Teck's Financial and Operations Outlook

Teck Considerations for Use of Transaction Proceeds Ensures Teck is well-positioned to unlock the full potential of our base metals business Maintain investment grade credit metrics through the cycle – targeting net debt to EBITDA* of 1.0x Assess opportunities to reduce gross debt to maintain or improve credit metrics Retain additional cash on balance sheet upfront to fund near-term copper growth opportunities Estimated cash taxes of ~C$1.2 billion due at end of February 2024 and transaction-related taxes of ~US$750M, to be paid in early 2025 Significant cash return to shareholders, with Board to determine timing, amount, and form * Net debt to adjusted EBITDA is a non-GAAP ratio. See "Non-GAAP Financial Measures and Ratios" slides.

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