worth and members of Teck’s govt administration group might be presenting on Monday, November 3, 2025 from 10:55 a.m. to 1:30 p.m. Jap / 7:55 a.m. to 10:30 a.m. Pacific time as a part of Teck’s QB Operations Web site Go to.

A webcast to view the occasion might be held as follows:

An archive of the webcast might be obtainable at teck.com inside 24 hours.

Ahead Wanting Statements
This information launch accommodates sure forward-looking data and forward-looking statements as outlined in relevant securities legal guidelines (collectively known as forward-looking statements). These statements relate to future occasions or 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”, “count on”, “could”, “will”, “would”, “mission”, “predict”, “possible”, “potential”, “ought to”, “imagine” and related expressions is meant to determine forward-looking statements. These statements contain identified and unknown dangers, uncertainties and different components which 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 embrace, however should not restricted to, statements concerning enlargement potential of QB and pathways for long run progress; the implementation and influence of the QB motion plan, together with the timing, final result, and effectiveness thereof; our capability to satisfy mill throughput and restoration steering; our capability to speed up and advance QB tailings administration facility growth, together with expectations for the timing and completion of the development of rock benches, substitute of cyclones, and completion of the sand dam; the anticipated advantages and synergies from the proposed Merger; the anticipated results of the Merger on Anglo American and Teck; our expectations with respect to potential underlying synergies between QB and Collahuasi; the anticipated results and valuation of the Merger on Anglo American and Teck; and different statements that aren’t historic details.

These statements are based mostly on plenty of assumptions, together with, however not restricted to, assumptions concerning common enterprise and financial circumstances, future outlook and anticipated occasions, similar to our expectations with respect to the potential of QB, together with design, building, operational capability and enlargement potential; our expectations with respect to ore grades; our capability to determine and implement options to allow ramp-up, speed up and enhance sand drainage, strengthen execution, and resolve different constraints on QB manufacturing, together with the timeline for implementing such options; our expectations concerning value, timing and completion of tailing administration facility growth at our QB operations; our capability to enhance our planning, forecasting and reconciliation processes to assist operational readiness and allow knowledgeable decision-making and threat administration; our expectations with respect to the incidence, timing and size of required upkeep shutdowns and tools substitute; our expectations with respect our beforehand issued steering, together with with respect to manufacturing, gross sales, value, unit value, capital expenditure, capitalized stripping, working outlook, restoration, mill throughput, and different steering the power of Anglo American and Teck to finish the Merger, together with acquiring all required regulatory and shareholder approvals; expectations with respect to the technique, manufacturing capabilities and future monetary or working efficiency of Teck and Anglo American following the Merger; the potential valuation of the merger of Teck and Anglo American; the anticipated synergies between Teck and Anglo American, together with between the QB and Collahuasi operations; the anticipated income from the synergies between Teck and Anglo American; the success of the brand new board and administration group; the satisfaction of the circumstances precedent to the Merger; the potential of Teck and Anglo American following the merger to satisfy {industry} goal, public profile expectations, future plans, projections, aims, estimates and forecasts and the timing associated thereto. The foregoing checklist of assumptions is just not exhaustive. Occasions or circumstances may trigger precise outcomes to range materially.

Ahead-looking data is predicated on the data obtainable on the time these statements are made and are of excellent religion perception of the officers and administrators of Teck with respect to future occasions and are topic to dangers and uncertainties that might trigger precise outcomes to vary materially from these expressed within the Ahead-looking data. Elements which will trigger precise outcomes to range materially embrace, however should not restricted to, expectations with respect to the implementation of the QB motion plan and our capability to efficiently resolve constraints associated to the QB tailings administration facility; the chance that the Merger won’t be accomplished on the phrases and circumstances, or on the timing, at present contemplated or in any respect, because of a failure to acquire or fulfill, in a well timed method or in any other case, required regulatory, shareholder and courtroom approvals and different circumstances to the closing of the Merger; the chance that competing provides or acquisition proposals might be made; public notion of the Merger, market response to the Merger, the destructive influence that the failure to finish the Merger for any cause may have on the enterprise of Anglo American or Teck; common financial and market circumstances, together with curiosity and international trade charges, world monetary markets, adjustments in authorities rules or in tax legal guidelines; {industry} competitors; technological developments and different components described or mentioned in Teck’s disclosure supplies filed with relevant securities regulatory authorities sometimes.

Teck assumes no obligation to replace forward-looking statements besides as required beneath securities legal guidelines. Additional data regarding dangers, assumptions and uncertainties related to these forward-looking statements and Teck’s enterprise may be present in Teck’s Annual Data Type for the yr ended December 31, 2024 filed beneath our profile on SEDAR+ ( www.sedarplus.ca ) and on EDGAR ( www.sec.gov ) beneath cowl of Type 40-F, in addition to subsequent filings that may also be discovered beneath Teck’s profile.

About Teck
Teck is a number one Canadian useful resource firm centered on responsibly offering metals important to financial growth and the vitality transition. Teck has a portfolio of world-class copper and zinc operations throughout North and South America and an industry-leading copper progress pipeline. We’re centered on creating worth by advancing accountable progress and making certain resilience constructed on a basis of stakeholder belief. Headquartered in Vancouver, Canada, Teck’s shares are listed on the Toronto Inventory Trade beneath the symbols TECK.A and TECK.B and the New York Inventory Trade beneath the image TECK. Study extra about Teck at www.teck.com or observe @TeckResources .

Investor Contact:
Emma Chapman
Vice President, Investor Relations
+44.207.509.6576
emma.chapman@teck.com

Media Contact:
Dale Steeves
Director, Exterior Communications
236.987.7405
dale.steeves@teck.com