Teck Resources Investor Presentation — September 2020

Document content

8th Annual Laguna Conference

President and Chief Executive Officer

Caution Regarding Forward- Looking Statements

2Both these slides andtheaccompanying oralpresentations contain certain forward -looking statements within themeaning oftheUnited States Private Securities Litigation Reform Actof1995 andforward -looking information within

themeaning oftheSecurities Act(Ontario) andcomparable legislation inother provinces (collectively referred toherein asforward-looking statements). Forward -looking statements canbeidentified bytheuseofwords such as

“plans”, “expects” or“does notexpect”, “isexpected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or“does notanticipate”, or“believes”, orvariation ofsuch words andphrases orstate thatcertain actions,

events orresults “may”, “could”, “should”, “would”, “might” or“will” betaken, occur orbeachieved. Forward -looking statements involve known andunknown risks, uncertainties andother factors which may cause theactual results,

performance orachievements ofTeck tobematerially different from anyfuture results, performance orachievements expressed orimplied bytheforward-looking statements.

These forward -looking statements include, butarenotlimited to,statements concerning: thepotential impact oftheCOVID-19 onourbusiness andoperations, including ourability tocontinue operations atoursites; ourability to

manage challenges presented byCOVID -19;Teck being positioned tosignificantly improve margins towards theendof2020 andearly 2021 ;expectations regarding ourQB2 ramp-up, including butnotlimited toworkforce and

progress targets, cost, timing andschedule impacts oftheCOVID-19 related suspension, andtiming ofTeck’s next contributions toproject capital ;Neptune upgrade cost andtiming expectations ;cost reduction program targets and

timing ofachieving those targets ;allguidance including butnotlimited toproduction, sales, cost, unitcost, capital expenditure, cost reduction andother guidance included inthese slides ortheaccompanying oralpresentation;

liquidity andavailability ofborrowings under ourcredit facilities andtheQB2 project finance facility ;ourstrong financial position; expectation thatRed Dog willship allofitsproduction during theshipping season, andtiming ofreturn

tofullproduction rate;thestatement thatthere issignificant potential Teck share price upside ;targets andfuture expectations stated intheslide titled "Our KeyPriorities" ;expectation oflowering operating costs andincreasing

EBITDA potential andother benefits andvalue tobegenerated from ourRACE 21TMinnovation-driven efficiency program andtheassociated implementation costs andtiming; focus onincreasing margins inoursteelmaking coal

business unit;allprojections andexpectations regarding QB2 andQB3, including, butnotlimited to,those setoutinthe“Quebrada Blanca” Appendix (including, butnotlimited to,statements thatQB2 willbeaworld class, lowcost