TECK RESOURCES LTD

Performance

Gross profit from our copper segment increased to $1.2 billion in the third quarter from $355 million in the same period last year(see table below), primarily due to significantly higher copper prices. Q3 2026 sales volumes were in line with production in the quarter, and higher than the same period last year.

Copper production increased to 115,700 tonnes in the third quarter compared with 104,100 tonnes in the same period last year. The increase was due to higher production at each of our copper operations, with the exception of Carmen de Andacollo, where production decreased as a result of extreme weather conditions, which caused an extended shutdown of the operation. Production increased at Highland Valley Copper and Antamina due to higher grades, as expected in the mine plan. Quebrada Blanca produced 47,200 tonnes of copper in the third quarter compared with 39,600 tonnes in the same period last year, which had 20 days of downtime required to raise the tailings dam crest. Following strong performance in the month of July, severe weather conditions, including heavy snowfall and high winds, caused intermittent power outages at site, shutting down dewatering and other equipment and the concentrator, which impacted mine productivity and access to higher-grade ore into September due to wet conditions in the mine. Further to these impacts, a planned maintenance shutdown was taken in September.

The table below summarizes the change in gross profit in our copper segment for the quarter.

Property, plant and equipment expenditures in the third quarter totalled $596 million. Sustaining capital totaled $288 million, of which $190 million related to QB. Growth capital of $308 million primarily related to the Highland Valley Copper Mine Life Extension (HVC MLE) project construction and development activities and Zafranal project work, outlined below.

Capitalized stripping costs were $154 million in the third quarter compared with $39 million in the same period last year. The increase relates to $70 million of capitalized stripping costs for HVC MLE with the remainder due to higher waste movement at Antamina and QB in line with mine sequencing.