<SEC-DOCUMENT>0000950142-23-001230.txt : 20230428
<SEC-HEADER>0000950142-23-001230.hdr.sgml : 20230428
<ACCEPTANCE-DATETIME>20230427190347
ACCESSION NUMBER:		0000950142-23-001230
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20230425
FILED AS OF DATE:		20230428
DATE AS OF CHANGE:		20230427

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TECK RESOURCES LTD
		CENTRAL INDEX KEY:			0000886986
		STANDARD INDUSTRIAL CLASSIFICATION:	MINING, QUARRYING OF NONMETALLIC MINERALS (NO FUELS) [1400]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13184
		FILM NUMBER:		23859349

	BUSINESS ADDRESS:	
		STREET 1:		550 BURRARD ST
		STREET 2:		SUITE 3300, BENTALL 5
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 0B3
		BUSINESS PHONE:		604-699-4000

	MAIL ADDRESS:	
		STREET 1:		550 BURRARD ST
		STREET 2:		SUITE 3300, BENTALL 5
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 0B3

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TECK COMINCO LTD
		DATE OF NAME CHANGE:	19940623
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>eh230353540_6k-q0123.htm
<DESCRIPTION>FORM 6-K
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">FORM 6-K</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER </B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>PURSUANT TO RULE 13a-16 OR 15d-16 </B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>UNDER THE SECURITIES EXCHANGE ACT OF 1934</B></P>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B></B></P>



<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center">For the month of April 2023</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">Commission File Number: 001-13184</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>TECK RESOURCES LIMITED</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">(Exact name of registrant as specified in its
charter)</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Suite 3300 &ndash; 550 Burrard Street</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Vancouver, British Columbia V6C 0B3</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">(Address of principal executive offices)</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: left; text-indent: 0.3in">Indicate by check mark whether
the registrant files or will file annual reports under cover of Form&nbsp;20-F or Form&nbsp;40-F.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">Form 20-F <FONT STYLE="font-size: 12pt">&#9744;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;Form
40-F <FONT STYLE="font-size: 12pt">&#9746;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 2.5in; text-align: center; text-indent: -2.5in"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 2.5in; text-indent: -2.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 2.5in; text-indent: -2.5in">&nbsp;</P>

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    <TD STYLE="width: 15%; layout-grid-mode: line"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B><U>Exhibit
    Number</U></B></FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 83%; layout-grid-mode: line"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B><U>Description</U></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">99.1</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><A HREF="eh230353540_ex9901.htm">Press Release dated April 25, 2023 (23-36-TR Q1-Newswire)</A></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">99.2</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><A HREF="eh230353540_ex9902.htm">Press Release dated April 25, 2023 (23-36-TR Q1-Long Accounting)</A></FONT></TD></TR>
</TABLE>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"></P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"></P>

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<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">SIGNATURE</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: left; text-indent: 0.3in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt CG Omega; width: 100%; border-collapse: collapse">
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    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Teck Resources Limited</B></FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(Registrant)</FONT></TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="width: 5%; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="width: 35%; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="width: 10%; layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Date: April 26,
    2023</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; layout-grid-mode: line"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">/s/ Amanda R. Robinson</FONT></TD>
    <TD STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><U></U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Amanda R. Robinson</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Corporate Secretary</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>eh230353540_ex9901.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #35495E"><FONT STYLE="color: Black"><B>EXHIBIT
99.1</B></FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0; color: rgb(53,73,94)"><B>Teck Reports Unaudited First Quarter Results for 2023</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0pt 12pt; color: rgb(53,73,94)"><FONT STYLE="background-color: white">Significant
milestones achieved in copper growth strategy and strong financial results in the first quarter</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849">VANCOUVER,
British Columbia, April 25, 2023 (GLOBE NEWSWIRE) -- Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (Teck) today announced
its unaudited first quarter results for 2023.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849">&ldquo;We
had a positive start to the year with strong financial performance in the first quarter driven by strong commodity prices and steelmaking
coal sales,&rdquo; said Jonathan Price, CEO. &ldquo;We achieved a number of significant milestones in our copper growth strategy this
quarter including first copper concentrate production at QB2, the cornerstone of our copper growth strategy, while making advances across
our pipeline of near and medium-term projects. The progress in our copper growth pipeline reinforces the underlying value and optionality
in our base metals business.&rdquo;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849"><B>Highlights</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; margin-bottom: 10pt"><TR STYLE="vertical-align: top"><TD STYLE="width: 20px"></TD><TD STYLE="width: 20px">&#8226;</TD><TD>Adjusted
profit attributable to shareholders1&nbsp;of $930 million or $1.81 per share in Q1 2023.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; margin-bottom: 10pt"><TR STYLE="vertical-align: top"><TD STYLE="width: 20px"></TD><TD STYLE="width: 20px">&#8226;</TD><TD>Profit
from continuing operations attributable to shareholders1&nbsp;of $1.2 billion or $2.27 per share in Q1 2023.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; margin-bottom: 10pt"><TR STYLE="vertical-align: top"><TD STYLE="width: 20px"></TD><TD STYLE="width: 20px">&#8226;</TD><TD>Adjusted
EBITDA1&nbsp;was $2.0 billion in Q1 2023 driven by continued robust commodity prices and&nbsp;strong steelmaking coal sales
volumes. Profit from continuing operations before taxes was $1.9 billion in Q1 2023.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; margin-bottom: 10pt"><TR STYLE="vertical-align: top"><TD STYLE="width: 20px"></TD><TD STYLE="width: 20px">&#8226;</TD><TD>We
generated cash flows from operations of $1.1 billion in the quarter, ending with a cash balance of $2.3 billion. Our liquidity as at
April&nbsp;25, 2023 is $8.0&nbsp;billion, including $2.6<B>&nbsp;</B>billion of cash.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; margin-bottom: 10pt"><TR STYLE="vertical-align: top"><TD STYLE="width: 20px"></TD><TD STYLE="width: 20px">&#8226;</TD><TD>We
returned $321 million to shareholders through dividends in Q1 2023.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; margin-bottom: 10pt"><TR STYLE="vertical-align: top"><TD STYLE="width: 20px"></TD><TD STYLE="width: 20px">&#8226;</TD><TD>At
QB2, we have produced our first bulk copper concentrate, continue to advance commissioning and will ramp-up to full production through
2023.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; margin-bottom: 10pt"><TR STYLE="vertical-align: top"><TD STYLE="width: 20px"></TD><TD STYLE="width: 20px">&#8226;</TD><TD>We
successfully closed transactions related to the joint venture partnerships for the NewRange and San Nicol&aacute;s projects, which are
key milestones in advancing our copper growth strategy, and the sales of Quintette and our interest in Fort Hills.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849"><FONT STYLE="background-color: white">Note:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="background-color: white">1.</FONT></TD><TD STYLE="width: 5pt"></TD><TD><FONT STYLE="background-color: white">This is a non-GAAP financial measure or ratio. See
&ldquo;<I>Use of</I>&nbsp;<I>Non-GAAP Financial Measures and Ratios</I>&rdquo; for further information.</FONT></TD>
</TR></TABLE>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849"><FONT STYLE="background-color: white"><B>Financial
Summary Q1 2023</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; color: #293849; font-weight: bold">Financial Metrics<BR> (CAD$ in millions, except per share data)</TD><TD STYLE="border-bottom: Black 1pt solid; color: #293849; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; color: #293849; font-weight: bold; text-align: center">Q1 2023</TD><TD STYLE="text-align: center; border-bottom: Black 1pt solid; color: #293849">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; color: #293849; text-align: center">Q1 2022</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 72%; color: #293849">Revenue</TD><TD STYLE="width: 2%; color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; color: #293849; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; color: #293849; font-weight: bold; text-align: right">3,785</TD><TD STYLE="width: 1%; color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; color: #293849">&nbsp;</TD>
    <TD STYLE="width: 1%; color: #293849; text-align: left">$</TD><TD STYLE="width: 10%; color: #293849; text-align: right">4,616</TD><TD STYLE="width: 1%; color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: #293849; text-align: left">Gross profit</TD><TD STYLE="color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #293849; font-weight: bold; text-align: left">$</TD><TD STYLE="color: #293849; font-weight: bold; text-align: right">1,666</TD><TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849">&nbsp;</TD>
    <TD STYLE="color: #293849; text-align: left">$</TD><TD STYLE="color: #293849; text-align: right">2,478</TD><TD STYLE="color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="color: #293849; text-align: left">Gross profit before depreciation and amortization1</TD><TD STYLE="color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #293849; font-weight: bold; text-align: left">$</TD><TD STYLE="color: #293849; font-weight: bold; text-align: right">2,089</TD><TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849">&nbsp;</TD>
    <TD STYLE="color: #293849; text-align: left">$</TD><TD STYLE="color: #293849; text-align: right">2,893</TD><TD STYLE="color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: #293849; text-align: left">Profit from continuing operations before taxes</TD><TD STYLE="color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #293849; font-weight: bold; text-align: left">$</TD><TD STYLE="color: #293849; font-weight: bold; text-align: right">1,856</TD><TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849">&nbsp;</TD>
    <TD STYLE="color: #293849; text-align: left">$</TD><TD STYLE="color: #293849; text-align: right">2,368</TD><TD STYLE="color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="color: #293849">Adjusted EBITDA1</TD><TD STYLE="color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #293849; font-weight: bold; text-align: left">$</TD><TD STYLE="color: #293849; font-weight: bold; text-align: right">1,972</TD><TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849">&nbsp;</TD>
    <TD STYLE="color: #293849; text-align: left">$</TD><TD STYLE="color: #293849; text-align: right">3,044</TD><TD STYLE="color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: #293849; text-align: left">Profit from continuing operations attributable to shareholders</TD><TD STYLE="color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #293849; font-weight: bold; text-align: left">$</TD><TD STYLE="color: #293849; font-weight: bold; text-align: right">1,166</TD><TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849">&nbsp;</TD>
    <TD STYLE="color: #293849; text-align: left">$</TD><TD STYLE="color: #293849; text-align: right">1,519</TD><TD STYLE="color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="color: #293849; text-align: left">Adjusted profit attributable to shareholders1</TD><TD STYLE="color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #293849; font-weight: bold; text-align: left">$</TD><TD STYLE="color: #293849; font-weight: bold; text-align: right">930</TD><TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849">&nbsp;</TD>
    <TD STYLE="color: #293849; text-align: left">$</TD><TD STYLE="color: #293849; text-align: right">1,620</TD><TD STYLE="color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: #293849; text-align: left">Basic earnings per share from continuing operations</TD><TD STYLE="color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #293849; font-weight: bold; text-align: left">$</TD><TD STYLE="color: #293849; font-weight: bold; text-align: right">2.27</TD><TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849">&nbsp;</TD>
    <TD STYLE="color: #293849; text-align: left">$</TD><TD STYLE="color: #293849; text-align: right">2.84</TD><TD STYLE="color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="color: #293849; text-align: left">Diluted earnings per share from continuing operations</TD><TD STYLE="color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #293849; font-weight: bold; text-align: left">$</TD><TD STYLE="color: #293849; font-weight: bold; text-align: right">2.23</TD><TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849">&nbsp;</TD>
    <TD STYLE="color: #293849; text-align: left">$</TD><TD STYLE="color: #293849; text-align: right">2.78</TD><TD STYLE="color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: #293849; text-align: left">Adjusted basic earnings per share1</TD><TD STYLE="color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #293849; font-weight: bold; text-align: left">$</TD><TD STYLE="color: #293849; font-weight: bold; text-align: right">1.81</TD><TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849">&nbsp;</TD>
    <TD STYLE="color: #293849; text-align: left">$</TD><TD STYLE="color: #293849; text-align: right">3.02</TD><TD STYLE="color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 3pt solid; color: #293849; text-align: left">Adjusted diluted earnings per share1</TD><TD STYLE="border-bottom: Black 3pt solid; color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: #293849; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: #293849; font-weight: bold; text-align: right">1.78</TD><TD STYLE="border-bottom: Black 3pt solid; color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; color: #293849">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: #293849; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: #293849; text-align: right">2.96</TD><TD STYLE="border-bottom: Black 3pt solid; color: #293849; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #293849"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; color: #293849"><FONT STYLE="background-color: white">Note:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="background-color: white">1.</FONT></TD><TD STYLE="width: 5pt"></TD><TD><FONT STYLE="background-color: white">This is a non-GAAP financial measure or ratio. See
&ldquo;<I>Use of</I>&nbsp;<I>Non-GAAP Financial Measures and Ratios</I>&rdquo; for further information.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 12pt; margin-right: 0pt; margin-left: 0pt; color: #293849"><B>Key
Updates</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849"><B>Executing
on our copper growth strategy &ndash; QB2 a long-life, low-cost operation with major expansion potential</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; margin-bottom: 10pt"><TR STYLE="vertical-align: top"><TD STYLE="width: 20px"></TD><TD STYLE="width: 20px">&#8226;</TD><TD>QB2
is in commissioning of Line 1 at the concentrator and our focus continues to be on system completion and handover as part of the continuous
commissioning and ramp-up plan through 2023.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; margin-bottom: 10pt"><TR STYLE="vertical-align: top"><TD STYLE="width: 20px"></TD><TD STYLE="width: 20px">&#8226;</TD><TD>The
start of Line 1 commissioning commenced in January; however, our first copper milestone was not achieved until late March.&nbsp; This
delay, combined with recent foreign exchange impacts, has resulted in pressure on our project capital cost guidance for QB2 which could
increase total capital costs for the project to US$8.0 to $8.2 billion. Over 30% of the increase from our previously disclosed guidance
relates to non-controllable foreign exchange impacts.&nbsp;Significant efforts are ongoing to mitigate the cost pressures.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; margin-bottom: 10pt"><TR STYLE="vertical-align: top"><TD STYLE="width: 20px"></TD><TD STYLE="width: 20px">&#8226;</TD><TD>Our
2023 production guidance is unchanged and we continue to expect QB2 to be operating at full production rates by the end of 2023.</TD></TR></TABLE>
<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="margin: 0"></P>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849"><B>Safety
and&nbsp;Sustainability Leadership</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; margin-bottom: 10pt"><TR STYLE="vertical-align: top"><TD STYLE="width: 20px"></TD><TD STYLE="width: 20px">&#8226;</TD><TD>Our
High Potential Incident Frequency remained low at a rate of 0.10&nbsp;in the first quarter.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; margin-bottom: 10pt"><TR STYLE="vertical-align: top"><TD STYLE="width: 20px"></TD><TD STYLE="width: 20px">&#8226;</TD><TD>We&nbsp;<FONT STYLE="color: Blue"><U>issued
                                            a report</U></FONT>&nbsp;on our low-carbon Special High Grade (SHG) refined zinc product,
                                            confirming each tonne of SHG zinc from Trail Operations generates 0.93 tonnes of carbon dioxide
                                            equivalent (CO2e) compared to the estimated global average of 3 &mdash; 4 tonnes of CO2e
                                            per tonne.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; margin-bottom: 10pt"><TR STYLE="vertical-align: top"><TD STYLE="width: 20px"></TD><TD STYLE="width: 20px">&#8226;</TD><TD>We
                                            released our 22nd&nbsp;Annual&nbsp;<FONT STYLE="color: Blue"><U>Sustainability Report</U></FONT>,
                                            outlining Teck&rsquo;s sustainability performance including improvements in health &amp;
                                            safety, climate action, diversity and other areas.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849"><B>Guidance</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; margin-bottom: 10pt"><TR STYLE="vertical-align: top"><TD STYLE="width: 20px"></TD><TD STYLE="width: 20px">&#8226;</TD><TD>There
has been no change in our previously issued annual guidance, with the exception of QB2 capital cost guidance, as noted above. Our guidance
is outlined in summary below and our usual guidance tables, including three-year production guidance, can be found on pages 27 &mdash;
31<B>&nbsp;</B>of Teck&rsquo;s first quarter results for 2023 at the link below.</TD></TR></TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; width: 85%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849"><B>2023 Guidance &ndash; Summary</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 15%; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849"><B>Current&nbsp;</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849"><B>Production Guidance</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849">Copper (000&rsquo;s tonnes)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849">390 - 445</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849">Zinc (000&rsquo;s tonnes)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849">645 - 685</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849">Refined zinc (000&rsquo;s tonnes)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849">270 - 290</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849">Steelmaking coal (million tonnes)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849">24.0 - 26.0</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849"><B>Sales Guidance &ndash;&nbsp;Q2</B>&nbsp;<B>2023</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849">Red Dog zinc in concentrate sales (000&rsquo;s tonnes)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849">45 - 55</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849">Steelmaking coal sales (million tonnes)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849">6.2 - 6.6</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849"><B>Unit Cost Guidance</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849">Copper net cash unit costs (US$/lb.)1 2</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849">1.60 - 1.80</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849">Zinc net cash unit costs (US$/lb.)1</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849">0.50 - 0.60</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849">Steelmaking coal adjusted site cash cost of sales (CAD$/tonne)1</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849">88 - 96</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; border-bottom: Black 3pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849">Steelmaking coal transportation costs (CAD$/tonne)</FONT></TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849">45 - 48</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt; color: #293849">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; color: #293849">Notes:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: right">1.</TD><TD STYLE="width: 5pt"></TD><TD>This is a non-GAAP financial measure or ratio. See &ldquo;<I>Use of</I>&nbsp;<I>Non-GAAP
Financial Measures and Ratios</I>&rdquo; for further information.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: right">2.</TD><TD STYLE="width: 5pt"></TD><TD>Excludes Quebrada Blanca.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0; background-color: white">&nbsp;</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0; background-color: white"><FONT STYLE="color: Blue"><U>Click
here</U></FONT><FONT STYLE="color: #293849">&nbsp;to view Teck&rsquo;s full first quarter results for 2023.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849"><B>WEBCAST</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0; background-color: white"><FONT STYLE="color: #293849">Teck
will host an Investor Conference Call to discuss its Q1/2023 financial results at 11:00 AM Eastern time, 8:00 AM Pacific time, on&nbsp;<B>April&nbsp;26,
2023</B>. A live audio webcast of the conference call, together with supporting presentation slides, will be available at our website
at&nbsp;</FONT><FONT STYLE="color: Blue"><U>www.teck.com</U></FONT><FONT STYLE="color: #293849">. The webcast will be archived at&nbsp;</FONT><FONT STYLE="color: Blue"><U>www.teck.com</U></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849">Reference:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849">Fraser
Phillips, Senior Vice President, Investor Relations and Strategic Analysis: 604.699.4621</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849">Chris
Stannell, Public Relations Manager: 604.699.4368</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849"><B>USE
OF NON-GAAP FINANCIAL MEASURES AND RATIOS</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849">Our
financial results are prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting
Standards Board. This document refers to a number of non-GAAP financial measures and non-GAAP ratios which are not measures recognized
under IFRS and do not have a standardized meaning prescribed by IFRS or by Generally Accepted Accounting Principles (GAAP) in the United
States.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849">The
non-GAAP financial measures and non-GAAP ratios described below do not have standardized meanings under IFRS, may differ from those used
by other issuers, and may not be comparable to similar financial measures and ratios reported 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.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849"><B>Adjusted
profit attributable to shareholders</B>&nbsp;&ndash; For adjusted profit attributable to shareholders, we adjust profit (loss) attributable
to shareholders as reported to remove the after-tax effect of certain types of transactions that reflect measurement changes on our balance
sheet or are not indicative of our normal operating activities.</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0; color: #293849"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849"><B>EBITDA</B>&nbsp;&ndash;
EBITDA is profit before net finance expense, provision for income taxes, and depreciation and amortization.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849"><B>Adjusted
EBITDA</B>&nbsp;&ndash; Adjusted EBITDA is EBITDA before the pre-tax effect of the adjustments that we make to adjusted profit attributable
to shareholders as described above.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849">Adjusted
profit attributable to shareholders, EBITDA, and Adjusted EBITDA highlight items and allow us and readers to analyze the rest of our results
more clearly. We believe that disclosing these measures assists readers in understanding the ongoing cash generating potential of our
business in order to provide liquidity to fund working capital needs, service outstanding debt, fund future capital expenditures and investment
opportunities, and pay dividends.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849"><B>Adjusted
basic earnings per share&nbsp;</B>&ndash; Adjusted basic earnings per share is adjusted profit attributable to shareholders divided by
average number of shares outstanding in the period.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849"><B>Adjusted
diluted earnings per share&nbsp;</B>&ndash; Adjusted diluted earnings per share is adjusted profit attributable to shareholders divided
by average number of fully diluted shares in a period.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849"><B>Gross
profit before depreciation and amortization</B>&nbsp;&ndash; Gross profit before depreciation and amortization is gross profit with depreciation
and amortization expense added back. We believe this measure assists us and readers to assess our ability to generate cash flow from our
business units or operations.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849"><B>Unit
costs&nbsp;</B>&ndash; Unit costs for our steelmaking coal operations are total cost of goods sold, divided by tonnes sold in the period,
excluding depreciation and amortization charges. We include this information as it is frequently requested by investors and investment
analysts who use it to assess our cost structure and margins and compare it to similar information provided by many companies in the industry.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849"><B>Adjusted
site cash cost of sales</B>&nbsp;&ndash; 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.</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0; color: #293849"></P>



<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849"><B>Total
cash unit costs</B>&nbsp;&ndash; 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 presentation 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.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849"><B>Net
cash unit costs</B>&nbsp;&ndash; 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.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849"><B>Adjusted
cash cost of sales</B>&nbsp;&ndash; 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.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849"><B>Adjusted
site cash cost of sales per tonne</B>&nbsp;&ndash; Adjusted site cash cost of sales per tonne is a non-GAAP ratio comprised of adjusted
site cash cost of sales divided by tonnes sold. There is no similar financial measure in our consolidated financial statements with which
to compare. Adjusted site cash cost of sales is a non-GAAP financial measure.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849"><B>Profit
Attributable to Shareholders and Adjusted Profit Attributable to Shareholders</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: #293849">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="border-bottom: Black 1pt solid; color: #293849; text-align: center">Three months ended <BR> March 31,</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; color: #293849">(CAD$ in millions)</TD><TD STYLE="border-bottom: Black 1pt solid; color: #293849; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; color: #293849; font-weight: bold; text-align: center">2023</TD><TD STYLE="text-align: center; border-bottom: Black 1pt solid; color: #293849">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; color: #293849; text-align: center">2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 8pt">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 8pt">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 8pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 72%; color: #293849; font-weight: bold; text-align: left">Profit from continuing operations attributable to shareholders</TD><TD STYLE="width: 2%; color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; color: #293849; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; color: #293849; font-weight: bold; text-align: right">1,166</TD><TD STYLE="width: 1%; color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; color: #293849">&nbsp;</TD>
    <TD STYLE="width: 1%; color: #293849; text-align: left">$</TD><TD STYLE="width: 10%; color: #293849; text-align: right">1,519</TD><TD STYLE="width: 1%; color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: #293849; text-align: left">Add (deduct) on an after-tax basis1:</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt; color: #293849; text-align: left">QB2 variable consideration to IMSA and ENAMI</TD><TD STYLE="color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; font-weight: bold; text-align: right">2</TD><TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849">&nbsp;</TD>
    <TD STYLE="color: #293849; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; text-align: right">59</TD><TD STYLE="color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; color: #293849; text-align: left">Environmental costs</TD><TD STYLE="color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; font-weight: bold; text-align: right">13</TD><TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849">&nbsp;</TD>
    <TD STYLE="color: #293849; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; text-align: right">(60</TD><TD STYLE="color: #293849; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt; color: #293849; text-align: left">Share-based compensation</TD><TD STYLE="color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; font-weight: bold; text-align: right">18</TD><TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849">&nbsp;</TD>
    <TD STYLE="color: #293849; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; text-align: right">82</TD><TD STYLE="color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; color: #293849; text-align: left">Commodity derivatives</TD><TD STYLE="color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; font-weight: bold; text-align: right">(4</TD><TD STYLE="color: #293849; font-weight: bold; text-align: left">)</TD><TD STYLE="color: #293849">&nbsp;</TD>
    <TD STYLE="color: #293849; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; text-align: right">(37</TD><TD STYLE="color: #293849; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt; color: #293849; text-align: left">Loss (gain) on sale or contribution of assets</TD><TD STYLE="color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; font-weight: bold; text-align: right">(186</TD><TD STYLE="color: #293849; font-weight: bold; text-align: left">)</TD><TD STYLE="color: #293849">&nbsp;</TD>
    <TD STYLE="color: #293849; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; text-align: right">1</TD><TD STYLE="color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; color: #293849; text-align: left">Elkview business interruption claim</TD><TD STYLE="color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; font-weight: bold; text-align: right">(68</TD><TD STYLE="color: #293849; font-weight: bold; text-align: left">)</TD><TD STYLE="color: #293849">&nbsp;</TD>
    <TD STYLE="color: #293849; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt; color: #293849; text-align: left">Profit from discontinued operations2</TD><TD STYLE="color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; font-weight: bold; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849">&nbsp;</TD>
    <TD STYLE="color: #293849; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; text-align: right">52</TD><TD STYLE="color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 10pt; color: #293849">Other</TD><TD STYLE="border-bottom: Black 1pt solid; color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: #293849; font-weight: bold; text-align: right">(11</TD><TD STYLE="border-bottom: Black 1pt solid; color: #293849; font-weight: bold; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid; color: #293849">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: #293849; text-align: right">4</TD><TD STYLE="border-bottom: Black 1pt solid; color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; color: #293849; font-weight: bold; text-align: left">Adjusted profit attributable to shareholders</TD><TD STYLE="border-bottom: Black 1pt solid; color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #293849; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: #293849; font-weight: bold; text-align: right">930</TD><TD STYLE="border-bottom: Black 1pt solid; color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: #293849">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #293849; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: #293849; text-align: right">1,620</TD><TD STYLE="border-bottom: Black 1pt solid; color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 8pt">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="color: #293849; font-weight: bold; text-align: left">Basic earnings per share from continuing operations</TD><TD STYLE="color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #293849; font-weight: bold; text-align: left">$</TD><TD STYLE="color: #293849; font-weight: bold; text-align: right">2.27</TD><TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849">&nbsp;</TD>
    <TD STYLE="color: #293849; text-align: left">$</TD><TD STYLE="color: #293849; text-align: right">2.84</TD><TD STYLE="color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: #293849; font-weight: bold; text-align: left">Diluted earnings per share from continuing operations</TD><TD STYLE="color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #293849; font-weight: bold; text-align: left">$</TD><TD STYLE="color: #293849; font-weight: bold; text-align: right">2.23</TD><TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849">&nbsp;</TD>
    <TD STYLE="color: #293849; text-align: left">$</TD><TD STYLE="color: #293849; text-align: right">2.78</TD><TD STYLE="color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="color: #293849; font-weight: bold">Adjusted basic earnings per share</TD><TD STYLE="color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #293849; font-weight: bold; text-align: left">$</TD><TD STYLE="color: #293849; font-weight: bold; text-align: right">1.81</TD><TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849">&nbsp;</TD>
    <TD STYLE="color: #293849; text-align: left">$</TD><TD STYLE="color: #293849; text-align: right">3.02</TD><TD STYLE="color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 3pt solid; color: #293849; font-weight: bold">Adjusted diluted earnings per share</TD><TD STYLE="border-bottom: Black 3pt solid; color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: #293849; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: #293849; font-weight: bold; text-align: right">1.78</TD><TD STYLE="border-bottom: Black 3pt solid; color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; color: #293849">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: #293849; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: #293849; text-align: right">2.96</TD><TD STYLE="border-bottom: Black 3pt solid; color: #293849; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 10pt 0pt; color: #293849">Notes:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: right">1.</TD><TD STYLE="width: 5pt"></TD><TD>Adjustments for the three months ended March 31, 2022 are as previously reported.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: right">2.</TD><TD STYLE="width: 5pt"></TD><TD>Adjustment required to remove the effect of discontinued operations for the three months
ended March 31, 2022.</TD>
</TR></TABLE>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0; color: #293849"><B>Reconciliation
of Basic Earnings per share to Adjusted Basic Earnings per share</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="border-bottom: Black 1pt solid; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                               <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; color: #293849">(Per share amounts)</TD><TD STYLE="border-bottom: Black 1pt solid; color: #293849; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; color: #293849; font-weight: bold; text-align: center">2023</TD><TD STYLE="border-bottom: Black 1pt solid; color: #293849">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; color: #293849; text-align: center">2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 8pt">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 8pt">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 8pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 72%; color: #293849; font-weight: bold; text-align: left">Basic earnings per share from continuing operations</TD><TD STYLE="width: 2%; color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; color: #293849; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; color: #293849; font-weight: bold; text-align: right">2.27</TD><TD STYLE="width: 1%; color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; color: #293849">&nbsp;</TD>
    <TD STYLE="width: 1%; color: #293849; text-align: left">$</TD><TD STYLE="width: 10%; color: #293849; text-align: right">2.84</TD><TD STYLE="width: 1%; color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: #293849; text-align: left">Add (deduct)1:</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt; color: #293849; text-align: left">QB2 variable consideration to IMSA and ENAMI</TD><TD STYLE="color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; font-weight: bold; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849">&nbsp;</TD>
    <TD STYLE="color: #293849; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; text-align: right">0.11</TD><TD STYLE="color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; color: #293849; text-align: left">Environmental costs</TD><TD STYLE="color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; font-weight: bold; text-align: right">0.03</TD><TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849">&nbsp;</TD>
    <TD STYLE="color: #293849; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; text-align: right">(0.11</TD><TD STYLE="color: #293849; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt; color: #293849; text-align: left">Share-based compensation</TD><TD STYLE="color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; font-weight: bold; text-align: right">0.03</TD><TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849">&nbsp;</TD>
    <TD STYLE="color: #293849; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; text-align: right">0.15</TD><TD STYLE="color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; color: #293849; text-align: left">Commodity derivatives</TD><TD STYLE="color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; font-weight: bold; text-align: right">(0.01</TD><TD STYLE="color: #293849; font-weight: bold; text-align: left">)</TD><TD STYLE="color: #293849">&nbsp;</TD>
    <TD STYLE="color: #293849; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; text-align: right">(0.07</TD><TD STYLE="color: #293849; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt; color: #293849; text-align: left">Loss (gain) on sale or contribution of assets</TD><TD STYLE="color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; font-weight: bold; text-align: right">(0.36</TD><TD STYLE="color: #293849; font-weight: bold; text-align: left">)</TD><TD STYLE="color: #293849">&nbsp;</TD>
    <TD STYLE="color: #293849; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; color: #293849; text-align: left">Elkview business interruption claim</TD><TD STYLE="color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; font-weight: bold; text-align: right">(0.13</TD><TD STYLE="color: #293849; font-weight: bold; text-align: left">)</TD><TD STYLE="color: #293849">&nbsp;</TD>
    <TD STYLE="color: #293849; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt; color: #293849; text-align: left">Profit from discontinued operations2</TD><TD STYLE="color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; font-weight: bold; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849">&nbsp;</TD>
    <TD STYLE="color: #293849; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; text-align: right">0.09</TD><TD STYLE="color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; border-bottom: Black 1pt solid; color: #293849">Other</TD><TD STYLE="border-bottom: Black 1pt solid; color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: #293849; font-weight: bold; text-align: right">(0.02</TD><TD STYLE="border-bottom: Black 1pt solid; color: #293849; font-weight: bold; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid; color: #293849">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: #293849; text-align: right">0.01</TD><TD STYLE="border-bottom: Black 1pt solid; color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 3pt solid; color: #293849; font-weight: bold">Adjusted basic earnings per share</TD><TD STYLE="border-bottom: Black 3pt solid; color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: #293849; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: #293849; font-weight: bold; text-align: right">1.81</TD><TD STYLE="border-bottom: Black 3pt solid; color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; color: #293849">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: #293849; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: #293849; text-align: right">3.02</TD><TD STYLE="border-bottom: Black 3pt solid; color: #293849; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; color: #293849"></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; color: #293849"><FONT STYLE="background-color: white"><B>Reconciliation
of Diluted Earnings per share to Adjusted Diluted Earnings per share</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="border-bottom: Black 1pt solid; text-align: center">Three months ended <BR>March 31,</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; color: #293849">(Per share amounts)</TD><TD STYLE="border-bottom: Black 1pt solid; color: #293849; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; color: #293849; font-weight: bold; text-align: center">2023</TD><TD STYLE="border-bottom: Black 1pt solid; color: #293849">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; color: #293849; text-align: center">2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 8pt">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 8pt">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 8pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 72%; color: #293849; font-weight: bold; text-align: left">Diluted earnings per share from continuing operations</TD><TD STYLE="width: 2%; color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; color: #293849; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; color: #293849; font-weight: bold; text-align: right">2.23</TD><TD STYLE="width: 1%; color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; color: #293849">&nbsp;</TD>
    <TD STYLE="width: 1%; color: #293849; text-align: left">$</TD><TD STYLE="width: 10%; color: #293849; text-align: right">2.78</TD><TD STYLE="width: 1%; color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: #293849; text-align: left">Add (deduct)1:</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt; color: #293849; text-align: left">QB2 variable consideration to IMSA and ENAMI</TD><TD STYLE="color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; font-weight: bold; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849">&nbsp;</TD>
    <TD STYLE="color: #293849; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; text-align: right">0.11</TD><TD STYLE="color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; color: #293849; text-align: left">Environmental costs</TD><TD STYLE="color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; font-weight: bold; text-align: right">0.03</TD><TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849">&nbsp;</TD>
    <TD STYLE="color: #293849; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; text-align: right">(0.11</TD><TD STYLE="color: #293849; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt; color: #293849; text-align: left">Share-based compensation</TD><TD STYLE="color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; font-weight: bold; text-align: right">0.03</TD><TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849">&nbsp;</TD>
    <TD STYLE="color: #293849; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; text-align: right">0.15</TD><TD STYLE="color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; color: #293849; text-align: left">Commodity derivatives</TD><TD STYLE="color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; font-weight: bold; text-align: right">(0.01</TD><TD STYLE="color: #293849; font-weight: bold; text-align: left">)</TD><TD STYLE="color: #293849">&nbsp;</TD>
    <TD STYLE="color: #293849; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; text-align: right">(0.07</TD><TD STYLE="color: #293849; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt; color: #293849; text-align: left">Loss (gain) on sale or contribution of assets</TD><TD STYLE="color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; font-weight: bold; text-align: right">(0.36</TD><TD STYLE="color: #293849; font-weight: bold; text-align: left">)</TD><TD STYLE="color: #293849">&nbsp;</TD>
    <TD STYLE="color: #293849; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; color: #293849; text-align: left">Elkview business interruption claim</TD><TD STYLE="color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; font-weight: bold; text-align: right">(0.13</TD><TD STYLE="color: #293849; font-weight: bold; text-align: left">)</TD><TD STYLE="color: #293849">&nbsp;</TD>
    <TD STYLE="color: #293849; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt; color: #293849; text-align: left">Profit from discontinued operations2</TD><TD STYLE="color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; font-weight: bold; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #293849">&nbsp;</TD>
    <TD STYLE="color: #293849; text-align: left">&nbsp;</TD><TD STYLE="color: #293849; text-align: right">0.09</TD><TD STYLE="color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; border-bottom: Black 1pt solid; color: #293849">Other</TD><TD STYLE="border-bottom: Black 1pt solid; color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: #293849; font-weight: bold; text-align: right">(0.01</TD><TD STYLE="border-bottom: Black 1pt solid; color: #293849; font-weight: bold; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid; color: #293849">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: #293849; text-align: right">0.01</TD><TD STYLE="border-bottom: Black 1pt solid; color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 3pt solid; color: #293849; font-weight: bold">Adjusted diluted earnings per share</TD><TD STYLE="border-bottom: Black 3pt solid; color: #293849; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: #293849; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: #293849; font-weight: bold; text-align: right">1.78</TD><TD STYLE="border-bottom: Black 3pt solid; color: #293849; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; color: #293849">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: #293849; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: #293849; text-align: right">2.96</TD><TD STYLE="border-bottom: Black 3pt solid; color: #293849; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 10pt 0pt; color: #293849">Notes:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: right">1.</TD><TD STYLE="width: 5pt"></TD><TD>Adjustments for the three months ended March 31, 2022 are as previously reported.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: right">2.</TD><TD STYLE="width: 5pt"></TD><TD>Adjustment required to remove the effect of discontinued operations for the three months
ended March 31, 2022.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 10pt; margin-right: 0pt; margin-left: 0pt; color: #293849"><B>Reconciliation
of EBITDA and Adjusted EBITDA</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 8pt Calibri, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="7" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Three months
    ended <BR>March 31,</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849">(CAD$ in millions)</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: center">2023</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: center">2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 72%; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">Profit from continuing operations before taxes</TD><TD STYLE="width: 2%; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="width: 1%; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">$</TD><TD STYLE="width: 10%; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">1,856</TD><TD STYLE="width: 1%; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">2,368</TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">Finance expense net of finance income</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">30</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">43</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">Depreciation and amortization</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">423</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">415</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849">EBITDA</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">2,309</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">2,826</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">Add (deduct)1:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">QB2 variable consideration to IMSA and ENAMI</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">2</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">99</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">Environmental costs</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">17</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">(82</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">Share-based compensation</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">22</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">110</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">Commodity derivatives</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">(6</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">)</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">(49</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 10pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">Loss (gain) on sale or contribution of assets</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">(258</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">2</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">Elkview business interruption claim</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">(102</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">)</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">Profit from discontinued operations2</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">122</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 10pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849">Other</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">(12</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">16</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 3pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">Adjusted EBITDA</TD><TD STYLE="border-bottom: Black 3pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">1,972</TD><TD STYLE="border-bottom: Black 3pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">3,044</TD><TD STYLE="border-bottom: Black 3pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 10pt 0pt; color: #293849">Notes:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: right">1.</TD><TD STYLE="width: 5pt"></TD><TD>Adjustments for the three months ended March 31, 2022 are as previously reported.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: right">2.</TD><TD STYLE="width: 5pt"></TD><TD>Adjustment required to remove the effect of discontinued operations for the three months
ended March 31, 2022.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849"></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0; color: #293849"><B>Reconciliation
of Gross Profit Before Depreciation and Amortization</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 8pt Calibri, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849">(CAD$ in millions)</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: center">2023</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: center">2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 72%; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">Gross profit</TD><TD STYLE="width: 2%; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="width: 1%; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">$</TD><TD STYLE="width: 10%; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">1,666</TD><TD STYLE="width: 1%; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">2,478</TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">Depreciation and amortization</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">423</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">415</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">Gross profit before depreciation and amortization</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">2,089</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">2,893</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849">Reported as:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849">Copper</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">Highland Valley Copper</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">$</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">136</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">$</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">246</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849">Antamina</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">230</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">258</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">Carmen de Andacollo</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">12</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">39</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">Quebrada Blanca</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">(1</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">)</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">13</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 10pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849">Other</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">(4</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #293849; text-align: left">&nbsp;</TD></TR>
  </TABLE>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%;  border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 74%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849"><B>373</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849">556</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849"><B>Zinc</B></FONT></TD>
    <TD COLSPAN="3">&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849">Trail Operations</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849"><B>36</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849">34</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849">Red Dog</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849"><B>127</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849">274</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849">Other</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849"><B>10</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849">(3</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849"><B>173</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849">305</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849"><B>Steelmaking coal</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849"><B>1,543</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849">2,032</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 3pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849">Gross profit before depreciation and amortization</FONT></TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849"><B>2,089</B></FONT></TD>
    <TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849">$</FONT></TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849">2,893</FONT></TD>
    <TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 10pt; margin-right: 0pt; margin-left: 0pt; color: #293849"><B>CAUTIONARY
STATEMENT ON FORWARD-LOOKING STATEMENTS</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849">This
news release contains certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively
referred to as forward-looking statements). These statements relate to future events or our future performance. All statements other than
statements of historical fact are forward-looking statements. The use of any of the words &ldquo;anticipate&rdquo;, &ldquo;plan&rdquo;,
&ldquo;continue&rdquo;, &ldquo;estimate&rdquo;, &ldquo;expect&rdquo;, &ldquo;may&rdquo;, &ldquo;will&rdquo;, &ldquo;project&rdquo;, &ldquo;predict&rdquo;,
&ldquo;potential&rdquo;, &ldquo;should&rdquo;, &ldquo;believe&rdquo; and similar expressions is intended to identify forward-looking statements.
These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially
from those anticipated in such forward-looking statements. These statements speak only as of the date of this news release.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849">These
forward-looking statements include, but are not limited to, statements concerning: our focus and strategy; anticipated global and regional
supply, demand and market outlook for our commodities; the proposed separation of our business into two independent, publicly-listed companies;
terms and conditions of the Separation, including the expected distribution of EVR shares and cash and the Transition Capital Structure
to be retained by Teck; the timing for completion of the Separation; the proposed transaction to eliminate the multiple voting rights
attached to the Class A common shares; expectation that QB2 will be a long-life, low-cost operation with major expansion potential; QB2
capital cost guidance and development capital spending in 2023; expectation that cost pressures at QB2 can be mitigated, expectation that
QB2 will reach ramp up to full production capacity by the end of 2023; timing of progress and milestones at our QB2 project, including
system completion and handover; our expectation that the Antamina MEIA will be approved in the second half of 2023; execution of our copper
growth strategy; expectations regarding our QBME project, including the impact of the project and associated timing expectations for permitting
and </P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0; color: #293849">production; expectations regarding the NewRange joint venture, including timing for completion of the NorthMet feasibility study;
expectations regarding the San Nicol&aacute;s project, including timing for submission of the environmental impact assessment and permit
application and completion of the feasibility study; expectations regarding the Highland Valley Copper 2040 project, including that it
has the potential to extend operations to at least 2044 and timing for feasibility study and environmental permitting; expectations regarding
the Zafranal project, including expected receipt of the approval for the SEIA and timing thereof and advancement of the feasibility study;
expectations regarding the Galore Creek project, including advancement of the prefeasibility study; expectations regarding the advancement
of Schaft Creek and NuevaUni&oacute;n; expectations regarding improvements in workforce attraction and retention and the impact thereof
on our steelmaking coal business; expectations for stabilization and reduction of the selenium trend in the Elk Valley; expectations for
total water treatment capacity; projected spending, including capital and operating costs, from 2023-2024 on water treatment, water management
and incremental measures associated with the Direction; timing of advancement and completion of the North Line Creek Phase 1, Fording
River North 1 Phase 3 and Fording River North 2 Phase 1 SRFs; our expectation that we will increase our water treatment capacity to 120
million litres per day by the end of 2026; expectations regarding finance expenses for the second half of 2023; expectations regarding
timing and amount of income tax payments; liquidity and availability of borrowings under our credit facilities; our ability to obtain
additional credit for posting security for reclamation at our sites; all guidance appearing in this document including but not limited
to the production, sales, cost, unit cost, capital expenditure, and other guidance under the heading &ldquo;Guidance&rdquo; and discussed
in the various business unit sections; our expectations regarding inflationary pressures and increased key input costs, including profit
based compensation and royalties; and expectations regarding the adoption of new accounting standards and the impact of new accounting
developments.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849">These statements
are based on a number of assumptions, including, but not limited to, assumptions disclosed elsewhere in this document and
assumptions regarding general business and economic conditions, interest rates, commodity and power prices; acts of foreign or
domestic governments and the outcome of legal proceedings; the supply and demand for, deliveries of, and the level and volatility of
prices of copper, zinc and steelmaking coal and our other metals and minerals, as well as steel, crude oil, natural gas and other
petroleum products; the timing of the receipt of permits and other regulatory and <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849">governmental
approvals for our development projects and other operations, including mine extensions; our ability to complete the Separation,
including obtaining receipt of required approvals from the court,</FONT></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0; color: #293849"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849"> shareholders and the Toronto Stock Exchange; our ability to obtain
the required approvals for the proposed transaction to eliminate the multiple votes rights attached to the Class A common shares;
positive results from the studies on our expansion and development projects; our ability to secure adequate transportation,
including rail and port services, for our products; our costs of production and our production and productivity levels, as well as
those of our competitors; continuing availability of water and power resources for our operations; changes in credit market
conditions and conditions in financial markets generally; the availability of funding to refinance our borrowings as they become due
or to finance our development projects on reasonable terms; availability of letters of credit and other forms of financial assurance
acceptable to regulators for reclamation and other bonding requirements; our ability to procure equipment and operating supplies in
sufficient quantities and on a timely basis; the availability of qualified employees and contractors for our operations, including
our new developments and our ability to attract and retain skilled employees; the satisfactory negotiation of collective agreements
with unionized employees; the impact of changes in Canadian-U.S. dollar, Canadian dollar-Chilean Peso and other foreign exchange
rates on our costs and results; engineering and construction timetables and capital costs for our development and expansion
projects; the benefits of technology for our operations and development projects; closure costs; environmental compliance costs;
market competition; the accuracy of our mineral reserve and resource estimates (including with respect to size, grade and
recoverability) and the geological, operational and price assumptions on which these are based; tax benefits and tax rates; the
outcome of our coal price and volume negotiations with customers; the outcome of our copper, zinc and lead concentrate treatment and
refining charge negotiations with customers; the resolution of environmental and other proceedings or disputes; our ability to
obtain, comply with and renew permits, licenses and leases in a timely manner; and our ongoing relations with our employees and with
our business and joint venture partners.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849">In
addition, assumptions regarding the Elk Valley Water Quality Plan include assumptions that additional treatment will be effective at scale,
and that the technology and facilities operate as expected, as well as additional assumptions discussed under the heading &ldquo;<I>Elk
Valley Water Management Update.</I>&rdquo; Assumptions regarding QB2 include current project assumptions and assumptions regarding the
final feasibility study, estimates of future construction capital at QB2 are based on a CLP/USD rate range of 800&nbsp;&mdash; 850,&nbsp;
as well as there being no further unexpected material and negative impact to the various contractors, suppliers and subcontractors for
the QB2 project that would impair their ability to provide goods and services as anticipated during commissioning and ramp-up activities.
Statements regarding the availability of our credit facilities are based on assumptions that we will be able to satisfy the conditions
for borrowing at the time of a borrowing request and that the facilities are not otherwise terminated or accelerated due to an event of
default. Assumptions regarding the costs and benefits of our projects include assumptions that the relevant project is constructed, commissioned
and operated in accordance with current expectations. Expectations regarding our operations are based on numerous assumptions regarding
the operations. Our Guidance tables include disclosure and footnotes with further assumptions relating to our guidance, and assumptions
for certain other forward-looking statements accompany those statements within the document. Statements concerning future production costs
or volumes are based on numerous assumptions 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,
or adverse weather conditions, and that there are no material unanticipated variations in the cost of energy or supplies. Statements regarding
anticipated steelmaking coal sales volumes and average steelmaking coal prices depend on timely arrival of vessels and performance of
our steelmaking coal-loading facilities, as well as the level of spot pricing sales. The foregoing list of assumptions is not exhaustive.
Events or circumstances could cause actual results to vary materially.</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0; color: #293849"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849">Factors that may
cause actual results to vary materially include, but are not limited to, the possibility that the Separation and the transactions
with NSC and POSCO will not be completed on the terms and conditions, or on the timing, currently contemplated, and that the
transactions may not be completed at <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #293849">all,
due to a failure to obtain or satisfy, in a timely manner or otherwise, required shareholder, regulatory and court approvals or
other conditions of closing necessary to complete the transactions or for other reasons; adverse reactions or changes in business
relationships resulting from the announcement or completion of the Separation; tax, legal and regulatory matters; credit, market,
currency, operational, commodity, liquidity and funding changes or risks generally and relating specifically to the Separation,
including changes in economic conditions, interest rates or tax rates and other risks inherent to our business; business disruption
prior to or following the Separation; changes to our business and/or factors beyond Teck&rsquo;s control that could have a material
adverse effect on Teck or the ability or desire to consummate the Separation and transactions with NSC and POSCO; the possibility
that the proposed transaction to eliminate the multiple voting rights attached to the Class A common shares may not be completed on
the terms and conditions, or on the timing, currently contemplated, or at all, including due to the failure to obtain or satisfy, in
a timely manner or otherwise, required shareholder and other approvals and other conditions of closing necessary; changes in
commodity and power prices; changes in market demand for our products; changes in interest and currency exchange rates; acts of
governments and the outcome of legal proceedings; inaccurate geological and metallurgical assumptions (including with respect to the
size, grade and recoverability of mineral reserves and resources); operational difficulties (including failure of plant, equipment
or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of labour, materials and
equipment, government action or delays in the receipt of government approvals, changes in royalty or tax rates, industrial
disturbances or other job action, adverse weather conditions and unanticipated events related to health, safety and environmental
matters); union labour disputes; impact of COVID-19 and related mitigation protocols; political risk; social unrest; failure of
customers or counterparties (including logistics suppliers) to perform their contractual obligations; changes in our credit ratings;
unanticipated increases in costs to construct our development projects; difficulty in obtaining permits; inability to address
concerns regarding permits or environmental impact assessments; and changes or further deterioration in general economic conditions.
The amount and timing of capital expenditures is depending upon, among other matters, being able to secure permits, equipment,
supplies, materials and labour on a timely basis and at expected costs. Certain operations and projects are not controlled by us;
schedules and costs may be adjusted by our partners, and timing of spending and operation of the operation or project is not in our
control. Certain of our other operations and projects are operated through joint arrangements where we may not have control over all
decisions, which may cause outcomes to differ from current expectations. Current and new technologies relating to our Elk Valley
water treatment efforts may not perform as anticipated, and ongoing monitoring may reveal unexpected environmental conditions
requiring additional remedial measures. QB2 costs, commissioning and commercial production is dependent on, among other matters, our
continued ability to advance commissioning and ramp-up as currently anticipated and successfully manage through the impacts of
COVID-19, including but not limited to absenteeism and lowered productivity. QB2 costs may also be affected by claims and other
proceedings that might be brought against us relating to costs and impacts of the COVID-19 pandemic. Production at our Red Dog
Operations may also be impacted by water levels at site. Sales to China may be impacted by general and specific port restrictions,
Chinese regulation and policies, and normal production and operating risks. The forward-looking statements in this news release and
actual results will also be impacted by the continuing effects of COVID-19 and related matters, particularly if there is a further
resurgence of the virus.</FONT></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849">We
assume no obligation to update forward-looking statements except as required under securities laws. Further information concerning risks,
assumptions and uncertainties associated with these forward-looking statements and our business can be found in our Annual Information
Form for the year ended December 31, 2022, filed under our profile on SEDAR (www.sedar.com) and on EDGAR (www.sec.gov) under cover of
Form 40-F, as well as subsequent filings that can also be found under our profile.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-left: 0;  color: #293849">Scientific and
technical information in this quarterly report regarding our coal properties, which for this purpose does not include the discussion
under &ldquo;<I>Elk Valley Water Management Update</I>&rdquo; was reviewed, approved and verified by Jo-Anna Singleton, P.Geo. and
Cameron Feltin, P.Eng., each an employee of Teck Coal Limited and a Qualified Person as defined under National Instrument 43-101.
Scientific and technical information in this quarterly report regarding our other properties was reviewed, approved and verified by
Rodrigo Alves Marinho, P.Geo., an employee of Teck and a Qualified Person as defined under National Instrument 43-101.</P>



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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>eh230353540_ex9902.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-align: right; text-indent: 0pt"><B>EXHIBIT 99.2</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B><IMG SRC="header.jpg" ALT=""></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 8pt; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; width: 50%; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>For Immediate Release</B></FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; width: 50%; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Date:
    April 25, 2023</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">23-36-TR</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Teck Reports Unaudited First Quarter Results for 2023</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center;">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: #2F2F2F"><I>Significant milestones achieved in copper growth strategy and strong financial results in the first quarter</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: #333333"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Vancouver, B.C.</B> &ndash; Teck Resources Limited (TSX: TECK.A and TECK.B,
NYSE: TECK) (Teck) today announced its unaudited first quarter results for 2023.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&ldquo;We had a positive start to the year with strong financial performance
in the first quarter driven by strong commodity prices and steelmaking coal sales,&rdquo; said Jonathan Price, CEO. &ldquo;We achieved
a number of significant milestones in our copper growth strategy this quarter including first copper concentrate production at QB2, the
cornerstone of our copper growth strategy, while making advances across our pipeline of near and medium-term projects. The progress in
our copper growth pipeline reinforces the underlying value and optionality in our base metals business.&quot;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>Highlights</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Adjusted profit attributable to shareholders<SUP>1</SUP> of $930 million or
$1.81 per share in Q1 2023. </FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Profit from continuing operations attributable to shareholders<SUP>1</SUP>
of $1.2 billion or $2.27 per share in Q1 2023. </FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Adjusted EBITDA<SUP>1</SUP> was $2.0 billion in Q1 2023 driven by continued
robust commodity prices and strong steelmaking coal sales volumes. Profit from continuing operations before taxes was $1.9 billion in
Q1 2023. </FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">We generated cash flows from operations of $1.1 billion in the quarter, ending
with a cash balance of $2.3 billion. Our liquidity as at April&nbsp;25, 2023 is $8.0 billion, including $2.6 billion of cash. </FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">We returned $321 million to shareholders through dividends in Q1 2023.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">At QB2, we have produced our first bulk copper concentrate, continue to advance
commissioning and will ramp-up to full production through 2023.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">We successfully closed transactions related to the joint venture partnerships
for the NewRange and San Nicol&aacute;s projects, which are key milestones in advancing our copper growth strategy, and the sales of Quintette
and our interest in Fort Hills. </FONT></TD></TR></TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">Note:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt">1.</TD><TD>This is a non-GAAP financial measure or ratio. See &ldquo;Use of Non-GAAP Financial Measures and Ratios&rdquo; for further information.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"></FONT></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-indent: 0in"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><I>All
dollar amounts expressed in this news release are in Canadian dollars unless otherwise noted.</I></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-align: center; text-indent: -0.3in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I>&nbsp;</I></FONT></P>

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  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 16%; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Reference:</FONT></TD>
    <TD STYLE="width: 58%; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Fraser
    Phillips, Senior Vice President, Investor Relations and Strategic Analysis</FONT></TD>
    <TD STYLE="width: 26%; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">604.699.4621</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Chris Stannell, Public Relations Manager</FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">604.699.4368</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Additional
corporate information is available at <FONT STYLE="color: Blue"><U>www.teck.com</U></FONT>.</FONT></P>



<P STYLE="margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>Financial Summary Q1 2023</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="color: white"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 3.75pt 0 0; color: white"><B>Financial Metrics</B></P> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 1.5pt; color: white">(CAD$ in millions, except per share data)</P></TD><TD STYLE="border-left: Black 1pt solid; color: white; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; text-align: right">Q1 2023</TD><TD STYLE="border-left: Black 1pt solid; color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">Q1 2022</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 74%; color: black">Revenue</TD><TD STYLE="border-left: Black 1pt solid; width: 1%; color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; color: black; font-weight: bold; text-align: right">3,785</TD><TD STYLE="width: 1%; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; width: 1%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 10%; color: black; text-align: right">4,616</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">Gross profit</TD><TD STYLE="border-left: Black 1pt solid; color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="color: black; font-weight: bold; text-align: right">1,666</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">2,478</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Gross profit before depreciation and amortization<SUP>1</SUP></FONT></TD><TD STYLE="border-left: Black 1pt solid; color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="color: black; font-weight: bold; text-align: right">2,089</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">2,893</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">Profit from continuing operations before taxes</TD><TD STYLE="border-left: Black 1pt solid; color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="color: black; font-weight: bold; text-align: right">1,856</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">2,368</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Adjusted EBITDA<SUP>1</SUP></FONT></TD><TD STYLE="border-left: Black 1pt solid; color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="color: black; font-weight: bold; text-align: right">1,972</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">3,044</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">Profit from continuing operations attributable to shareholders</TD><TD STYLE="border-left: Black 1pt solid; color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="color: black; font-weight: bold; text-align: right">1,166</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">1,519</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Adjusted profit attributable to shareholders<SUP>1</SUP></FONT></TD><TD STYLE="border-left: Black 1pt solid; color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="color: black; font-weight: bold; text-align: right">930</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">1,620</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">Basic earnings per share from continuing operations</TD><TD STYLE="border-left: Black 1pt solid; color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="color: black; font-weight: bold; text-align: right">2.27</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">2.84</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="color: black; text-align: left">Diluted earnings per share from continuing operations</TD><TD STYLE="border-left: Black 1pt solid; color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="color: black; font-weight: bold; text-align: right">2.23</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">2.78</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Adjusted basic earnings per share<SUP>1</SUP></FONT></TD><TD STYLE="border-left: Black 1pt solid; color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="color: black; font-weight: bold; text-align: right">1.81</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">3.02</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Adjusted diluted earnings per share<SUP>1</SUP></FONT></TD><TD STYLE="border-left: Black 1pt solid; border-bottom: Black 3pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: right">1.78</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; border-bottom: Black 3pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: right">2.96</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.15pt">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.15pt">Note:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">This is a non-GAAP financial measure or ratio. See &ldquo;Use of Non-GAAP Financial Measures and Ratios&rdquo; for further information.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>Key Updates</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Executing on our copper growth strategy &ndash; QB2 a long-life, low-cost
operation with major expansion potential</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: -3.25pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">QB2 is in commissioning of Line 1 at the concentrator and our focus continues
to be on system completion and handover as part of the continuous commissioning and ramp-up plan through 2023.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The start of Line 1 commissioning commenced in January; however, our first
copper milestone was not achieved until late March. This delay, combined with recent foreign exchange impacts, has resulted in pressure
on our project capital cost guidance for QB2 which could increase total capital costs for the project to US$8.0 to $8.2 billion. Over
30% of the increase from our previously disclosed guidance relates to non-controllable foreign exchange impacts. Significant efforts are
ongoing to mitigate the cost pressures. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Our 2023 production guidance is unchanged and we continue to expect QB2 to
be operating at full production rates by the end of 2023.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Safety and Sustainability Leadership</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Our High Potential Incident Frequency remained low at a rate of 0.10 in the
first quarter.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">We issued a report on our low-carbon Special High Grade (SHG) refined zinc
product, confirming each tonne of SHG zinc from Trail Operations generates 0.93 tonnes of carbon dioxide equivalent (CO2e) compared to
the estimated global average of 3 &mdash; 4 tonnes of CO2e per tonne. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">We released our 22<SUP>nd</SUP> Annual Sustainability Report, outlining Teck&rsquo;s
sustainability performance including improvements in health &amp; safety, climate action, diversity and other areas. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2px solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 5%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD><TD STYLE="width: 95%; text-align: right"><P STYLE="text-align: left; margin: 0; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 8pt"><I>Teck Resources Limited 2023 First Quarter News Release</I></FONT></P></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->



<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Guidance</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">There has been no change in our previously issued annual guidance, with the
exception of QB2 capital cost guidance, as noted above. Our guidance is outlined in summary below and our usual guidance tables, including
three-year production guidance, can be found on pages 27 &mdash; 31.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.15pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="border-right: Black 1pt solid; width: 75%; color: white; font-weight: bold; text-align: left">2023 Guidance &ndash; Summary</TD>
    <TD STYLE="width: 25%; color: white; font-weight: bold; text-align: right">Current</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; font-weight: bold; text-align: left">Production Guidance</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-right: Black 1pt solid; text-align: left; text-indent: 7.1pt">Copper (000&rsquo;s tonnes)</TD>
    <TD STYLE="text-align: right">390 - 445</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; text-align: left; text-indent: 7.1pt">Zinc (000&rsquo;s tonnes)</TD>
    <TD STYLE="text-align: right">645 - 685</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-right: Black 1pt solid; text-align: left; text-indent: 7.1pt">Refined zinc (000&rsquo;s tonnes)</TD>
    <TD STYLE="text-align: right">270 - 290</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; text-align: left; text-indent: 7.1pt">Steelmaking coal (million tonnes)</TD>
    <TD STYLE="text-align: right">24.0 - 26.0</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-right: Black 1pt solid; font-weight: bold; text-align: left">Sales Guidance &ndash; Q2 2023</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; text-align: left; text-indent: 7.1pt">Red Dog zinc in concentrate sales (000&rsquo;s tonnes)</TD>
    <TD STYLE="text-align: right">45 - 55</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-right: Black 1pt solid; text-align: left; text-indent: 7.1pt">Steelmaking coal sales (million tonnes)</TD>
    <TD STYLE="text-align: right">6.2 - 6.6</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; font-weight: bold; text-align: left">Unit Cost Guidance</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-right: Black 1pt solid; text-align: left; text-indent: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Copper net cash unit costs (US$/lb.)<SUP>1 2</SUP></FONT></TD>
    <TD STYLE="text-align: right">1.60 - 1.80</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; text-align: left; text-indent: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Zinc net cash unit costs (US$/lb.)<SUP>1</SUP></FONT></TD>
    <TD STYLE="text-align: right">0.50 - 0.60</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-right: Black 1pt solid; text-align: left; text-indent: 7.1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Steelmaking coal adjusted site cash cost of sales (CAD$/tonne)<SUP>1</SUP></FONT></TD>
    <TD STYLE="text-align: right">88 - 96</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 3pt solid; border-right: Black 1pt solid; text-align: left; padding-bottom: 1pt; text-indent: 7.1pt">Steelmaking coal transportation costs (CAD$/tonne)</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: right">45 - 48</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-size: 8pt">Notes:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-size: 8pt">1.</FONT></TD><TD><FONT STYLE="font-size: 8pt">This is a non-GAAP financial measure or
                                            ratio. See &ldquo;<I>Use of Non-GAAP Financial Measures and Ratios</I>&rdquo; for further
                                            information.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-size: 8pt">2.</FONT></TD><TD><FONT STYLE="font-size: 8pt">Excludes Quebrada Blanca.</FONT></TD></TR></TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>


<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2px solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 5%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD><TD STYLE="width: 95%; text-align: right"><P STYLE="text-align: left; margin: 0; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 8pt"><I>Teck Resources Limited 2023 First Quarter News Release</I></FONT></P></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B><I>This management&rsquo;s discussion and analysis is dated as at April
25, 2023 and should be read in conjunction with the unaudited condensed interim consolidated financial statements of Teck Resources Limited
(&ldquo;Teck&rdquo;) and the notes thereto for the three months ended March 31, 2023 and with the audited consolidated financial statements
of Teck and the notes thereto for the year ended December 31, 2022. In this news release, unless the context otherwise dictates, a reference
to &ldquo;the company&rdquo; or &ldquo;us,&rdquo; &ldquo;we&rdquo; or &ldquo;our&rdquo; refers to Teck and its subsidiaries. Additional
information, including our Annual Information Form and Management&rsquo;s Discussion and Analysis for the year ended December 31, 2022,
is available on SEDAR at <FONT STYLE="color: blue">www.sedar.com</FONT>.</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B><I>This document contains forward-looking statements. Please refer to
the cautionary language under the heading &ldquo;CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION&rdquo; below.</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>Overview</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 3.8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000F7B">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">First quarter profitability declined from the same period a year ago as a
result of lower prices for all our principal products, as shown in the table below, and a decrease in sales volumes for copper and zinc.
As reflected in our previously issued guidance, unit operating costs<SUP>1 </SUP>were higher across our operations compared to the same
period last year due to ongoing inflationary pressures and the effect of expected lower production levels. These items were partially
offset by higher steelmaking coal sales volumes and a weaker Canadian dollar in the first quarter as compared with a year ago. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 3.8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000F7B">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Base metal prices declined in the first quarter compared with a year ago,
when prices had reached record levels. Copper prices were 11% lower than the same period last year, averaging US$4.05 per pound in the
first quarter, and zinc prices decreased 16%, averaging US$1.42 per pound in the first quarter. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 3.8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #000F7B">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Realized steelmaking coal prices in the first quarter remained well above
historical averages at US$282 per tonne, but declined 21% from the same period last year. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="color: white">Average Prices and Exchange Rates</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="color: white; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                                             <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: center">Change</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD>&nbsp;</TD><TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; text-align: right">2023</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">2022</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 61%; text-align: left">Copper (LME cash &ndash; US$/pound)</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">4.05</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">4.53</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">(11</TD><TD STYLE="width: 1%; text-align: left">)%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Zinc (LME cash &ndash; US$/pound)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">1.42</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.70</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(16</TD><TD STYLE="text-align: left">)%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">Steelmaking coal (realized US$/tonne)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">282</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">357</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(21</TD><TD STYLE="text-align: left">)%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 2.5pt">Average exchange rate (CAD$ per US$1.00)</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">1.35</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">1.27</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">6</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 2.5pt; text-align: left">%</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="color: #000F7B">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Copper production was 16% lower than a year ago, partly due to harder ore
at Highland Valley Copper and lower grades at Antamina, as anticipated in our previously disclosed guidance. Production at Antamina was
also impacted by severe weather that suspended operations for five days in late March. Copper sales volumes in the first quarter decreased
by 14% from the same period a year ago due to the timing of sales and lower production levels.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 3.8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Zinc in concentrate production was 8% lower than a year ago primarily due
to severe weather events at both Red Dog and Antamina. By quarter end, both operations were back to stable operations. At Trail Operations,
refined zinc production and sales volumes were 10% and 21% lower, respectively, than a year ago, as a result of the continued impacts
of the extremely cold weather in December and unplanned maintenance. Refined zinc operations have been operating at expected levels since
mid-February. </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">Note:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">This is a non-GAAP financial measure or ratio. See &ldquo;Use of Non-GAAP Financial Measures and Ratios&rdquo; for further information.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="color: #000F7B">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Steelmaking coal production was 7% higher than a year ago at 6.0 million tonnes,
primarily as a result of improved mining productivity in the quarter. Steelmaking coal sales volumes of 6.2 million tonnes were 3% higher
than a year ago and within our previously announced guidance range. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3.8pt; color: #000F7B"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt">&bull;</TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">On March 31, 2023, we announced that QB2 produced its first bulk copper concentrate,
and our focus continues to be on system completion and handover as part of the continuous commissioning and ramp-up plan through 2023.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 3.8pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0; font: 10pt Arial, Helvetica, Sans-Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#8226;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Although we remain highly focused on managing our controllable operating expenditures, we continue to experience inflationary pressures across our business units, which increased our operating costs by 6% compared to the same period last year. The increase in the cost of certain key supplies, including mining equipment, fuel, tires and explosives, is being driven largely by price increases for underlying commodities such as steel, crude oil and natural gas. While our underlying key mining drivers remain relatively stable, inflationary pressures on diesel prices and other key input costs are expected to continue to put upward pressure on our unit costs1 and sustaining capital expenditures in 2023, as reflected in our annual unit cost1 guidance.
</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 3.8pt">&nbsp;</P>


<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 3.8pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 3.8pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 3.8pt">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">Note:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">This is a non-GAAP financial measure or ratio. See &ldquo;Use of Non-GAAP Financial Measures and Ratios&rdquo; for further information.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in; color: #000F7B"><B>Profit Attributable to
Shareholders and Adjusted Profit Attributable to Shareholders </B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.25pt; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">In the first quarter, profit from continuing operations attributable to
shareholders was $1.2 billion, or $2.27 per share, compared to $1.5 billion, or $2.84 per share, in the same period last year. The decrease
compared with a year ago is primarily due to lower prices for our principal products, higher unit costs due to inflationary pressures,
as anticipated, and reduced sales volumes of copper and zinc.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Adjusted profit attributable to shareholders<SUP>1</SUP> in the first quarter,
taking into account the items identified in the table below, was $930 million, or $1.81 per share, compared with $1.6 billion, or $3.02
per share, in the first quarter of 2022. The most significant first quarter adjustments to profit, reflected in the table below, were
after-tax gains of $186 million related to the Quintette and Mesaba transactions and after-tax proceeds of $68 million from the Elkview
business interruption claim.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD>&nbsp;</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="color: white; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                                             <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="color: white">(CAD$ in millions)</TD><TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; text-align: right">2023</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 74%; font-weight: bold; text-align: left">Profit from continuing operations attributable to shareholders</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">1,166</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">1,519</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Add (deduct) on an after-tax
basis<SUP>2</SUP>:</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt; text-align: left">QB2 variable consideration to IMSA and ENAMI</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">2</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">59</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; text-align: left">Environmental costs</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">13</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(60</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt; text-align: left">Share-based compensation</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">18</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">82</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; text-align: left">Commodity derivatives</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(4</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(37</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt; text-align: left">Loss (gain) on sale or contribution of assets</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(186</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; text-align: left">Elkview business interruption claim</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(68</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt; text-align: left">Profit from discontinued operations<SUP>3</SUP></TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">52</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 10pt; text-align: left">Other</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(11</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Adjusted
profit attributable to shareholders</B><SUP>1</SUP></FONT></TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">930</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,620</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="font-weight: bold; text-align: left">Basic earnings per share from continuing operations</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">2.27</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.84</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Diluted earnings per share from continuing operations</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">2.23</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.78</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Adjusted
basic earnings per share</B><SUP>1</SUP></FONT></TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">1.81</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3.02</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Adjusted
diluted earnings per share</B><SUP>1</SUP></FONT></TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">1.78</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">2.96</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 8pt">Notes:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">This
                                            is a non-GAAP financial measure or ratio. See &ldquo;<I>Use of Non-GAAP Financial Measures
                                            and Ratios</I>&rdquo; for further information.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Adjustments
                                            for the three months ended March 31, 2022 are as previously reported.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Adjustment
                                            required to remove the effect of discontinued operations for the three months ended March
                                            31, 2022.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">In addition to the items identified in the table above, our results include
gains and losses due to changes in market prices in respect of pricing adjustments. Pricing adjustments resulted in $55 million of after-tax
gains ($87 million, before tax) in the first quarter, or $0.11 per share.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">Note:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">This is a non-GAAP financial measure or ratio. See &ldquo;Use of Non-GAAP Financial Measures and Ratios&rdquo; for further information.</FONT></TD></TR></TABLE>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2px solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 5%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></TD><TD STYLE="width: 95%; text-align: right"><P STYLE="text-align: left; margin: 0; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 8pt"><I>Teck Resources Limited 2023 First Quarter News Release</I></FONT></P></TD></TR></TABLE></DIV>
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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="color: white; font-weight: bold">FINANCIAL OVERVIEW</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="color: white; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                                             <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="color: white">(CAD$ in millions, except per share data)</TD><TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; text-align: right">2023</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">Revenue and profit</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: 10pt; text-align: left; width: 74%">Revenue</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">3,785</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">4,616</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 10pt; text-align: left">Gross profit</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">1,666</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,478</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: 10pt; text-align: left">Gross profit before depreciation and amortization<SUP>1 </SUP></TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">2,089</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,893</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 10pt; text-align: left">Profit from continuing operations before taxes</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">1,856</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,368</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: 10pt; text-align: left">Adjusted EBITDA<SUP>1</SUP></TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">1,972</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,044</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 10pt; text-align: left">Profit attributable to shareholders</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">1,140</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,571</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: 10pt; text-align: left">Profit from continuing operations attributable to shareholders</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">1,166</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,519</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Cash flow</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: 10pt; text-align: left">Cash flow from operations</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">1,092</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,323</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 10pt; text-align: left">Property, plant and equipment expenditures</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">1,271</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">836</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: 10pt; text-align: left">Capitalized stripping costs</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">310</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">233</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 10pt; text-align: left">Investments</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">44</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">39</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="font-weight: bold; text-align: left">Balance Sheet</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 10pt; text-align: left">Cash balances</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">2,265</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,465</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: 10pt; text-align: left">Total assets</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">53,758</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">48,824</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 10pt; text-align: left">Debt and lease liabilities, including current portion</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">7,606</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">8,082</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="font-weight: bold">Per share amounts</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 10pt; text-align: left">Basic earnings per share</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">2.22</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.93</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: 10pt; text-align: left">Diluted earnings per share</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">2.18</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.87</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 10pt; text-align: left">Basic earnings per share from continuing operations</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">2.27</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.84</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: 10pt; text-align: left">Diluted earnings per share from continuing operations</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">2.23</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.78</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: 10pt; text-align: left">Dividends declared per share</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">0.625</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0.625</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">PRODUCTION, SALES AND PRICES</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD COLSPAN="9" STYLE="font-weight: bold">Production (000&rsquo;s tonnes, except steelmaking coal)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 10pt; text-align: left">Copper<SUP>2</SUP></TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">57</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">67</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: 10pt; text-align: left">Zinc in concentrate</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">145</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">158</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 10pt; text-align: left">Zinc &ndash; refined</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">62</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">69</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: 10pt; text-align: left">Steelmaking coal (million tonnes)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">6.0</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5.6</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="9" STYLE="font-weight: bold">Sales (000&rsquo;s tonnes, except steelmaking coal)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: 10pt; text-align: left">Copper<SUP>2</SUP></TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">59</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">69</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 10pt; text-align: left">Zinc in concentrate</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">109</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">169</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: 10pt; text-align: left">Zinc &ndash; refined</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">55</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">69</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 10pt; text-align: left">Steelmaking coal (million tonnes)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">6.2</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6.0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="font-weight: bold; text-align: left">Average prices and exchange rates</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 10pt; text-align: left">Copper (LME cash &ndash; US$/pound)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">4.05</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4.53</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: 10pt; text-align: left">Zinc (LME cash &ndash; US$/pound)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">1.42</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.70</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 10pt; text-align: left">Steelmaking coal (realized US$/tonne)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">282</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">357</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 3pt solid; text-indent: 10pt; text-align: left">Average exchange rate (CAD$ per US$1.00)</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">1.35</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">1.27</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD></TR>
  </TABLE>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-size: 8pt">Notes:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">This is a non-GAAP financial measure or ratio. See &ldquo;Use of Non-GAAP Financial Measures and Ratios&rdquo; for further information.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">We include 100% of production and sales from our Quebrada Blanca and Carmen de Andacollo mines in our production and sales volumes, even though we do not own 100% of these operations, because we fully consolidate their results in our financial statements. We include 22.5% of production and sales from Antamina representing our proportionate ownership interest in this operation. </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>BUSINESS UNIT RESULTS</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Our revenue, gross profit, and gross profit before depreciation and amortization<SUP>1</SUP>
by business unit are summarized in the table below.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD>&nbsp;</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="color: white; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                                             <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="color: white">(CAD$ in millions)</TD><TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; text-align: right">2023</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Revenue</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt; width: 74%">Copper</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">763</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">930</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt">Zinc</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">616</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">920</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 10pt">Steelmaking coal</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2,406</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,766</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">Total</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">3,785</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4,616</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Gross profit</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt">Copper</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">261</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">451</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt">Zinc</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">128</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">247</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 10pt">Steelmaking coal</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,277</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,780</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">Total</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,666</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,478</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Gross
profit before depreciation and amortization</B><SUP>1 </SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt">Copper</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">373</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">556</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt">Zinc</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">173</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">305</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 10pt">Steelmaking coal</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,543</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,032</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">Total</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2,089</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,893</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="font-weight: bold">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Gross profit margins before
depreciation and amortization</B><SUP>1 </SUP></FONT></TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt; width: 74%">Copper</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">49</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">60</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt">Zinc</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">28</TD><TD STYLE="font-weight: bold; text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">33</TD><TD STYLE="text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 3pt solid; padding-left: 10pt">Steelmaking coal</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">64</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">%</TD><TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">73</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: left">%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"> Note:</P>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">This
is a non-GAAP financial measure or ratio. See &ldquo;<I>Use of Non-GAAP Financial Measures and Ratios</I>&#8221; for further information.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 3.8pt">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>COPPER BUSINESS UNIT</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 3.8pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD>&nbsp;</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="color: white; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                                             <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="color: white">(CAD$ in millions)</TD><TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; text-align: right">2023</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 74%; text-align: left">Copper price (realized &ndash; US$/pound)</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">4.07</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">4.51</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Production (000&rsquo;s tonnes)<SUP>1</SUP></FONT></TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">57</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">67</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Sales (000&rsquo;s tonnes)<SUP>1</SUP></FONT></TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">59</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">69</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Gross profit</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">261</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">451</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Gross profit before depreciation
and amortization<SUP>2</SUP></FONT></TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">373</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">556</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">Property, plant and equipment expenditures</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">1,103</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">720</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD></TR>
  </TABLE>


<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #000F7B; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-indent: 0pt; text-align: justify"><B>Performance</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #000F7B; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-indent: 0pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #000F7B; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-indent: 0pt; text-align: justify"><B></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Gross profit from our copper business unit was $261 million in the first
quarter compared with $451 million a year ago. Gross profit decreased from a year ago (see table below) primarily due to a decline in
realized copper prices, lower production and sales volumes, and higher unit operating costs<SUP>2 </SUP>as expected in our annual unit
cost guidance.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Copper production of 56,700 tonnes in the first quarter was 16% lower than
a year ago. The decrease was primarily driven by harder ore and lower grades at Highland Valley Copper, as expected, and lower copper
grades at Antamina. Production at Antamina was also impacted by severe weather in late March which required operations to be suspended
for five days.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The table below summarizes the change in gross profit in our copper business
unit for the quarter:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="color: white; font-weight: bold">Gross Profit (CAD$ in millions)</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                                             <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 87%; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>As
reported in the <FONT STYLE="color: black">first</FONT> quarter of 2022</B></FONT></TD><TD STYLE="width: 1%; color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; color: black; font-weight: bold; text-align: right">451</TD><TD STYLE="width: 1%; color: black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">Increase (decrease):</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt; color: black">Copper price realized</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(78</TD><TD STYLE="color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; color: black">Sales volumes</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(71</TD><TD STYLE="color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt; color: black">Unit operating costs</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(58</TD><TD STYLE="color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; color: black">Labour settlement (2022)</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">23</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt; color: black">Co-product and by-product contribution</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(18</TD><TD STYLE="color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; color: black">Foreign exchange (CAD$/US$)</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">19</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 10pt; color: black">Depreciation</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">(7</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left; padding-bottom: 1pt">Net decrease</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">(190</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: left">As reported in current quarter</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: right">261</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">Notes:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">We include 22.5% of production and sales from Antamina, representing our proportionate ownership interest in this operation. We include 100% of production and sales from our Quebrada Blanca and Carmen de Andacollo mines in our production and sales volumes, even though we do not own 100% of these operations, because we fully consolidate their results in our financial statements.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">This is a non-GAAP financial measure or ratio. See &#8220;<I>Use of Non-GAAP
Financial Measures and Ratios</I>&#8221; for further information.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 9; Value: 2 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Property, plant and equipment expenditures in the first quarter totaled
$1.1 billion, including $75 million for sustaining capital and $903 million for project development expenditures for QB2. Capitalized
stripping costs were $95 million in the first quarter, $32 million higher than a year ago, as expected in QB2 start up and as expected
in the Antamina mine plan.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>Markets</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="color: #212121">Although LME copper prices remained above long-term
historic trends, prices in the first quarter declined by 11% compared with the same period a year ago. Global demand for copper metal
remained well supported in the </FONT>first <FONT STYLE="color: #212121">quarter, with Chinese imports of copper concentrates and cathodes
each increasing approximately </FONT>1.1<FONT STYLE="color: #212121">% over the same period in 2022.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="color: #212121">Tightness in the copper concentrate market
eased towards the end of the </FONT>first <FONT STYLE="color: #212121">quarter with spot treatment charges rising, but remaining below
the 2023 annual contract terms. Increased tonnages were made available to the seaborne market as a result of production resuming at several
Peruvian mines affected by social unrest, the recovery of mines in Indonesia from flooding and the restarting of exports from Panama.
Global stocks of copper cathode on exchanges around the world at the end of the quarter were </FONT>3.4 <FONT STYLE="color: #212121">days
of global consumption compared to the long-term average of </FONT>11.8 <FONT STYLE="color: #212121">days. Stocks on exchanges and in bonded
warehouses in China increased by </FONT>155,000 <FONT STYLE="color: #212121">tonnes in the quarter with the majority of the increase attributable
to the seasonal Lunar New Year stock build. Total visible stocks, including bonded stocks, remain at low levels at </FONT>5.7 <FONT STYLE="color: #212121">days
of consumption, compared to a long-term average of </FONT>14.5 <FONT STYLE="color: #212121">days.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>Operations</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Highland Valley Copper</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Copper production of 24,500 tonnes in the first quarter was 5,200 tonnes
lower than a year ago due to harder ore and lower copper grade, as expected in the mine plan. Copper sales volumes of 26,300 tonnes in
the first quarter were 9,300 tonnes lower than a year ago. Sales volumes in the first quarter last year were higher as a result of a draw
down of inventory relating to logistics chains recovering from weather-related disruptions at the end of 2021. First quarter molybdenum
production of 545,000 pounds was 282,000 pounds higher than a year ago, consistent with our previously disclosed guidance.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Operating costs were $187 million in the first quarter or $17 million higher
than a year ago before changes in inventory and a one-time $23 million labour settlement in 2022. The increase in operating costs was
primarily due to increased consumable costs and maintenance costs on the haul truck fleet to improve availability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Antamina</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Copper production (100% basis) of 91,100 tonnes in the first quarter was
19,800 tonnes lower than a year ago, primarily due to expected lower copper grades as well as severe weather events in late March as a
result of Cyclone Yaku. The mix of mill feed in the quarter was 50% copper-only ore and 50% copper-zinc ore, similar with 51% copper-only
ore and 49% copper-zinc ore, respectively, a year ago. Zinc production (100% basis) of 83,300 tonnes in the first quarter was 31,800 tonnes
lower than a year ago due to expected lower grade and recovery as well as the weather event previously mentioned.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Operating costs, before changes in inventory, were US$87 million (22.5%
share) in the first quarter, similar with a year ago.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">In 2022, Antamina submitted a MEIA (Modification of Environmental Impact
Assessment) to Peruvian regulators to extend its mine life from 2028 to 2036. The regulatory review process is progressing as scheduled,
with approval anticipated in the second half of 2023.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Carmen de Andacollo</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Copper production of 9,800 tonnes in the first quarter was 300 tonnes lower
than a year ago, primarily due to unplanned maintenance and lower copper grade.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Operating costs, before changes in inventory, in the first quarter of US$67
million were US$11 million higher than a year ago primarily due to higher consumable costs, most notably power costs.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Quebrada Blanca</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Copper cathode production was 1,900 tonnes in the first quarter compared
with 2,300 tonnes a year ago.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">First bulk concentrate was produced in March at QB2 and the project continues
to advance commissioning and will ramp up to full production through 2023.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>Cost of Sales</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Cost of sales was $502 million in the first quarter compared with $479 million
in the same period last year. Total cash unit costs<SUP>1</SUP> of product sold in the first quarter, before cash margins for by-products<SUP>1</SUP>,
of US$2.30 per pound were US$0.39 per pound higher than the same period a year ago. This was due to the effect of lower production levels
and higher consumables costs, specifically for power, as well as higher maintenance and repair costs. Cash margins for by-products<SUP>1</SUP>
were US$0.47 per pound compared with US$0.54 per pound in the same period a year ago due to lower zinc prices and volume. Total net cash
units costs for copper, after cash margins for by-products<SUP>1</SUP>, of US$1.83 per pound were US$0.46 per pound higher than the same
period a year ago. Although first quarter unit costs<SUP>1</SUP> are slightly above our annual guidance range, the variance is timing
related, and as such, our annual guidance range is unchanged.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD>&nbsp;</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="color: white; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                                             <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="color: white">(amounts reported in US$ per pound)</TD><TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; text-align: right">2023</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 74%; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Adjusted cash cost
of sales<SUP>1 2</SUP></FONT></TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">2.06</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">1.73</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; padding-bottom: 1pt">Smelter processing charges</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">0.24</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0.18</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Total
cash unit costs<SUP>1 2</SUP></B></FONT></TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">2.30</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.91</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Cash margin for by-products<SUP>1
2</SUP></FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(0.47</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(0.54</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Net cash
unit costs<SUP>1 2</SUP></B></FONT></TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">1.83</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">1.37</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #000F7B; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-indent: 0pt; text-align: justify"><B>Outlook</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Our 2023 annual guidance for our copper business unit is outlined in our
guidance tables on pages 27 &mdash; 31 and is unchanged from our previously issued guidance, with the exception of QB2 capital cost guidance.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 8pt">Notes:</FONT></P>



<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">This
                                            is a non-GAAP financial measure or ratio. See &ldquo;<I>Use of Non-GAAP Financial Measures
                                            and Ratios</I>&rdquo; for further information.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Excludes
                                            Quebrada Blanca.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>




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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-align: justify; text-indent: -0.3in; color: #000F7B"><B>Development
Projects</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-align: justify; text-indent: -0.3in; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Quebrada Blanca Phase 2 </B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">At Quebrada Blanca Phase 2, we have produced our first bulk copper concentrate,
and continue to advance commissioning of Line 1 and construction completion of Line 2. This is part of the continuous commissioning plan
and ramp-up through 2023.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>



<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Some of the key milestones achieved since our last quarterly update include:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Desalination plant operational and producing water;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Water pipeline in service delivering water to the concentrator;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Primary crusher and conveyors delivering ore to stockpile;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Grinding and flotation systems on Line 1 have produced first copper; commissioning
is ongoing;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Tailings facility receiving tailings from commissioning activities; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Pre-commissioning of the concentrate transport system in progress.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The start of Line 1 commissioning commenced in January; however, our first
copper milestone was not achieved until late March. This delay, combined with recent foreign exchange impacts, has resulted in pressure
on our project capital cost guidance for QB2 which could increase total capital costs for the project to US$8.0 to $8.2 billion. Over
30% of the increase from our previously disclosed guidance relates to non-controllable foreign exchange impacts. Significant efforts are
ongoing to mitigate the cost pressures. Our 2023 production guidance is unchanged and we continue to expect QB2 to be operating at full
production rates by the end of 2023.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in"><B>Copper Growth </B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">We achieved a number of important milestones in our copper growth strategy
in the first quarter as we continue to actively advance our industry-leading copper growth portfolio. These milestones included the closing
of the NewRange Copper Nickel and San Nicol&aacute;s joint venture partnerships along with meaningful advances in study work, community
engagement and permitting across all of the assets. Our approach is driven by balancing growth and return of capital, informed by setting
milestone objectives with prudent investment plans to de-risk development of each of the assets, including permitting.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">We continue to advance the feasibility study for the Quebrada Blanca Mill
Expansion (QBME) project which will entail an increase in concentrator throughput of approximately 50%, with the addition of one identical,
semi-autogenous grinding line. We believe this configuration optimizes the timeline to progress the development of the orebody, while
leveraging existing infrastructure to maximize capital efficiency. The feasibility study, that was initiated in mid-2022, is expected
to be completed in the second half of 2023. A permit application was submitted to the Chilean regulator in early 2023 and accepted for
review. We are now working with the regulator to progress the application. QBME is expected to be a significant contributor to our near-term
copper growth portfolio with potential first production as early as 2026.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">On February 15, 2023, we announced the closing of an agreement with PolyMet
Mining Corp (PolyMet) to form a 50:50 joint venture to advance PolyMet's NorthMet project and Teck's Mesaba mineral deposit. The joint
venture is held and operated through a new entity called NewRange Copper Nickel LLC. A new leadership and management team in place, which
is now focused on advancing permitting and development of the NorthMet deposit and permitting of the Mesaba deposit to deliver critical
minerals copper, nickel, cobalt, platinum and palladium. Updates to the NorthMet feasibility study, including design, construction, execution
plans and cost estimates, are underway and expected to be complete by the first half of 2024. The creation of the NewRange Copper Nickel
joint venture brings together two large, well-defined mineral resources in the established Iron Range mining region of Minnesota.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="margin: 0; font: 10pt Arial, Helvetica, Sans-Serif">On April 6, 2023, we announced that the San Nicol&aacute;s joint venture
transaction between Teck and Agnico Eagle to advance the San Nicol&aacute;s copper-zinc development project had closed. Teck and Agnico
Eagle are now 50/50 joint venture partners at San Nicol&aacute;s, working together to advance permitting and development of the high-quality
copper-zinc San Nicol&aacute;s project located in Zacatecas, Mexico. The joint venture partners are planning to submit an Environmental
Impact Assessment and Permit application for</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">San Nicol&aacute;s in the first half of 2023 and are targeting completion
of a feasibility study in the first half of 2024.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">At Highland Valley Copper, work continues on a feasibility study, detailed
social baseline studies, community discussions and related environmental permitting work for our HVC 2040 project, which has the potential
to extend operations to at least 2044. Completion of the feasibility study, expected in the second half of 2023, is running in parallel
to community discussions and an environmental impact assessment and permit submission planned in the second half of 2023.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">At Zafranal, the team is working closely with SENACE, the Peruvian Regulatory
Authority, to complete the review and approval of the Zafranal SEIA which is expected to be received in the second quarter of 2023. Updates
to the capital and operating cost estimates from the January 2020 Feasibility Study are underway with detailed engineering to formally
commence in the second half of 2023.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">At Galore Creek, Teck and its partner Newmont Corporation updated the Mineral
Resource estimate for the Galore Creek copper-gold-silver project in January 2023, resulting in an addition of 837 million pounds of copper
and 24 million ounces of silver in Measured and Indicated Resources. The update also included an 8.5% increase in estimated tonnes in
the Measured and Indicated Resource categories. The partners continue to advance prefeasibility study work on the Galore Creek project
which is expected to conclude in the second half of 2023.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="margin: 0; font: 10pt Arial, Helvetica, Sans-Serif">Strategic, technical and commercial assessments, including focused field
programs, permitting and community engagement work, for the advancement of Mesaba, Schaft Creek and NuevaUni&oacute;n are ongoing.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>ZINC BUSINESS UNIT</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD>&nbsp;</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="color: white; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                                             <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="color: white">(CAD$ in millions)</TD><TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; text-align: right">2023</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 74%; text-align: left">Zinc price (realized &ndash; US$/pound)</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">1.43</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">1.65</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Production (000&rsquo;s tonnes)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt; text-align: left">Refined zinc</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">62</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">69</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; text-align: left">Zinc in concentrate<SUP>1</SUP></TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">126</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">132</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">Sales (000&rsquo;s tonnes)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; text-align: left">Refined zinc</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">55</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">69</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt; text-align: left">Zinc in concentrate<SUP>1</SUP></TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">89</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">145</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Gross profit</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">128</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">247</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Gross profit before depreciation
and amortization<SUP>2</SUP></FONT></TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">173</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">305</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">Property, plant and equipment expenditures</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">36</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">20</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"> Notes:</P>



<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Represents production and sales from Red Dog. Excludes co-product zinc production
from our 22.5% proportionate interest in Antamina.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">This is a non-GAAP financial measure or ratio. See &#8220;<I>Use of Non-GAAP
Financial Measures and Ratios</I>&#8221; for further information.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in; color: #000F7B"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #000F7B; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-indent: 0pt; text-align: justify"><B>Performance</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Gross profit from our zinc business unit was $128 million in the first quarter
compared with $247 million a year ago. Gross profit decreased compared with a year ago (see table below) primarily due to lower zinc in
concentrate and refined zinc sales volumes and higher operating costs, which were slightly offset by a US$0.22 per pound increase in zinc
premiums on our refined zinc sales despite a 16% decrease in LME zinc price.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">At our Red Dog Operations, zinc production in the first quarter decreased
by 4%, or 5,400 tonnes, while lead production increased by 7% compared with the same period last year. The decrease in zinc production
was driven by severe weather that impacted operations in the first quarter. At our Trail Operations, refined zinc production was 10% and
refined lead was 14% lower than a year ago. Zinc production was impacted by continued effects of the severe weather experienced in December
and unplanned maintenance on one zinc roaster. Lead production was impacted by KIVCET boiler repairs requiring a 22-day unplanned shutdown
of KIVCET, and returned to operation by the end of the quarter.</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The table below summarizes the change in gross profit in our zinc business
unit for the quarter.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="color: white; font-weight: bold">Gross Profit (CAD$ in millions)</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                                             <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 87%; font-weight: bold; text-align: left">As reported in the fourth quarter of 2022</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">247</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Increase (decrease):</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt">Zinc price realized</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(15</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt">Sales volumes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(123</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt">Unit operating costs</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(35</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt">Co-product and by-product contribution</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(30</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt">Royalties</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">48</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt">Foreign exchange</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">23</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 10pt">Depreciation</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">13</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; padding-bottom: 1pt">Net decrease</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(119</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">As reported in current quarter</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">128</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 14.15pt; text-indent: -14.2pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Property, plant and equipment expenditures in the first quarter totaled
$36 million, including $27 million for sustaining capital, of which $15 million relates to our Trail Operations and $12 million relating
to our Red Dog Operations.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>Markets</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="color: #212121">The refined zinc market eased slightly in the
first quarter in Europe and North America as several European smelters returned to production and imports from Asia helped reduce the
backlog of orders while premiums in both markets remained above historic levels. Prices for zinc on the London Metals Exchange in the
first quarter averaged US$</FONT>1.42 <FONT STYLE="color: #212121">per pound, a decline from record highs in the first quarter of 2022
of US$</FONT>1.80 <FONT STYLE="color: #212121">per pound. Zinc prices continue to be impacted by rising inflationary pressures, concerns
of an economic slowdown in North America and Europe and a slower than expected return of Chinese spending. Automotive sales and production
improved in the quarter, but remain below historic levels on ongoing raw materials shortages and supply chain issues. Physical demand
for zinc metal for use in preserving steel for infrastructure applications and renewable energy remains well supported.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="color: #212121">The zinc concentrate market improved with spot
treatment charges falling in the first quarter as Chinese buyers continue to restock and European smelters resumed production as power
prices moderated. Imports of zinc concentrates to China in the </FONT>first <FONT STYLE="color: #212121">quarter increased </FONT>28<FONT STYLE="color: #212121">%
in the second half of 2022 over the previous six months and continued to increase in the first quarter of 2023, up </FONT>30<FONT STYLE="color: #212121">%
over the first three months of 2022. Imports over the last twelve months reached </FONT>1.9 <FONT STYLE="color: #212121">million tonnes,
which is the highest rolling twelve month level since 2009.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Although LME zinc stocks rose by 13,000 tonnes in the first quarter and
are up 41% over last year, they still represent some of the lowest levels since 1989. Stocks held on the Shanghai Futures Exchange (SHFE)
rose 76,900 tonnes in the first quarter. Total global exchange stocks remained well below historical levels, ending the quarter at 3.8
days of global consumption, compared to the 25-year average of 17.2 days. We estimate that total reported global stocks, which include
LME, SHFE and bonded stocks, rose by approximately 90,000 tonnes in the first quarter to less than 150,000 tonnes at the end of the quarter,
representing an estimated 3.8 days of global demand, compared to the 25-year average of 18.2 days.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #000F7B"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #000F7B"><B>Operations</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Red Dog</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Zinc production decreased to 126,200 tonnes in the first quarter compared
with 131,600 tonnes a year ago. The lower production was primarily due to severe snowstorms that resulted in capacity constraints in the
concentrate storage facility impacting mill throughput. Zinc sales volumes were 39% lower in the first quarter compared to a year ago.
Sales in the first quarter last year were higher than normal due to the late start to the 2021 shipping season.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Operating costs, before inventory changes, in the first quarter were US$104
million, or US$18 million higher than a year ago. The higher costs were expected and reflect the inflationary pressures of annual supplies
and consumables delivered to Red Dog during the 2022 shipping season.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Trail Operations</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Refined zinc production of 61,600 tonnes in the first quarter was 7,100
tonnes lower than a year ago and refined lead production was 16,000 tonnes in the first quarter, or 2,600 tonnes lower than a year ago.
Refined zinc production was impacted by unplanned roaster brick repairs as well as continued impacts from the extremely cold weather in
December. Lead production was impacted by significant KIVCET boiler repairs, despite extensive repairs completed in the fourth quarter
of 2022. By the end of March, KIVCET was back in operation. Work is underway to determine timing of the boiler replacement, previously
planned for 2026, based on this recent unplanned shutdown.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Operating costs, before changes in inventory, in the first quarter were
8% higher than a year ago at $146 million, primarily due to increased maintenance costs on the boiler and consumables costs.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>Cost of Sales</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Cost of sales was $488 million in the first quarter compared with $673 million
a year ago, with the decrease driven by lower concentrate purchases at our Trail Operations, partially offset by higher consumable costs.
Total cash unit costs<SUP>1</SUP> of product sold in the first quarter for our zinc mining operations, before cash margins for by-products<SUP>1</SUP>,
were US$0.68 per pound. This was US$0.19 per pound higher than a year ago and within our annual unit cost<SUP>1</SUP> guidance, primarily
driven by the increased cost of diesel and consumables as expected. Net cash unit costs<SUP>1</SUP> for zinc in the first quarter, after
cash margin for by-products<SUP>1</SUP> of US$0.69 per pound were US$0.23 per pound higher compared with a year ago.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD>&nbsp;</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="color: white; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                                             <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="color: white">(amounts reported in US$ per pound)</TD><TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; text-align: right">2023</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 74%; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Adjusted cash cost of sales<SUP>1</SUP></FONT></TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">0.44</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">0.33</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; padding-bottom: 1pt">Smelter processing charges</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">0.24</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0.16</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Total cash unit costs<SUP>1</SUP></B></FONT></TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">0.68</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.49</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Cash margin for by-products<SUP>1</SUP></FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">0.01</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(0.03</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Net cash unit costs<SUP>1</SUP></B></FONT></TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">0.69</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">0.46</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"> Note:</P>



<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">This is a non-GAAP financial measure or ratio. See &#8220;<I>Use of Non-GAAP
Financial Measures and Ratios</I>&#8221; for further information.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #000F7B; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #000F7B; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-indent: 0pt; text-align: justify"><B>Outlook</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Our 2023 annual guidance for our zinc business unit is outlined in our guidance
tables on pages 27 &mdash; 31 and is unchanged from our previously issued guidance.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">We currently expect sales of Red Dog zinc in concentrate to be in the range
of 45,000 to 55,000 tonnes in the second quarter of 2023, reflecting the normal seasonal pattern of Red Dog sales.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #000F7B"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>STEELMAKING COAL BUSINESS UNIT</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD>&nbsp;</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="color: white; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                                             <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="color: white">(CAD$ in millions)</TD><TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; text-align: right">2023</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 74%; text-align: left">Steelmaking coal price (realized US$/tonne)</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">282</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">357</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Steelmaking coal price (realized CAD$/tonne)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">382</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">452</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">Production (million tonnes)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">6.0</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5.6</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Sales (million tonnes)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">6.2</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6.0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">Gross profit</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">1,277</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,780</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Gross profit before depreciation
and amortization<SUP>1 </SUP></FONT></TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">1,543</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,032</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">Property, plant and equipment expenditures</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">126</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">93</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in"><B></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>Performance</B></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Gross profit in the first quarter from our steelmaking coal business unit
was $1.3 billion compared with $1.8 billion a year ago (see table below), primarily due to a 21% decrease in realized steelmaking coal
prices. Steelmaking coal prices still remain strong and are well above historical averages.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">First quarter sales volumes were 6.2 million tonnes, within our previously
announced guidance and 3% higher than the same period last year. Logistics chain performance in the first quarter continued to be impacted
by weather-related disruptions that occurred in the fourth quarter of 2022. Logistics chain performance substantially recovered to planned
operating levels by March.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The table below summarizes the change in gross profit in our steelmaking
coal business unit for the quarter:</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 1pt solid">Gross Profit (CAD$ in millions)</TD><TD STYLE="color: white; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: center; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 87%; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>As
reported in <FONT STYLE="color: black">first</FONT> quarter of 2022</B></FONT></TD><TD STYLE="width: 1%; color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; color: black; font-weight: bold; text-align: right">1,780</TD><TD STYLE="width: 1%; color: black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; font-weight: bold; text-align: left">Increase (decrease):</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt; color: black; text-align: left">Steelmaking coal price realized</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(595</TD><TD STYLE="color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; color: black; text-align: left">Sales volumes</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">61</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 10pt; color: black; text-align: left">Operating and transportation unit costs</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(106</TD><TD STYLE="color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; color: black; text-align: left">Foreign exchange</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">151</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 10pt; color: black; text-align: left">Depreciation</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">(14</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left; padding-bottom: 1pt">Net decrease</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">(503</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: left">As reported in current quarter</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: right">1,277</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in; color: #000F7B"><B>&nbsp;</B></P>

<P STYLE="margin: 0; font: 10pt Arial, Helvetica, Sans-Serif">Property, plant and equipment expenditures were $126 million in the first
quarter, which included $33 million associated with water projects. Capitalized stripping costs were $202 million in the first quarter
compared with $147 million in the same period last year due to a higher proportion of pits in early stages of mining and inflationary
impacts on our mining and maintenance costs.</P>
<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"> Note:</P>



<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">This is a non-GAAP financial measure or ratio. See &#8220;<I>Use of Non-GAAP
Financial Measures and Ratios</I>&#8221; for further information.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>Markets </B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The FOB Australia price assessments, lagged by one month, settled at US$315
per tonne; up from US$279 per tonne in the fourth quarter of 2022 and down from US$395 per tonne in the first quarter of 2022. Global
steel production continued to recover in the first quarter. Steelmaking coal prices remained elevated through much of the quarter, driven
by operational and logistics disruptions impacting Australian exports. Near the end of the quarter, prices softened as better weather
started to result in increased supply of Australian products.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The CFR China price assessments for the first quarter averaged US$328 per
tonne compared to US$305 per tonne in the fourth quarter of 2022 and US$405 per tonne in the first quarter of 2022. While China lifted
the unofficial ban on Australian coal, limited volume was imported in the first quarter. Chinese steel mills also continue to rely on
non-Australian coal to underpin the country&rsquo;s pro-growth economic measures. This was supported by China recently extending its provisional
zero tariff policy on coking coal imports through to the end of 2023.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>Operations</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">First quarter steelmaking coal production of 6.0 million tonnes was 7% higher
than the first quarter of 2022, supported by strong March performance, providing momentum for the remainder of 2023.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Total material movement during the first quarter was 8% higher than the
same period a year ago due to strong mining productivity and utilization of available equipment hours, reflective of pre-pandemic rates.
This was supported by continued improvements in absenteeism and workforce levels, which will remain a key priority until our workforce
stabilizes at planned levels.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>Cost of Sales</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Cost of sales was $1.1 billion in the first quarter, up from $986 million
in the same period last year. Adjusted site cash cost of sales<SUP>1</SUP> were within our previously announced guidance at $89 per tonne
in the first quarter, up from $77 per tonne a year ago. Our adjusted site cash cost of sales was higher than the same period a year ago,
primarily due to inflationary cost pressures which have impacted rates with suppliers, most notably in repair and maintenance parts, and
contractors.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Transportation unit costs<SUP>1</SUP> in the first quarter were $50 per
tonne compared to $46 per tonne in the same quarter last year. The increase was largely related to higher rail rates and port costs due
to increased utilization of third party terminals used to catch up from the weather disruptions from the fourth quarter of 2022.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"> Note:</P>



<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">This is a non-GAAP financial measure or ratio. See &#8220;<I>Use of Non-GAAP
Financial Measures and Ratios</I>&#8221; for further information.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The tables below report the components of our unit costs in Canadian and
equivalent U.S. dollars.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD>&nbsp;</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="color: white; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                                             <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="color: white">(amounts reported in CAD$ per tonne)</TD><TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; text-align: right">2023</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 74%; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Adjusted site cash
cost of sales<SUP>1 </SUP></FONT></TD><TD STYLE="width: 1%; color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; color: black; font-weight: bold; text-align: right">89</TD><TD STYLE="width: 1%; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 10%; color: black; text-align: right">77</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left; padding-bottom: 1pt">Transportation costs</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">50</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">46</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Unit
costs</B><SUP>1</SUP></FONT></TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: right">139</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; color: black">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: right">123</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD>&nbsp;</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="color: white; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                                             <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="color: white">(amounts reported in US$ per tonne)</TD><TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; text-align: right">2023</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 74%; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Adjusted site cash
cost of sales<SUP>1 </SUP></FONT></TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">66</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">61</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; padding-bottom: 1pt">Transportation costs</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">37</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">36</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Unit costs</B><SUP>1 </SUP></FONT></TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">103</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">97</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.3in; text-align: justify; text-indent: -0.3in; color: #000F7B"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"> Note:</P>



<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">This is a non-GAAP financial measure or ratio. See &#8220;<I>Use of Non-GAAP
Financial Measures and Ratios</I>&#8221; for further information.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-align: justify; text-indent: -0.3in; color: #000F7B"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Our total cost of sales for the quarter also included a $23 per tonne charge
for the amortization of capitalized stripping costs and $20 per tonne for other depreciation.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>Outlook </B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Our 2023 annual guidance for our steelmaking coal business unit is outlined
in our guidance tables on pages 27 &mdash; 31 and is unchanged from our previously issued guidance.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">We anticipate second quarter steelmaking coal sales to be between 6.2 and
6.6 million tonnes, as we complete the remaining balance of delayed sales from the fourth quarter of 2022. The anticipated sales volumes
for the second quarter will bring our clean coal inventories back down to normal levels and is based on the expectation that our logistics
chain will perform at planned operating levels.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">We continue to make improvements in workforce attraction and retention,
which will help drive higher equipment hours and productivity as we continue to recover from workforce constraints and COVID-19 absenteeism.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>Elk Valley Water Management Update</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">We continue to implement the water quality management measures required
by the Elk Valley Water Quality Plan (the Plan). The Plan establishes short-, medium- and long-term water quality targets for selenium,
nitrate, sulphate and cadmium to protect the environment and human health.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Our 2023 priorities include the ramp up of our current 77.5 million litres
per day constructed water treatment capacity to designed operating rates by the end of the year, a fourfold increase from 2020.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">With this additional capacity, we expect to achieve one of the primary objectives
of the Plan: stabilizing and reducing the selenium trend in the Elk Valley.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<P STYLE="margin: 0; font: 10pt Arial, Helvetica, Sans-Serif">Our 2023 and 2024 guidance related to sustaining capital investment in water
treatment facilities, water management (source control, calcite management and tributary management) and the incremental measures required
under the October 2020 Direction issued by Environment and Climate Change Canada (the Direction) are unchanged from our previously issued
guidance. Key projects include the North Line Creek Phase 1 treatment, the Fording River North 1 Phase 3 Saturated Rock Fill (SRF), and
the</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">advancement of the Fording River North 2 Phase 1 SRF, which will increase
treatment capacity in the north Elk Valley earlier than previously planned. The continued investment in water treatment during this time
frame will further increase our constructed water treatment capacity to 120 million litres per day by the end of 2026.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Final costs of implementing the Plan and other water quality initiatives
will depend in part on the technologies applied, on regulatory developments, and on the results of ongoing environmental monitoring and
modelling. The timing of expenditures will depend on resolution of technical issues, permitting timelines and other factors. Certain cost
estimates to date are based on limited engineering. Implementation of the Plan also requires additional operating permits. We expect that,
in order to maintain water quality, some form of water treatment will continue for an indefinite period after mining operations end. The
Plan contemplates ongoing monitoring to ensure that the water quality targets set out in the Plan are protective of the environment and
human health, and provides for adjustments if warranted by monitoring results. Proposed amendments to the Plan are under discussion with
provincial regulators and Indigenous communities.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The state of Montana's water quality standard for the Koocanusa Reservoir
downstream of our mining operations has been set aside on procedural grounds. We continue to engage with U.S. regulators to work towards
the establishment of appropriate science-based standards for the reservoir. Ongoing monitoring, as well as our continued research into
treatment technologies, could reveal unexpected environmental impacts, technical issues or advances associated with potential treatment
technologies. This could substantially increase or decrease both capital and operating costs associated with water quality management
or could materially affect our ability to permit mine life extensions in new mining areas.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>OTHER OPERATING INCOME AND EXPENSES</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Other operating income, net of other expense, was $307 million in the first
quarter compared with $117 million a year ago. Significant items in the first quarter included gains related to the Quintette and Mesaba
transactions of $258 million, $102 million from the Elkview business interruption claim, and $87 million of positive settlement pricing
adjustments, partly offset by $25 million of take or pay contracts and $22 million of share based compensation expense.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The table below outlines our outstanding receivable positions, which are
valued using provisional prices at December&nbsp;31, 2022 and March&nbsp;31, 2023.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD>&nbsp;</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="color: white; text-align: center">Outstanding at</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="color: white; text-align: center">Outstanding at</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD>&nbsp;</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="color: white; text-align: center">March&nbsp;31, 2023</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="color: white; text-align: center">December&nbsp;31, 2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">(payable pounds in millions)</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; text-align: right">Pounds</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; text-align: right">US$/lb.</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; text-align: right">Pounds</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; text-align: right">US$/lb.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 48%">Copper</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">134</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">4.08</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">168</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">3.80</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 3pt solid">Zinc</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">146</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">1.33</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">218</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">1.35</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Our finance expense includes the interest expense on our debt, on advances
to QBSA from SMM/SC and on lease liabilities, letters of credit and standby fees, interest components of our pension obligations and accretion
on our decommissioning and restoration provisions, less any interest that we capitalize against our development projects. Our finance
expense of $61 million in the first quarter was $16 million higher the same period last year partly due to higher accretion for our decommissioning
and restoration provision. In the second half of 2023, we expect our finance expense to increase compared to 2022 as we capitalize less
borrowing costs relating to the development of QB2 once we achieve commercial production.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Our non-operating income was $27 million in the first quarter compared with
an expense of $81 million in the same period last year. The significant item in the quarter was the $40 million of foreign exchange gains.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>Income Taxes </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #000F7B"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Provision for income and resource taxes was $655 million, or 35% of pre-tax
profit. Our rate is higher than the Canadian statutory income tax rate of 27% due to resource taxes and higher taxes in some foreign jurisdictions.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">We are subject to cash income and resource taxes in all jurisdictions. During
the quarter, we began making monthly statutory minimum Canadian income tax instalments for the 2023 taxation year. Based on income inclusion
timing rules related to the partnerships through which our Canadian steelmaking coal and copper operations are held, previously deferred
Canadian income tax payments of approximately $660 million associated with our 2022 earnings will be payable in February 2024 together
with our final tax payments associated with our 2023 earnings.</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>Discontinued Operation </B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">On February 2, 2023, we closed the transaction to sell our 21.3% interest
in the Fort Hills Energy Limited Partnership (Fort Hills) and associated downstream assets to Suncor for aggregate gross proceeds of approximately
$1 billion in cash. We do not anticipate any tax payable on the disposal.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Results from our interest in Fort Hills have been classified as discontinued
operation and assets held for sale beginning in the fourth quarter of 2022. During the first quarter, we had a loss of $26 million from
discontinued operations, reflecting the financial results of Fort Hills up to the closing transaction date of February 2, 2023.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>FINANCIAL POSITION AND LIQUIDITY</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Our financial position and liquidity remain strong. Our debt position, net
debt, and credit ratios are summarized in the table below:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD><TD STYLE="text-align: right; color: white; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; color: white; text-align: right">March&nbsp;31, 2023</TD><TD STYLE="text-align: right; color: white; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; color: white; text-align: right">December&nbsp;31, 2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 74%; text-align: left">Term notes</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">2,470</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">2,585</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">QB2 US$2.5 billion limited recourse project finance facility</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">2,500</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">Lease liabilities</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">423</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">422</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Carmen de Andacollo short-term loans</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">70</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">52</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">Antamina credit facilities</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">225</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">225</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; padding-bottom: 1pt">Less unamortized fees and discounts</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(68</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(71</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; padding-bottom: 1pt">Debt (US$ in millions)</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">5,620</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">5,713</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Debt (Canadian $ equivalent)<SUP>1</SUP> (A)</FONT></TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">7,606</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">7,738</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; padding-bottom: 1pt">Less cash balances</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(2,265</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,883</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Net debt<SUP>2</SUP> (B)</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">5,341</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">5,855</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Equity (C)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">27,480</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">26,511</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Net-debt to net-debt-plus-equity ratio<SUP>2</SUP> (B/(B+C))</FONT></TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">16</TD><TD STYLE="font-weight: bold; text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18</TD><TD STYLE="text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Net debt to adjusted EBITDA ratio<SUP>2</SUP></FONT></TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">0.6</TD><TD STYLE="font-weight: bold; text-align: left">x</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.6</TD><TD STYLE="text-align: left">x</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">Weighted average coupon rate on the term notes</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">5.4</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">%</TD><TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">5.3</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: left">%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 8pt">Notes:</FONT></P>



<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Translated
                                            at period end exchange rates.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">This
                                            is a non-GAAP financial measure or ratio. See &ldquo;<I>Use of Non-GAAP Financial Measures
                                            and Ratios</I>&rdquo; for further information.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Our liquidity was $8.0 billion as at April&nbsp;25, 2023, including $2.6
billion of cash.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">On February 1, 2023, we redeemed the 3.75% notes at maturity for $144 million
(US$108 million) plus accrued interest.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">We maintain various committed and uncommitted credit facilities for liquidity
and for the issuance of letters of credit. Our US$4.0 billion committed credit facility is a sustainability-linked facility, which involves
pricing adjustments that are aligned with our sustainability performance and strategy. Our sustainability performance over the term of
the facility is measured by Greenhouse Gas (GHG) intensity, percentage of women in Teck's workforce and safety. This facility does not
contain an earnings or cash flow-based financial covenant, a credit rating trigger or a general material adverse effect borrowing condition.
The only financial covenant under our bank agreements is a requirement for our adjusted net debt to capitalization ratio not to exceed
60%. That ratio was 16% at March&nbsp;31, 2023.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Antamina maintains a US$1.0 billion loan agreement that matures in July
2026. Our 22.5% share is US$225 million. The loan is non-recourse to us and the other Antamina owners.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">We also have various other uncommitted credit facilities, standby letters
of credit and surety bonds that primarily secure our reclamation obligations. The amounts issued under these facilities totaled approximately
$3.5 billion at March&nbsp;31, 2023. We may be required to post additional security in respect of reclamation at our sites in future periods
as additional land is disturbed, regulatory requirements change or closure plans are updated.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 23; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2px solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 5%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></TD><TD STYLE="width: 95%; text-align: right"><P STYLE="text-align: left; margin: 0; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 8pt"><I>Teck Resources Limited 2023 First Quarter News Release</I></FONT></P></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>Operating Cash Flow </B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Cash flow from operations in the first quarter was $1.1 billion compared
with $2.3 billion a year ago primarily, with the decrease reflecting lower prices for our primary products and reduced sales volumes.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">During the first quarter, changes in working capital items resulted in a
use of cash of $654 million compared with $516 million a year ago. The large use of cash in both periods was primarily due to an increase
in accounts receivable as a result of the timing of sales, particularly relating to steelmaking coal, and a reduction of accounts payable.
Typically, in the first quarter of each year we have a use of cash through our working capital by way of reduction of accounts payables
and other liabilities due to the payment of the seasonally larger fourth quarter NANA royalty at Red Dog, as well as other various annual
expenses paid in the first quarter.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>Investing Activities </B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Expenditures on property, plant and equipment were $1.3 billion in the first
quarter, including $903 million for the QB2 project and $230 million on sustaining capital. The largest components of sustaining capital
expenditures were $122 million at our steelmaking coal operations, $28 million at Quebrada Blanca and $25 million at Antamina.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Capitalized production stripping costs were $310 million in the first quarter
compared with $233 million a year ago. The majority of this represents the advancement of pits for future production at our steelmaking
coal operations. Stripping costs were higher than a year ago primarily due to steelmaking coal operations reaching a notable peak period
of capitalized stripping to advance the development of mine pits in support of future production. In addition, higher stripping costs
reflect initial pre-stripping activities at Quebrada Blanca to ready the operations and the impact of inflationary pressures across our
operations.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">In early February, we received cash proceeds of approximately $1.0 billion
upon completing the sale of our 21.3% interest in Fort Hills.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The table below summarizes our year-to-date capital spending for 2023:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="color: white">($ in millions)</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">Sustaining</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">Growth</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">QB2 Project</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">QB2 Ramp-up</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">Sub-total</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">Capitalized <BR>Stripping</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">Total</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 23%; color: black">Copper</TD><TD STYLE="width: 1%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 8%; color: black; text-align: right">75</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 8%; color: black; text-align: right">53</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 8%; color: black; text-align: right">903</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 8%; color: black; text-align: right">72</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 8%; color: black; text-align: right">1,103</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 8%; color: black; text-align: right">95</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 8%; color: black; text-align: right">1,198</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black">Zinc</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">27</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">9</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">&ndash;</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">&ndash;</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">36</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">13</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">49</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="color: black; text-align: left">Steelmaking coal</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">122</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">4</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">&ndash;</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">&ndash;</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">126</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">202</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">328</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">Corporate</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">6</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">6</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">6</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: right">230</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: right">66</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: right">903</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: right">72</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: right">1,271</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: right">310</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: right">1,581</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in; color: #000F7B"><B>Financing Activities</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">In the first quarter, we redeemed our 3.75% notes at maturity for $144 million
(US$108 million) plus accrued interest.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Interest and various finance fees and charges paid in the first quarter,
including amounts capitalized, were $95 million, $11 million lower than year ago reflecting the lower balance on our notes as a result
of purchases made in 2022.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">In the first quarter, we paid $321 million in respect of our regular base
quarterly dividend of $0.125 per share and a supplemental dividend of $0.50 per share.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>FINANCIAL RISK MANAGEMENT</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Sales of our products are denominated in U.S. dollars while a significant
portion of our expenses and capital expenditures are incurred in local currencies, particularly the Canadian dollar and the Chilean peso.
Foreign exchange fluctuations can have a significant effect on our operating margins, unless such fluctuations are offset by related changes
to commodity prices.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Our U.S. dollar denominated debt is subject to revaluation based on changes
in the Canadian/U.S. dollar exchange rate. As at March&nbsp;31, 2023, approximately $2.2 billion of our U.S. dollar denominated debt is
designated as a hedge against our foreign operations that have a U.S. dollar functional currency. As a result, any foreign exchange gains
or losses arising on that amount of our U.S. dollar debt are recorded in other comprehensive income, with the remainder being charged
to profit.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Commodity markets are volatile. Prices can change rapidly and customers
can alter shipment plans. This can have a substantial effect on our business and financial results. Continued uncertainty in global markets
arising from the macroeconomic outlook and government policy changes, including tariffs and the potential for trade disputes, may have
a significant positive or negative effect on the prices of the various products we produce.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">We remain confident in the longer-term outlook for our major commodities,
however, the extent, duration and impacts that COVID-19 may have on demand and prices for our commodities, on our suppliers and employees
and on global financial markets in the future, as well as the predicted impact on economic growth and demand for our products of monetary
policy aimed at curtailing inflation in various jurisdictions are uncertain and could be material.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>Commodity Prices and Sensitivities</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Commodity prices are a key driver of our profit and cash flows. On the
supply side, the depleting nature of ore reserves, difficulties in finding new ore bodies, the permitting processes, the availability
of skilled resources to develop projects, as well as infrastructure constraints, political risk and significant cost inflation may continue
to have a moderating effect on the growth in future production for the industry as a whole.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The sensitivity of our annualized profit (loss) attributable to shareholders
and EBITDA<SUP>5</SUP> to changes in the Canadian/U.S. dollar exchange rate and commodity prices, before pricing adjustments, based on
our current balance sheet, our 2023 mid-range production estimates, current commodity prices and a Canadian/U.S. dollar exchange rate
of $1.30, is as follows:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD>&nbsp;</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 3.75pt 0 0; text-align: right; color: white"><B>2023 Mid-Range</B></P> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right; color: white"><B>Production</B></P> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 1.5pt; text-align: right; color: white"><B>Estimates<SUP>1 </SUP></B></P></TD><TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; text-align: right">Changes</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 3.75pt 0 0; text-align: right; color: white"><B>Estimated Effect of
                                                            Change On Profit (Loss) Attributable to Shareholders<SUP>2</SUP></B></P> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 1.5pt; text-align: right; color: white">($ in millions)</P></TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 3.75pt 0 0; text-align: right; color: white"><B>Estimated</B></P> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right; color: white"><B>Effect on</B></P> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right; color: white"><B>EBITDA<SUP>2 5</SUP></B></P> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 1.5pt; text-align: right; color: white">($ in millions)</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 40%; color: black; text-align: left">US$ exchange</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; color: black; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">CAD$0.01</FONT></TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 12%; color: black; text-align: right">60</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 12%; color: black; text-align: right">98</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Copper (000's tonnes)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">417.5</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">US$0.01/lb</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">11</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Zinc (000's tonnes)<SUP>3</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">945.0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">US$0.01/lb</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">9</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">12</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Steelmaking coal (million tonnes)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25.0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">US$1/tonne</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">19</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">29</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">WTI<SUP>4</SUP></FONT></TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">US$1/bbl</FONT></TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">3</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">5</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-size: 8pt">Notes:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">All
                                            production estimates are subject to change based on market and operating conditions.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">The
                                            effect on our profit (loss) attributable to shareholders and on EBITDA of commodity price
                                            and exchange rate movements will vary from quarter to quarter depending on sales volumes.
                                            Our estimate of the sensitivity of profit and EBITDA to changes in the U.S. dollar exchange
                                            rate is sensitive to commodity price assumptions.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Zinc
                                            includes 280,000 tonnes of refined zinc and 665,000 tonnes of zinc contained in concentrate.
                                            </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Our
                                            WTI oil price sensitivity takes into account the change in operating costs across our business
                                            units, as our operations use a significant amount of diesel fuel.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">This
                                            is a non-GAAP financial measure or ratio. See &ldquo;<I>Use of Non-GAAP Financial Measures
                                            and Ratios</I>&rdquo; for further information.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>FINANCIAL INSTRUMENTS AND DERIVATIVES</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">We hold a number of financial instruments and derivatives that are recorded
on our balance sheet at fair value with gains and losses in each period included in other comprehensive income and profit for the period
as appropriate. The most significant of these instruments are marketable securities, metal-related forward contracts including those
embedded in our silver and gold streaming agreements, QB2 variable consideration to IMSA and settlements receivable and payable. Some
of our gains and losses on metal-related financial instruments are affected by smelter price participation and are taken into account
in determining royalties and other expenses. All are subject to varying rates of taxation depending on their nature and jurisdiction.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>GUIDANCE </B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.15pt">Our guidance for 2023, including production guidance
for the following three years, is outlined in the tables below. The guidance ranges reflect uncertainties including the potential for
extreme weather events and other potential disruptions. The guidance outlined below is unchanged from our previous disclosures, with the
exception of our QB2 capital cost guidance.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Like others in the industry, we continue to face inflationary pressures,
which have increased our operating costs compared to prior years. The increase in the cost of certain key supplies, including mining equipment,
fuel, tires and explosives, are being driven largely by price increases for underlying commodities such as steel, crude oil and natural
gas. While our underlying key mining drivers such as strip ratios and haul distances remain relatively stable, inflationary pressures
on diesel and other key input costs, as well as profit-based compensation, put upward pressure on our unit costs<SUP>1 </SUP>in 2022 and
are expected to persist through 2023.</P>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.15pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.15pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.15pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.15pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.15pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"> Note:</P>



<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">This is a non-GAAP financial measure or ratio. See &#8220;<I>Use of Non-GAAP
Financial Measures and Ratios</I>&#8221; for further information.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.15pt; color: #000F7B"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.15pt; color: #000F7B"><B></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.15pt; color: #000F7B"><B>Production Guidance</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The table below shows our share of production of our principal products
for 2022, our guidance for production for 2023 and for the following three years.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="color: white; border-bottom: Black 1pt solid">Units in 000&rsquo;s tonnes (excluding steelmaking coal and molybdenum)</TD><TD STYLE="color: white; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right; border-bottom: Black 1pt solid">2022</TD><TD STYLE="color: white; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; border-bottom: Black 1pt solid">Previous Guidance 2023</TD><TD STYLE="color: white; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right; border-bottom: Black 1pt solid">Change</TD><TD STYLE="color: white; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Current Guidance 2023</TD><TD STYLE="color: white; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; border-bottom: Black 1pt solid">Previous Three-Year Guidance 2024 &ndash; 2026</TD><TD STYLE="color: white; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right; border-bottom: Black 1pt solid">Change</TD><TD STYLE="color: white; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; border-bottom: Black 1pt solid">Current Guidance 2024 &ndash; 2026</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">PRINCIPAL PRODUCTS</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Copper</B><SUP>1 2 3</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 16pt; width: 23%; text-align: left; text-indent: -8pt">Highland Valley Copper</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">119.1</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right">110 - 118</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">&ndash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 10%; font-weight: bold; text-align: right">110 - 118</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right">120 - 165</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">&ndash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 10%; font-weight: bold; text-align: right">120 - 165</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 16pt; text-align: left; text-indent: -8pt">Antamina</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">102.3</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">90 - 97</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">90 - 97</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">90 - 100</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">90 - 100</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 16pt; text-align: left; text-indent: -8pt">Carmen de Andacollo</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">39.5</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">40 - 50</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">40 - 50</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">50 - 60</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">50 - 60</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 16pt; text-align: left; text-indent: -8pt">Quebrada Blanca</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">9.6</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; padding-bottom: 1pt">150 - 180</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; padding-bottom: 1pt">150 - 180</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; padding-bottom: 1pt">285 - 315</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; padding-bottom: 1pt">285 - 315</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">270.5</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">390 - 445</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">390 - 445</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">545 - 640</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">545 - 640</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Zinc</B><SUP>1 2 4</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 16pt; text-align: left; text-indent: -8pt">Red Dog</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">553.1</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">550 - 580</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">550 - 580</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">500 - 550</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">500 - 550</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 16pt; text-align: left; text-indent: -8pt">Antamina</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">97.4</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; padding-bottom: 1pt">95 - 105</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; padding-bottom: 1pt">95 - 105</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; padding-bottom: 1pt">55 - 95</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; padding-bottom: 1pt">55 - 95</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">650.5</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; padding-bottom: 1pt">645 - 685</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; padding-bottom: 1pt">645 - 685</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; padding-bottom: 1pt">555 - 645</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; padding-bottom: 1pt">555 - 645</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Refined zinc</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 16pt; text-align: left; text-indent: -8pt">Trail Operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">248.9</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">270 - 290</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">270 - 290</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">280 - 310</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">280 - 310</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 3.75pt 0 0"><B>Steelmaking coal</B></P> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 1.5pt">(million tonnes)</P></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21.5</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">24.0 - 26.0</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">24.0 - 26.0</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">24.0 - 26.0</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">24.0 - 26.0</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">OTHER PRODUCTS</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Lead</B><SUP>1</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 16pt; text-align: left; text-indent: -8pt">Red Dog</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">79.5</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">110 - 125</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">110 - 125</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">85 - 95</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">85 - 95</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 3.75pt 0 0"><B>Molybdenum</B></P> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 1.5pt">(million pounds)<SUP>1 2</SUP></P></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 16pt; text-align: left; text-indent: -8pt">Highland Valley Copper</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0.8 - 1.2</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">0.8 - 1.2</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2.0 - 6.0</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">2.0 - 6.0</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 16pt; text-align: left; text-indent: -8pt">Antamina</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.5</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2.2 - 2.6</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">2.2 - 2.6</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2.0 - 4.0</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">2.0 - 4.0</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 16pt; text-align: left; text-indent: -8pt">Quebrada Blanca</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; padding-bottom: 1pt">1.5 - 3.0</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; padding-bottom: 1pt">1.5 - 3.0</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; padding-bottom: 1pt">10.0 - 14.0</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; padding-bottom: 1pt">10.0 - 14.0</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">2.5</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: right; padding-bottom: 1pt">4.5 - 6.8</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right; padding-bottom: 1pt">4.5 - 6.8</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: right; padding-bottom: 1pt">14.0 - 24.0</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right; padding-bottom: 1pt">14.0 - 24.0</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 8pt">Notes:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Metal
                                            contained in concentrate. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">We
                                            include 100% of production and sales from our Quebrada Blanca and Carmen de Andacollo mines
                                            in our production and sales volumes, even though we do not own 100% of these operations,
                                            because we fully consolidate their results in our financial statements. We include 22.5%
                                            of production and sales from Antamina, representing our proportionate ownership interest.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Copper
                                            production includes cathode production at Quebrada Blanca and Carmen de Andacollo.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Total
                                            zinc includes co-product zinc production from our 22.5% proportionate interest in Antamina.
                                            </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt">&nbsp;</P>


<!-- Field: Page; Sequence: 28; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2px solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 5%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence --></TD><TD STYLE="width: 95%; text-align: right"><P STYLE="text-align: left; margin: 0; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 8pt"><I>Teck Resources Limited 2023 First Quarter News Release</I></FONT></P></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in; color: #000F7B"><B>Sales Guidance</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The table below shows our sales for the last quarter and our sales guidance
for the next quarter for selected primary products.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD>&nbsp;</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">Q1 2023</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">Guidance <BR>Q2 2023</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Zinc (000's tonnes)<SUP>1</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; width: 74%; color: black; text-align: left">Red Dog</TD><TD STYLE="width: 1%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; color: black; text-align: right">89</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; color: black; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">45 - 55</FONT></TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: left; padding-bottom: 1pt">Steelmaking coal (million tonnes)</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: right">6.2</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">6.2 - 6.6</FONT></TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-size: 8pt">Note:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Metal
                                            contained in concentrate.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>Unit Cost Guidance</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The table below shows our unit costs for selected products 2022 and our
unit cost guidance for selected principal products in 2023.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD>&nbsp;</TD><TD STYLE="color: white; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">2022</TD><TD STYLE="color: white; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">Previous <BR>Guidance 2023</TD><TD STYLE="color: white; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">Change</TD><TD STYLE="color: white; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 3.75pt 0 0; text-align: right; text-indent: -9.9pt; color: white"><B>Current </B></P> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 1.5pt; text-align: right; text-indent: -9.9pt; color: white"><B>Guidance 2023</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Copper</B><SUP>1</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 43%; text-align: left"><P STYLE="text-align: left; text-indent: -6pt; padding-left: 12pt">Total cash unit costs<SUP>4</SUP> (US$/lb.)</P></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 13%; text-align: right">2.02</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 13%; text-align: right">2.05 - 2.25</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 13%; font-weight: bold; text-align: right">2.05 - 2.25</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -6pt; padding-left: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Net cash unit costs<SUP>3 4 </SUP>(US$/lb.)</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.56</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1.60 - 1.80</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">1.60 - 1.80</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Zinc</B><SUP>2</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left"><P STYLE="text-align: left; text-indent: -6pt; padding-left: 12pt">Total cash unit costs<SUP>4</SUP> (US$/lb.)</P></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.58</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0.68 - 0.78</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">0.68 - 0.78</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -6pt; padding-left: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Net cash unit costs<SUP>3 4</SUP> (US$/lb.)</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.44</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0.50 - 0.60</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">0.50 - 0.60</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Steelmaking coal</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left; text-indent: -6pt; padding-left: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Adjusted site cash cost of sales<SUP>4 </SUP>(CAD$/tonne)</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">89</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">88 - 96</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">88 - 96</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left; text-indent: -6pt; padding-left: 12pt">Transportation costs
    (CAD$/tonne)</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">47</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: right; padding-bottom: 2.5pt">45 - 48</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right; padding-bottom: 2.5pt">45 - 48</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 8pt">Notes:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Copper
                                            unit costs are reported in U.S. dollars per payable pound of metal contained in concentrate.
                                            Copper net cash unit costs include adjusted cash cost of sales and smelter processing charges,
                                            less cash margins for by-products including co-products. Guidance for 2023 assumes a zinc
                                            price of US$1.45 per pound, a molybdenum price of US$17.00 per pound, a silver price of US$20
                                            per ounce, a gold price of US$1,755 per ounce and a Canadian/U.S. dollar exchange rate of
                                            $1.33. Excludes Quebrada Blanca. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Zinc
                                            unit costs are reported in U.S. dollars per payable pound of metal contained in concentrate.
                                            Zinc net cash unit costs are mine costs including adjusted cash cost of sales and smelter
                                            processing charges, less cash margins for by-products. Guidance for 2023 assumes a lead price
                                            of US$0.90 per pound, a silver price of US$20 per ounce and a Canadian/U.S. dollar exchange
                                            rate of $1.33. By-products include both by-products and co-products. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">After
                                            co-product and by-product margins and excluding Quebrada Blanca.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">This
                                            is a non-GAAP financial measure or ratio. See &ldquo;<I>Use of Non-GAAP Financial Measures
                                            and Ratios</I>&rdquo; for further information.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 29; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2px solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 5%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->29<!-- Field: /Sequence --></TD><TD STYLE="width: 95%; text-align: right"><P STYLE="text-align: left; margin: 0; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 8pt"><I>Teck Resources Limited 2023 First Quarter News Release</I></FONT></P></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>Capital Expenditure Guidance</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The table below shows our capital expenditures for 2022 and our capital
expenditure guidance for 2023.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="color: white">(Teck&rsquo;s share in CAD$ millions)</TD><TD STYLE="color: white; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">2022</TD><TD STYLE="color: white; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">Previous <BR>Guidance 2023</TD><TD STYLE="color: white; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">Change</TD><TD STYLE="color: white; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 3.75pt 0 0; text-align: right; text-indent: -9.9pt; color: white"><B>Current
Guidance 2023</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-indent: -6pt; padding-left: 7.1pt">Sustaining</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 40%; text-indent: -6pt; padding-left: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Copper<SUP>1</SUP></FONT></TD><TD STYLE="width: 1%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 12%; color: black; text-align: right">297</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 12%; color: black; text-align: right">510</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 12%; color: black; text-align: right">&ndash;</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 12%; color: black; font-weight: bold; text-align: right">510</TD><TD STYLE="width: 1%; color: black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -6pt; padding-left: 14.15pt">Zinc</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">244</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">150</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">&ndash;</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">150</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: -6pt; padding-left: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Steelmaking coal<SUP>2</SUP></FONT></TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">520</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">760</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">&ndash;</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">760</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-indent: -6pt; padding-left: 14.15pt">Corporate</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">17</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">10</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">10</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">1,078</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">1,430</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">1,430</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-indent: -6pt; padding-left: 7.1pt">Growth</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: -6pt; padding-left: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Copper<SUP>3</SUP></FONT></TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">217</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">250</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">&ndash;</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="color: black; font-weight: bold; text-align: right">250</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -6pt; padding-left: 14.15pt">Zinc</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">37</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">80</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">&ndash;</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">80</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left; text-indent: -6pt; padding-left: 14.15pt">Steelmaking coal</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">30</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">30</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">&ndash;</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">30</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-indent: -6pt; padding-left: 14.15pt">Corporate</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">1</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">285</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">360</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">360</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-indent: -6pt; padding-left: 7.1pt">Total</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: -6pt; padding-left: 14.15pt">Copper</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">514</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">760</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">&ndash;</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="color: black; font-weight: bold; text-align: right">760</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -6pt; padding-left: 14.15pt">Zinc</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">281</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">230</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">&ndash;</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">230</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left; text-indent: -6pt; padding-left: 14.15pt">Steelmaking coal</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">550</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">790</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">&ndash;</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">790</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-indent: -6pt; padding-left: 14.15pt">Corporate</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">18</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">10</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">10</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">1,363</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">1,790</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">&ndash;</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="color: black; font-weight: bold; text-align: right">1,790</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; padding-bottom: 1pt; text-indent: -6pt; padding-left: 7.1pt">QB2 capital expenditures</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">3,060</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"> 1,200 - 1,750</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">450</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B> 1,650 - 2,200</B></FONT></TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -6pt; padding-left: 7.1pt">Total before SMM and SC contributions</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">4,423</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">2,990 - 3,540</FONT></TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">450</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>3,440 - 3,990</B></FONT></TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left; text-indent: -6pt; padding-left: 7.1pt">Estimated SMM and SC contributions to capital expenditures</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(1,090</TD><TD STYLE="color: black; text-align: left">)</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(520) - (700)</FONT></TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(150</TD><TD STYLE="color: black; text-align: left">)</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>(670) - (850)</B></FONT></TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; padding-bottom: 1pt; text-indent: -6pt; padding-left: 7.1pt">Estimated QB2 project financing draw to capital expenditures</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">(315</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left; padding-bottom: 1pt; text-indent: -6pt; padding-left: 7.1pt">Total, net of partner contributions and project financing</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: right">3,018</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"> 2,470 - 2,840</FONT></TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: right">300</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B> 2,770 - 3,140</B></FONT></TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  </TABLE>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-size: 8pt">Notes:</FONT></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Copper
                                            sustaining capital guidance for 2023 includes Quebrada Blanca concentrate operations. </FONT></TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Steelmaking
                                            coal sustaining capital 2023 guidance includes $220 million of water treatment capital. 2022
                                            guidance includes $200 million of water treatment capital. </FONT></TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Copper
                                            growth capital guidance for 2023 includes studies for HVC 2040, Zafranal, San Nicol&aacute;s,
                                            NewRange Copper Nickel (formerly Mesaba and NorthMet), Quebrada Blanca Mill Expansion (QBME),
                                            Galore Creek, Schaft Creek and NuevaUni&oacute;n.</FONT></TD></TR></TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 30; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2px solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 5%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->30<!-- Field: /Sequence --></TD><TD STYLE="width: 95%; text-align: right"><P STYLE="text-align: left; margin: 0; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 8pt"><I>Teck Resources Limited 2023 First Quarter News Release</I></FONT></P></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in; color: #000F7B"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in; color: #000F7B"><B>Capital Expenditure Guidance
&ndash; Capitalized Stripping</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in; color: #000F7B"><B>&nbsp;</B></P>

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  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="color: white">(Teck's share in CAD$ millions)</TD><TD STYLE="color: white; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">2022</TD><TD STYLE="color: white; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">Previous <BR>Guidance 2023</TD><TD STYLE="color: white; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">Change</TD><TD STYLE="color: white; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 3.75pt 0 0; text-align: right; text-indent: -9.9pt; color: white"><B>Current
Guidance 2023</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 6pt; width: 48%; color: black">Copper</TD><TD STYLE="width: 1%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 10%; color: black; text-align: right">336</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 10%; color: black; text-align: right">295</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 10%; color: black; text-align: right">&ndash;</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; color: black; font-weight: bold; text-align: right">295</TD><TD STYLE="width: 1%; color: black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 6pt; color: black">Zinc</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">89</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">55</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">&ndash;</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">55</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 6pt; color: black">Steelmaking coal</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">617</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">750</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">750</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: right">1,042</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: right">1,100</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: right">1,100</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in"><B>QUARTERLY PROFIT (LOSS) AND CASH FLOW</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD>&nbsp;</TD><TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; text-align: center">2023</TD><TD STYLE="border-left: Black 1pt solid; color: white">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="color: white; text-align: center">2022</TD><TD STYLE="border-left: Black 1pt solid; color: white">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="color: white; text-align: center">2021</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="color: white; text-align: left">(in millions, except for share data)</TD><TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; text-align: center">Q1</TD><TD STYLE="border-left: Black 1pt solid; color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: center">Q4</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: center">Q3</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: center">Q2</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: center">Q1</TD><TD STYLE="border-left: Black 1pt solid; color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: center">Q4</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: center">Q3</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: center">Q2</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: center">Q1</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 19%">Revenue</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 6%; font-weight: bold; text-align: right">3,785</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">3,140</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">4,260</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">5,300</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">4,616</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">4,196</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">3,792</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">2,394</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">2,384</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Gross profit</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">1,666</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,154</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,797</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,142</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,478</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,114</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,690</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">723</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">687</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 6pt; text-align: left; text-indent: -6pt">Profit (loss) attributable to <BR>shareholders</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">1,140</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">266</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(195</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,675</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,571</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,487</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">816</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">260</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">305</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 6pt; text-align: left; text-indent: -6pt">Basic earnings (loss) <BR>per share</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">2.22</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.52</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(0.37</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3.12</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.93</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.79</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.53</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.49</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.57</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 6pt; text-align: left; text-indent: -6pt">Diluted earnings (loss) <BR>per share</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">2.18</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.51</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(0.37</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3.07</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.87</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.74</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.51</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.48</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.57</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 3pt solid; padding-left: 6pt; text-align: left; text-indent: -6pt">Cash flow from operations</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">1,092</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; border-bottom: Black 3pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">930</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">1,809</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">2,921</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">2,323</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; border-bottom: Black 3pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">2,098</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">1,480</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">575</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">585</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in; color: #000F7B"><B></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>AREA OF JUDGMENT AND CRITICAL ACCOUNTING ESTIMATES</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">In preparing our consolidated financial statements, we make judgments in
applying our accounting policies. The judgments that have the most significant effect on the amounts recognized in our financial statements
include the assessment of impairment indicators, the determination of the available for use date for property, plant and equipment, accounting
for joint arrangements, streaming transactions and the accounting for income taxes. In addition, we make assumptions about the future
in deriving estimates used in preparing our consolidated financial statements. Sources of estimation uncertainty include estimates used
to determine the recoverable amounts of long-lived assets, recoverable reserves and resources, the provision for income taxes and the
related deferred tax assets and liabilities and the valuation of other assets and liabilities including decommissioning and restoration
provisions. These areas of judgment and critical accounting estimates are consistent with those reported in our 2022 annual consolidated
financial statements and Management's Discussion and Analysis, except as outlined below.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>ADOPTION OF NEW ACCOUNTING STANDARDS AND ACCOUNTING DEVELOPMENTS</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #000F7B"><B>Amendments to IFRS 9, IAS 39, IFRS
7, IFRS 4 and IFRS 16 &ndash; Interest Rate Benchmark Reform &ndash; Phase 2</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">In August 2020, the IASB issued amendments to IFRS 9, <I>Financial Instruments</I>
(IFRS 9), IAS 39, <I>Financial Instruments: Recognition and Measurement</I> (IAS 39), IFRS 7, <I>Financial Instruments: Disclosures</I>
(IFRS 7), IFRS 4, <I>Insurance Contracts</I> (IFRS 4) and IFRS 16, <I>Leases</I> (IFRS 16) as a result of Phase 2 of the IASB&rsquo;s
Interest Rate Benchmark Reform project. The amendments address issues arising in connection with reform of benchmark interest rates, including
the replacement of one benchmark rate with an alternative one. The amendments were effective January 1, 2021.</P>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in; color: #000F7B">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Term Secured Overnight Financing Rate (Term SOFR) was formally recommended
by the Alternative Reference Rates Committee (a committee convened by the U.S. Federal Reserve Board) as the recommended fallback for
USD London Interbank Offered Rate (LIBOR) based loans. Term SOFR is expected to be largely equivalent on an economic basis to LIBOR, allowing
for use of the practical expedient under IFRS 9. Our QB2 project financing facility, Compa&ntilde;&iacute;a Minera Antamina S.A. (Antamina)
loan agreement and QB2 advances from Sumitomo Metal Mining Co., Ltd. and Sumitomo Corporation (together referred to as SMM/SC) are our
most significant financial instruments that are exposed to LIBOR.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">During the year ended December 31, 2022, we transitioned our sustainability-linked
revolving credit facility to Term SOFR. This did not affect our financial statements as this credit facility remains undrawn. As at March
31, 2023, we have not yet transitioned the remaining financial instruments that use the LIBOR settings that are currently scheduled to
cease publication after June 30, 2023. We continue to work with our lenders on the replacement of the affected rates for our other significant
financial instruments, which is not expected to result in a significant change to our financial statements, our interest rate risk management
strategy or our interest rate risk.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 0; text-align: justify; color: #000F7B"><B>Amendments to IAS 1 &ndash;
Presentation of Financial Statements</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">In October 2022, the IASB issued amendments to IAS 1, <I>Presentation of
Financial Statements </I>titled <I>Non-current liabilities with covenants. </I>These amendments sought to improve the information that
an entity provides when its right to defer settlement of a liability is subject to compliance with covenants within 12 months after the
reporting period. These amendments to IAS 1 override but incorporate the previous amendments, <I>Classification of liabilities as current
or non-current,</I> issued in January 2020, which clarified that liabilities are classified as either current or non-current depending
on the rights that exist at the end of the reporting period. Liabilities should be classified as non-current if a company has a substantive
right to defer settlement for at least 12 months at the end of the reporting period. The amendments are effective January 1, 2024, with
early adoption permitted. Retrospective application is required on adoption. We do not expect these amendments to have a material effect
on our financial statements.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 27pt; text-indent: -27pt; color: #000F7B"><B>Amendment to IAS 1 and IFRS
Practice Statement 2 &ndash; Disclosure of Accounting Policies</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">In February 2021, the IASB issued amendments to IAS 1, <I>Presentation of
Financial Statements</I> and the IFRS Practice Statement 2 <I>Making Materiality Judgements</I> to provide guidance on the application
of materiality judgments to accounting policy disclosures. The amendments to IAS 1 replace the requirement to disclose &lsquo;significant&rsquo;
accounting policies with a requirement to disclose &lsquo;material&rsquo; accounting policies. Guidance and illustrative examples are
added in the Practice Statement to assist in the application of materiality concept when making judgments about accounting policy disclosures.
The amendments are effective for annual periods beginning on or after January 1, 2023, with early adoption permitted. Prospective application
is required on adoption. We do not expect these amendments to have a material effect on our annual financial statements.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>OUTSTANDING SHARE DATA</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">As at April 25, 2023, there were 507.2 million Class B subordinate voting
shares (Class B shares) and 7.8 million Class A common shares outstanding. In addition, there were approximately 15.2 million share options
outstanding with exercise prices ranging between $5.34 and $54.47 per share. More information on these instruments and the terms of their
conversion is set out in Note 25 of our 2022 audited consolidated financial statements.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>INTERNAL CONTROL OVER FINANCIAL REPORTING</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Our management is responsible for establishing and maintaining adequate
internal control over financial reporting. Any system of internal control over financial reporting, no matter how well designed, has inherent
limitations. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial
statement preparation and presentation.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">There have been no significant changes in our internal controls during the
quarter ended March&nbsp;31, 2023 that have materially affected, or are reasonably likely to materially affect, internal control over
financial reporting.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>REVENUE AND GROSS PROFIT</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-align: justify; text-indent: -0.3in">Our revenue and gross
profit by business unit are summarized in the tables below:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD>&nbsp;</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="color: white; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                                             <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="color: white">(Teck&rsquo;s share in CAD$ millions)</TD><TD STYLE="color: white; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; text-align: right">2023</TD><TD STYLE="color: white; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">REVENUE</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 6pt; font-weight: bold">Copper</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 12pt; width: 74%; text-align: left">Highland Valley Copper</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">315</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">444</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 12pt; text-align: left">Antamina</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">331</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">360</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 12pt; text-align: left">Carmen de Andacollo</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">97</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">97</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 12pt; text-align: left">Quebrada Blanca</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">20</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">29</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">763</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">930</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 6pt; font-weight: bold">Zinc</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 12pt; text-align: left">Trail Operations</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">483</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">584</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 12pt; text-align: left">Red Dog</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">264</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">524</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 12pt; text-align: left">Other</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">2</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 12pt; text-align: left">Intra-segment revenue</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(133</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(191</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">616</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">920</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 6pt; font-weight: bold">Steelmaking coal</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2,406</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,766</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; padding-bottom: 1pt">TOTAL REVENUE</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">3,785</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4,616</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="font-weight: bold; text-align: left">GROSS PROFIT</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 6pt; font-weight: bold">Copper</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 12pt; text-align: left">Highland Valley Copper</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">97</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">200</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 12pt; text-align: left">Antamina</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">176</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">214</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 12pt; text-align: left">Carmen de Andacollo</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(5</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 12pt; text-align: left">Quebrada Blanca</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(3</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 12pt; text-align: left">Other</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(4</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">261</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">451</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 6pt; font-weight: bold">Zinc</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 12pt; text-align: left">Trail Operations</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">12</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 12pt; text-align: left">Red Dog</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">106</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">236</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 12pt; text-align: left">Other</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">10</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(3</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">128</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">247</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 6pt; font-weight: bold">Steelmaking coal</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,277</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,780</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left; padding-bottom: 1pt">TOTAL GROSS PROFIT</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">1,666</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">2,478</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 34; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2px solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 5%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->34<!-- Field: /Sequence --></TD><TD STYLE="width: 95%; text-align: right"><P STYLE="text-align: left; margin: 0; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 8pt"><I>Teck Resources Limited 2023 First Quarter News Release</I></FONT></P></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in"><B>COST OF SALES SUMMARY</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-align: justify; text-indent: -0.3in">Our cost of sales information
by business unit is summarized in the tables below:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD>&nbsp;</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="color: white; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                                             <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="color: white">(Teck&rsquo;s share in CAD$ millions)</TD><TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; text-align: right">2023</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">OPERATING COSTS</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; padding-left: 6pt">Copper</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 74%; text-align: left; padding-left: 12pt">Highland Valley Copper</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">170</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">185</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 12pt">Antamina</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">85</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">78</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left; padding-left: 12pt">Carmen de Andacollo</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">77</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">53</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 12pt">Quebrada Blanca</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">21</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; padding-left: 12pt">Other</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">4</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">357</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">332</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; padding-left: 6pt">Zinc</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left; padding-left: 12pt">Trail Operations</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">158</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">145</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 12pt">Red Dog</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">75</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">75</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; padding-left: 12pt">Other</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(8</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">6</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">225</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">226</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 6pt">Steelmaking coal</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">551</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">459</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; padding-bottom: 1pt">Total operating costs</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,133</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,017</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="font-weight: bold; text-align: left">TRANSPORTATION COSTS</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; padding-left: 6pt">Copper</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left; padding-left: 12pt">Highland Valley Copper</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">9</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">13</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 12pt">Antamina</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">8</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; padding-left: 12pt">Carmen de Andacollo</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">8</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">5</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">25</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; padding-left: 6pt">Zinc</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left; padding-left: 12pt">Trail Operations</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">34</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">35</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; padding-bottom: 1pt; padding-left: 12pt">Red Dog</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">24</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">38</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">58</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">73</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 6pt">Steelmaking coal</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">312</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">275</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left; padding-bottom: 1pt">Total transportation costs</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">395</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">378</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>



<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<!-- Field: Page; Sequence: 35; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2px solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 5%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->35<!-- Field: /Sequence --></TD><TD STYLE="width: 95%; text-align: right"><P STYLE="text-align: left; margin: 0; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 8pt"><I>Teck Resources Limited 2023 First Quarter News Release</I></FONT></P></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt"><B>COST OF SALES SUMMARY</B>, continued</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD>&nbsp;</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="color: white; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                                             <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="color: white">(Teck&rsquo;s share in CAD$ millions)</TD><TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; text-align: right">2023</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">RAW MATERIAL PURCHASES</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; padding-left: 6pt">Zinc concentrate purchases</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left; padding-left: 12pt; width: 74%">Trail Operations</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">255</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">370</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; padding-left: 12pt">Intra-segment purchases</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(133</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(191</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total raw material purchases</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">122</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">179</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="font-weight: bold; text-align: left">ROYALTY COSTS</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; padding-left: 6pt">Copper</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left; padding-left: 12pt">Antamina</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">8</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">12</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="font-weight: bold; padding-left: 6pt">Zinc</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; padding-left: 12pt">Red Dog</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">38</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">137</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total royalty costs</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">46</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">149</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="font-weight: bold; text-align: left">DEPRECIATION AND AMORTIZATION</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; padding-left: 6pt">Copper</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left; padding-left: 12pt">Highland Valley Copper</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">39</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">46</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 12pt">Antamina</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">54</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">44</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left; padding-left: 12pt">Carmen de Andacollo</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">17</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; padding-left: 12pt">Quebrada Blanca</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">112</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">105</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="font-weight: bold; padding-left: 6pt">Zinc</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 12pt">Trail Operations</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">24</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; padding-left: 12pt">Red Dog</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">21</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">38</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">45</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">58</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-left: 6pt">Steelmaking coal</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">266</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">252</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; padding-bottom: 1pt">Total depreciation and amortization</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">423</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">415</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left; padding-bottom: 2.5pt">TOTAL COST OF SALES</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">2,119</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">2,138</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>


<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 36; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2px solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 5%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->36<!-- Field: /Sequence --></TD><TD STYLE="width: 95%; text-align: right"><P STYLE="text-align: left; margin: 0; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 8pt"><I>Teck Resources Limited 2023 First Quarter News Release</I></FONT></P></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in"><B>CAPITALIZED STRIPPING COSTS</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD>&nbsp;</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="color: white; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                                             <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="color: white">(Teck&rsquo;s share in CAD$ millions)</TD><TD STYLE="color: white; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; text-align: right">2023</TD><TD STYLE="color: white; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Copper</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left; padding-left: 12pt; width: 74%">Highland Valley Copper</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">38</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">35</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 12pt">Antamina</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">35</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">27</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left; padding-left: 12pt">Carmen de Andacollo</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">3</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; padding-left: 12pt">Quebrada Blanca</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">19</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">95</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">63</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="font-weight: bold">Zinc</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 12pt">Red Dog</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">13</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">23</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold">Steelmaking coal</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">202</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">147</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold">Total</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">310</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">233</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 37; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2px solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 5%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->37<!-- Field: /Sequence --></TD><TD STYLE="width: 95%; text-align: right"><P STYLE="text-align: left; margin: 0; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 8pt"><I>Teck Resources Limited 2023 First Quarter News Release</I></FONT></P></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in"><B></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in"><B>PRODUCTION AND SALES STATISTICS</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Production statistics for each of our operations are
presented in the tables below. Operating results are on a 100% basis.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD>&nbsp;</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="color: white; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                                             <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD>&nbsp;</TD><TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; text-align: right">2023</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">Highland Valley Copper</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 74%; text-align: left">&nbsp;&nbsp;&nbsp;Tonnes mined (000's)</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">18,438</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">18,317</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;Tonnes milled (000's)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">9,007</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,609</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;&nbsp;&nbsp;Copper</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Grade (%)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">0.29</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.34</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Recovery (%)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">91.3</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">90.8</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Production (000's tonnes)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">24.5</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">29.7</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales (000's tonnes)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">26.3</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">35.6</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;&nbsp;&nbsp;Molybdenum</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Production (million pounds)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">0.5</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.3</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales (million pounds)</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">0.3</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0.4</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold">Antamina</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;Tonnes mined (000's)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">57,939</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">58,118</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;Tonnes milled (000's)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Copper-only ore</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">6,201</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,663</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Copper-zinc ore</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">6,148</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">6,472</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">12,349</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,135</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;Copper<SUP>1</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Grade (%)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">0.88</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.94</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Recovery (%)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">87.4</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">88.0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Production (000's tonnes)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">91.1</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">110.9</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales (000's tonnes)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">99.5</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">101.2</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;Zinc<SUP>1</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Grade (%)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">1.82</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.02</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Recovery (%)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">84.2</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">85.6</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Production (000's tonnes)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">83.3</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">115.1</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales (000's tonnes)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">91.1</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">104.9</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;&nbsp;&nbsp;Molybdenum</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Production (million pounds)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">1.5</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.2</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales (million pounds)</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">2.0</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">1.3</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 8pt">Note:</FONT></P>



<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Copper
                                            ore grades and recoveries apply to all of the processed ores. Zinc ore grades and recoveries
                                            apply to copper-zinc ores only.</FONT></TD></TR></TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in">&nbsp;</P>


<!-- Field: Page; Sequence: 38; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2px solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 5%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->38<!-- Field: /Sequence --></TD><TD STYLE="width: 95%; text-align: right"><P STYLE="text-align: left; margin: 0; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 8pt"><I>Teck Resources Limited 2023 First Quarter News Release</I></FONT></P></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify; text-indent: -22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify; text-indent: -22.5pt"><B>PRODUCTION AND
SALES STATISTICS</B>, continued</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify; text-indent: -22.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD>&nbsp;</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="color: white; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                                             <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD>&nbsp;</TD><TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; text-align: right">2023</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">Carmen de Andacollo</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 74%; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Tonnes mined (000&rsquo;s)</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">5,731</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">5,074</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Tonnes milled (000&rsquo;s)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">4,246</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,196</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;Copper</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Grade (%)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">0.30</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.28</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Recovery (%)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">77.2</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">82.5</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Production (000&rsquo;s tonnes)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">9.8</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9.8</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales (000&rsquo;s tonnes)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">9.2</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8.4</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Copper cathode</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Production (000&rsquo;s tonnes)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">0.1</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.3</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales (000&rsquo;s tonnes)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.3</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;Gold<SUP>1</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Production (000&rsquo;s ounces)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">5.5</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6.5</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales (000&rsquo;s ounces)</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">6.3</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">6.8</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 8pt">Note:</FONT></P>



<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">100%
                                            of the gold produced is for the account of Royal Gold, Inc. until 900,000 ounces have been
                                            delivered, and 50% thereafter.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Quebrada Blanca</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 74%; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Production (000's tonnes)</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">1.9</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">2.3</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales (000's tonnes)</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1.6</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2.3</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-indent: -21.25pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Trail Operations</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;Concentrate treated (000&rsquo;s tonnes)</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 74%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zinc</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">122</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">131</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lead</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">27</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">32</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Metal production</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zinc (000's tonnes)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">61.6</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">68.7</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lead (000's tonnes)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">16.0</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18.6</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Silver (million ounces)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">2.4</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gold (000's ounces)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">4.1</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8.5</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Metal sales</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zinc (000's tonnes)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">54.5</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">69.0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lead (000's tonnes)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">14.9</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19.1</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Silver (million ounces)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">2.3</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gold (000's ounces)</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">4.1</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">7.8</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in">&nbsp;</P>


<!-- Field: Page; Sequence: 39; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2px solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 5%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->39<!-- Field: /Sequence --></TD><TD STYLE="width: 95%; text-align: right"><P STYLE="text-align: left; margin: 0; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 8pt"><I>Teck Resources Limited 2023 First Quarter News Release</I></FONT></P></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-indent: -21.25pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-indent: -21.25pt"><B>PRODUCTION AND SALES STATISTICS</B>,
continued</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-indent: -21.25pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-indent: -21.25pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD>&nbsp;</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="color: white; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                                             <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD>&nbsp;</TD><TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; text-align: right">2023</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">Red Dog</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 74%; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Tonnes mined (000's)</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">2,264</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">3,025</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Tonnes milled (000's)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">992</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,028</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;Zinc</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Grade (%)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">15.4</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15.2</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Recovery (%)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">82.8</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">84.3</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Production (000's tonnes)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">126.2</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">131.6</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales (000's tonnes)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">88.7</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">145.1</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;Lead</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Grade (%)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">4.3</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.8</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Recovery (%)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">54.4</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">55.1</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Production (000's tonnes)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">23.1</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21.5</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales (000's tonnes)</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="font-weight: bold">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold">Steelmaking coal</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 74%; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Waste production (million BCM&rsquo;s)</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">60.0</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">55.9</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Clean coal production (million tonnes)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">6.0</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5.6</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Clean coal strip ratio (waste BCM&rsquo;s/coal tonnes)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>10.0:1</B></FONT></TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">10.0:1</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;Sales (million tonnes)</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">6.2</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">6.0</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-indent: -21.25pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -21.25pt"><B>USE OF NON-GAAP FINANCIAL MEASURES AND
RATIOS</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Our financial results are prepared in accordance with International Financial
Reporting Standards (IFRS) as issued by the International Accounting Standards Board. This document refers to a number of non-GAAP financial
measures and non-GAAP ratios which are not measures recognized under IFRS and do not have a standardized meaning prescribed by IFRS or
by Generally Accepted Accounting Principles (GAAP) in the United States.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The non-GAAP financial measures and non-GAAP ratios described below do not
have standardized meanings under IFRS, may differ from those used by other issuers, and may not be comparable to similar financial measures
and ratios reported 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.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="color: #000F7B"><B>Adjusted profit attributable to shareholders</B></FONT>
&ndash; For adjusted profit attributable to shareholders, we adjust profit (loss) attributable to shareholders as reported to remove the
after-tax effect of certain types of transactions that reflect measurement changes on our balance sheet or are not indicative of our normal
operating activities.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="margin: 0; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: #000F7B"><B>EBITDA</B></FONT> &ndash; EBITDA is profit
before net finance expense, provision for income taxes, and depreciation and amortization.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-indent: -21.25pt">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="color: #000F7B"><B>Adjusted EBITDA</B></FONT> &ndash; Adjusted
EBITDA is EBITDA before the pre-tax effect of the adjustments that we make to adjusted profit attributable to shareholders as described
above.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Adjusted profit attributable to shareholders, EBITDA, and Adjusted EBITDA
highlight items and allow us and readers to analyze the rest of our results more clearly. We believe that disclosing these measures assists
readers in understanding the ongoing cash generating potential of our business in order to provide liquidity to fund working capital needs,
service outstanding debt, fund future capital expenditures and investment opportunities, and pay dividends.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="color: #000F7B"><B>Gross profit before depreciation and amortization</B></FONT>
&ndash; Gross profit before depreciation and amortization is gross profit with depreciation and amortization expense added back. We believe
this measure assists us and readers to assess our ability to generate cash flow from our business units or operations.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="color: #000F7B"><B>Gross profit margins before depreciation
and amortization</B></FONT> &ndash; Gross profit margins before depreciation are gross profit before depreciation and amortization, divided
by revenue for each respective business unit. We believe this measure assists us and readers to compare margins on a percentage basis
among our business units.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="color: #000F7B"><B>Unit costs </B></FONT>&ndash; Unit costs
for our steelmaking coal operations are total cost of goods sold, divided by tonnes sold in the period, excluding depreciation and amortization
charges. We include this information as it is frequently requested by investors and investment analysts who use it to assess our cost
structure and margins and compare it to similar information provided by many companies in the industry.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="color: #000F7B"><B>Adjusted site cash cost of sales</B></FONT>
&ndash; 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.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="color: #000F7B"><B>Total cash unit costs</B></FONT> &ndash;
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 presentation 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.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="color: #000F7B"><B>Net cash unit costs</B></FONT> &ndash; 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.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="color: #000F7B"><B>Adjusted cash cost of sales</B></FONT> &ndash;
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.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="color: #000F7B"><B>Cash margins for by-products</B></FONT>
&ndash; Cash margins for by-products is revenue from by- and co-products, less any associated cost of sales of the by and co-product.
In addition, for our copper operations, by-product cost of sales also includes cost recoveries associated with our streaming transactions.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="margin: 0; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: #000F7B"><B>Adjusted revenue</B></FONT> &ndash; Adjusted
revenue for our copper and zinc operations excludes the revenue from co-products and by-products, but adds back the processing and refining
charges to arrive at the value of the underlying payable pounds of copper and zinc. Readers may compare this on a per unit basis with
the price of copper and zinc on the LME.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The debt-related measures outlined below are disclosed as we believe they
provide readers with information that allows them to assess our credit capacity and the ability to meet our short and long-term financial
obligations.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="color: #000F7B"><B>Net debt </B></FONT>&ndash; Net debt is
total debt, less cash and cash equivalents.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="color: #000F7B"><B>Net debt to net debt-plus-equity ratio</B></FONT>
&ndash; net debt to net debt-plus-equity ratio is net debt divided by the sum of net debt plus total equity, expressed as a percentage.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="color: #000F7B"><B>Net debt to adjusted EBITDA ratio</B></FONT>
&ndash; net debt to adjusted EBITDA ratio is net debt divided by adjusted EBITDA for the twelve months ended at the reporting period,
expressed as the number of times adjusted EBITDA needs to be earned to repay the net debt.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="color: #000F7B"><B>Adjusted basic earnings per share </B></FONT>&ndash;
Adjusted basic earnings per share is adjusted profit attributable to shareholders divided by average number of shares outstanding in the
period.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="color: #000F7B"><B>Adjusted diluted earnings per share </B></FONT>&ndash;
Adjusted diluted earnings per share is adjusted profit attributable to shareholders divided by average number of fully diluted shares
in a period.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="color: #000F7B"><B>Adjusted site cash cost of sales per tonn</B></FONT><B>e</B>
&ndash; Adjusted site cash cost of sales per tonne is a non-GAAP ratio comprised of adjusted site cash cost of sales divided by tonnes
sold. There is no similar financial measure in our consolidated financial statements with which to compare. Adjusted site cash cost of
sales is a non-GAAP financial measure.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="color: #000F7B"><B>Total cash unit costs per pound</B></FONT>
&ndash;Total cash unit costs per pound is a non-GAAP ratio comprised of adjusted cash cost of sales divided by payable pounds sold plus
smelter processing charges divided by payable pounds sold.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="color: #000F7B"><B>Net cash unit costs per pound</B></FONT>
&ndash; Net cash unit costs per pound is a non-GAAP ratio comprised of (adjusted cash cost of sales plus smelter processing charges less
cash margin for by-products) divided by payable pounds sold. There is no similar financial measure in our consolidated financial statements
with which to compare. Adjusted cash cost of sales is a non-GAAP financial measure.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="color: #000F7B"><B>Cash margins for by-products per pound </B></FONT>&ndash;
Cash margins for by-products per pound is a non-GAAP ratio comprised of cash margins for by-products divided by payable pounds sold.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in; color: #000F7B"><B>Profit Attributable to
Shareholders and Adjusted Profit Attributable to Shareholders</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in; color: #000F7B"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD>&nbsp;</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="color: white; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                                             <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="color: white">(CAD$ in millions)</TD><TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; text-align: right">2023</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 74%; color: black; font-weight: bold; text-align: left">Profit from continuing operations attributable to shareholders</TD><TD STYLE="width: 1%; color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; color: black; font-weight: bold; text-align: right">1,166</TD><TD STYLE="width: 1%; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 10%; color: black; text-align: right">1,519</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Add (deduct) on an after-tax
basis<SUP>1</SUP>:</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: 10pt; color: black; text-align: left">QB2 variable consideration to IMSA and ENAMI</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">2</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">59</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 10pt; color: black; text-align: left">Environmental costs</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">13</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(60</TD><TD STYLE="color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: 10pt; color: black; text-align: left">Share-based compensation</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">18</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">82</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 10pt; color: black; text-align: left">Commodity derivatives</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">(4</TD><TD STYLE="color: black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(37</TD><TD STYLE="color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: 10pt; color: black; text-align: left">Loss (gain) on sale or contribution of assets</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">(186</TD><TD STYLE="color: black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">1</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 10pt; color: black; text-align: left">Elkview business interruption claim</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">(68</TD><TD STYLE="color: black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">&ndash;</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: 10pt; color: black; text-align: left">Profit from discontinued operations<SUP>2</SUP></TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">52</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: 10pt; color: black; text-align: left">Other</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">(11</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">4</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; padding-bottom: 1pt">Adjusted profit attributable to shareholders</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">930</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">1,620</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="font-weight: bold; text-align: left">Basic earnings per share from continuing operations</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="color: black; font-weight: bold; text-align: right">2.27</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">2.84</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Diluted earnings per share from continuing operations</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="color: black; font-weight: bold; text-align: right">2.23</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">2.78</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="font-weight: bold">Adjusted basic earnings per share</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="color: black; font-weight: bold; text-align: right">1.81</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">3.02</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold">Adjusted diluted earnings per share</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: right">1.78</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; color: black">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: right">2.96</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in; color: #000F7B">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"> Notes:</P>



<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Adjustments for the three months ended March 31, 2022 are as previously reported.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Adjustment required to remove the effect of discontinued operations for the three months ended March 31, 2022.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 43; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2px solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 5%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->43<!-- Field: /Sequence --></TD><TD STYLE="width: 95%; text-align: right"><P STYLE="text-align: left; margin: 0; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 8pt"><I>Teck Resources Limited 2023 First Quarter News Release</I></FONT></P></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in; color: #000F7B"><B>Reconciliation of Basic
Earnings per share to Adjusted Basic Earnings per share</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in; color: #000F7B"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD>&nbsp;</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="color: white; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                                             <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="color: white">(Per share amounts)</TD><TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; text-align: right">2023</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 74%; color: black; font-weight: bold; text-align: left">Basic earnings per share from continuing operations</TD><TD STYLE="width: 1%; color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; color: black; font-weight: bold; text-align: right">2.27</TD><TD STYLE="width: 1%; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 10%; color: black; text-align: right">2.84</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Add (deduct)<SUP>1</SUP>:</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: 10pt; color: black; text-align: left">QB2 variable consideration to IMSA and ENAMI</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">0.11</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 10pt; color: black; text-align: left">Environmental costs</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">0.03</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(0.11</TD><TD STYLE="color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: 10pt; color: black; text-align: left">Share-based compensation</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">0.03</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">0.15</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 10pt; color: black; text-align: left">Commodity derivatives</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">(0.01</TD><TD STYLE="color: black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(0.07</TD><TD STYLE="color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: 10pt; color: black; text-align: left">Loss (gain) on sale or contribution of assets</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">(0.36</TD><TD STYLE="color: black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">&ndash;</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 10pt; color: black; text-align: left">Elkview business interruption claim</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">(0.13</TD><TD STYLE="color: black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">&ndash;</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: 10pt; color: black; text-align: left">Profit from discontinued operations<SUP>2</SUP></TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">0.09</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: 10pt; color: black; text-align: left">Other</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">(0.02</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">0.01</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold">Adjusted basic earnings per share</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: right">1.81</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; color: black">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: right">3.02</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.3in; text-indent: -0.3in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in; color: #000F7B"><B>Reconciliation of Diluted
Earnings per share to Adjusted Diluted Earnings per share</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in; color: #000F7B"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD>&nbsp;</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="color: white; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                                             <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="color: white">(Per share amounts)</TD><TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; text-align: right">2023</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 74%; color: black; font-weight: bold; text-align: left">Diluted earnings per share from continuing operations</TD><TD STYLE="width: 1%; color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; color: black; font-weight: bold; text-align: right">2.23</TD><TD STYLE="width: 1%; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 10%; color: black; text-align: right">2.78</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Add (deduct)<SUP>1</SUP>:</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: 10pt; color: black; text-align: left">QB2 variable consideration to IMSA and ENAMI</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">0.11</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 10pt; color: black; text-align: left">Environmental costs</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">0.03</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(0.11</TD><TD STYLE="color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: 10pt; color: black; text-align: left">Share-based compensation</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">0.03</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">0.15</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 10pt; color: black; text-align: left">Commodity derivatives</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">(0.01</TD><TD STYLE="color: black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(0.07</TD><TD STYLE="color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: 10pt; color: black; text-align: left">Loss (gain) on sale or contribution of assets</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">(0.36</TD><TD STYLE="color: black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">&ndash;</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 10pt; color: black; text-align: left">Elkview business interruption claim</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">(0.13</TD><TD STYLE="color: black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">&ndash;</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: 10pt; color: black; text-align: left">Profit from discontinued operations<SUP>2</SUP></TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">0.09</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: 10pt; color: black; text-align: left">Other</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">(0.01</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">0.01</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold">Adjusted diluted earnings per share</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: right">1.78</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; color: black">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: right">2.96</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 8pt">Notes:</FONT></P>



<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Adjustments
                                            for the three months ended March 31, 2022 are as previously reported.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Adjustment
                                            required to remove the effect of discontinued operations for the three months ended March
                                            31, 2022.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 44; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2px solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 5%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->44<!-- Field: /Sequence --></TD><TD STYLE="width: 95%; text-align: right"><P STYLE="text-align: left; margin: 0; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 8pt"><I>Teck Resources Limited 2023 First Quarter News Release</I></FONT></P></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in; color: #000F7B"><B>Reconciliation of Net
Debt to Adjusted EBITDA Ratio</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in; color: #000F7B"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="background-color: rgb(0,15,123); vertical-align: bottom">
    <TD STYLE="padding-left: 6pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: White">&nbsp;</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: White">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: White">(A) <BR>Twelve months
    ended December&nbsp;31, 2022</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: White">&nbsp;</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: White">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: White">&nbsp;</FONT><P STYLE="text-align: center; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; color: #000F7B"></P>

<P STYLE="text-align: center; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; color: #000F7B"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; color: white; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: White">(B)
                                            <BR>Three months ended</FONT></P>
                                                                                                                        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; color: white; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: White">March
                                            31, 2022</FONT></P>

</TD><TD STYLE="text-align: center; font-weight: bold"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: White">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: White">(C) <BR>Three months ended March 31, 2023</FONT></TD><TD STYLE="text-align: center; font-weight: bold"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: White">&nbsp;</FONT></TD>
    <TD COLSPAN="5" STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: White">(A-B+C)
    <BR>Twelve months ended March&nbsp;31, 2023</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 6pt; text-align: left; text-indent: -6pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 6pt; width: 34%; text-align: left; text-indent: -6pt">Profit from continuing operations <BR>before taxes</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">6,565</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 5%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">2,368</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">1,856</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">6,053</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 6pt; text-align: left; text-indent: -6pt">Finance expense net of <BR>finance income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">150</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">43</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">30</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">137</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 6pt; text-align: left; text-indent: -6pt">Depreciation and amortization</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,674</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">415</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">423</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,682</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold">EBITDA</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">8,389</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,826</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">2,309</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">7,872</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Add (deduct)<SUP>1</SUP>:</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 12pt; text-align: left; text-indent: -6pt">Asset impairment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,234</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">1,234</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 12pt; text-align: left; text-indent: -6pt">Loss on debt purchase</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">58</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">58</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 12pt; text-align: left; text-indent: -6pt">QB2 variable consideration to IMSA and ENAMI</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">188</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">99</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">2</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">91</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 12pt; text-align: left; text-indent: -6pt">Environmental costs</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">128</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(82</TD><TD STYLE="text-align: left">)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">17</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">227</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 12pt; text-align: left; text-indent: -6pt">Inventory write-down</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">50</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 12pt; text-align: left; text-indent: -6pt">Share-based compensation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">236</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">110</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">22</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">148</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 12pt; text-align: left; text-indent: -6pt">Commodity derivatives</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(35</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(49</TD><TD STYLE="text-align: left">)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(6</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">8</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 12pt; text-align: left; text-indent: -6pt">Gain on sale of investments <BR>and assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(258</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(242</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 12pt; text-align: left; text-indent: -6pt">Elkview business interruption claim</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(102</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(102</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><P STYLE="padding-left: 12pt; text-align: left; text-indent: -6pt">Profit (loss) from discontinued operations<SUP>2</SUP></P></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(811</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">122</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(933</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 12pt; text-align: left; text-indent: -6pt">Other</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">113</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">16</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(12</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">85</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; padding-bottom: 1pt">Adjusted EBITDA</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">9,568</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(D)</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,044</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,972</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">8,496</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">(E)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Total debt at period end</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">7,738</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(F)</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">7,606</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>(G)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 6pt; border-bottom: Black 1pt solid; text-align: left; padding-bottom: 1pt; text-indent: -6pt">Less: cash and cash equivalents <BR>at period end</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,883</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(2,265</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Net debt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">5,855</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(H)</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">5,341</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>(I)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><P STYLE="text-indent: -6pt; font: 10pt Arial, Helvetica, Sans-Serif; margin: 3.75pt 0pt 0pt 6pt"><B>Debt
to adjusted EBITDA ratio</B></P></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.8</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(F/D)</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">0.9</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>(G/E)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 3.75pt 0pt 0pt 6pt; text-indent: -6pt"><B>Net Debt to adjusted EBITDA
ratio</B></P></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.6</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(H/D)</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">0.6</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>(I/E)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 6pt; text-align: left; text-indent: -6pt">Equity attributable to <BR>shareholders of the company</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">25,473</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(J)</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">26,316</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>(K)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 6pt; text-align: left; text-indent: -6pt">Other financial obligations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">441</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(L)</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">268</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>(M)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left; padding-bottom: 2.5pt"><P STYLE="text-indent: -6pt; font: 10pt Arial, Helvetica, Sans-Serif; margin: 3.75pt 0pt 0pt 6pt"><B>Adjusted
Net debt to capitalization ratio</B></P></TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">0.19</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 3pt solid; text-align: left"><P STYLE="text-align: left; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(H+L)/</FONT></P>

<P STYLE="text-align: left; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(F+J+L)</FONT></P>

</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">0.16</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left; padding-bottom: 2.5pt">(I+M)/ <BR>(G+K+M)</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 8pt">Notes:</FONT></P>



<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Adjustments
                                            for the (A) twelve months ended December 31, 2022 and (B) three months ended March 31, 2022
                                            are as previously reported.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Adjustment
                                            required to remove the effect of discontinued operations for the (A) nine months ended September
                                            30, 2022 and (B) three months ended March 31, 2022.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>Reconciliation of EBITDA and Adjusted EBITDA</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD>&nbsp;</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="color: white; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                                             <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="color: white">(CAD$ in millions)</TD><TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; text-align: right">2023</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 74%; color: black; text-align: left">Profit from continuing operations before taxes</TD><TD STYLE="width: 1%; color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; color: black; font-weight: bold; text-align: right">1,856</TD><TD STYLE="width: 1%; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 10%; color: black; text-align: right">2,368</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">Finance expense net of finance income</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">30</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">43</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left; padding-bottom: 1pt">Depreciation and amortization</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">423</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">415</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; font-weight: bold">EBITDA</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">2,309</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">2,826</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Add (deduct)<SUP>1</SUP>:</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="color: black; text-align: left; text-indent: 10pt">QB2 variable consideration to IMSA and ENAMI</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">2</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">99</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left; text-indent: 10pt">Environmental costs</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">17</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(82</TD><TD STYLE="color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="color: black; text-align: left; text-indent: 10pt">Share-based compensation</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">22</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">110</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left; text-indent: 10pt">Commodity derivatives</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">(6</TD><TD STYLE="color: black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(49</TD><TD STYLE="color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="color: black; text-align: left; text-indent: 10pt">Loss (gain) on sale or contribution of assets</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">(258</TD><TD STYLE="color: black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">2</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left; text-indent: 10pt">Elkview business interruption claim</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">(102</TD><TD STYLE="color: black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">&ndash;</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="color: black; text-align: left; text-indent: 10pt">Profit from discontinued operations<SUP>2</SUP></TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">122</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left; padding-bottom: 1pt; text-indent: 10pt">Other</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">(12</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">16</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: left">Adjusted EBITDA</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: right">1,972</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; color: black">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: right">3,044</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 8pt">Notes:</FONT></P>



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<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Adjustments
                                            for the three months ended March 31, 2022 are as previously reported.</FONT></TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Adjustment
                                            required to remove the effect of discontinued operations for the three months ended March
                                            31, 2022.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>


<!-- Field: Page; Sequence: 46; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2px solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 5%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->46<!-- Field: /Sequence --></TD><TD STYLE="width: 95%; text-align: right"><P STYLE="text-align: left; margin: 0; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 8pt"><I>Teck Resources Limited 2023 First Quarter News Release</I></FONT></P></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in; color: #000F7B"><B>Reconciliation of Gross
Profit Before Depreciation and Amortization</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in; color: #000F7B"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD>&nbsp;</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="color: white; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                                             <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="color: white">(CAD$ in millions)</TD><TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; text-align: right">2023</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 74%; color: black; text-align: left">Gross profit</TD><TD STYLE="width: 1%; color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; color: black; font-weight: bold; text-align: right">1,666</TD><TD STYLE="width: 1%; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 10%; color: black; text-align: right">2,478</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left; padding-bottom: 1pt">Depreciation and amortization</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">423</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">415</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left; padding-bottom: 1pt">Gross profit before depreciation and amortization</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">2,089</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">2,893</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="color: black">Reported as:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; font-weight: bold">Copper</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="color: black; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Highland Valley Copper</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="color: black; font-weight: bold; text-align: right">136</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">246</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black">&nbsp;&nbsp;&nbsp;&nbsp;Antamina</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">230</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">258</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="color: black; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Carmen de Andacollo</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">12</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">39</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Quebrada Blanca</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">(1</TD><TD STYLE="color: black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">13</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;Other</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">(4</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">373</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">556</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; font-weight: bold">Zinc</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="color: black; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Trail Operations</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">36</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">34</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Red Dog</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">127</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">274</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;Other</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">10</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">(3</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">173</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">305</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left; padding-bottom: 1pt">Steelmaking coal</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">1,543</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">2,032</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: left; padding-bottom: 2.5pt">Gross profit before depreciation and amortization</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: right">2,089</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 2.5pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: right">2,893</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 2.5pt; color: black; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 47; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2px solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 5%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->47<!-- Field: /Sequence --></TD><TD STYLE="width: 95%; text-align: right"><P STYLE="text-align: left; margin: 0; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 8pt"><I>Teck Resources Limited 2023 First Quarter News Release</I></FONT></P></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>Reconciliation of Gross Profit Margins Before Depreciation
and Amortization</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD>&nbsp;</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="color: white; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                                             <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="color: white">(CAD$ in millions)</TD><TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; text-align: right">2023</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="color: black; font-weight: bold">Revenue</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 74%; color: black; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Copper (A)</TD><TD STYLE="width: 1%; color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; color: black; font-weight: bold; text-align: right">763</TD><TD STYLE="width: 1%; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 10%; color: black; text-align: right">930</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Zinc (B)</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">616</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">920</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Steelmaking coal (C)</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">2,406</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">2,766</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">Total</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">3,785</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">4,616</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 3.75pt 0 0"><B>Gross profit before depreciation
and amortization</B></P></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Copper (E)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">373</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">556</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Zinc (F)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">173</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">305</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Steelmaking coal (G)</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,543</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,032</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">Total</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2,089</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,893</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 3.75pt 0 0"><B>Gross profit margins before
depreciation and amortization</B></P></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Copper (E/A)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">49</TD><TD STYLE="font-weight: bold; text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">60</TD><TD STYLE="text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Zinc (F/B)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">28</TD><TD STYLE="font-weight: bold; text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">33</TD><TD STYLE="text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;Steelmaking coal (G/C)</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">64</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">%</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">73</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; text-align: left">%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 48; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2px solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 5%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->48<!-- Field: /Sequence --></TD><TD STYLE="width: 95%; text-align: right"><P STYLE="text-align: left; margin: 0; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 8pt"><I>Teck Resources Limited 2023 First Quarter News Release</I></FONT></P></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>Copper Unit Cost Reconciliation </B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD>&nbsp;</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="color: white; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                                             <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="color: white">(CAD$ in millions, except where noted)</TD><TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; text-align: right">2023</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 74%; font-weight: bold">Revenue as reported</TD><TD STYLE="width: 1%; color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; color: black; font-weight: bold; text-align: right">763</TD><TD STYLE="width: 1%; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 10%; color: black; text-align: right">930</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black">Less:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="color: black; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Quebrada Blanca revenue as reported</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">(20</TD><TD STYLE="color: black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(29</TD><TD STYLE="color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;By-product revenue (A)</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">(104</TD><TD STYLE="color: black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(119</TD><TD STYLE="color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;Smelter processing charges (B)</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">39</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">33</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left; padding-bottom: 1pt">Adjusted revenue</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">678</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">815</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold">Cost of sales as reported</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="color: black; font-weight: bold; text-align: right">502</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">479</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left; padding-bottom: 1pt">Less: Quebrada Blanca cost of sales as reported</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">(23</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">(17</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="color: black; font-weight: bold; text-align: right">479</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">462</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="color: black">Less:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">(110</TD><TD STYLE="color: black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(104</TD><TD STYLE="color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="color: black; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Inventory write-down</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">&ndash;</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Labour settlement charges</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(23</TD><TD STYLE="color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;By-product cost of sales (C)</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">(25</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">(22</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left; padding-bottom: 1pt">Adjusted cash cost of sales (D)</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">344</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">313</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Payable pounds sold (millions)<SUP>1
</SUP>(E)</FONT></TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">123.0</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">142.7</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">Per unit amounts &ndash; CAD$/pound</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="color: black; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Adjusted cash cost of sales (D/E)</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="color: black; font-weight: bold; text-align: right">2.79</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">2.19</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;Smelter processing charges (B/E)</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">0.32</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">0.23</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">Total cash unit costs &ndash; CAD$/pound</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="color: black; font-weight: bold; text-align: right">3.11</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">2.42</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; padding-bottom: 1pt">Cash margin for by-products &ndash; ((A &ndash; C)/E)</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">(0.64</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">(0.68</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left; padding-bottom: 1pt">Net cash unit costs &ndash; CAD$/pound</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">2.47</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">1.74</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>US$ amounts<SUP>2</SUP></B></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="color: black">Average exchange rate (CAD$ per US$1.00)</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="color: black; font-weight: bold; text-align: right">1.35</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">1.27</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">Per unit amounts &ndash; US$/pound</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="color: black; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Adjusted cash cost of sales</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="color: black; font-weight: bold; text-align: right">2.06</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">1.73</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;Smelter processing charges</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">0.24</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">0.18</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">Total cash unit costs &ndash; US$/pound</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="color: black; font-weight: bold; text-align: right">2.30</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">1.91</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left; padding-bottom: 1pt">Cash margin for by-products</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">(0.47</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">(0.54</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">Net cash unit costs &ndash; US$/pound</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: right">1.83</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; color: black">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: right">1.37</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 8pt">Notes:</FONT></P>



<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Excludes
                                            Quebrada Blanca sales.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Average
                                            period exchange rates are used to convert to US$ per pound equivalent.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>


<!-- Field: Page; Sequence: 49; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2px solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 5%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->49<!-- Field: /Sequence --></TD><TD STYLE="width: 95%; text-align: right"><P STYLE="text-align: left; margin: 0; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 8pt"><I>Teck Resources Limited 2023 First Quarter News Release</I></FONT></P></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>Zinc Unit Cost Reconciliation (Mining Operations<SUP>1</SUP>)</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD>&nbsp;</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="color: white; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                                             <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="color: white">(CAD$ in millions, except where noted)</TD><TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; text-align: right">2023</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">2022</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 74%; color: black; font-weight: bold">Revenue as reported</TD><TD STYLE="width: 1%; color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; color: black; font-weight: bold; text-align: right">616</TD><TD STYLE="width: 1%; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 10%; color: black; text-align: right">920</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black">Less:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="color: black; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Trail Operations revenue as reported</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">(483</TD><TD STYLE="color: black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(584</TD><TD STYLE="color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Other revenue as reported</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">(2</TD><TD STYLE="color: black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(3</TD><TD STYLE="color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left; padding-bottom: 1pt">Add back: Intra-segment revenue as reported</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">133</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">191</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="color: black; font-weight: bold; text-align: right">264</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">524</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="color: black; text-align: left">By-product revenue (A)</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">2</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(10</TD><TD STYLE="color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left; padding-bottom: 1pt">Smelter processing charges (B)</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">55</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">54</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left; padding-bottom: 1pt">Adjusted revenue</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">321</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">568</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="color: black; font-weight: bold">Cost of sales as reported</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="color: black; font-weight: bold; text-align: right">488</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">673</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black">Less:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="color: black; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Trail Operations cost of sales as reported</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">(471</TD><TD STYLE="color: black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(570</TD><TD STYLE="color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Other cost of sales as reported</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">8</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(6</TD><TD STYLE="color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left; padding-bottom: 1pt">Add back: Intra-segment purchases as reported</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">133</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">191</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="color: black; font-weight: bold; text-align: right">158</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">288</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="color: black">Less:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">(21</TD><TD STYLE="color: black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(38</TD><TD STYLE="color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="color: black; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Royalty costs</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">(38</TD><TD STYLE="color: black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(137</TD><TD STYLE="color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;By-product cost of sales (C)</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left; padding-bottom: 1pt">Adjusted cash cost of sales (D)</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">99</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">113</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">Payable pounds sold (millions) (E)</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">166.0</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">271.9</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">Per unit amounts &ndash; CAD$/pound</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="color: black; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Adjusted cash cost of sales (D/E)</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="color: black; font-weight: bold; text-align: right">0.60</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">0.42</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;Smelter processing charges (B/E)</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">0.33</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">0.20</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">Total cash unit costs &ndash; CAD$/pound</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="color: black; font-weight: bold; text-align: right">0.93</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">0.62</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; padding-bottom: 1pt">Cash margin for by-products &ndash; ((A - C)/E)</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">0.01</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">(0.04</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; padding-bottom: 1pt">Net cash unit costs &ndash; CAD$/pound</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">0.94</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">0.58</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>US$ amounts</B><SUP>2</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="color: black">Average exchange rate (CAD$ per US$1.00)</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="color: black; font-weight: bold; text-align: right">1.35</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">1.27</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="color: black; text-align: left">Per unit amounts &ndash; US$/pound</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Adjusted cash cost of sales</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="color: black; font-weight: bold; text-align: right">0.44</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">0.33</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;Smelter processing charges</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">0.24</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">0.16</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Total cash unit costs &ndash; US$/pound</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="color: black; font-weight: bold; text-align: right">0.68</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">0.49</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left; padding-bottom: 1pt">Cash margin for by-products</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">0.01</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">(0.03</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left; padding-bottom: 1pt">Net cash unit costs &ndash; US$/pound</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: right">0.69</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: right">0.46</TD><TD STYLE="border-bottom: Black 3pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 8pt">Notes:</FONT></P>



<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Red
                                            Dog Mining Operations.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Average
                                            period exchange rates are used to convert to US$ per pound equivalent.</FONT></TD></TR></TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B></B></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 50; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2px solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 5%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->50<!-- Field: /Sequence --></TD><TD STYLE="width: 95%; text-align: right"><P STYLE="text-align: left; margin: 0; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 8pt"><I>Teck Resources Limited 2023 First Quarter News Release</I></FONT></P></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>Steelmaking Coal Unit Cost Reconciliation </B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD>&nbsp;</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="color: white; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                                             <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #000F7B">
    <TD STYLE="color: white">(CAD$ in millions, except where noted)</TD><TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; text-align: right">2023</TD><TD STYLE="color: white">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; text-align: right">2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 74%; color: black; font-weight: bold">Cost of sales as reported</TD><TD STYLE="width: 1%; color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; color: black; font-weight: bold; text-align: right">1,129</TD><TD STYLE="width: 1%; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 10%; color: black; text-align: right">986</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black">Less:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="color: black; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Transportation costs (A)</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">(312</TD><TD STYLE="color: black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(275</TD><TD STYLE="color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">(266</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">(252</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left; padding-bottom: 1pt">Adjusted site cash cost of sales (B)</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">551</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">459</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">Tonnes sold (millions) (C)</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">6.2</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">6.0</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Per unit amounts &ndash; CAD$/tonne</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="color: black; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Adjusted site cash cost of sales (B/C)</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="color: black; font-weight: bold; text-align: right">89</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">77</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;Transportation costs (A/C)</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">50</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">46</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; padding-bottom: 1pt">Unit costs &ndash; CAD$/tonne</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">139</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">123</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="font-weight: bold; text-indent: -1.35pt; padding-left: 1.35pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>US$
amounts</B><SUP>1</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black">Average exchange rate (CAD$ per US$1.00)</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="color: black; font-weight: bold; text-align: right">1.35</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">1.27</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Per unit amounts &ndash; US$/tonne</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Adjusted site cash cost of sales</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="color: black; font-weight: bold; text-align: right">66</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">61</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;Transportation costs</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: right">37</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">36</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">Unit costs &ndash; US$/tonne</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: right">103</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; color: black">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: right">97</TD><TD STYLE="border-bottom: Black 3pt solid; color: black; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-indent: -0.3in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 8pt">Note:</FONT></P>



<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Average
                                            period exchange rates are used to convert to US$/tonne equivalent.</FONT></TD></TR></TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>




<!-- Field: Page; Sequence: 51; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2px solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 5%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->51<!-- Field: /Sequence --></TD><TD STYLE="width: 95%; text-align: right"><P STYLE="text-align: left; margin: 0; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 8pt"><I>Teck Resources Limited 2023 First Quarter News Release</I></FONT></P></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B"><B></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>CAUTIONARY STATEMENT ON FORWARD-LOOKING STATEMENTS</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">This news release contains certain forward-looking information and forward-looking
statements as defined in applicable securities laws (collectively referred to as forward-looking statements). These statements relate
to future events or our future performance. All statements other than statements of historical fact are forward-looking statements. The
use of any of the words &ldquo;anticipate&rdquo;, &ldquo;plan&rdquo;, &ldquo;continue&rdquo;, &ldquo;estimate&rdquo;, &ldquo;expect&rdquo;,
&ldquo;may&rdquo;, &ldquo;will&rdquo;, &ldquo;project&rdquo;, &ldquo;predict&rdquo;, &ldquo;potential&rdquo;, &ldquo;should&rdquo;, &ldquo;believe&rdquo;
and similar expressions is intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties
and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements.
These statements speak only as of the date of this news release.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">These forward-looking statements include, but are not limited to, statements
concerning: our focus and strategy; anticipated global and regional supply, demand and market outlook for our commodities; the proposed
separation of our business into two independent, publicly-listed companies; terms and conditions of the Separation, including the expected
distribution of EVR shares and cash and the Transition Capital Structure to be retained by Teck; the timing for completion of the Separation;
the proposed transaction to eliminate the multiple voting rights attached to the Class A common shares; expectation that QB2 will be a
long-life, low-cost operation with major expansion potential; QB2 capital cost guidance and development capital spending in 2023; expectation
that cost pressures at QB2 can be mitigated, expectation that QB2 will reach ramp up to full production capacity by the end of 2023; timing
of progress and milestones at our QB2 project, including system completion and handover; our expectation that the Antamina MEIA will be
approved in the second half of 2023; execution of our copper growth strategy; expectations regarding our QBME project, including the impact
of the project and associated timing expectations for permitting and production; expectations regarding the NewRange joint venture, including
timing for completion of the NorthMet feasibility study; expectations regarding the San Nicol&aacute;s project, including timing for submission
of the environmental impact assessment and permit application and completion of the feasibility study; expectations regarding the Highland
Valley Copper 2040 project, including that it has the potential to extend operations to at least 2044 and timing for feasibility study
and environmental permitting; expectations regarding the Zafranal project, including expected receipt of the approval for the SEIA and
timing thereof and advancement of the feasibility study; expectations regarding the Galore Creek project, including advancement of the
prefeasibility study; expectations regarding the advancement of Schaft Creek and NuevaUni&oacute;n; expectations regarding improvements
in workforce attraction and retention and the impact thereof on our steelmaking coal business; expectations for stabilization and reduction
of the selenium trend in the Elk Valley; expectations for total water treatment capacity; projected spending, including capital and operating
costs, from 2023-2024 on water treatment, water management and incremental measures associated with the Direction; timing of advancement
and completion of the North Line Creek Phase 1, Fording River North 1 Phase 3 and Fording River North 2 Phase 1 SRFs; our expectation
that we will increase our water treatment capacity to 120 million litres per day by the end of 2026; expectations regarding finance expenses
for the second half of 2023; expectations regarding timing and amount of income tax payments; liquidity and availability of borrowings
under our credit facilities; our ability to obtain additional credit for posting security for reclamation at our sites; all guidance appearing
in this document including but not limited to the production, sales, cost, unit cost, capital expenditure, and other guidance under the
heading &ldquo;Guidance&rdquo; and discussed in the various business unit sections; our expectations regarding inflationary pressures
and increased key input costs, including profit based compensation and royalties; and expectations regarding the adoption of new accounting
standards and the impact of new accounting developments.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="margin: 0; font: 10pt Arial, Helvetica, Sans-Serif">These statements are based on a number of assumptions, including, but not
limited to, assumptions disclosed elsewhere in this document and assumptions regarding general business and economic conditions, interest
rates, commodity and power prices; acts of foreign or domestic governments and the outcome of legal proceedings; the supply and demand
for, deliveries of, and the level and volatility of prices of copper, zinc and steelmaking coal and our other metals and minerals, as
well as steel, crude oil, natural gas and other petroleum products; the timing of the receipt of permits and other regulatory and governmental
approvals for our development projects and other operations, including mine extensions; our ability to complete the Separation, including
obtaining receipt of required approvals from the court, shareholders and the Toronto Stock Exchange; our ability to obtain the required
approvals for the</P>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #000F7B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">proposed transaction to eliminate the multiple votes rights attached to
the Class A common shares; positive results from the studies on our expansion and development projects; our ability to secure adequate
transportation, including rail and port services, for our products; our costs of production and our production and productivity levels,
as well as those of our competitors; continuing availability of water and power resources for our operations; changes in credit market
conditions and conditions in financial markets generally; the availability of funding to refinance our borrowings as they become due or
to finance our development projects on reasonable terms; availability of letters of credit and other forms of financial assurance acceptable
to regulators for reclamation and other bonding requirements; our ability to procure equipment and operating supplies in sufficient quantities
and on a timely basis; the availability of qualified employees and contractors for our operations, including our new developments and
our ability to attract and retain skilled employees; the satisfactory negotiation of collective agreements with unionized employees; the
impact of changes in Canadian-U.S. dollar, Canadian dollar-Chilean Peso and other foreign exchange rates on our costs and results; engineering
and construction timetables and capital costs for our development and expansion projects; the benefits of technology for our operations
and development projects; closure costs; environmental compliance costs; market competition; the accuracy of our mineral reserve and resource
estimates (including with respect to size, grade and recoverability) and the geological, operational and price assumptions on which these
are based; tax benefits and tax rates; the outcome of our coal price and volume negotiations with customers; the outcome of our copper,
zinc and lead concentrate treatment and refining charge negotiations with customers; the resolution of environmental and other proceedings
or disputes; our ability to obtain, comply with and renew permits, licenses and leases in a timely manner; and our ongoing relations with
our employees and with our business and joint venture partners.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">In addition, assumptions regarding the Elk Valley Water Quality Plan include
assumptions that additional treatment will be effective at scale, and that the technology and facilities operate as expected, as well
as additional assumptions discussed under the heading &ldquo;<I>Elk Valley Water Management Update.</I>&rdquo; Assumptions regarding QB2
include current project assumptions and assumptions regarding the final feasibility study, estimates of future construction capital at
QB2 are based on a CLP/USD rate range of 800 &mdash; 850, as well as there being no further unexpected material and negative impact to
the various contractors, suppliers and subcontractors for the QB2 project that would impair their ability to provide goods and services
as anticipated during commissioning and ramp-up activities. Statements regarding the availability of our credit facilities are based on
assumptions that we will be able to satisfy the conditions for borrowing at the time of a borrowing request and that the facilities are
not otherwise terminated or accelerated due to an event of default. Assumptions regarding the costs and benefits of our projects include
assumptions that the relevant project is constructed, commissioned and operated in accordance with current expectations. Expectations
regarding our operations are based on numerous assumptions regarding the operations. Our Guidance tables include disclosure and footnotes
with further assumptions relating to our guidance, and assumptions for certain other forward-looking statements accompany those statements
within the document. Statements concerning future production costs or volumes are based on numerous assumptions 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, or adverse weather conditions, and that there are no material
unanticipated variations in the cost of energy or supplies. Statements regarding anticipated steelmaking coal sales volumes and average
steelmaking coal prices depend on timely arrival of vessels and performance of our steelmaking coal-loading facilities, as well as the
level of spot pricing sales. The foregoing list of assumptions is not exhaustive. Events or circumstances could cause actual results to
vary materially.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="margin: 0; font: 10pt Arial, Helvetica, Sans-Serif">Factors that may cause actual results to vary materially include, but are
not limited to, the possibility that the Separation and the transactions with NSC and POSCO will not be completed on the terms and conditions,
or on the timing, currently contemplated, and that the transactions may not be completed at all, due to a failure to obtain or satisfy,
in a timely manner or otherwise, required shareholder, regulatory and court approvals or other conditions of closing necessary to complete
the transactions or for other reasons; adverse reactions or changes in business relationships resulting from the announcement or completion
of the Separation; tax, legal and regulatory matters; credit, market, currency, operational, commodity, liquidity and funding changes
or risks generally and relating specifically to the Separation, including changes in economic conditions, interest rates or tax rates
and other risks inherent to our business; business disruption prior to or following the Separation; changes to our business and/or factors
beyond Teck&rsquo;s</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">control that could have a material adverse effect on Teck or the ability
or desire to consummate the Separation and transactions with NSC and POSCO; the possibility that the proposed transaction to eliminate
the multiple voting rights attached to the Class A common shares may not be completed on the terms and conditions, or on the timing, currently
contemplated, or at all, including due to the failure to obtain or satisfy, in a timely manner or otherwise, required shareholder and
other approvals and other conditions of closing necessary; changes in commodity and power prices; changes in market demand for our products;
changes in interest and currency exchange rates; acts of governments and the outcome of legal proceedings; inaccurate geological and metallurgical
assumptions (including with respect to the size, grade and recoverability of mineral reserves and resources); operational difficulties
(including failure of plant, equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability
of labour, materials and equipment, government action or delays in the receipt of government approvals, changes in royalty or tax rates,
industrial disturbances or other job action, adverse weather conditions and unanticipated events related to health, safety and environmental
matters); union labour disputes; impact of COVID-19 and related mitigation protocols; political risk; social unrest; failure of customers
or counterparties (including logistics suppliers) to perform their contractual obligations; changes in our credit ratings; unanticipated
increases in costs to construct our development projects; difficulty in obtaining permits; inability to address concerns regarding permits
or environmental impact assessments; and changes or further deterioration in general economic conditions. The amount and timing of capital
expenditures is depending upon, among other matters, being able to secure permits, equipment, supplies, materials and labour on a timely
basis and at expected costs. Certain operations and projects are not controlled by us; schedules and costs may be adjusted by our partners,
and timing of spending and operation of the operation or project is not in our control. Certain of our other operations and projects are
operated through joint arrangements where we may not have control over all decisions, which may cause outcomes to differ from current
expectations. Current and new technologies relating to our Elk Valley water treatment efforts may not perform as anticipated, and ongoing
monitoring may reveal unexpected environmental conditions requiring additional remedial measures. QB2 costs, commissioning and commercial
production is dependent on, among other matters, our continued ability to advance commissioning and ramp-up as currently anticipated and
successfully manage through the impacts of COVID-19, including but not limited to absenteeism and lowered productivity. QB2 costs may
also be affected by claims and other proceedings that might be brought against us relating to costs and impacts of the COVID-19 pandemic.
Production at our Red Dog Operations may also be impacted by water levels at site. Sales to China may be impacted by general and specific
port restrictions, Chinese regulation and policies, and normal production and operating risks. The forward-looking statements in this
news release and actual results will also be impacted by the continuing effects of COVID-19 and related matters, particularly if there
is a further resurgence of the virus.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">We assume no obligation to update forward-looking statements except as required
under securities laws. Further information concerning risks, assumptions and uncertainties associated with these forward-looking statements
and our business can be found in our Annual Information Form for the year ended December 31, 2022, filed under our profile on SEDAR (www.sedar.com)
and on EDGAR (www.sec.gov) under cover of Form 40-F, as well as subsequent filings that can also be found under our profile.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Scientific and technical information in this quarterly report regarding
our coal properties, which for this purpose does not include the discussion under &ldquo;<I>Elk Valley Water Management Update</I>&rdquo;
was reviewed, approved and verified by Jo-Anna Singleton, P.Geo. and Cameron Feltin, P.Eng., each an employee of Teck Coal Limited and
a Qualified Person as defined under National Instrument 43-101. Scientific and technical information in this quarterly report regarding
our other properties was reviewed, approved and verified by Rodrigo Alves Marinho, P.Geo., an employee of Teck and a Qualified Person
as defined under National Instrument 43-101.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>WEBCAST</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Teck will host an Investor Conference Call to discuss its Q1/2023 financial
results at 11:00 AM Eastern time, 8:00 AM Pacific time, on <B>April&nbsp;26, 2023</B>. A live audio webcast of the conference call, together
with supporting presentation slides, will be available at our website at <FONT STYLE="color: blue">www.teck.com</FONT>. The webcast will
be archived at <FONT STYLE="color: blue">www.teck.com</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>Condensed Interim Consolidated Financial Statements</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>For the Three Months Ended March 31,
    2023</B></P>
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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">Consolidated Statements of Income</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">(Unaudited)</P>
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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
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                                               <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid">(CAD$ in millions, except for share data)</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid; background-color: #F2F2F2">2023</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right; border-bottom: Black 1pt solid">2022</TD></TR>
  <TR>
    <TD STYLE="width: 74%; font-weight: bold; text-align: left">Revenue (Note 5)</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left; background-color: #F2F2F2">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right; background-color: #F2F2F2">3,785</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">4,616</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">Cost of sales</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">(2,119</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(2,138</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left">Gross profit</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">1,666</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,478</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left">Other operating income (expenses)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;General and administration</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">(67</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(49</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR>
    <TD STYLE="padding-left: 6pt">&nbsp;&nbsp;&nbsp;Exploration</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">(13</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(17</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Research and innovation</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">(38</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(39</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Other operating income (expense) (Note 6)</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">307</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">117</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left">Profit from operations</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">1,855</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,490</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left">Finance income</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">31</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left">Finance expense (Note 7)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">(61</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(45</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left">Non-operating income (expense) (Note 8)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">27</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(81</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Share of profit of associates and joint ventures</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">4</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left">Profit from continuing operations before taxes</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">1,856</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,368</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Provision for income taxes</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">(655</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(862</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left">Profit from continuing operations for the period</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">1,201</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,506</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Profit (loss) from discontinued operations (Note 3)</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">(26</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">52</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Profit for the period</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">1,175</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,558</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left">Profit from continuing operations attributable to:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Shareholders of the company</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">$</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">1,166</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,519</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1pt solid; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Non-controlling interests</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">35</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(13</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Profit from continuing operations for the period</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">1,201</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,506</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left">Profit attributable to:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Shareholders of the company</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">$</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">1,140</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,571</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1pt solid; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Non-controlling interests</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">35</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(13</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Profit for the period</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">1,175</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,558</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left">Earnings per share from continuing operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-left: 6pt">&nbsp;&nbsp;&nbsp;Basic</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">$</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">2.27</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.84</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-left: 6pt">&nbsp;&nbsp;&nbsp;Diluted</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">$</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">2.23</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.78</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left">Earnings (loss) per share from discontinued operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Basic and diluted</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">$</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">(0.05</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.09</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold">Earnings per share</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-left: 6pt">&nbsp;&nbsp;&nbsp;Basic</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">$</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">2.22</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.93</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-left: 6pt">&nbsp;&nbsp;&nbsp;Diluted</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">$</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">2.18</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.87</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold">Weighted average shares outstanding (millions)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">514.1</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">535.8</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold">Weighted average diluted shares outstanding (millions)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">522.3</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">546.9</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold">Shares outstanding at end of period (millions)</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">514.7</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">539.6</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD></TR>
  </TABLE>


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<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Teck Resources Limited</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">Consolidated Statements of Comprehensive Income</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">(Unaudited)</P>
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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD>&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid">(CAD$ in millions)</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right; border-bottom: Black 1pt solid; background-color: #F2F2F2">2023</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; border-bottom: Black 1pt solid">2022</TD></TR>
  <TR>
    <TD STYLE="width: 74%; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left">Profit for the period</TD><TD STYLE="width: 1%; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left; background-color: #F2F2F2">$</TD><TD STYLE="width: 10%; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right; background-color: #F2F2F2">1,175</TD><TD STYLE="width: 1%; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="width: 1%; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font-family: Arial, Helvetica, Sans-Serif; text-align: left; background-color: white">$</TD><TD STYLE="width: 10%; font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: white">1,558</TD><TD STYLE="width: 1%; font-family: Arial, Helvetica, Sans-Serif; text-align: left; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD><TD STYLE="text-align: right; background-color: white">&nbsp;</TD><TD STYLE="text-align: left; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD><TD STYLE="text-align: right; background-color: white">&nbsp;</TD><TD STYLE="text-align: left; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left">Other comprehensive loss for the period</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD><TD STYLE="text-align: right; background-color: white">&nbsp;</TD><TD STYLE="text-align: left; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left; padding-left: 0.25in">Items that may be reclassified to profit</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD><TD STYLE="text-align: right; background-color: white">&nbsp;</TD><TD STYLE="text-align: left; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left; padding-left: 0.5in">Currency translation differences (net of taxes of $nil and $(3))</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right; background-color: #F2F2F2">(10</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left; background-color: white">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: white">(147</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left; background-color: white">)</TD></TR>
  <TR>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid; text-indent: -13.5pt; padding-left: 49.5pt">Changes in fair value of debt securities (net of taxes of $nil and $nil)</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right; background-color: #F2F2F2">1</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left; background-color: white">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: white">(3</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left; background-color: white">)</TD></TR>
  <TR>
    <TD>&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right; background-color: #F2F2F2">(9</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left; background-color: white">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: white">(150</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left; background-color: white">)</TD></TR>
  <TR>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left; padding-left: 0.25in">Items that will not be reclassified to profit</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD><TD STYLE="text-align: right; background-color: white">&nbsp;</TD><TD STYLE="text-align: left; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left; padding-left: 0.5in">Change in fair value of marketable equity securities (net of taxes of $nil and $(11))</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right; background-color: #F2F2F2">&ndash;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left; background-color: white">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: white">73</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid; padding-left: 0.5in">Remeasurements of retirement benefit plans (net of taxes of $(5) and $14)</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right; background-color: #F2F2F2">5</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left; background-color: white">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: white">(54</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left; background-color: white">)</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right; background-color: #F2F2F2">5</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left; background-color: white">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: white">19</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Total other comprehensive loss for the period</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right; background-color: #F2F2F2">(4</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left; background-color: white">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: white">(131</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left; background-color: white">)</TD></TR>
  <TR>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Total comprehensive income for the period</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left; background-color: #F2F2F2">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right; background-color: #F2F2F2">1,171</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left; background-color: white">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: white">1,427</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD><TD STYLE="text-align: right; background-color: white">&nbsp;</TD><TD STYLE="text-align: left; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left">Total comprehensive income attributable to:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD><TD STYLE="text-align: right; background-color: white">&nbsp;</TD><TD STYLE="text-align: left; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left; padding-left: 0.25in; background-color: white">Shareholders of the company</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left; background-color: #F2F2F2">$</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right; background-color: #F2F2F2">1,137</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left; background-color: white">$</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: white">1,452</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid; padding-left: 0.25in; background-color: white">Non-controlling interests</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right; background-color: #F2F2F2">34</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left; background-color: white">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: white">(25</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left; background-color: white">)</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left; background-color: #F2F2F2">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right; background-color: #F2F2F2">1,171</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left; background-color: white">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: white">1,427</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD><TD STYLE="text-align: right; background-color: white">&nbsp;</TD><TD STYLE="text-align: left; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left">Total comprehensive income attributable to shareholders of the company from:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD><TD STYLE="text-align: right; background-color: white">&nbsp;</TD><TD STYLE="text-align: left; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left; padding-left: 0.25in; background-color: white">Continuing operations</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left; background-color: #F2F2F2">$</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right; background-color: #F2F2F2">1,163</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left; background-color: white">$</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: white">1,400</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid; padding-left: 0.25in; background-color: white">Discontinued operations</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right; background-color: #F2F2F2">(26</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left; background-color: white">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: white">52</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left; background-color: #F2F2F2">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right; background-color: #F2F2F2">1,137</TD><TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left; background-color: white">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: white">1,452</TD><TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left; background-color: white">&nbsp;</TD></TR>
  </TABLE>


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<!-- Field: Page; Sequence: 57; Value: 2 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Teck Resources Limited</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">Consolidated Statements of Cash Flows</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">(Unaudited)</P>
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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="7" STYLE="text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                               <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid">(CAD$ in millions)</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid; background-color: #F2F2F2">2023</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right; border-bottom: Black 1pt solid">2022</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left">Operating activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="width: 74%; text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Profit from continuing operations for the period</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left; background-color: #F2F2F2">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right; background-color: #F2F2F2">1,201</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">1,506</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Depreciation and amortization</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">423</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">415</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Provision for income taxes</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">655</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">862</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Gain on sale or contribution of assets</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">(266</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Net finance expense</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">30</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">43</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Income taxes paid</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">(254</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(144</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR>
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Remeasurement of decommissioning and restoration provisions for closed operations</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">11</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(83</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 14.15pt">QB2 variable consideration to IMSA and ENAMI</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">2</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">99</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-left: 6pt">&nbsp;&nbsp;&nbsp;Other</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">(56</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">112</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Net change in non-cash working capital items</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">(654</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(516</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Net cash provided by continuing operating activities</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">1,092</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,293</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Net cash provided by discontinued operating activities</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">30</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">1,092</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,323</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left">Investing activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Expenditures on property, plant and equipment</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">(1,271</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD><TD STYLE="text-align: right; background-color: white">(836</TD><TD STYLE="text-align: left; background-color: white">)</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Capitalized production stripping costs</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">(310</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD><TD STYLE="text-align: right; background-color: white">(233</TD><TD STYLE="text-align: left; background-color: white">)</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Expenditures on investments and other assets</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">(44</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD><TD STYLE="text-align: right; background-color: white">(39</TD><TD STYLE="text-align: left; background-color: white">)</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Proceeds from sale of Fort Hills</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">1,014</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Proceeds from investments and assets</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">53</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">9</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Net cash used in continuing investing activities</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">(558</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,099</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Net cash used in discontinued investing activities</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">(14</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(31</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD></TR>
  <TR>
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">(572</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD><TD STYLE="text-align: right; background-color: white">(1,130</TD><TD STYLE="text-align: left; background-color: white">)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left">Financing activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Proceeds from debt</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">57</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">370</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Redemption, purchase or repayment of debt</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">(177</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(236</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Repayment of lease liabilities</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">(36</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(32</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;QB2 advances from SMM/SC</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">308</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">121</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Interest and finance charges paid</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">(95</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(106</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Issuance of Class B subordinate voting shares</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">19</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">169</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Purchase and cancellation of Class B subordinate voting shares</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">&ndash;</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(90</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Dividends paid</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">(321</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(337</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Contributions from non-controlling interests</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">104</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">41</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Distributions to non-controlling interests</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">(12</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(18</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Other liabilities</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">(8</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Net cash used in continuing financing activities</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">(161</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(115</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Net cash used in discontinued financing activities</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">(3</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(7</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">(164</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(122</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left">Increase in cash and cash equivalents</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">356</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,071</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left">Change in cash classified as held for sale</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">29</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left">Effect of exchange rate changes on cash and cash equivalents</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">(3</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(33</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Cash and cash equivalents at beginning of period</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">1,883</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,427</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">Cash and cash equivalents at end of period</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">2,265</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">2,465</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 58; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2px solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 5%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->58<!-- Field: /Sequence --></TD><TD STYLE="width: 95%; text-align: right"><P STYLE="text-align: left; margin: 0; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 8pt"><I>Teck Resources Limited 2023 First Quarter News Release</I></FONT></P></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Teck Resources Limited</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">Consolidated Balance Sheets</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">(Unaudited)</P>
<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 100%"><DIV STYLE="border-top: Black 1pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid">(CAD$ in millions)</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">March 31,<BR> 2023</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right; border-bottom: Black 1pt solid">December 31, 2022</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold">ASSETS</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left">Current assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="width: 74%; text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Cash and cash equivalents</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left; background-color: #F2F2F2">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right; background-color: #F2F2F2">2,265</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">1,883</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Current income taxes receivable</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">92</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">92</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Trade and settlement receivables</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">1,709</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,527</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-left: 6pt">&nbsp;&nbsp;&nbsp;Inventories</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">2,779</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,685</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Prepaids and other current assets</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">512</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">540</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Assets held for sale</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,566</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-left: 0.25in">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">7,357</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,293</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left">Non-current assets held for sale (Note 3(b)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">176</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">173</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left">Financial and other assets</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">1,635</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,466</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left">Investment in joint venture</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">1,144</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,139</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left">Property, plant and equipment</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">42,254</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">40,095</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left">Deferred income tax assets</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">75</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">75</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">Goodwill</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">1,117</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,118</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 0.25in">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">53,758</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">52,359</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left">LIABILITIES AND EQUITY</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left">Current liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Trade accounts payable and other liabilities</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">$</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">4,438</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4,367</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Current portion of debt (Note 9)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">493</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">616</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Current portion of lease liabilities</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">128</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">132</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Current income taxes payable</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">698</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">104</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Liabilities associated with assets held for sale</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">645</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-left: 0.25in">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">5,757</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,864</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left">Debt (Note 9)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">6,542</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,551</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left">Lease liabilities</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">443</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">439</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left">QB2 advances from SMM/SC</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">2,586</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,279</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left">Deferred income tax liabilities</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">6,593</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,778</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left">Retirement benefit liabilities</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">439</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">420</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Provisions and other liabilities</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">3,918</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,517</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-left: 0.25in">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">26,278</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,848</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold">Equity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Attributable to shareholders of the company</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">26,316</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,473</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-left: 6pt">&nbsp;&nbsp;&nbsp;Attributable to non-controlling interests</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">1,164</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,038</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 0.25in">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">27,480</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">26,511</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 3pt solid; padding-left: 0.25in">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">53,758</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">52,359</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD></TR>
  </TABLE>


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<!-- Field: Page; Sequence: 59; Value: 2 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Teck Resources Limited</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">Consolidated Statements of Changes in Equity</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">(Unaudited)</P>
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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="7" STYLE="text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                               <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid">(CAD$ in millions)</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid; background-color: #F2F2F2">2023</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right; border-bottom: Black 1pt solid">2022</TD></TR>
  <TR>
    <TD STYLE="width: 74%; font-weight: bold; text-align: left">Class A common shares</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left; background-color: #F2F2F2">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right; background-color: #F2F2F2">6</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">6</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left">Class B subordinate voting shares</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>Beginning of period</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">6,133</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,201</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;&nbsp;&nbsp;Share repurchases</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">&ndash;</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(22</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;&nbsp;&nbsp;Issued on exercise of options</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">25</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">221</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>End of period</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">6,158</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,400</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left">Retained earnings</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>Beginning of period</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">18,065</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16,343</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;Profit for the period attributable to shareholders of the company</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">1,140</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,571</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;Dividends paid</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">(321</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(337</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR>
    <TD>&nbsp;&nbsp;&nbsp;Share repurchases</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">&ndash;</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(68</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;&nbsp;&nbsp;Remeasurements of retirement benefit plans</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">5</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(54</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD></TR>
  <TR>
    <TD>End of period</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">18,889</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,455</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left">Contributed surplus</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>Beginning of period</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">207</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">253</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;Share option compensation expense (Note 10(a))</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">8</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;&nbsp;&nbsp;Transfer to Class B subordinate voting shares on exercise of options</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">(6</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(52</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD></TR>
  <TR>
    <TD>End of period</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">209</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">207</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-indent: -6pt; margin: 3.75pt 0pt 0pt 6pt"><B>Accumulated other comprehensive
income attributable to shareholders of the company</B></P></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>Beginning of period</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">1,062</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">202</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;Other comprehensive loss</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">(3</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(119</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;&nbsp;&nbsp;Less remeasurements of retirement benefit plans recorded in retained earnings</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">(5</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">54</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>End of period</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">1,054</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">137</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-align: left">Non-controlling interests</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>Beginning of period</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">1,038</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">768</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;Profit (loss) for the period attributable to non-controlling interests</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">35</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(13</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR>
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;Other comprehensive loss attributable to non-controlling interests</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">(1</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(12</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR>
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;Contributions from non-controlling interests</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">104</TD><TD STYLE="font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">41</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;&nbsp;&nbsp;Distributions to non-controlling interests</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">(12</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(18</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid">End of period</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">1,164</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">766</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">Total equity</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">27,480</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left; background-color: #F2F2F2">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">24,971</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Teck Resources Limited</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">Notes to Condensed Interim Consolidated Financial Statements</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">(Unaudited)</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.4in; text-align: left"><B>1.</B></TD><TD STYLE="width: 0.1in"></TD><TD STYLE="text-align: justify"><B>BASIS OF PREPARATION</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">We prepare our annual consolidated financial statements in accordance with
International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB). These condensed interim
consolidated financial statements have been prepared in accordance with IAS 34, <I>Interim Financial Reporting</I> (IAS 34).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">These condensed interim consolidated financial statements should be read
in conjunction with our most recent annual financial statements. These condensed interim consolidated financial statements follow the
same accounting policies and methods of application as our most recent annual financial statements except for certain pronouncements disclosed
in Note 2. On April&nbsp;25, 2023, the Audit Committee of the Board of Directors authorized these financial statements for issuance.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.4in; text-align: left"><B>2.</B></TD><TD STYLE="width: 0.1in"></TD><TD STYLE="text-align: justify"><B>IFRS PRONOUNCEMENTS</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and
IFRS 16 &ndash; Interest Rate Benchmark Reform &ndash; Phase 2</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">In August 2020, the IASB issued amendments to IFRS 9, <I>Financial Instruments</I>
(IFRS 9), IAS 39, <I>Financial Instruments: Recognition and Measurement</I> (IAS 39), IFRS 7, <I>Financial Instruments: Disclosures</I>
(IFRS 7), IFRS 4, <I>Insurance Contracts</I> (IFRS 4) and IFRS 16, <I>Leases</I> (IFRS 16) as a result of Phase 2 of the IASB&rsquo;s
Interest Rate Benchmark Reform project. The amendments address issues arising in connection with reform of benchmark interest rates, including
the replacement of one benchmark rate with an alternative one. The amendments were effective January 1, 2021.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Term Secured Overnight Financing Rate (Term SOFR) was formally recommended
by the Alternative Reference Rates Committee (a committee convened by the U.S. Federal Reserve Board) as the recommended fallback for
USD London Interbank Offered Rate (LIBOR) based loans. Term SOFR is expected to be largely equivalent on an economic basis to LIBOR, allowing
for use of the practical expedient under IFRS 9. Our QB2 project financing facility, Compa&ntilde;&iacute;a Minera Antamina S.A. (Antamina)
loan agreement and QB2 advances from Sumitomo Metal Mining Co., Ltd. and Sumitomo Corporation (together referred to as SMM/SC) are our
most significant financial instruments that are exposed to LIBOR.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">During the year ended December&nbsp;31, 2022, we transitioned our sustainability-linked
revolving credit facility to Term SOFR. This did not affect our financial statements as this credit facility remains undrawn. As at March
31, 2023, we have not yet transitioned the remaining financial instruments that use the LIBOR settings that are currently scheduled to
cease publication after June 30, 2023. We continue to work with our lenders on the replacement of the affected rates for our other significant
financial instruments, which is not expected to result in a significant change to our financial statements, our interest rate risk management
strategy or our interest rate risk.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 0; text-align: justify"><B>Amendments to IAS 1 &ndash; Presentation
of Financial Statements</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">In October 2022, the IASB issued amendments to IAS 1, <I>Presentation of
Financial Statements </I>titled <I>Non-current liabilities with covenants. </I>These amendments sought to improve the information that
an entity provides when its right to defer settlement of a liability is subject to compliance with covenants within 12 months after the
reporting period. These amendments to IAS 1 override but incorporate the previous amendments, <I>Classification of liabilities as current
or non-current,</I> issued in January 2020, which clarified that liabilities are classified as either current or non-current depending
on the rights that exist at the end of the reporting period. Liabilities should be classified as non-current if a company has a substantive
right to defer settlement for at least 12 months at the end of the reporting period. The amendments are effective January 1, 2024, with
early adoption permitted. Retrospective application is required on adoption. We do not expect these amendments to have a material effect
on our financial statements.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Teck Resources Limited</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">Notes to Condensed Interim Consolidated Financial Statements</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">(Unaudited)</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.4in; text-align: left"><B>2.</B></TD><TD STYLE="width: 0.1in"></TD><TD STYLE="text-align: justify"><B>IFRS PRONOUNCEMENTS, </B>continued</TD>
</TR></TABLE>



<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 27pt; text-indent: -27pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 27pt; text-indent: -27pt"><B>Amendment to IAS 1 and IFRS Practice Statement
2 &ndash; Disclosure of Accounting Policies</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">In February 2021, the IASB issued amendments to IAS 1, <I>Presentation of
Financial Statements</I> and the IFRS Practice Statement 2 <I>Making Materiality Judgements</I> to provide guidance on the application
of materiality judgments to accounting policy disclosures. The amendments to IAS 1 replace the requirement to disclose &lsquo;significant&rsquo;
accounting policies with a requirement to disclose &lsquo;material&rsquo; accounting policies. Guidance and illustrative examples are
added in the Practice Statement to assist in the application of materiality concept when making judgments about accounting policy disclosures.
The amendments are effective for annual periods beginning on or after January 1, 2023, with early adoption permitted. Prospective application
is required on adoption. We do not expect these amendments to have a material effect on our annual financial statements.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.4in; text-align: left"><B>3.</B></TD><TD STYLE="width: 0.1in"></TD><TD STYLE="text-align: justify"><B>ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 27pt; text-indent: -27pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">a)</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Fort Hills sale transaction</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="background-color: white">On February 2, 2023, we completed
the sale of our 21.3% interest in Fort Hills and associated downstream assets to Suncor Energy Inc. (Suncor). Total Energies E&amp;P Canada
Ltd (TEPCA) exercised its right of first refusal to purchase its proportionate share of our Fort Hills interest. </FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="background-color: white">We have accounted for this transaction
by recognizing:</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">aggregate cash proceeds of approximately $1&nbsp;billion from Suncor and TEPCA;
and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">a financial liability estimated at $269 million on closing. The current portion
of $26 million was recorded as part of trade accounts payable and other liabilities. The non-current portion of $243 million was recorded
as part of provisions and other liabilities. This financial liability is related to the remaining term of a downstream pipeline take or
pay toll commitment. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">We recognized a post-tax loss of approximately $8 million, which is presented
in loss from discontinued operations upon closing of this transaction.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">i)</TD><TD>Results of discontinued operations of the Fort Hills disposal group</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 27pt; text-indent: -27pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="7" STYLE="text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                               <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid">(CAD$ in millions)</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2023</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right; border-bottom: Black 1pt solid">2022</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="width: 74%; font-weight: bold">Revenue</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">143</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">416</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">Cost of sales</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(161</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(326</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="font-weight: bold; text-align: left">Gross profit (loss)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(18</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">90</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">Other operating expense</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="font-weight: bold; text-align: left">Profit (loss) from discontinued operations</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(18</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">89</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left">Net finance expense</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(2</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(6</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">Non-operating expense</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Profit (loss) from discontinued operations before taxes</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(20</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">82</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">Recovery of (provision for) income taxes</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(30</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Profit (loss) from discontinued operations after taxes</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(18</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">52</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">Post-tax loss on sale</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(8</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">Profit (loss) from discontinued operations</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">(26</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">)</TD><TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">52</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Teck Resources Limited</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">Notes to Condensed Interim Consolidated Financial Statements</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">(Unaudited)</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.4in; text-align: left"><B>3.</B></TD><TD STYLE="width: 0.1in"></TD><TD STYLE="text-align: justify"><B>ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS</B>, continued</TD>
</TR></TABLE>



<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">b)</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">San Nicol&aacute;s arrangement</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">On September 16, 2022, we announced an agreement with Agnico Eagle Mines
Limited to form a 50:50 joint arrangement to advance the San Nicol&aacute;s copper-zinc development project located in Zacatecas, Mexico.
We reclassified property, plant and equipment and other assets of $176 million related to San Nicol&aacute;s to non-current assets held
for sale. We assessed the fair value of the San Nicol&aacute;s assets and determined that the fair value exceeded the carrying value of
the assets and accordingly, no impairment was recorded. Subsequent to the quarter, the transaction closed on April 6, 2023.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.4in; text-align: left"><B>4.</B></TD><TD STYLE="width: 0.1in"></TD><TD STYLE="text-align: justify"><B>TRANSACTIONS</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left">a)</TD><TD STYLE="text-align: justify">Elk Valley Resources</TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">On February 18, 2023, Teck&rsquo;s Board of Directors approved, subject
to court and shareholder approvals, the reorganization of Teck&rsquo;s business (the Separation) to separate Teck into two independent,
publicly-listed companies: Teck Metals Corp. and Elk Valley Resources Ltd. (EVR). The Separation is structured as a spin-off of Teck&rsquo;s
steelmaking coal business by way of a distribution of EVR common shares to Teck shareholders. In consideration for the transfer of the
specified assets and liabilities of the steelmaking coal business to EVR, EVR will issue preferred shares and grant a royalty (collectively,
the &ldquo;Transition Capital Structure&rdquo;), as well as issue EVR common shares. Teck Metals will hold 87.5% of the Transition Capital
Structure and will distribute all of the EVR common shares held by Teck to its shareholders. Teck has also reached agreements with Nippon
Steel Corporation (NSC) and POSCO to exchange their non-controlling interests in the Elkview operations, and specifically with POSCO to
exchange their direct interest in the Greenhills operations, for EVR&rsquo;s common shares and a percentage of the Transition Capital
Structure. In addition, under the terms of the agreement and through a series of steps, Teck will receive approximately $1.0 billion from
NSC, in order for NSC to increase its interest in the Transition Capital Structure. Completion of the transaction is subject to court
and shareholder approvals and the outcome of the approvals remain uncertain. If the applicable court and shareholder approvals are received,
completion of the transaction could occur in the second quarter of 2023.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left">b)</TD><TD STYLE="text-align: justify">Sunset of Dual Class Share Structure</TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="background-color: white">On February 18, 2023, Teck&rsquo;s
Board of Directors approved, subject to court, shareholder and other approvals, a proposed six-year sunset for the multiple voting rights
attached to the Class A common shares of Teck (the Dual Class Amendment). On the effective date of the Dual Class Amendment, each Teck
Class A common share will be acquired by Teck in exchange for (i) one new Class A common share and (ii) 0.67 of a Class B subordinate
voting share. The terms of the new Class A common shares will be identical to the current terms of Class A common shares, except that
the new Class A common shares will automatically convert into Class B subordinate voting shares, which will then be renamed common shares,
on the sixth anniversary of the effective date of the Dual Class Amendment on a one-for-one basis, and for no additional consideration
or premium. In addition to court and Teck shareholder approvals, the Dual Class Amendment is subject to customary conditions, including
approval of the Toronto Stock Exchange.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Teck Resources Limited</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">Notes to Condensed Interim Consolidated Financial Statements</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">(Unaudited)</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.4in; text-align: left"><B>4.</B></TD><TD STYLE="width: 0.1in"></TD><TD STYLE="text-align: justify"><B>TRANSACTIONS, </B>continued</TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left">c)</TD><TD STYLE="text-align: justify">Quintette sale transaction</TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 27pt; text-indent: -27pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">On February 16, 2023, we closed the transaction with Conuma Resources Limited
(Conuma) to sell all the assets and liabilities of the Quintette steelmaking coal mine in northeastern British Columbia. In exchange for
the sale of the Quintette steelmaking coal mine, Conuma has agreed to pay in cash $120 million of staged payments over 36 months and an
ongoing 25% net profits interest royalty, first payable after Conuma recovers its initial construction investments in Quintette.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">We accounted for this transaction by recognizing:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">cash of $30 million related to a non-refundable deposit and cash received
upon closing;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">a financial receivable of $69 million recorded as part of financial and other
assets, which reflects the fair value of the staged payments; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">a mineral interest royalty in the amount of $200 million recorded as part
of property, plant and equipment, which reflects the fair value of the royalty interest on closing of the transaction. The key facts and
circumstances that resulted in concluding the royalty should be accounted for as a mineral interest were the alignment of cash flow risks
and returns with the existing mine plan and that payments will only occur during the life of the mine.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">We recognized a pre-tax gain of approximately $75 million ($50 million post-tax)
in other operating income (expense) upon closing of this transaction (Note 6).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left">d)</TD><TD STYLE="text-align: justify">Mesaba arrangement</TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 27pt; text-indent: -27pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">On February 15, 2023, we closed the transaction with PolyMet Mining Corp.
(PolyMet) forming a 50:50 joint arrangement to advance PolyMet's NorthMet Project and Teck's Mesaba mineral deposit. The joint arrangement
is held and operated through a new entity named NewRange Copper Nickel LLC (NewRange).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">We concluded that NewRange is a joint operation where we share joint control
with PolyMet due to the key facts that Teck and PolyMet are obligated for their share of the outputs of the arrangement and that Teck
and PolyMet are required to fund their respective share of cash flows to the arrangement. We account for our interest in the joint operation
by recording our share of the respective assets, liabilities, revenue and expenses and cash flows.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">This was a non-cash transaction. We have measured the fair value of the
assets and liabilities contributed by Polymet through reference to market share price data, adjusted for transaction specific factors,
which is classified as a Level 3 measurement within the fair value measurement hierarchy (Note 14).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">We recognized a pre-tax gain of approximately $191 million ($142 million
post-tax) in other operating income (expense) upon closing of this transaction (Note 6).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Teck Resources Limited</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">Notes to Condensed Interim Consolidated Financial Statements</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">(Unaudited)</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.4in; text-align: left"><B>5.</B></TD><TD STYLE="width: 0.1in"></TD><TD STYLE="text-align: justify"><B>REVENUE</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The following table shows our revenue disaggregated by major product type
and by business unit. Our business units are reported based on the primary products that they produce and are consistent with our reportable
segments (Note 11) that have revenue from contracts with customers. A business unit can have revenue from more than one commodity as it
can include an operation that produces more than one product. Intra-segment revenue is accounted for at current market prices as if sales
were made to arm&rsquo;s-length parties and are eliminated on consolidation. Revenue related to Fort Hills is disclosed as part of Note
3, Assets Held for Sale and Discontinued Operations.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid">(CAD$ in millions)</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Three months ended March 31, 2023</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right; border-bottom: Black 1pt solid">Copper</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right; border-bottom: Black 1pt solid">Zinc</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right; border-bottom: Black 1pt solid">Steelmaking <BR>Coal</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right; border-bottom: Black 1pt solid">Total</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="width: 48%">Copper</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">659</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">659</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD>Zinc</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">61</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">551</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">612</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">Steelmaking coal</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">2,406</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">2,406</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD>Silver</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">8</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">71</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">79</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD>Lead</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">1</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">45</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">46</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD>Other</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">34</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">82</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">116</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid">Intra-segment</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(133</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(133</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">)</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">763</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">616</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">2,406</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">3,785</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid">(CAD$ in millions)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="text-align: center; border-bottom: Black 1pt solid">Three months ended March 31, 2022</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right; border-bottom: Black 1pt solid">Copper</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right; border-bottom: Black 1pt solid">Zinc</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right; border-bottom: Black 1pt solid">Steelmaking <BR>Coal</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right; border-bottom: Black 1pt solid">Total</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="width: 48%">Copper</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">811</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">&ndash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">&ndash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">811</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD>Zinc</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">88</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">857</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">945</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">Steelmaking coal</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,766</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,766</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD>Silver</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">101</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">113</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD>Lead</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">57</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">58</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD>Other</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">96</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">114</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid">Intra-segment</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(191</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(191</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">930</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">920</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">2,766</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">4,616</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 65; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2px solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 5%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->65<!-- Field: /Sequence --></TD><TD STYLE="width: 95%; text-align: right"><P STYLE="text-align: left; margin: 0; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 8pt"><I>Teck Resources Limited 2023 First Quarter News Release</I></FONT></P></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Teck Resources Limited</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">Notes to Condensed Interim Consolidated Financial Statements</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">(Unaudited)</P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.4in; text-align: left"><B>6.</B></TD><TD STYLE="width: 0.1in"></TD><TD STYLE="text-align: justify"><B>OTHER OPERATING INCOME (EXPENSE)</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="7" STYLE="text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                               <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid">(CAD$ in millions)</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2023</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right; border-bottom: Black 1pt solid">2022</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="width: 74%; text-align: left">Settlement pricing adjustments</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">87</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">181</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left">Share-based compensation (Note 10(a))</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(22</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(110</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 6pt; text-align: left; text-indent: -6pt">Environmental costs and remeasurement of decommissioning and restoration <BR>provisions for closed operations</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(17</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">82</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left">Care and maintenance costs</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(15</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(13</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">Social responsibility and donations</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(12</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(13</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left">Gain (loss) on sale or contribution of assets</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">258</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">Commodity derivatives</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">6</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">49</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left">Take or pay contract costs</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(25</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(28</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">Elkview business interruption claim</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">102</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid">Other</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(55</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(29</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">307</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">117</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.4in; text-align: left"><B>7.</B></TD><TD STYLE="width: 0.1in"></TD><TD STYLE="text-align: justify"><B>FINANCE EXPENSE</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="7" STYLE="text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                               <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid">(CAD$ in millions)</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2023</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right; border-bottom: Black 1pt solid">2022</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="width: 74%; text-align: left">Debt interest</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">119</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">78</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left">Interest on advances from SMM/SC</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">52</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">Interest on lease liabilities</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">5</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left">Letters of credit and standby fees</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">10</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">Accretion on decommissioning and restoration provisions</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">43</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">37</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid">Other</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">8</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">237</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">143</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">Less capitalized borrowing costs</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(176</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(98</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">61</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">45</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<!-- Field: Page; Sequence: 66; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2px solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 5%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->66<!-- Field: /Sequence --></TD><TD STYLE="width: 95%; text-align: right"><P STYLE="text-align: left; margin: 0; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 8pt"><I>Teck Resources Limited 2023 First Quarter News Release</I></FONT></P></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Teck Resources Limited</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">Notes to Condensed Interim Consolidated Financial Statements</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">(Unaudited)</P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 100%"><DIV STYLE="border-top: Black 1pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.4in; text-align: left"><B>8.</B></TD><TD STYLE="width: 0.1in"></TD><TD STYLE="text-align: justify"><B>NON-OPERATING INCOME (EXPENSE)</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="7" STYLE="text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Three months ended</P>
                                               <P STYLE="margin-top: 0; margin-bottom: 0">March 31,</P></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid">(CAD$ in millions)</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2023</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right; border-bottom: Black 1pt solid">2022</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="width: 74%; text-align: left">QB2 variable consideration to IMSA and ENAMI</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">(2</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(99</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left">Foreign exchange gains</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">40</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid">Other</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(11</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">5</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">27</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(81</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.4in; text-align: left"><B>9.</B></TD><TD STYLE="width: 0.1in"></TD><TD STYLE="text-align: justify"><B>DEBT</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid">($ in millions)</TD><TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2023</TD><TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">December 31, 2022</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; text-align: right"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 3.25pt 0 0; text-align: right"><B>Face</B></P> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>Value</B></P> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 1.5pt; text-align: right"><B>(US$)</B></P></TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; text-align: right"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 3.25pt 0 0; text-align: right"><B>Fair</B></P> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>Value</B></P> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 1.5pt; text-align: right"><B>(CAD$)</B></P></TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; text-align: right"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 3.25pt 0 0; text-align: right"><B>Carrying</B></P> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>Value</B></P> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 1.5pt; text-align: right"><B>(CAD$)</B></P></TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; text-align: right">Face <BR>Value <BR>(US$)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; text-align: right">Fair <BR>Value <BR>(CAD$)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; text-align: right">Carrying <BR>Value <BR>(CAD$)</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="width: 45%; text-align: left">3.75% notes due February 2023 (a)</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 6%; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 6%; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 6%; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">108</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">147</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">147</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD>3.9% notes due July 2030</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">503</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">626</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">673</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">503</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">614</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">673</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD>6.125% notes due October 2035</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">336</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">474</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">449</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">336</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">452</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">449</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD>6.0% notes due August 2040</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">473</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">648</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">638</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">480</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">631</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">648</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD>6.25% notes due July 2041</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">396</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">562</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">531</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">396</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">531</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">531</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD>5.2% notes due March 2042</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">395</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">492</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">529</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">395</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">471</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">529</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid">5.4% notes due February 2043</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">367</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">465</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">492</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">367</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">448</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">492</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">2,470</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">3,267</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">3,312</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,585</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,294</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,469</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left">QB2 project financing facility (b)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">2,500</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">3,386</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">3,324</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,419</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,322</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-left: 6pt; text-align: left; text-indent: -6pt">Carmen de Andacollo short-term <BR>loans (c)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">70</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">95</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">95</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">52</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">71</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">71</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">Antamina loan agreement (d)</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">225</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">304</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">304</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">225</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">305</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">305</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">5,265</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">7,052</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">7,035</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">5,362</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">7,089</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">7,167</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">Less current portion of debt</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(364</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(493</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(493</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(454</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(616</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(616</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">4,901</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">6,559</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">6,542</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">4,908</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">6,473</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">6,551</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The fair values of debt are determined using market values, if available,
and discounted cash flows based on our cost of borrowing where market values are not available. The latter are considered Level 2 fair
value measurements with significant other observable inputs on the fair value hierarchy (Note 14).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 67; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2px solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 5%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->67<!-- Field: /Sequence --></TD><TD STYLE="width: 95%; text-align: right"><P STYLE="text-align: left; margin: 0; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 8pt"><I>Teck Resources Limited 2023 First Quarter News Release</I></FONT></P></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Teck Resources Limited</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">Notes to Condensed Interim Consolidated Financial Statements</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">(Unaudited)</P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.4in; text-align: left"><B>9.</B></TD><TD STYLE="width: 0.1in"></TD><TD STYLE="text-align: justify"><B>DEBT</B>, continued</TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">a)</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Note Redeemed</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">In the first quarter of 2023, we redeemed the 3.75%
notes at maturity for $144 million (US$108 million) plus accrued interest.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">b)</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">QB2 Project Financing Facility</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: -3.25pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">As at March 31, 2023, the US$2.5 billion limited recourse QB2 project financing
facility was fully drawn. Amounts drawn under the facility bear interest at LIBOR plus applicable margins that vary over time and will
be repaid in 17 semi-annual instalments starting the earlier of six months after project completion or June 2023. The facility is guaranteed
pre-completion on several basis by Teck and SMM/SC <I>pro rata</I> to the respective equity interests in the Series A shares of QBSA.
The facility is secured by pledges of Teck&rsquo;s and SMM/SC&rsquo;s interests in QBSA and by security over QBSA&rsquo;s assets, which
consist primarily of QB2 project assets.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">c)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Carmen de Andacollo Short-Term Loans</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">As at March 31, 2023, we had $95 million (US$70 million) of debt outstanding
in the form of fixed rate short-term bank loans with maturity of less than one year. The purpose of the loans is to fund short-term working
capital requirements at Carmen de Andacollo.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">d)</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Antamina Loan Agreement</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">During 2021, Antamina entered into a US$1.0 billion loan agreement which
is fully drawn as at March&nbsp;31, 2023. Our 22.5% share of the principal value of the loan is US$225 million. Amounts outstanding under
this facility bear interest at LIBOR plus an applicable margin. The loan is non-recourse to us and the other Antamina owners and matures
in 2026.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">e)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Revolving Credit Facility</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">We maintain a US$4.0 billion sustainability-linked revolving credit facility
maturing October 2026. The facility has pricing adjustments where the cost will increase, decrease, or remain unchanged based on our sustainability
performance. Our sustainability performance over the term of the facility is measured by non-financial variables that are specific to
our greenhouse gas emissions intensity, the percentage of women in our workforce and our high-potential safety incidents.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">As at March 31, 2023, the facility was undrawn. Any amounts drawn under
this facility can be repaid at any time and are due in full at maturity. Amounts outstanding under the facility bear interest at Term
SOFR plus an applicable margin based on credit ratings and our sustainability performance, as described above. This facility requires
our total net debt-to-capitalization ratio, which was 0.16 to 1.0 at March&nbsp;31, 2023, to not exceed 0.60 to 1.0. This facility does
not have an earnings or cash flow-based financial covenant, a credit rating trigger or a general material adverse effect borrowing condition.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">We maintain uncommitted bilateral credit facilities primarily for the issuance
of letters of credit to support our future reclamation obligations. As at March 31, 2023, we had $2.7 billion of letters of credit outstanding.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">We also had $849 million in surety bonds outstanding at March&nbsp;31,
2023, to support current and future reclamation obligations.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Teck Resources Limited</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">Notes to Condensed Interim Consolidated Financial Statements</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">(Unaudited)</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.4in; text-align: left"><B>10.</B></TD><TD STYLE="width: 0.1in"></TD><TD STYLE="text-align: justify"><B>EQUITY</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">a)</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Share-Based Compensation</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">During the three months ended March&nbsp;31, 2023, we granted 1,325,200
Class B subordinate voting share options to employees. These options have a weighted average exercise price of $54.47, a term of 10 years
and vest in equal amounts over three years.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The weighted average fair value of the options issued was estimated at $22.69
per share option at the grant date using the Black-Scholes option-pricing model. The option valuations were based on the following assumptions
at the grant date:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 86%; border-top: black 1pt solid; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Average expected option life</FONT></TD>
    <TD STYLE="width: 14%; border-top: black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>5.9 years</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Risk-free interest rate</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>3.52%</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Dividend yield</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>0.92%</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 3pt solid; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Expected volatility</FONT></TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>42%</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Share-based compensation expense related to stock options of $8 million
(2022 &ndash; $6 million) was recorded for the three months ended March&nbsp;31, 2023.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">We have issued and outstanding deferred share units (DSUs), restricted share
units (RSUs), performance share units (PSUs) and performance deferred share units (PDSUs) (collectively, Units).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">During the three months ended March&nbsp;31, 2023, we issued 739,620 Units.
The total number of Units outstanding at March&nbsp;31, 2023 was 6,327,538. Share-based compensation expense related to Units of $14 million
(2022 &ndash; $104 million) was recorded for the three months ended March&nbsp;31, 2023.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Total share-based compensation expense was $22 million (2022 &ndash; $110
million) (Note 6) for the three months ended March&nbsp;31, 2023.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">b)</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Accumulated Other Comprehensive Income</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid">(CAD$ in millions)</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">March 31, 2023</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right; border-bottom: Black 1pt solid">March 31, 2022</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="width: 74%; text-align: left; padding-left: 6pt">Currency translation differences</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">960</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">68</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left; padding-left: 6pt">Gain on marketable equity and debt securities (net of tax of $(12) and $(9)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">94</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">70</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid; padding-left: 6pt">Share of other comprehensive loss of associates and joint ventures</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">1,054</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">137</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">c)</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Dividends</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Dividends of $0.625 per share, totalling $321 million, were paid on our
Class A common and Class B subordinate voting shares in the first quarter of 2023.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Teck Resources Limited</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">Notes to Condensed Interim Consolidated Financial Statements</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">(Unaudited)</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.4in; text-align: left"><B>10.</B></TD><TD STYLE="width: 0.1in"></TD><TD STYLE="text-align: justify"><B>EQUITY</B>,
                                            continued</TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">d)</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Normal Course Issuer Bids</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">On occasion, we purchase and cancel Class B subordinate voting shares pursuant
to normal course issuer bids that allow us to purchase up to a specified maximum number of shares over a one-year period.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">In October 2022, we renewed our regulatory approval to conduct a normal
course issuer bid, under which we may purchase up to 40 million Class B subordinate voting shares during the period from November 2, 2022
to November 1, 2023. All purchased shares will be cancelled.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">In the first quarter of 2023, there were no purchases and no cancellations
of Class B subordinate voting shares.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">In the first quarter of 2022, we purchased 1,813,900 Class B subordinate
voting shares for $90 million, of which 1,613,900 were cancelled. Subsequent to March 31, 2022, the remaining 200,000 Class B subordinate
voting shares purchased in March 2022 were cancelled and we purchased and cancelled an additional 200,000 shares for $10 million. In total,
2,013,900 Class B subordinate voting shares were purchased and cancelled for $100 million.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.4in; text-align: left"><B>11.</B></TD><TD STYLE="width: 0.1in"></TD><TD STYLE="text-align: justify"><B>SEGMENTED INFORMATION</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Based on the primary products we produce and our development projects, we
have four reportable segments that we report to our Chief Executive Officer &mdash; copper, zinc, steelmaking coal and corporate. The
corporate segment includes all of our initiatives in other commodities, our corporate growth activities and groups that provide administrative,
technical, financial and other support to all of our business units. Other operating income (expenses) include general and administration,
exploration, research and innovation and other operating income (expense). Sales between segments are carried out on terms that arm&rsquo;s-length
parties would use. Total assets do not include intra-group receivables between segments. Deferred tax assets have been allocated among
segments.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">As a result of the sale of our 21.3% interest in Fort Hills and associated
downstream assets, we have changed the composition of our reportable segments. Accordingly, the energy segment is no longer presented
below, with information disclosed in Note 3, Assets Held for Sale and Discontinued Operations. We have also re-presented the previously
reported segment information for the three months ended March 31, 2022.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Teck Resources Limited</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">Notes to Condensed Interim Consolidated Financial Statements</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">(Unaudited)</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.4in; text-align: left"><B>11.</B></TD><TD STYLE="width: 0.1in"></TD><TD STYLE="text-align: justify"><B>SEGMENTED INFORMATION</B>, continued</TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD STYLE="padding-left: 6pt; text-indent: -6pt">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="19" STYLE="font-weight: bold; text-align: center">Three months ended March 31, 2023</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 6pt; border-bottom: Black 1pt solid; text-indent: -6pt; vertical-align: bottom">(CAD$ in millions)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: right; border-bottom: Black 1pt solid">Copper</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: right; border-bottom: Black 1pt solid">Zinc</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: right; border-bottom: Black 1pt solid">Steelmaking Coal</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: right; border-bottom: Black 1pt solid">Corporate</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: right; border-bottom: Black 1pt solid">Total</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: -6pt; width: 35%; text-align: left; padding-left: 6pt">Segment revenue</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">763</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">749</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">2,406</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">3,918</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-indent: -6pt; text-align: left; border-bottom: Black 1pt solid; padding-left: 6pt">Less: Intra-segment revenue</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(133</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(133</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">)</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: -6pt; text-align: left; padding-left: 6pt">Revenue (Note 5)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">763</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">616</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">2,406</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">3,785</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-indent: -6pt; border-bottom: Black 1pt solid; padding-left: 6pt">Cost of sales</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(502</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(488</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(1,129</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(2,119</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">)</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: -6pt; text-align: left; padding-left: 6pt">Gross profit</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">261</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">128</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">1,277</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">1,666</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-indent: -6pt; text-align: left; border-bottom: Black 1pt solid; padding-left: 6pt">Other operating income (expense)</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">244</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(13</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">243</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(285</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">189</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: -6pt; text-align: left; padding-left: 6pt">Profit (loss) from operations</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">505</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">115</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">1,520</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(285</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">1,855</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-indent: -6pt; text-align: left; padding-left: 6pt">Net finance income (expense)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(120</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(11</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(25</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">126</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(30</TD><TD STYLE="font-weight: bold; text-align: left">)</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: -6pt; text-align: left; padding-left: 6pt">Non-operating income (expense)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">34</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">1</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(3</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(5</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">27</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-left: 6pt; text-align: left; border-bottom: Black 1pt solid; text-indent: -6pt">Share of profit of associates and joint <BR>ventures</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">4</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">4</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: -6pt; text-align: left; border-bottom: Black 1pt solid; padding-left: 6pt">Profit (loss) before taxes from continuing operations</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">423</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">105</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,492</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(164</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,856</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-indent: -6pt; text-align: left; border-bottom: Black 1pt solid; padding-left: 6pt">Capital expenditures from continuing operations</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,198</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">49</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">328</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">6</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,581</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: -6pt; border-bottom: Black 1pt solid; padding-left: 6pt">Goodwill</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">415</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">702</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,117</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-indent: -6pt; text-align: left; padding-left: 6pt">Total assets from continuing operations</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">26,163</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">4,495</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">18,593</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">4,507</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">53,758</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 6pt; text-align: left; border-bottom: Black 1pt solid; text-indent: -6pt">Total assets from discontinued operations - <BR>unallocated</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 3pt solid; text-indent: -6pt; text-align: left; padding-left: 6pt">Total assets</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">26,163</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">4,495</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">18,593</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">4,507</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: right">53,758</TD><TD STYLE="border-bottom: Black 3pt solid; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD STYLE="padding-left: 6pt; text-indent: -6pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="19" STYLE="text-align: center">Three months ended March 31, 2022</TD></TR>
  <TR>
    <TD STYLE="text-align: left; padding-left: 6pt; border-bottom: Black 1pt solid; text-indent: -6pt; vertical-align: bottom">(CAD$ in millions)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: right; border-bottom: Black 1pt solid">Copper</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: right; border-bottom: Black 1pt solid">Zinc</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: right; border-bottom: Black 1pt solid">Steelmaking Coal</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: right; border-bottom: Black 1pt solid">Corporate</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: right; border-bottom: Black 1pt solid">Total</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: -6pt; width: 35%; text-align: left; padding-left: 6pt">Segment revenue</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">930</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">1,111</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">2,766</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">&ndash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">4,807</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-indent: -6pt; text-align: left; border-bottom: Black 1pt solid; padding-left: 6pt">Less: Intra-segment revenue</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(191</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(191</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: -6pt; text-align: left; padding-left: 6pt">Revenue (Note 5)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">930</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">920</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,766</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,616</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-indent: -6pt; border-bottom: Black 1pt solid; padding-left: 6pt">Cost of sales</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(479</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(673</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(986</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(2,138</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: -6pt; text-align: left; padding-left: 6pt">Gross profit</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">451</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">247</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,780</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,478</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; text-indent: -6pt; padding-left: 6pt">Other operating income (expense)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">57</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(6</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">72</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(111</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">12</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: -6pt; text-align: left; padding-left: 6pt">Profit (loss) from operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">508</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">241</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,852</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(111</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,490</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-indent: -6pt; text-align: left; padding-left: 6pt">Net finance income (expense)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(35</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(12</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(22</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">26</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(43</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: -6pt; text-align: left; padding-left: 6pt">Non-operating income (expense)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(92</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(9</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(81</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-left: 6pt; text-align: left; border-bottom: Black 1pt solid; text-indent: -6pt">Share of profit of associates and joint <BR>ventures</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: -6pt; text-align: left; border-bottom: Black 1pt solid; padding-left: 6pt">Profit (loss) before taxes from continuing operations</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">383</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">228</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,821</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(64</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,368</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-indent: -6pt; text-align: left; border-bottom: Black 1pt solid; padding-left: 6pt">Capital expenditures from continuing operations</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">783</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">43</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">240</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,069</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: -6pt; border-bottom: Black 1pt solid; padding-left: 6pt">Goodwill</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">384</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">702</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,086</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-indent: -6pt; text-align: left; padding-left: 6pt">Total assets from continuing operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18,788</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,116</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18,356</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,177</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">46,437</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="padding-left: 6pt; text-align: left; border-bottom: Black 1pt solid; text-indent: -6pt">Total assets from discontinued operations - <BR>unallocated</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,387</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 3pt solid; text-indent: -6pt; text-align: left; padding-left: 6pt">Total assets</TD><TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">18,788</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">4,116</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">18,356</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">5,177</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: right">48,824</TD><TD STYLE="border-bottom: Black 3pt solid; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Teck Resources Limited</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">Notes to Condensed Interim Consolidated Financial Statements</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">(Unaudited)</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.4in; text-align: left"><B>12.</B></TD><TD STYLE="width: 0.1in"></TD><TD STYLE="text-align: justify"><B>CONTINGENCIES</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: teal"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">We consider provisions for all of our outstanding and pending legal claims
to be adequate. The final outcome with respect to actions outstanding or pending as at March&nbsp;31, 2023, or with respect to future
claims, cannot be predicted with certainty. Significant contingencies not disclosed elsewhere in the notes to our financial statements
are as follows:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Upper Columbia River Basin</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Teck American Inc. (TAI) continues studies under the 2006 settlement agreement
with the U.S. Environmental Protection Agency (EPA) to conduct a remedial investigation on the Upper Columbia River in Washington State.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Lake Roosevelt litigation involving Teck Metals Limited (TML) in the
Federal District Court for the Eastern District of Washington continues. The case relates to historic discharges of slag and effluent
from TML&rsquo;s Trail metallurgical facility to the Upper Columbia River. TML prevailed against the plaintiffs&rsquo; on citizen suit
claims, seeking injunctive relief, statutory penalties and attorney&rsquo;s fees. In December 2012 on the basis of stipulated facts agreed
between TML and the plaintiffs, the Court found in favour of the plaintiffs in phase one of the case, issuing a declaratory judgment that
TML is liable under the <I>Comprehensive Environmental Response, Compensation, and Liability Act</I> (CERCLA) for the plaintiffs' response
costs, the amounts of which were determined in the second phase of the case. Additional response costs not yet claimed may be recoverable.
TML has largely exhausted its appeal rights in respect of that decision. As a consequence of a ruling of the Ninth Circuit Court of Appeals,
also in the second phase, liability associated with air emissions from the Trail facility is no longer part of the case under CERCLA.
Plaintiffs exhausted their appeal rights in respect of that decision. The third and final phase of the case pertains to the plaintiffs&rsquo;
claims for natural resource damages. In March 2022, the State of Washington was granted leave to amend its complaint to seek alleged damages
under the <I>Model Toxics Control Act </I>(MTCA), the state law equivalent of CERCLA, premised on both air emissions and discharges to
the river. In April 2022, TML filed a motion to dismiss the MTCA claims. The Trial Court initially denied TML's motion to dismiss those
claims, but in the first quarter of 2023, following a TML motion for reconsideration, the Trial Court reversed itself and dismissed the
State&rsquo;s MTCA claims. The State of Washington has filed a further motion challenging parts of this decision and seeking clarification
of other parts.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">In the second quarter of 2022, TML filed two early motions for summary judgment
in respect of the CERCLA natural resource damages claims, which were denied in the third quarter of 2022. Based on one of those rulings,
in the first quarter of 2023, TML subsequently filed a motion seeking a ruling that the CERCLA claims are not fully developed and they
should therefore be dismissed. The motion was denied but not decided on the merits, and TML has sought reconsideration.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">A hearing with respect to natural resource damages and assessment costs
is scheduled for 2024.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Until the studies contemplated by the EPA settlement agreement and additional
damage assessments are completed, it is not possible to estimate the extent and cost, if any, of any additional remediation or restoration
that may be required or to assess the extent of our potential liability for damages. The studies may conclude, on the basis of risk, cost,
technical feasibility or other grounds, that no remediation other than some residential soil removal should be undertaken. If other remediation
is required and damage to resources found, the cost of that remediation may be material.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Elk Valley Water Quality</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">On March 10, 2023, Environment and Climate Change Canada (ECCC) notified
Teck Coal Limited (TCL) that it had commenced an investigation for alleged violations under s.36(3) of the Fisheries Act as a result of
alleged mine-impacted discharges into Dry Creek and the upper Fording River from the Line Creek Operations. TCL is cooperating with ECCC
in its investigation. We are not currently able to determine the outcome of the investigation, which could lead to charges, fines and
administrative penalties which could be material.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Elkview Business Interruption Claim</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">In the fourth quarter of 2022, we submitted a business interruption insurance
claim related to the structural failure of the Elkview plant feed conveyor belt. No amount was recognized in the consolidated financial
statements for the insurance claim as of December 31, 2022 as the claims process was in progress. We received an advance payment of insurance
proceeds of approximately $102&nbsp;million in the first quarter of 2023 and we are in the process of collecting the balance of the claim.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Teck Resources Limited</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">Notes to Condensed Interim Consolidated Financial Statements</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">(Unaudited)</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.4in; text-align: left"><B>13.</B></TD><TD STYLE="width: 0.1in"></TD><TD STYLE="text-align: justify"><B>SEASONALITY OF SALES</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Due to ice conditions, the port serving our Red Dog mine is normally only
able to ship concentrates from July to October each year. As a result, zinc and lead concentrate sales volumes are generally higher in
the third and fourth quarter of each year than in the first and second quarter. Depending on commodity prices, this could result in Red
Dog&rsquo;s profits and cash flows being higher in the last two quarters of the year as finished inventories are sold.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.4in; text-align: left"><B>14.</B></TD><TD STYLE="width: 0.1in"></TD><TD STYLE="text-align: justify"><B>FAIR VALUE MEASUREMENTS</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Certain of our financial assets and liabilities are measured at fair value
on a recurring basis and classified in their entirety based on the lowest level of input that is significant to the fair value measurement.
Certain non-financial assets and liabilities may also be measured at fair value on a non-recurring basis. There are three levels of the
fair value hierarchy that prioritize the inputs to valuation techniques used to measure fair value, with Level 1 inputs having the highest
priority. The levels and the valuation techniques used to value our financial assets and liabilities are described below:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Level 1 &ndash; Quoted Prices in Active Markets for Identical Assets</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Level 1 inputs are unadjusted quoted prices in active markets that are accessible
at the measurement date for identical, unrestricted assets or liabilities.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Certain cash equivalents, certain marketable equity securities and certain
debt securities are valued using quoted market prices in active markets. Accordingly, these items are included in Level 1 of the fair
value hierarchy.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Level 2 &ndash; Significant Observable Inputs Other than Quoted Prices</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Level 2 inputs are quoted prices in markets that are not active, quoted
prices for similar assets or liabilities in active markets, or inputs that are observable, either directly or indirectly, for substantially
the full term of the asset or liability.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Derivative instruments and embedded derivatives are included in Level 2
of the fair value hierarchy, as they are valued using pricing models or discounted cash flow models. These models require a variety of
inputs, including, but not limited to, market prices, forward price curves, yield curves and credit spreads. These inputs are obtained
from or corroborated with the market. Also included in Level 2 are settlement receivables and settlement payables from provisional pricing
on concentrate sales and purchases, certain refined metal sales and steelmaking coal sales because they are valued using quoted market
prices derived based on forward curves for the respective commodities and published price assessments for steelmaking coal sales.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Level 3 &ndash; Significant Unobservable Inputs</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Level 3 inputs are unobservable (supported by little or no market activity).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">We include investments in certain debt securities and certain equity securities
in non-public companies in Level 3 of the fair value hierarchy because they trade infrequently and have little price transparency.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Teck Resources Limited</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">Notes to Condensed Interim Consolidated Financial Statements</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">(Unaudited)</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.4in; text-align: left"><B>14.</B></TD><TD STYLE="width: 0.1in"></TD><TD STYLE="text-align: justify"><B>FAIR VALUE MEASUREMENTS, </B>continued</TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The fair values of our financial assets and liabilities measured at fair
value on a recurring basis at March&nbsp;31, 2023 and December&nbsp;31, 2022, are summarized in the following table:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif">(CAD$ in millions)</TD><TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: center">March 31, 2023</TD><TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: center">December 31, 2022</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right">Level&nbsp;1</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right">Level&nbsp;2</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right">Level&nbsp;3</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right">Total</TD><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right">Level&nbsp;1</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right">Level&nbsp;2</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right">Level&nbsp;3</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right">Total</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">Financial assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: -10pt; font-family: Arial, Helvetica, Sans-Serif; text-align: left; padding-left: 20pt; width: 28%">Cash equivalents</TD><TD STYLE="width: 1%; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font-family: Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="width: 6%; font-family: Arial, Helvetica, Sans-Serif; text-align: right">2,069</TD><TD STYLE="width: 1%; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font-family: Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="width: 6%; font-family: Arial, Helvetica, Sans-Serif; text-align: right">&ndash;</TD><TD STYLE="width: 1%; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font-family: Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="width: 6%; font-family: Arial, Helvetica, Sans-Serif; text-align: right">&ndash;</TD><TD STYLE="width: 1%; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 6%; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right">2,069</TD><TD STYLE="width: 1%; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-right: Black 1pt solid; width: 1%; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="width: 1%; font-family: Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="width: 6%; font-family: Arial, Helvetica, Sans-Serif; text-align: right">1,624</TD><TD STYLE="width: 1%; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font-family: Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="width: 6%; font-family: Arial, Helvetica, Sans-Serif; text-align: right">&ndash;</TD><TD STYLE="width: 1%; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font-family: Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="width: 6%; font-family: Arial, Helvetica, Sans-Serif; text-align: right">&ndash;</TD><TD STYLE="width: 1%; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font-family: Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="width: 6%; font-family: Arial, Helvetica, Sans-Serif; text-align: right">1,624</TD><TD STYLE="width: 1%; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-indent: -10pt; font-family: Arial, Helvetica, Sans-Serif; text-align: left; padding-left: 20pt">Marketable and other equity <BR>securities</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right">74</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right">&ndash;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right">153</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right">227</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-right: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right">69</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right">&ndash;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right">150</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right">219</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: -10pt; font-family: Arial, Helvetica, Sans-Serif; text-align: left; padding-left: 20pt">Debt securities</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right">163</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right">&ndash;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right">&ndash;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right">163</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-right: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right">159</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right">&ndash;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right">&ndash;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right">159</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-indent: -10pt; font-family: Arial, Helvetica, Sans-Serif; text-align: left; padding-left: 20pt">Settlement receivables</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right">&ndash;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right">997</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right">&ndash;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right">997</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-right: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right">&ndash;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right">1,118</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right">&ndash;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right">1,118</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: -10pt; font-family: Arial, Helvetica, Sans-Serif; text-align: left; padding-left: 20pt">Derivative instruments and <BR>embedded derivatives</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right">77</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right">77</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right">74</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right">74</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD>&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right">2,306</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right">1,074</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right">153</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left">$</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right">3,533</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-right: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right">1,852</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right">1,192</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right">150</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right">3,194</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">Financial liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="text-indent: -10pt; font-family: Arial, Helvetica, Sans-Serif; text-align: left; padding-left: 20pt">Derivative instruments and <BR>embedded derivatives</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right">&ndash;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right">149</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right">&ndash;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left">$</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right">149</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-right: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right">&ndash;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right">149</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right">&ndash;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right">149</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: -10pt; font-family: Arial, Helvetica, Sans-Serif; text-align: left; padding-left: 20pt">Settlement payables</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right">54</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right">54</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right">45</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right">45</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(198,244,249)">
    <TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right">203</TD><TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right">203</TD><TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right">194</TD><TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right">&ndash;</TD><TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: right">194</TD><TD STYLE="border-bottom: Black 3pt solid; font-family: Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Unless disclosed elsewhere in our financial statements (Note 9), the fair
value of the remaining financial assets and financial liabilities approximate their carrying value.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.4in; text-align: left"><B>15.</B></TD><TD STYLE="width: 0.1in"></TD><TD STYLE="text-align: justify"><B>FINANCIAL RISK MANAGEMENT</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Concentration of Credit Risk</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Cash and cash equivalents are held with high quality financial institutions.
Substantially all of our cash and cash equivalents held with financial institutions exceeds government-insured limits. We have established
credit policies that seek to minimize our credit risk by entering into transactions with investment grade credit worthy and reputable
financial institutions and by monitoring the credit standing of the financial institutions with whom we transact. We seek to limit the
amount of exposure with any one counterparty</P>



<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: left"></P>



<P STYLE="margin: 0">&nbsp;</P>

<!-- Field: Page; Sequence: 74; Options: Last -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2px solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 5%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->74<!-- Field: /Sequence --></TD><TD STYLE="width: 95%; text-align: right"><P STYLE="text-align: left; margin: 0; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 8pt"><I>Teck Resources Limited 2023 First Quarter News Release</I></FONT></P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0"></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
