Teck Announces Filing of Meeting Materials for Special Meeting of Shareholders seeking Approval of Merger of Equals with Anglo American

Press Release

Vancouver, B.C. – November 10, 2025 – Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) today announced the filing and mailing of its notice of meeting, management information circular and related meeting materials (collectively, the “Meeting Materials”) in connection with its upcoming special meeting of shareholders to be held on December 9, 2025 (the “Meeting”), to approve the proposed merger of equals (the “Merger”) with Anglo American plc (“Anglo American”). The Meeting Materials, which include a copy of the interim order, can also be accessed online on Teck’s website at www.Teck.com/reports and under Teck’s issuer profiles on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov.

Teck’s Board of Directors urges all Teck shareholders to carefully review the Meeting Materials and recommends that Teck shareholders vote their shares “FOR” the Merger.

The Merger will create Anglo Teck, a global critical minerals leader headquartered in Canada and top five global copper producer with a world-class portfolio and outstanding future growth optionality. Through the Merger, Teck expects to deliver tremendous long-term value for its shareholders. Importantly the all-stock consideration will allow Teck shareholders to participate in the enormous upside potential of the combined company.

“This merger presents a unique opportunity to create a global mining powerhouse headquartered in Canada, offering our shareholders the chance to participate in a larger company with greater resilience, growth potential and strategic flexibility for the long-term,” said Sheila Murray, Chair. “Your Board unanimously recommends this merger, as we firmly believe it is the absolute best path forward to realize the full potential of our strategy and our portfolio.”

“We are confident this merger of equals will generate tremendous value for Teck shareholders as well as create significant economic opportunity in Canada, underpinning our Board’s unanimous determination that the combination is the best path forward for our shareholders and all of our stakeholders,” said Jonathan Price, President and CEO. “We invite all shareholders to carefully review the meeting materials and vote for this transformative merger to create a new global critical minerals champion with significant copper exposure, leading growth, and incredible near, medium and long-term value creation potential.”

Key Highlights of the Proposed Merger:

• Opportunity to Participate in Future Value Creation: At closing of the Merger, Teck shareholders will own approximately 37.6% of the combined Anglo Teck on a fully diluted basis. The terms of the Merger allow Teck shareholders to maintain their full investment and participation in future value upside at Anglo Teck, including the proposed QB-Collahuasi synergies and value creation initiatives underway at Anglo American, including near term asset optimization opportunities, proceeds from asset disposals and planned adjacencies between Los Bronces and Andina.
• World-Class Portfolio and Improved Growth Prospects: Anglo Teck will offer a premier portfolio of copper assets, supported by zinc and premium iron ore businesses, including:
  • Six world-class copper assets
  • One of the world’s largest zinc mines
  • Two highly cash generative premium iron ore operations
  • Near-term growth driven through asset optimization
  • Medium-term growth including through capital efficient adjacencies (including QB & Collahuasi and Los Bronces & Andina synergies)
  • Significant long-term brownfield and greenfield optionality
• Compelling Value Creation Through Synergies: The Merger is expected to generate significant value for shareholders by unlocking material operational and functional synergies:
  • Approximately US$800 million in pre-tax recurring annual synergies
  • Approximately US$1.4 billion of underlying annual EBITDA synergies between the adjacent Collahuasi and QB operations (100% basis)¹
• Creation of a Top 5 Global Copper Producer with the Scale, Resilience, Financial Strength and Capital Markets Footprint to Unlock Re-Rating Potential: Anglo Teck will be among the largest global producers of copper with the scale, resilience, financial strength and capital markets footprint, creating the opportunity to re-rate towards a premium copper valuation multiple:
  • Combined copper production of 1.2 million tonnes, expected to grow to c.1.35 million tonnes in 2027 from current operations
  • Greater than 70% exposure to copper
  • World-class portfolio of copper and other cash-flowing assets
  • Expanded cash flow base and realization of anticipated synergies expected to result in a stronger financial profile and investment grade credit metrics
  • Enhanced capital markets profile and liquidity

¹On an average annual basis from 2030-2049 but expected to continue beyond this period (100% basis).

The Merger, which was announced in September 2025, is expected to close within 12-18 months from the date of announcement, subject to shareholder approvals and customary closing conditions, including approval under the Investment Canada Act and applicable competition and regulatory approvals in various jurisdictions globally. On November 3, 2025, the Supreme Court of British Columbia granted an interim order (the “Interim Order”) in connection with the Merger, which authorizes the calling and holding of the Meeting. A copy of the Interim Order is included in the Meeting Materials.

The Merger is supported by Temagami Mining Company Limited, SMM Resources Incorporated, Dr. Norman B. Keevil and the directors and executive leadership team of Teck, who have collectively agreed to vote shares representing approximately 79.8% of the issued and outstanding Teck Class A common shares and approximately 0.02% of the issued and outstanding Teck Class B subordinate voting shares (as of the record date for the Meeting) in favour of the Merger at the Meeting.

Board Recommendation
The Teck Board of Directors has unanimously recommended that shareholders vote “FOR” the Merger, having determined that the Merger is in the best interests of Teck, is fair to Teck’s shareholders, and presents a highly attractive and unique opportunity to create shareholder value above the value to be created from Teck’s standalone trajectory, while lowering downside risk and preserving strategic flexibility.

Meeting Location and Voting Details
The Meeting will be held at Suite 400-550 Burrard Street, Vancouver, British Columbia, Canada and virtually at: https://virtual-meetings.tsxtrust.com/1856 on December 9, 2025 at 11:00 a.m. (Pacific Time).

Record Date
The Teck Board has set the close of business on October 20, 2025, as the record date for determining Teck shareholders who are entitled to receive notice of and vote at the Teck Meeting. The Meeting Materials provide important information relating to the Merger, voting procedures and how to attend the Meeting. Shareholders are urged to read the Meeting Materials carefully.

Shareholder Questions
If you have questions, including the procedures for voting, please contact our proxy solicitation agents:

Shareholders Located in Canada

Laurel Hill Advisory Group
Toll-Free: 1-877-452-7184
Text Message: 1-416-304-0211
Email: assistance@laurelhill.com

Shareholders Located Outside of Canada

Innisfree M&A Incorporated
US Toll Free: 1-877-750-0510
Outside US: +1-412-232-3651
Banks and Brokers: 1-212-750-5833

Non GAAP Measure
A certain financial performance measure used in this press release – namely underlying EBITDA – is not prescribed by IFRS. This non-GAAP financial measure is intended to provide additional information only and does not have any standardized meaning under IFRS and may not be comparable to similar measures presented by other companies. This non-GAAP financial measure should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

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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