First Quarter 2016 ResultsApril 26, 2016

Forward Looking InformationBoth 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 1995and 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 notexpect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variation of such words and phrases or state that certainactions, 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 andother 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 impliedby 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 things,cost and production forecasts at our business units and individual operations and expectation that we will meet our production guidance, estimated profit and estimated EBITDA, coal salesforecast for the first quarter of 2016, remaining capital investment for Fort Hills, 2016 capital expenditure guidance, plans and expectations for our development projects, the impact ofcurrency exchange rates, sensitivity of EBITDA to exchange rates and demand and market outlook for commodities. These forward-looking statements involve numerous assumptions, risksand 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 ofzinc, 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 governmentalapprovals 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, marketcompetition, 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 arebased, 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 ouremployees and partners and joint venturers, performance by customers and counterparties of their contractual obligations, and the future operational and financial performance of thecompany generally. Assumptions regarding the sensitivity of EBITDA and operating costs to oil prices are based on assumptions regarding the amount of diesel fuel used in our operationsand transporting our coal products is as forecast. Our production guidance is based on our mid-point of 2016 guidance ranges.

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 notlimited 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 andother commodities to be produced, changes in interest and currency exchange rates, failure of customers or counterparties to perform their contractual obligations, inaccurate geological ormetallurgical assumptions (including with respect to the size, grade and recoverability of mineral reserves and resources), changes in taxation regimes, legal disputes or unanticipatedoutcomes of legal proceedings, unanticipated operational difficulties (including failure of plant, equipment or processes to operate in accordance with specifications or expectations, costescalation, unavailability of materials and equipment, government action or delays in the receipt of permits or government approvals, industrial disturbances or other job action, andunanticipated 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 ingeneral 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 effect on our profit and EBITDA will vary with commodity price and exchange rate movements, and sales volumes. The amount and timing of actual capital expenditures is dependentupon 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 plansdepending on commodity markets, results of feasibility studies or various other factors.

Statements concerning future production costs or volumes are based on numerous assumptions of management regarding operating matters and on assumptions that demand for productsdevelops as anticipated, that customers and other counterparties perform their contractual obligations, that operating and capital plans will not be disrupted by issues such as mechanicalfailure, unavailability of parts and supplies, labour disturbances, interruption in transportation or utilities, adverse weather conditions, and that there are no material unanticipated variations inthe 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 notassume 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 asmay be required under applicable securities laws.

2

Executing on Near-Term Priorities

3 1. Teck’s share of sanction capital as of April 25, 20162. Includes cash balance of $1.3B and undrawn US$3B credit facility as of April 25, 2016.

3

• All operations cash flow positive after sustaining capital and capitalized stripping, except Pend Oreille

• Cost management continues to deliver

• $1B of cash funding remaining to complete Fort Hills1

• Strong financial position, with >$5B in liquidity2

Quarterly Results

* Non-GAAP financial measure. See ‘Use of Non-GAAP Financial Measures’ in news release for additional information.

Q1 2016 Results

Revenue $ 1.7 Billion

Gross profit(before depreciation & amortization)

$ 464 Million

EBITDA $ 517 Million

Profit(attributable to shareholders)

$ 94 Million

Adjusted Profit*(attributable to shareholders)

$18 Million$0.03/share

4

1.53 1.29

0.22 0.20

Q1 2015 Q1 2016

39 31

0 112

11

2925

Q1 2015 Q1 2016

Q1 2016 Operational Highlights

Production Q1 2016 Change To Q1 2015

Steelmaking coal (Mt) 6.6 ▼ 0.2

Copper (kt) 82 ▲ 1

Zinc in concentrate4 (kt) 175 ▲ 9

Zinc – refined (kt) 79 ▲ 4

1. Steelmaking coal unit cost of sales include site costs, inventory adjustments and transport costs. Total cash costs are unit cost of sales plus capitalized stripping.

2. Copper C1 unit costs are net of by-product margins. Total cash costs are C1 unit costs plus capitalized stripping.3. As compared with Q1 2015.4. Includes co-product zinc production in our copper business unit.

15%

Coal Total Cash Unit Costs1

(US$/tonne)

6880

Site

Transport

Inventory

Copper Total Cash Unit Costs2

(US$/lb)

15%

StrippingCash3

Stripping 1.491.75

Copper2,3

C1 Unit Costsdown US$0.24/lbTotal Cash Unit Costsdown US$0.26/lb

Steelmaking Coal1,3

Unit Cost of Salesdown US$11/t

Total Cash Unit Costsdown US$12/t

5

49 43

0 1

36 34

Q1 2015 Q1 2016

6.8 6.6

Q1 2015 Q1 2016

295

159

Q1 2015 Q1 2016

6.8 6.5

Q1 2015 Q1 2016

128

102

Q1 2015 Q1 2016

865

665

Q1 2015 Q1 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. Total cash costs are unit cost of sales plus capitalized stripping.

2. Before depreciation and amortization.

In US dollars and including capitalized stripping, total cash costs down US$12/t

20%23%

8%

46%

0.285

78

Site

Transport

Inventory

Total

0.3

6

Steelmaking Coal Market Update

Coal Price Assessments

Spot prices currently above the Q2 quarterly contract price of US$84/t

Source: Platts, Argus, The Steel Index

• Higher price assessments

• Demand improving

• Closures continue

• Supply curtailment announcements in China

556065707580859095

100105110115120125

$ / to

nne

Quarterly Contract SettlementArgus FOB AustraliaTSI Premium HCC FOB Australia

7

7181

Q1 2015 Q1 2016

2.67

2.11

Q1 2015 Q1 2016

523 479

Q1 2015 Q1 2016

81 82

Q1 2015 Q1 2016

1.53

1.29

Q1 2015 Q1 2016

210 180

Q1 2015 Q1 2016

Copper Quarterly Results

Realized Price (US$/lb) Revenue (C$M)

Gross Profit2 (C$M)Production (kt)

Sales (kt)

C1 Unit Costs1 (US$/lb)

Including capitalized stripping, total cash costs1 are down US$0.29/lb

1 xx%

10 21%8%

1. Total site costs include total cash unit costs net of by-product margins, plus capitalized stripping.2. Before depreciation and amortization.

14%

16%

8

Copper Market Perspective

-1,400

-1,200

-1,000

-800

-600

-400

-200

02005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

2016YTD

Thou

sand

tonn

es

Source: Wood Mackenzie

8.5%

Historic Disruptions 7-9% Per Year

4.9%

• Currently a slight oversupply in a ~20 Mt market

• Additional ~2% disruption could balance market

• Post-2016, new supply minimal

• Exchange stocks represent <2 weeks of supply

9

0.97

0.75

Q1 2015 Q1 2016

635 554

Q1 2015 Q1 2016Q1 2015 Q1 2016

73 78

Q1 2015 Q1 2016

179

125

Q1 2015 Q1 2016Q1 2015 Q1 2016

75 79

Q1 2015 Q1 2016

22

27

Q1 2015 Q1 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)

Higher production at Red Dog and Trail1. 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.

RefinedConc1

23%

30%

5

RefinedConc1 Refined Conc1

4 5

20 13%

13

32 33

Q1 2015 Q1 2016

1

120140

165152

10

02004006008001,0001,2001,4001,6001,800

0¢

50¢

100¢

150¢

200¢

250¢

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

LME Stocks SHFE Price

$0

$50

$100

$150

$200

$250

$300

$350

2009 2010 2011 2012 2013 2014 2015 2016

Spot Annual

Spot TCs vs. Realized Annual TCs

Daily Zinc Prices & Stocks

Zinc Market Poised for Change

• Mine closures tightening concentrate supply

• Growing demand expected to outpace supply curtailments

• Declining inventories

• China forced to import zinc metal

• Treatment charges moving significantly in favour of the mines

US¢

/lb

thou

sand

tonn

es

plotted to April 15, 2016

US$

/dm

t

plotted to March 2016

Source: Teck, CRU11

Fort Hills Project Status & Progress

Source: Suncor. Extraction & tailings buildings, Q1 2016.1. Teck’s share of sanction capital.

Construction >55% complete

$1B project capital remaining1

12

0

500

1000

1500

2000

2500

Cash - start ofquarter

Cash flow fromoperations &

working capital

PP&E, incl. FortHills

Debt interest &principal

repayment

Capitalizedstripping

Effect of FXchanges on cash

& cashequivalents

Proceeds fromsale of

investments andother assets

Expenditures onfinancial

investments &distributions tonon-controlling

interests

Cash - end ofquarter

$22

Cash Changes in Q1 2016

Cash Flow

$215

$16

$159

$298

$ M

illion

s

$1,887

$1,485$97

$373

Year-end targets for cash balance of >$500M1, and undrawn US$3B credit facility

1. Assumes current commodity prices and exchange rates, Teck’s 2016 guidance for production, costs and capital expenditures., existing US$ debt levels and no unusual transactions.

13

Q1 2011

Q2 2011

Q4 2011

Q1 2012

Q2 2012

Q3 2012

Q4 2012Q1 2013

Q2 2013

Q3 2013Q4 2013

Q1 2014

Q2 2014

Q3 2014

Q4 2014

Q1 2015

Q2 2015

Q3 2015

Q4 2015

Q1 2016

-150

-100

-50

0

50

100

-$0.75 -$0.25 $0.25 $0.75Pr

e-ta

x Se

ttlem

ent A

djus

tmen

t (C

$M)

Change in Copper & Zinc Price (C$/lbs)

Outstanding atDec. 31, 2015

Outstanding atMar. 31, 2016

QuarterlyPrice

Change

PricingAdjustments

Mlbs US$/lb Mlbs US$/lb US$/lb C$M

Copper 257 2.13 230 2.19 0.06 17

Zinc 162 0.73 109 0.81 0.08 10

Other 0

TOTAL 27

• Positive pricing adjustments of $27M in Q1 2016

• Driven by quarterly change in key commodity prices

Simplified Pricing Adjustment Model

Quarterly Pricing Adjustments

First positive quarterly pricing adjustment since Q2 2014

14

$0

$250

$500

$750

$1,000

$1,250

$1,500

$1,750

$2,000

$2,250

$2,500

$2,750

$3,00020

16

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

2030

2031

2032

2033

2034

2035

2036

2037

2038

2039

2040

2041

2042

2043

US$

M

15

Strong Balance Sheet & Liquidity

• No debt due until 2017− Weighted average maturity ~14 years− Weighted average coupon (interest rate) ~4.8%− Average maturity <US$600M

• Debt to debt-plus-equity ratio 35%2

2017Q1: US$300MQ3: US$300M

Targeting year-end 2016 cash balance of >$500M

1. As at April 25, 2016.2. As at March 31, 2016.

Liquidity of >$5B, including unused US$3B line of credit1

Near-Term Priorities

• Keep operations cash flow positive

• Fund 2016 portion of Fort Hills from internal sources

• Maintain a strong financial position

16

First Quarter 2016 ResultsApril 26, 2016