Teck Announces Comprehensive Operations Review and QB Action Plan

Press Release

September 02, 2025

Vancouver, B.C. – Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) today announced the following actions to reinforce its commitment to performance and delivery:

• Comprehensive Operations Review, launched in August, focused on improving performance with a detailed QB action plan, identifying opportunities to enhance operating practices, and reinforcing confidence that future business plans are both reasonable and achievable.
• Onboarded industry veteran as Special Advisor to the CEO to help accelerate QB tailings management facility (TMF) development and drive operational performance.
• Defer sanctioning of major growth projects until QB achieves steady-state operations and ramp-up targets.

The Comprehensive Operations Review, launched in August, includes detailed assessments of operating plans, input from third-party experts, and rigorous execution tracking. The Comprehensive Operations Review is expected to conclude by October 2025, with resulting updates to our previously disclosed guidance communicated no later than Teck’s Q3 results.

QB Action Plan

The following QB action plan is in progress and focuses on identifying and implementing solutions to address slow sand drainage, which has impacted the pace of TMF development and constrained production. The action plan includes targeted steps to enable ramp-up, accelerate sand drainage, and strengthen execution at QB.

1. Enable ramp-up and de-risk future production

Teck’s near-term priority is to enable unconstrained production by mechanically raising the tailings dam wall and increasing crest height. This is being done through construction of additional rock benches to minimize downtime in the concentrator, while we pursue improvements in sand drainage.

2. Accelerate sand drainage times

Significant work has been undertaken through 2025 to improve sand drainage times; however, further progress is needed to reach design targets. Several initiatives are underway to accelerate drainage performance:

• Modification to the cyclone facility in consultation with cyclone manufacturers and third-party experts to improve the removal of fines and ultra-fines, which are currently limiting sand drainage rates. This is expected to be implemented by December 2025;
• A trial to evaluate coarser grind size in the mills following successful test work in July; and
• Refinement of sand placement techniques to further improve drainage efficiency.

3. Improve and expedite execution

A respected industry leader, with over 30 years of strategic and operational experience, including deep expertise in Chile, has been onboarded to provide direct support to the CEO and QB operations team, helping accelerate TMF development and drive performance improvements at site.

4. Strengthen operational readiness and resilience

Beyond the TMF-specific initiatives, Teck is committed to positioning QB operations for long-term, reliable performance. This includes validating an executable mine plan and optimizing performance across the mine, plant, and port. Planning, forecasting and reconciliation processes are under assessment and will be strengthened to support operational readiness and informed decision-making. Through a comprehensive review of site operations, Teck is proactively managing risk to support a successful ramp-up and ensure consistent delivery to design capacity.

Leadership Update

To strengthen executive oversight of operational activities and drive improved operating performance across the business, the Senior Vice Presidents of Operations for Latin America and North America will now report directly to the President and CEO.

Shehzad Bharmal, Executive Vice President and Chief Operating Officer, has retired from Teck. Over his 33-year career with the company, Shehzad made significant and lasting contributions to Teck’s operations and leadership. We thank him for his dedication and service.

About Teck
Teck is a leading Canadian resource company focused on responsibly providing metals essential to economic development and the energy transition. Teck has a portfolio of world-class copper and zinc operations across North and South America and an industry-leading copper growth pipeline. We are focused on creating value by advancing responsible growth and ensuring resilience built on a foundation of stakeholder trust. Headquartered in Vancouver, Canada, Teck’s shares are listed on the Toronto Stock Exchange under the symbols TECK.A and TECK.B and the New York Stock Exchange under the symbol TECK. Learn more about Teck at www.teck.com or follow @TeckResources.

Investor Contact:

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

Media Contact:

Dale Steeves
Director, External Communications
236.987.7405
dale.steeves@teck.com

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