Teck Resources Limited (TSX: TECK.A and TECK.B) (NYSE: TECK) provided select unaudited fourth quarter 2025 production and sales volumes and positive settlement pricing adjustments, annual production volumes for 2025, and reaffirmed previously disclosed production and unit cost guidance for 2026 to 2028 for Teck-operated sites.

Our fourth quarter 2025 financial results are scheduled for release on February 18, 2026.

2025 Production Results

The table below shows a summary of Teck’s share of unaudited production and sales of principal products for the fourth quarter of 2025, and 2025 annual production as compared to our previously disclosed annual guidance.

Our 2025 annual copper production of 453,500 tonnes, in line with our previously disclosed guidance, was supported by strong operational performance across all assets in Q4. Performance at Quebrada Blanca (QB) in Q4 was strong with copper production of 55,400 tonnes as we continued the development of the tailings management facility and remained focused on operational stability and progress towards steady state. Copper sales in Q4 2025 were lower than production, primarily due to a short-term build-up in inventory at QB resulting from weather and sea conditions in December, which delayed shipments into early 2026.

Our 2025 annual zinc in concentrate production of 565,000 tonnes was at the higher end of our previously disclosed guidance range. Zinc in concentrate sales were 157,200 tonnes in the fourth quarter, with all Red Dog shipments completed early in the quarter, in line with the normal seasonality of sales.

Our 2025 annual refined zinc production of 229,900 tonnes was at the high end of our previously disclosed guidance, as we continue to focus on improving profitability and cash generation through prioritizing processing of residues over maximizing refined zinc production.

Pricing Adjustments

As a result of an increase in base metals prices, we expect to report positive settlement pricing adjustments of $295 million in the fourth quarter.

Guidance

There have been no changes to our previously disclosed annual production guidance for 2026–2028, issued on October 7, 2025, for all Teck-operated sites. Our previously disclosed 2026 annual zinc in concentrate production guidance for Antamina of 55,000– 65,000 tonnes has decreased to 35,000–45,000 tonnes, reflecting an updated mine plan, finalized in the fourth quarter of 2025. There has been no change in our previously disclosed 2026 annual copper production guidance for Antamina of 95,000–105,000 tonnes.

There has been no change to our previously disclosed annual 2026 net cash unit cost¹ guidance for our copper or zinc segments, issued on October 7, 2025.

¹ This is a non-GAAP financial measure. See “Use of Non-GAAP Financial Measures and Ratios” for further information.

Use of Non-GAAP Financial Measures and Ratios

Our financial results are prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board. This document includes reference to certain non-GAAP financial measures and non-GAAP ratios, which are not measures recognized under IFRS, do not have a standardized meaning prescribed by IFRS and may not be comparable to similar financial measures or ratios disclosed by other issuers. These financial measures and ratios have been derived from our financial statements and applied on a consistent basis, as appropriate. We disclose these financial measures and ratios because we believe they assist readers in understanding the results of our operations and financial position and provide further information about our financial results to investors. These measures should not be considered in isolation or used in substitute for other measures of performance prepared in accordance with IFRS. For more information on our use of non-GAAP financial measures and ratios, see the section titled “Use of Non-GAAP Financial Measures and Ratios” in our most recent Management Discussion Analysis, which is available on SEDAR+ (www.sedarplus.ca). Additional information on certain non-GAAP ratios is below.

Total cash unit costs – Total cash unit costs for our copper and zinc operations includes adjusted cash costs of sales, as described below, plus the smelter and refining charges added back in determining adjusted revenue. This document allows a comparison of total cash unit costs, including smelter charges, to the underlying price of copper or zinc in order to assess the margin for the mine on a per unit basis.

Net cash unit costs – Net cash unit costs of principal product, after deducting co-product and by-product margins, are also a common industry measure. By deducting the co- and by-product margin per unit of the principal product, the margin for the mine on a per unit basis may be presented in a single metric for comparison to other operations.

Adjusted cash cost of sales – Adjusted cash cost of sales for our copper and zinc operations is defined as the cost of the product delivered to the port of shipment, excluding depreciation and amortization charges, any one-time collective agreement charges or inventory write-down provisions and by-product cost of sales. It is common practice in the industry to exclude depreciation and amortization as these costs are non-cash and discounted cash flow valuation models used in the industry substitute expectations of future capital spending for these amounts.

Adjusted site cash cost of sales – Adjusted site cash cost of sales for our steelmaking coal operations is defined as the cost of the product as it leaves the mine excluding depreciation and amortization charges, out-bound transportation costs and any one-time collective agreement charges and inventory write-down provisions.

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.