Third Quarter 2016 ResultsOctober 27, 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 1995 andforward-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”, “isexpected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variation of such words and phrases or state that certain actions, eventsor 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 whichmay 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-lookingstatements.

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 limitedto: 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 othercommodities to be produced, changes in interest and currency exchange rates, failure of customers or counterparties to perform their contractual obligations, inaccurate geological or metallurgicalassumptions (including with respect to the size, grade and recoverability of mineral reserves and resources), changes in taxation regimes, legal disputes or unanticipated outcomes of legalproceedings, unanticipated operational difficulties (including failure of plant, equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability ofmaterials 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 thefinancial 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 expendituresis 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 spendingplans 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 tosatisfaction 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 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 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 ofenergy 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 theobligation 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 requiredunder applicable securities laws.

2

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

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

34 33

212

5

2826

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)

6476

Site

Transport

Inventory Adj.

Copper Total Cash Unit Costs4

(US$/lb)

Stripping

C1 Unit3

Stripping1.49

1.64

Copper Costs3,4

C1 Unit Costs down US$0.10/lbTotal Cash Unit Costs down US$0.15/lb

Steelmaking Coal Costs2,3

Unit Cost of Sales down US$5/tTotal 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

5.5

7.0

Q3 2015 Q3 2016

6.27.3

Q3 2015 Q3 2016

116 120

Q3 2015 Q3 2016

719

868

Q3 2015 Q3 2016

199

307

Q3 2015 Q3 2016

45 43

30

3634

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%

8477

Site

Transport

Inventory

Total1.5

1.1 3% 21%

54%Record production

6

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

$ / to

nne

Quarterly Contract SettlementArgus FOB Australia

7

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 flowafter 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 UpsideCoal production (Mt) 27.25 27.5Unit Cost of Sales (C$/t):

Site 44 42Transportation 34 33Unit Cost of Sales (C$/t) 78 75

Capitalized Stripping (C$M) 290 290Sustaining Capital (C$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$

Milli

on

HCC Coal Price US$/t

8

8879

Q3 2015 Q3 2016

8477

Q3 2015 Q3 2016

2.422.17

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) andbottom 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

78 83

Q3 2015 Q3 2016

2224

Q3 2015 Q3 2016

138158

Q3 2015 Q3 2016

28 29

Q3 2015 Q3 2016

270

334

Q3 2015 Q3 2016

0.881.02

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 Q41. 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 Refined Conc1

2

20%6 flat

20 5 1

16%

24%

10

0 250 500

Meters

Teena 1

TNDD015

NR

28.0 @ 6.1/0.9 TNDD013

5.8 @ 9.3/1.316.6 @ 7.7/1.3

TNDD012Teena 5NR

3.8 @ 6.9/1.1Teena 2

TNDD014

24.4 @ 14.6/2.39.8 @ 9.4/1.5

TNDD020

20.1 @ 13.0/2.05.2 @ 9.2/1.6

TNDD010

38.8 @ 14.7/2.33.0 @ 4.6/2.96.7 @ 8.2/1.4

TNDD019

31.9 @ 9.9/1.55.0 @ 9.5/1.2

TNDD009

13.1 @ 5.2/0.9Teena 6

22.8 @ 10.3/1.63.8 @ 10.3/0.7

Teena 22

24.2 @ 8.2/1.33.6 @ 8.3/1.3

Teena 17

20.4 @ 11.6/1.84.7 @ 8.5/1.2

TNDD011

Teena 4/Teena 4A4.8 @ 5.5/2.7 (4)8.4 @ 12.9/0.2 (4)8.6 @ 7.1/2.7 (4A)

19.7 @ 12.9/2.07.2 @ 8.0/1.2

TNDD021

Teena 7

5.8 @ 8.1/1.14.9 @ 10.2/1.66.0 @ 5.9/0.9

Teena/Reward Zinc Project

Tene

men

t Bou

ndar

y

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%

NRTeena 8

NR

NR

11

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

0

500

1000

1500

2000

2500

Cash - start ofquarter

Cash flow fromoperations &

working capital

Proceeds fromsale of

investments andother assets

Repayment ofdebt

PP&E, incl. FortHills

Debt interestand financecharges paid

Capitalizedstripping

Other Cash - end ofquarter

Cash Changes in Q3 2016

Cash Flow

37654

175

394

$ M

illion

s

$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

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$1BReduction

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$

Billi

ons

14

Simplified Pricing Adjustment ModelOutstanding atJun. 30, 2016

Outstanding atSep. 30, 2016

QuarterlyPrice

Change

PricingAdjustments

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 2011Q4 2011

Q1 2012

Q2 2012

Q3 2012

Q4 2012Q1 2013

Q2 2013

Q3 2013Q4 2013

Q1 2014

Q2 2014

Q3 2014

Q4 2014

Q1 2015Q2 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-

tax

Settl

emen

t Adj

ustm

ent (

C$M

)

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

15

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

Third Quarter 2016 ResultsOctober 27, 2016