Teck Reports Unaudited Third Quarter Results for 2016

1. Third Quarter 2016 Results
October 27, 2016

2. Forward Looking Information
Both these slides and the accompanying oral presentation contain certain forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and
forward-looking information within the meaning of the Securities Act (Ontario). Forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is
expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variation of such words and phrases or state that certain actions, events
or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which
may cause the actual results, performance or achievements of Teck to be materially different from any future results, performance or achievements expressed or implied by the forward-looking
statements.
The forward-looking statements in these slides and the oral presentation include estimates, forecasts, and statements as to management’s expectations with respect to, among other matters, our
production and cost guidance including our cost, sales and production forecasts at our business units and individual operations and expectation that we will meet our production, sales and
production guidance and forecasts, our continued drive for efficiencies and cost reductions across our business, plans and expectations for our development projects, our expectation that we will
have a year-end cash balance of approximately C$1.0 billion, interest rates and demand and market outlook for commodities. These forward-looking statements involve numerous assumptions,
risks and uncertainties and actual results may vary materially.
These forward-looking statements involve numerous assumptions, risks and uncertainties and actual results may vary materially. These statements are based on a number of assumptions,
including, but not limited to, assumptions regarding general business and economic conditions, interest rates, the supply and demand for, inventories of, and the level and volatility of prices of zinc,
copper, coal and gold and other primary metals and minerals produced by Teck as well as oil, natural gas and petroleum products, the timing of receipt of regulatory and governmental approvals
for Teck’s development projects and other operations, Teck’s costs of production and production and productivity levels, as well as those of its competitors, power prices, market competition, the
accuracy of Teck’s reserve estimates (including, with respect to size, grade and recoverability) and the geological, operational and price assumptions on which these are based, tax benefits, the
resolution of environmental and other proceedings, assumptions regarding the impact of our cost reduction program on our operations, our ongoing relations with our employees and partners and
joint venturers, performance by customers and counterparties of their contractual obligations, and the future operational and financial performance of the company generally. Our expectation that
we will end the year with a cash balance of approximately C$1.0 billion is based on current prices and exchange rates and assumes no unusual transactions or events occur and that we meet our
full year guidance for production, costs and capital expenditures. Acquisition of 49% interest in the Teena/Reward zinc project is based on the assumption that all conditions to closing are satisfied.
The foregoing list of assumptions is not exhaustive. Events or circumstances could cause actual results to differ materially. Factors that may cause actual results to vary include, but are not limited
to: adverse developments in business and economic conditions in the principal markets for Teck’s products, in credit markets, or in the supply, demand, and prices for metals and other
commodities to be produced, changes in interest and currency exchange rates, failure of customers or counterparties to perform their contractual obligations, inaccurate geological or metallurgical
assumptions (including with respect to the size, grade and recoverability of mineral reserves and resources), changes in taxation regimes, legal disputes or unanticipated outcomes of legal
proceedings, unanticipated operational difficulties (including failure of plant, equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of
materials and equipment, government action or delays in the receipt of permits or government approvals, industrial disturbances or other job action, and unanticipated events related to health,
safety and environmental matters), political risk, social unrest, lack of available financing for Teck or its partners or co-venturers, and changes in general economic conditions or conditions in the
financial markets. Our Fort Hills project is not controlled by us and construction and production schedules may be adjusted by our partners. . The amount and timing of actual capital expenditures
is dependent upon numerous factors, including our ability to secure permits, equipment, labour and supplies and to do so at the cost level expected. And we may change our capital spending
plans depending on commodity markets, results of feasibility studies or various other factors. Closing of the Teena/Rox interest may be affected by unanticipated difficulties with respect to
satisfaction of closing conditions or other challenges.
Statements concerning future production costs or volumes are based on numerous assumptions of management regarding operating matters and on 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 and supplies, labour disturbances, interruption in transportation or utilities, adverse weather conditions, and that there are no material unanticipated variations in the cost of
energy or supplies. Statements regarding anticipated coal sales volumes and average coal prices for the quarter depend on timely arrival of vessels and performance of our coal-loading facilities,
as well as the level of spot pricing sales.
Certain of these risks are described in more detail in the annual information form of the company available at www.sedar.com and in public filings with the SEC. The company does not assume the
obligation to revise or update these forward-looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events, except as may be required
under applicable securities laws.
2

3. Well Positioned to Capitalize on Turn in the Cycle
• Reduced debt by >US$1B over 12 months
• Expect year-end cash balance of ~C$1B
• Excellent operating execution
• Increasing steelmaking coal production guidance
• Continuing to deliver on cost management
• Investing for growth
3

4. Quarterly Financial Results
1. * Non-GAAP financial measure. See “Use of Non-GAAP Financial Measures” section of the quarterly news release for further information.
1. Our profit includes various gains and losses due to changes in market prices and rates in respect of pricing adjustments, commodity derivatives, share based
compensation and the discounted value of decommissioning and restoration costs of closed mines, which together totalled $41million after-tax ($52 million before
tax), or $0.07 per share. We do not adjust our reported profit for these items as they occur on a regular basis.
Q3 2016 Results
Revenues $2.3 Billion
Gross profit
(before depreciation & amortization)*
$817 Million
Adjusted EBITDA* $830 Million
Profit
(attributable to shareholders)
$234 Million
Adjusted profit
(attributable to shareholders)*
$152 Million
$0.26/share
Adjusted profit attributable to shareholders was reduced
by $0.07/share due to changes in market prices1
4

5. 34 33
2
12
5
28
26
Q3 2015 Q3 2016
1.44 1.34
0.20
0.15
Q3 2015 Q3 2016
Q3 2016 Operational Highlights
1. Includes co-product zinc production in our copper business unit.
2. Steelmaking coal unit cost of sales include site costs, inventory adjustments and transport costs. Total cash unit costs are unit cost of sales plus capitalized stripping.
Unit costs for capitalized stripping are calculated based on production. Non-GAAP financial measures. See “Use of Non-GAAP Financial Measures” section of the
quarterly news release for further information.
3. As compared with Q3 2015.
4. Copper C1 unit costs are net of by-product margins. Total cash unit costs are C1 unit costs plus capitalized stripping. Non-GAAP financial measures. See “Use of
Non-GAAP Financial Measures” section of the quarterly news release for further information.
Steelmaking Coal Total Cash Unit Costs2
(US$/tonne)
64
76
Site
Transport
Inventory Adj.
Copper Total Cash Unit Costs4
(US$/lb)
Stripping
C1 Unit3
Stripping
1.49
1.64
Copper Costs3,4
C1 Unit Costs down US$0.10/lb
Total Cash Unit Costs down US$0.15/lb
Steelmaking Coal Costs2,3
Unit Cost of Sales down US$5/t
Total Cash Unit Costs down US$12/t
Production Q3 2016 Change From Q3 2015
Steelmaking coal (Mt) 7.0 ▲ 1.5
Copper (kt) 79 ▼ 9
Zinc in concentrate1 (kt) 169 ▲ 14
Zinc – refined (kt) 83 ▲ 5
5

6. 5.5
7.0
Q3 2015 Q3 2016
6.2
7.3
Q3 2015 Q3 2016
116 120
Q3 2015 Q3 2016
719
868
Q3 2015 Q3 2016
199
307
Q3 2015 Q3 2016
45 43
3
0
36
34
Q3 2015 Q3 2016
Steelmaking Coal Quarterly Results
Realized Price (C$/tonne) Revenue (C$M)
Gross Profit2 (C$M)Production (Mt)
Sales (Mt)
Unit Cost of Sales1 (C$/tonne)
1. Steelmaking coal unit cost of sales include site costs, inventory adjustments and transport costs.
2. Before depreciation and amortization. Non-GAAP financial measure. See “Use of Non-GAAP Financial Measures” section of the quarterly news release for
further information.
Increased 2016 production guidance to 27.0 to 27.5 Mt
8%
84
77
Site
Transport
Inventory
Total
1.5
1.1 3% 21%
54%Record
production
6

7. Strong Recovery in Steelmaking Coal
Coal Price Assessments
• Market tightness due to:
− Global curtailments
− Operating day restrictions
in China
− Weather & transportation
issues
− Production interruptions
− Increased global demand
• Industry response is
constrained
Source: Argus Plotted to October 26, 2016
60
80
100
120
140
160
180
200
220
240
260
$/tonne
Quarterly Contract Settlement
Argus FOB Australia
7

8. Expanding Coal Earnings Potential
Coal EBITDA & Cash Flow Potential*
Cost reductions and price increases contribute to expanding earnings potential
* Non-GAAP financial measures. See ‘Use of Non-GAAP Financial Measures’ in our quarterly results news releases for additional information. Annualized EBITDA and free cash flow generating capacity of
the coal business unit in two scenarios. The “mid-point” scenario assumes the mid-points of 2016 production and cost guidance, and realized coal prices equal to 92% of benchmark. The “Upside” scenario
assumes production at the high end of our 2016 guidance range, operating costs at the low end of the range, and realized coal prices equal to 96% of the benchmark. “Cash flow” refers to free cash flow
after capitalized stripping and sustaining capital. Outputs are based on an assumed Canadian dollar to US dollar exchange rate of 1.30, 2016 plan fuel costs, and numerous other assumptions. These
assumptions are subject to various risks and uncertainties that may cause results to vary materially from those depicted above. Please see the Cautionary Note on Forward-Looking Information for more
information.
2016 Guidance Mid-Point Upside
Coal production (Mt) 27.25 27.5
Unit Cost of Sales (C$/t):
Site 44 42
Transportation 34 33
Unit Cost of Sales (C$/t) 78 75
Capitalized Stripping (C$M) 290 290
Sustaining Capital (C$M) 50 50
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
120 130 140 150 160 170 180 190 200
C$Million
HCC Coal Price US$/t
8

9. 88
79
Q3 2015 Q3 2016
84
77
Q3 2015 Q3 2016
2.42
2.17
Q3 2015 Q3 2016
576
471
Q3 2015 Q3 2016
201
176
Q3 2015 Q3 2016
Copper Quarterly Results
Realized Price (US$/lb) Revenue (C$M)
Gross Profit2 (C$M)Production (kt)
Sales (kt)
C1 Unit Costs1 (US$/lb)
Expect top end of production guidance range (310 kt-320 kt) and
bottom end of cost guidance range (US$1.40-US$1.50/lb)1 for 2016
xx%
18%
1. C1 unit costs are net of by-product margins. Total cash unit costs are C1 unit costs plus capitalized stripping. Cost guidance range is for C1 unit costs.
2. Before depreciation and amortization. Non-GAAP financial measure. See “Use of Non-GAAP Financial Measures” section of the quarterly news release for
further information.
12%
7%
7
9
10%
1.44
1.34
Q3 2015 Q3 2016
9

10. 78
83
Q3 2015 Q3 2016
22
24
Q3 2015 Q3 2016
138
158
Q3 2015 Q3 2016
28 29
Q3 2015 Q3 2016
270
334
Q3 2015 Q3 2016
0.88
1.02
Q3 2015 Q3 2016
805
966
Q3 2015 Q3 2016
194 200
Q3 2015 Q3 2016
78 78
Q3 2015 Q3 2016
Zinc Quarterly Results
Zinc Realized Price (US$/lb) Revenue (C$M)
Gross Profit2 (C$M)Zinc Production (kt)
Zinc Sales (kt)
Lead Production (kt)
Expect 180 kt of zinc sales at Red Dog in Q4
1. Represents production and sales from Red Dog and Pend Oreille, and excludes co-product zinc production from our copper business unit.
2. Before depreciation and amortization. Non-GAAP financial measure. See “Use of Non-GAAP Financial Measures” section of the quarterly news release for
further information.
RefinedConc1
RefinedConc1 RefinedConc1
2
20%6
flat
20 5 1
16%
24%
10

11. 0 250 500
Meters
Teena 1
TNDD015
NR
28.0 @ 6.1/0.9
TNDD013
5.8 @ 9.3/1.3
16.6 @ 7.7/1.3
TNDD012
Teena 5
NR
3.8 @ 6.9/1.1
Teena 2
TNDD014
24.4 @ 14.6/2.3
9.8 @ 9.4/1.5
TNDD020
20.1 @ 13.0/2.0
5.2 @ 9.2/1.6
TNDD010
38.8 @ 14.7/2.3
3.0 @ 4.6/2.9
6.7 @ 8.2/1.4
TNDD019
31.9 @ 9.9/1.5
5.0 @ 9.5/1.2
TNDD009
13.1 @ 5.2/0.9
Teena 6
22.8 @ 10.3/1.6
3.8 @ 10.3/0.7
Teena 22
24.2 @ 8.2/1.3
3.6 @ 8.3/1.3
Teena 17
20.4 @ 11.6/1.8
4.7 @ 8.5/1.2
TNDD011
Teena 4/Teena 4A
4.8 @ 5.5/2.7 (4)
8.4 @ 12.9/0.2 (4)
8.6 @ 7.1/2.7 (4A)
19.7 @ 12.9/2.0
7.2 @ 8.0/1.2
TNDD021
Teena 7
5.8 @ 8.1/1.1
4.9 @ 10.2/1.6
6.0 @ 5.9/0.9
Teena/Reward Zinc Project
TenementBoundary
DDH Pierce Points
NR No results above threshold
Drill composites were calculated using a 6% Zn+Pb threshold. Drill intersections are reported as drilled thicknesses. True width of the mineralized interval is interpreted to be 70-90% of the
reported length. The scientific and technical information disclosed on this slide has been reviewed and approved by Rodrigo Marinho, P.Geo., Technical Director, Reserve Evaluation, Teck who is
a qualified person under NI 43-101.
m @ Zn%/Pb%
NR
Teena 8
NR
NR
11

12. Fort Hills Project Status & Progress
Source: Suncor. Primary extraction, September 2016.
• Construction has surpassed 70%
• Off-site fabrication and modularization program completed
• Several areas in early commissioning activities
• Capex & schedule update expected around year end
12

13. 0
500
1000
1500
2000
2500
Cash - start of
quarter
Cash flow from
operations &
working capital
Proceeds from
sale of
investments and
other assets
Repayment of
debt
PP&E, incl. Fort
Hills
Debt interest
and finance
charges paid
Capitalized
stripping
Other Cash - end of
quarter
Cash Changes in Q3 2016
Cash Flow
376
54
175
394
$Millions
$1,271
$1,113
88
854
Expect year-end cash balance of ~C$1B
33
1. Non-GAAP measure. See “Use of Non-GAAP Financial Measures” section of the quarterly news release for further information.13

14. 14
Debt Levels• Repurchased public notes in September
and October
− Face value: US$759M
− Total cost: US$693M
− Total pre-tax gain: C$76M
− Tranches: 2023, 2035, 2040, 2041,
2042, 2043
• Annual interest savings: US$43M
Reduced debt by ~C$1.4B in the past 12 months
Current Debt Profile
Public notes outstanding US$6.1B
Average coupon 5.7%
Weighted average term to maturity ~13 years
Debt to debt-plus-equity ratio 33%
>US$1B
Reduction
Acting on Debt Reduction
5.0
5.5
6.0
6.5
7.0
7.5
9/30/2015 12/31/2015 9/30/2016 10/26/2016
US$Billions
14

15. Simplified Pricing Adjustment Model
Outstanding at
Jun. 30, 2016
Outstanding at
Sep. 30, 2016
Quarterly
Price
Change
Pricing
Adjustments
Mlbs US$/lb Mlbs US$/lb US$/lb C$M
Copper 193 2.19 156 2.20 0.01 $5
Zinc 91 0.95 246 1.08 0.13 $20
Other $12
TOTAL $37
Driven by quarterly change in key commodity prices
Quarterly Pricing Adjustments
Q1 2011
Q2 2011
Q4 2011
Q1 2012
Q2 2012
Q3 2012
Q4 2012
Q1 2013
Q2 2013
Q3 2013
Q4 2013
Q1 2014
Q2 2014
Q3 2014
Q4 2014
Q1 2015
Q2 2015
Q3 2015
Q4 2015
Q1 2016
Q2 2016
Q3 2016
-150
-100
-50
0
50
100
-$0.75 -$0.25 $0.25 $0.75
Pre-taxSettlementAdjustment(C$M)
Change in Copper & Zinc Price (C$/lbs)
15

16. Emerging Stronger from this Cycle
• Production growth from Fort Hills
• No operating assets sold
• No equity dilution
• Maintaining strong liquidity
• Reducing debt, managing maturities
16
Result is higher production per share

17. Third Quarter 2016 Results
October 27, 2016