TECK RESOURCES LTD

Cautionary Statement on Forward-Looking Information

This Annual Information Form contains certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to as forward-looking statements). These statements relate to future events or our future performance. All statements other than statements of historical fact are forward-looking statements. The use of any of the words “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “should”, “believe” and similar expressions is intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These statements speak only as of the date of this Annual Information Form.

These forward-looking statements include, but are not limited to, statements concerning:

■forecast production;

■forecast operating costs, unit costs, capital costs and other costs;

■sales forecasts;

■our strategies, objectives and goals;

■statements relating to the sale of our interest in our steelmaking coal business to Glencore Plc, including statements with respect to Teck’s remaining business and assets and its strategy going forward; the anticipated benefits of the transaction; terms and conditions of the transaction; the expected timing for completion of the transaction; and the expectation that Teck will continue to operate the steelmaking coal business until closing;

■the statement that Class A common shares will automatically be exchanged for one Class B subordinate voting share on May 12, 2029;

■future prices and price volatility for copper, zinc, steelmaking coal and other products and commodities that we produce and sell, as well as oil, natural gas, petroleum products and other products required for the operation of our mines;

■the demand for and supply of copper, zinc, steelmaking coal and other products and commodities that we produce and sell;

■expected mine lives of our operations and the possibility of extending mine lives through the development of new areas or otherwise;

■expected submission and receipt of regulatory approvals and the expected timing thereof;

■expectations regarding our ability to maintain and renew existing licences and leases for our properties;

■expected receipt or completion of prefeasibility studies, feasibility studies and other studies and the expected timing thereof;

■expectations regarding the timing and costs of construction and production of, and planned activities in relation to, our development and expansion projects, including, among others, our copper and zinc growth projects;

■expectations regarding the completion of our Quebrada Blanca Phase 2 project, including expectations regarding production, ramp-up, final capital costs, future cash flows, payback period and management of concentrate sales prior to the completion of associated port facilities;

■production capacity, planned production levels and future production of our operations and other development projects;

■our expectations regarding the Fording River Extension Project, including our expectations that it will extend mining at Fording for decades;

■the costs, steps and potential impact of water quality management measures at our steelmaking coal operations, including but not limited to statements under “Description of the Business — Individual Operations – Steelmaking Coal — Elk Valley Water Quality Management” including expectations related to treatment capacity, timing of construction and completion of our various proposed active water treatment and saturated rock fill facilities, water treatment and management capital costs, the regulatory process relating to active water treatment, our long-term costs of water management, and our expectation that we will stabilize and reduce the selenium trend in the Elk Valley;

■availability of transportation for our products from our operations to our customers;

■expected benefits of our logistics arrangements with Neptune, Westshore and Trigon Terminals, including providing flexibility and improved reliability;

■our expectations regarding planned maintenance at our Trail Operations;

■our estimates of the quantity and quality of our mineral and coal reserves and resources;

■availability and cost of our credit facilities;

■financial assurance requirements related to our projects and related agreements;

■our planned capital expenditures and capital spending and timing for completion of our capital projects;

■our estimates of reclamation and other costs related to environmental protection;

■proposed or expected changes in regulatory frameworks and their anticipated impact on our business;

■our tax position and the tax rates applicable to us, including statements related to the tax stability agreements in place at Quebrada Blanca and Carmen de Andacollo;

■our future capital and mine production costs, including the costs and potential impact of complying with existing and proposed environmental laws and regulations in the operation and closure of various operations;

■our financial and operating objectives;

■our exploration, environmental, community, health and safety initiatives and procedures;

■our long- and short-term sustainability goals and strategies, including our goal to achieve net-zero Scope 2 greenhouse gas emissions by 2025, our ambition to achieve net-zero Scope 3 emissions by 2050 and our goal to become a nature positive company by 2030;

■expectations regarding carbon legislation and climate change regulations, including our expectation that we will receive a portion of our carbon tax payments back under the CleanBC program;

■expectations regarding the amount of Class B subordinate voting shares that might be purchased under the normal course issuer bid and the mechanics thereof;

■the timing for hearings and other relevant dates in respect of any legal proceedings;

■risks facing our operations, projects and business;

■our dividend policy and capital allocation framework;

■general business and economic conditions; and

■all other statements that are not historical facts.

Inherent in forward-looking statements are risks and uncertainties beyond our ability to predict or control which may cause actual results to differ materially from those expressed or implied by the forward-looking statements contained in this Annual Information Form, including: risks that may affect our operating or capital plans; risks generally encountered in the permitting and development of mineral properties such as unusual or unexpected geological formations; risks associated with volatility in financial and commodities markets and global uncertainty; risks associated with fluctuations in the market prices of our principal commodities, which are cyclical and subject to substantial price fluctuations; risks relating to delays associated with permit appeals or other regulatory processes, ground control problems, adverse weather conditions, process upsets, equipment malfunctions or technology failures; risks related to inflation; risks relating to our development and expansion projects; risks associated with climate change, environmental compliance, changes in environmental legislation and regulation or changes to our reclamation obligations; risks associated with unanticipated metallurgical difficulties; risks associated with any damage to our reputation; risks associated with the Canadian Corruption of Foreign Public Officials Act and similar foreign bribery laws; risks associated with labour disturbances and availability of skilled labour; risks associated with changes to the tax and royalty regimes in which we operate; risks created through competition for mining properties; risks associated with lack of access to markets; risks associated with mineral reserve and resource estimates; risks posed by fluctuations in exchange rates and interest rates, as well as general economic conditions; risks associated with access to capital; risks associated with changes to our credit ratings; risks associated with our material financing arrangements and our covenants thereunder; risks associated with our dependence on third parties for the provision of transportation, port and other critical services; risks associated with the need to procure goods and services for our business, projects and operations, including risks relating to availability, prices, quality and timely delivery of goods and services; risks associated with non-performance by contractual counterparties; risks associated with potential disputes with partners and co-owners of our projects or operations; risks associated with Indigenous Peoples’ claims and other title risks; social and political risks associated with operations in foreign countries; risks associated with the preparation of our financial statements; risks related to trade barriers or import restrictions; risks of changes in tax laws or their interpretation; risks associated with information technology, including cybersecurity risks and risks associated with the failure of such information technology; risks associated with our ability to obtain or maintain insurance and risks associated with tax reassessments and legal proceedings. See “Risk Factors” for a discussion of additional risks we face. The amount and timing of actual capital expenditures is dependent upon, among other matters, being able to secure permits, equipment, supplies, materials and labour on a timely basis and at expected costs to enable the related capital project to be completed as anticipated. Certain of our operations and projects are operated through joint arrangements where we may not have control over all decisions, which may cause outcomes to differ from current expectations.

Further risks associated with our Elk Valley Water Quality Plan are discussed under the heading “Description of the Business — Individual Operations – Steelmaking Coal — Elk Valley Water Quality Management”. Declaration and payment of dividends and capital allocation are generally the discretion of the Board, and our dividend policy and capital allocation framework will be reviewed regularly and may change. Dividends and share repurchases can be impacted by share price volatility, changes to commodity prices, availability of funds to purchase shares, alternative uses for funds, compliance with regulatory requirements and other risk factors detailed in this Annual Information Form. Risks related to the sale of our interest in our steelmaking coal business to Glencore Plc, include the possibility that the transaction will not be completed on the terms and conditions, or on the timing, currently contemplated or at all, due to a failure to obtain or satisfy, in a timely manner or otherwise, required regulatory approvals or other conditions necessary to complete the transaction, or for other reasons.

Forward-looking statements in this Annual Information Form are based on a number of assumptions that may prove to be incorrect, including, but not limited to, assumptions regarding:

■general business and economic conditions;

■interest rates;

■inflation;

■commodity and power prices;

■acts of foreign or domestic governments and the outcome of legal proceedings;

■the supply and demand for, deliveries of, and the level and volatility of prices of copper, zinc and steelmaking coal and our other metals and minerals;

■the receipt of permits and other regulatory and governmental approvals for our development projects and other operations, including mine extensions, and the timing thereof;

■our ability to secure adequate transportation, including rail and port service, for our products;

■results from studies on our expansion and development projects;

■our costs of production, and our production and productivity levels, as well as those of our competitors;

■continuing availability of water and power resources for our operations;

■credit market conditions and conditions in financial markets generally;

■the availability of funding to refinance our borrowings as they become due or to finance our development projects on reasonable terms;

■availability of letters of credit and other forms of financial assurance acceptable to regulators for reclamation and other bonding requirements;

■our ability to procure equipment and operating supplies and services in sufficient quantities on a timely basis and on commercially reasonable terms;

■the availability of qualified employees and contractors for our operations, including our new developments and our ability to attract and retain skilled employees;

■the satisfactory negotiation of collective agreements with unionized employees;

■the impact of changes in Canadian-U.S. dollar exchange rates, Canadian dollar-Chilean Peso exchange rates and other foreign exchange rates on our costs and results;

■engineering and construction timetables and capital costs for our development and expansion projects;

■the benefits of technology for our operations and development projects;

■costs of closure, reclamation and environmental compliance costs generally, of our operations;

■market competition;

■the accuracy of our mineral and steelmaking coal reserve and resource estimates (including with respect to size, grade and recoverability) and the geological, operational and price assumptions on which these are based;

■tax benefits and tax rates;

■the outcome of our steelmaking coal price and volume negotiations with customers;

■the outcome of our copper, zinc and lead concentrate price, volume and treatment and refining charge negotiations with customers;

■the impact of climate change and climate change initiatives on markets and operations and projects;

■the impact of geopolitical events on our operations and projects and on global markets;

■outcome of legal and regulatory proceedings and other disputes in which we are involved;

■the future supply of low-cost power to the Trail smelting and refining complex;

■our ability to obtain, comply with and renew permits, licences and leases in a timely manner; and

■our ongoing relations with our employees and with our business and joint venture partners.

In addition, assumptions regarding the Elk Valley Water Quality Plan include assumptions that additional treatment will be effective at scale, and that the technology and facilities operate as expected, as well as additional assumptions discussed under the heading “Description of the Business — Individual Operations – Steelmaking Coal — Elk Valley Water Quality Management”. Our guidance on remaining capital costs for Quebrada Blanca Phase 2 is based on a CLP/USD exchange rate of 850. Expectations regarding our operations are based on numerous assumptions regarding the operations. Assumptions regarding the costs and benefits of our development and expansion projects include assumptions that the relevant project is constructed, commissioned and operated in accordance with current expectations. Statements regarding the availability of our credit facilities and project financing facility are based on assumptions that we will be able to satisfy the conditions for borrowing at the time of a borrowing request and that the credit facilities are not otherwise terminated or accelerated due to an event of default. Statements concerning future production costs or volumes are based on numerous assumptions of management regarding operating matters, including assumptions: that demand for products develops as anticipated; that customers and other counterparties perform their contractual obligations; that operating and capital plans will not be disrupted by issues such as mechanical failure, unavailability of parts or supplies, labour disturbances, interruption in transportation or utilities, or adverse weather conditions; and that there are no material unanticipated variations in the cost of energy or supplies. Statements regarding anticipated steelmaking coal sales volumes and average steelmaking coal prices depend on timely arrival of vessels, performance of our steelmaking coal-loading facilities, and performance by customers of their contractual obligations, as well as the level of spot pricing sales. Our sustainability goals and strategies are based on a number of additional assumptions, including assumptions regarding: the availability and effectiveness of technologies needed to achieve our sustainability goals and priorities; the availability of clean energy sources and zero-emissions alternatives for transportation on reasonable terms; our ability

to implement new source control or mine design strategies on commercially reasonable terms without impacting production objectives; our ability to successfully implement our technology and innovation strategy; and the performance of new technologies in accordance with our expectations. In addition to the above, statements regarding the sale of our steelmaking coal business to Glencore Plc, are based on assumptions that the transaction will be completed on the terms and conditions, and within the timeframes, currently contemplated and that we will obtain or satisfy, in a timely manner, all required regulatory approvals and other conditions necessary to complete the transaction.

We caution you that the foregoing list of important factors and assumptions is not exhaustive. Other events or circumstances could cause our actual results to differ materially from those estimated or projected and expressed in, or implied by, our forward-looking statements. You should also carefully consider the matters discussed under “Risk Factors” in this Annual Information Form and in the “Cautionary Statement on Forward-Looking Statements” section of our Management’s Discussion and Analysis for the year ended December 31, 2023, and subsequent filings, which can be found under our profile on SEDAR+ (www.sedarplus.ca) and on EDGAR (www.sec.gov). Except as required by law, we undertake no obligation to update publicly or otherwise revise any forward-looking statements or the foregoing list of factors, whether as a result of new information or future events or otherwise.

Scientific and technical information in this Annual Information Form regarding our coal properties was reviewed and approved by Jo-Anna Singleton, P.Geo. and Cameron Feltin, P.Eng., each an employee of Teck Coal Limited and each a Qualified Person under National Instrument 43-101. Scientific and technical information in this Annual Information Form regarding Antamina was reviewed and approved by Fernando Angeles, P.Eng,. Lucio Canchis, who is an SME Registered Member, Carlos Aguirre, FAusIMM and Hernando Valdivia, FAusIMM and who are all employees of Compañía Minera Antamina S.A. and Qualified Persons for the purposes of National Instrument 43-101 in respect of Antamina. Scientific and technical information in this Annual Information Form regarding our other base metal properties was reviewed and approved by Rodrigo Alves Marinho, P.Geo., an employee of Teck and a Qualified Person under National Instrument 43-101.

Cautionary Note to U.S. Investors Concerning Estimates of Measured, Indicated and Inferred Mineral Resources

This Annual Information Form has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of U.S. securities laws.

In this Annual Information Form we use the term “mineral resources” and its subcategories “measured”, “indicated” and “inferred” mineral resources. Readers are advised that such terms are required by, and used in accordance with, Canadian regulations and may not be comparable to those terms as disclosed by U.S. mining companies in accordance with U.S. Securities laws. Investors are cautioned not to assume that any part or all of the mineral resources in these categories will ever be converted into reserves. “Inferred mineral resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. Under Canadian rules, issuers must not make any disclosure of results of an economic evaluation that includes inferred mineral resources, except in very limited cases. Investors are cautioned not to assume that part or all of an inferred mineral resource exists, or is, or will be, economically or legally mineable.