Investor & Analyst Day 2015

1. Overview & Strategy
March 31, 2015
Don Lindsay, President & Chief Executive Officer

2. Overview & Strategy
Forward Looking Information
Both these slides and the accompanying oral presentation contain certain forward-looking statements within the meaning of the United States Private Securities
Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) and comparable legislation in other provinces.
Forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”,
“estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variation of such words and phrases or state that certain actions, events
or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results, performance or achievements of Teck to be materially different from any future results,
performance or achievements expressed or implied by the forward-looking statements. These forward-looking statements include statements relating to
management’s expectations with respect to our diversification and the benefits of diversification, our production and cost guidance, 2015 estimated profit and
EBITDA, expectations with respect to free cash flow, mine lives and resource lives for our various commodities, timing of production at our Fort Hills project,
anticipated economic benefits and contributions of Fort Hills project, including, but not limited to, yield and free cash flow and demand and market outlook for
commodities.
These forward-looking statements involve numerous assumptions, risks and uncertainties and actual results may vary materially. These statements are based on
a number of assumptions, including, but not limited to, assumptions noted in the various slides and oral presentation, assumptions regarding general business
and economic conditions, interest rates, the supply and demand for, inventories of, and the level and volatility of prices of coal, zinc, copper and gold and other
primary metals and minerals produced by Teck as well as steel, oil, natural gas and petroleum, the outcome of engineering studies currently underway in
connection with Teck’s development projects, the timing of receipt of regulatory and governmental approvals for Teck’s development projects and other
operations, receipt of permits to mine, costs of production at our operations and production and productivity levels, as well as those of Teck’s competitors, power
prices, market competition, the accuracy of Teck’s reserve and resource estimates (including with respect to size, grade and recoverability) and the geological,
operational and price assumptions on which these are based, the resolution of environmental and other proceedings, our ongoing relations with our employees
and partners and joint venturers, the availability of financing for development projects and the future operational and financial performance of the company
generally. The foregoing list of assumptions is not exhaustive.
Events or circumstances could cause actual results to differ materially. Factors that may cause actual results to vary include, but are not limited to: unanticipated
developments in business and economic conditions in the principal markets for Teck’s products or in the supply, demand, and prices for metals and other
commodities to be produced, changes in power prices, changes in interest or currency exchange rates, inaccurate geological or metallurgical assumptions
(including with respect to the size, grade and recoverability of mineral or oil and gas reserves and resources), changes in taxation laws or tax authority assessing
practices, legal disputes or unanticipated outcomes of legal proceedings, unanticipated operational difficulties (including failure of plant, equipment or processes
to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the
receipt of permits or government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental
matters), assumptions used to generate our economic analysis, decisions made by our partners or co-venturers, political events, social unrest, lack of available
financing for Teck or its partners or co-venturers, and changes in general economic conditions or conditions in the financial markets. Our Fort Hills project is not
controlled by us and construction and production schedules may be adjusted by our partners.
Certain of these risks are described in more detail in Teck’s annual information form available at www.sedar.com and in public filings with the SEC at
www.sec.gov. Teck does not assume the obligation to revise or update these forward-looking statements after the date of this document or to revise them to
reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.
2

3. Overview & Strategy
Protecting & Building Shareholder Value
3
Executing our long-term strategy
Well-positioned for improving commodity markets
Benefiting from low oil prices & weak Canadian dollar
Controlling the controllable
Building an energy business with robust economics
Retaining a strong financial position & investment grade credit rating

4. Overview & Strategy
Management Changes & Updates
Larry Davey
Vice President, Development, Coal
Shehzad Bharmal
Vice President, Strategy & Development, Copper
4

5. Overview & Strategy
Management Changes & Updates
Chris Dechert
Vice President, Copper Operations, Chile
Andrew Stonkus
Senior Vice President, Marketing & Sales
5

6. Top ten copper
miner in the
Americas
#3 zinc miner in the
world
Building an
energy business
# 1 Producer of steelmaking
coal in North America
# 2 Seaborne exporter of
steelmaking coal globally
Safety a our core
value
Implementing a
comprehensive
sustainability strategy
Overview & Strategy
Canada’s Largest Diversified Resources Company
6

7. Producing through multiple price
cycles after capital is recovered,
enhancing returns
Focused on the Americas
& Low Risk, Stable Jurisdictions
Strong Reserve & Resource Position1
With Sustainable Long-Life Assets
Coal Resources >100 years
Copper Resources >30 years
Zinc Resources >20 years
Energy Resources >50 years
Overview & Strategy
Attractive Portfolio Of Long-Life Assets & Resources
1. Reserve and resource life estimates refer to the mine life of the longest lived resource in the relevant commodity assuming production
at planned rates and in some cases development of as yet undeveloped projects. See the reserve and resource disclosure in our most
recent Annual Information Form, available on SEDAR and EDGAR, for additional detail regarding underlying assumptions.
7

8. Overview & Strategy
Long-Term Strategy Unchanged
Diversification to expand opportunity set
Long-life assets
Low half of the cost curve
Appropriate scale
Low risk jurisdictions
8

9. 0%
2%
4%
6%
8%
10%
12%
14%
-
100
200
300
400
500
600
700
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015f
GDP increase at 2010 constant prices
Increment of GDP, US$ bn (lhs) GDP real growth (rhs)
Source: NBS & CEIC
* Assuming 7.0% real GDP growth and a 6.16 RMB/USD exchange rate.
Lower GDP growth rate on a higher base
= strong absolute growth
In absolute terms, China’s GDP growth is
approximately double that of 10 years ago
Overview & Strategy
China’s Growth: Less is More!
9
• Incremental GDP in 2015 is
expected to be similar to
last year, in absolute terms
• 2014: ~US$613 billion
• 2015*: ~US$621 billion
• Nature of growth changing
from fixed asset intensive to
more consumer spending,
impacting material
consumption growth
US$Billion

10. Teck has good leverage to stronger zinc and copper
markets, and benefits from the weaker Canadian dollar
Overview & Strategy
The Value of Our Diversified Business Model
Cash Operating Profit 2014
Coal
~1/3rd
Copper
~60%
Zinc
~40%
Base
Metals
~2/3rds
Production
Guidance1
Unit of
Change
Estimated
Profit 2
Estimated
EBITDA2
Coal 27 Mt US$1/tonne $21M /$1∆ $32M /$1∆
Copper 350 kt US$0.01/lb $5M /$.01∆ $8M /$.01∆
Zinc 935 kt US$0.01/lb $8M /$.01∆ $12M /$.01∆
$C/$US C$0.01 $32M /$.01∆ $52M /$.01∆
2015 Leverage to Strong Commodities
1. Mid-point of 2015 guidance ranges. Zinc includes 650,000 tonnes of zinc in concentrate and 285,000 tonnes of refined zinc.
2. Based on $1.20 USD/CAD. The effect on our profit attributable to shareholders of commodity price and exchange rate
movements will vary from quarter to quarter depending on sales volumes.
10

11. 100.00
110.00
120.00
130.00
140.00
150.00
160.00
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Aug-14
Sep-14
Oct-14
Nov-14
Dec-14
Jan-15
Feb-15
Mar-15
$/tonne
AUS$
Stronger US dollar has increased coal prices in C$ terms
Source: Argus, Bank of Canada
• ~30 Mt cutbacks announced, slowly
being implemented
• Require additional cutbacks to
achieve market balance
• US coal production high end of cost
curve and no currency benefit
• Continued closure announcements
promising for last half of 2015
Coal Prices By Currency
Argus FOB Australia
CDN$
US$
Overview & Strategy
Met Coal Market Slowly Rebalancing;
Benefiting from Higher Prices in C$ Terms
plotted to
March 20, 2015
11

12. Overview & Strategy
Production Growth since 2010
23
27
21
22
23
24
25
26
27
28
2010 2015E*
Mt
313
350
290
300
310
320
330
340
350
360
2010 2015E*
kt645
660
620
625
630
635
640
645
650
655
660
665
2010 2015E*
kt
278
285
250
255
260
265
270
275
280
285
290
2010 2015E*
kt
CopperSteelmaking Coal
Zinc in Concentrate Refined Zinc
* 2015E based on midpoint of guidance range.
Overview & Strategy
Production Growth Since 2010
12

13. Source: Teck Resources Limited
1. Estimates are based on exchange rates as shown, expected bitumen netbacks, and operating costs of C$25 per barrel, including
sustaining capital of C$3-5 per barrel.
2. Per barrel of bitumen.
3. Go-forward capital is the go-forward amount from the date of the Fort Hills sanction decision (October 30, 2013), denominated in
Canadian dollars and on a fully-escalated basis.
4. Pre-tax free cash flow yield during capital recovery period.
The Fort Hills project is expected to have significant
free cash flow yield across a range of WTI prices
Fort Hills Free Cash Flow Yield4
Sensitivity to WTI Price
Potential Contribution
from Fort Hills
$70 WTI &
$0.80
CAD/USD
$90 WTI &
$0.90
CAD/USD
Teck’s share of annual production
(36,000 bpd)
13 Mbpa 13 Mbpa
Estimated netback2 ~$54/bbl ~$63/bbl
Estimated operating margin2 ~$29/bbl ~$38/bbl
Alberta oil royalty – Phase 1
(prior to capital recovery) 2 ~$2/bbl ~$4/bbl
Estimated net margin2 ~$26/bbl ~$34/bbl
Annual pre-tax cash flow ~$350 M ~$444 M
Teck’s share of go-forward capex3 ~$2,940 M ~$2,940 M
Free cash flow yield4 ~12% ~15%
0%
5%
10%
15%
20%
25%
60 70 80 90 100 110 120
FreeCashFlowYield
WTI $/bbl
$0.90 CAD/USD
$0.80 CAD/USD
Overview & Strategy
Fort Hills’ Economics Robust1
13

14. Overview & Strategy
Fort Hills Capex Well Covered
0
200
400
600
800
1000
1200
1400
1600
2014 Free Cash
Flow (before Fort
Hills Capex)
Weaker Canadian
dollar, relative to
the US dollar
Lower oil prices Lower commodity
prices (Cu, Zn,
Coal)
Implied Free Cash
Flow (before Fort
Hills Capex)
$Millions
$289
+$236 ($644)
$713
+$832
Effect of Disclosed Sensitivities
On Free Cash Flow1 (before Fort Hills Capex)2
$2.3B capex to fund over 3 years; with >$5B liquidity and good free cash flow
Sensitivity 2014A Current3 ∆ 2014A
to Spot
Estimated
EBITDA1
CAD/USD $1.10 $1.26 $0.16 $52M
/$0.01∆
Oil – WTI
(US$/bbl)
$93.00 $45.72 ($47.28) $5M
/$1∆
Copper
(US$/lb)
$3.11 $2.69 ($0.42) $8M
/$0.01∆
Zinc
(US$/lb)
$0.98 $0.91 ($0.07) $12M
/$0.01∆
Coal
(US$/t realized)
$115 $108 ($7) $32M
/$1∆
• Remaining share of Fort Hills capital
expenditure: C$2.3B over 3 years
• >$5B liquidity available
• Expected higher coal/copper production
and lower costs may improve cash flow
1. 2014A free cash flow is cash flow from operating activities, minus investing activities (excluding $615M investment in Fort Hills), and
debt interest paid, before returns to shareholders.
2. Implied impact of disclosed EBITDA sensitivities on free cash flow, assuming spot commodity prices and exchange rate as disclosed
in the table above, in comparison to 2014 average prices and exchange rate, for illustration purposes only. Other factors will have a
material impact on 2015 EBITDA, and actual results will vary materially from those suggested by this simplified model.
3. Spot prices at March 20, 2015.
14

15. Overview & Strategy
Our Sustainability Strategy
In 2011, Teck launched a sustainability strategy that
guides our approach to business.
Our strategy sets short-term goals to 2015 and long-term
goals to 2030 for each of our six focus areas.
15

16. Overview & Strategy
Sustainability in Action – Energy & Emissions
Anti-idling initiative is saving ~5 million litres of diesel in B.C. and Alberta,
and reducing emissions by the equivalent of 13,000 tonnes of CO2 per year
Equivalent diesel reduction of 1.2 million litres annually from installation of
lightweight truck boxes
Diesel savings alone are over $6 million per year
Expect to exceed our 2015 goals of 1,000 TJ
of energy reductions and 75 kt of CO2 reductions
16

17. Overview & Strategy
Sustainability in Action – Net Positive Impact
Invested $19 million to purchase and protect 7,150 hectares in Canada’s East
Kootenay Region near our steelmaking coal operations
Partnership with First Nations and environmental groups
Habitat conserved for wildlife and fish species
Supports business continuity and our ability to operate
17

18. Received the PDAC
2014 Environmental
and Social
Responsibility Award
Best 50 Corporate
Citizens in Canada
2014
On the Dow Jones
Sustainability World Index
five years in a row
One of top 100 most
sustainable companies
in the world and one of
Canada’s most
sustainable companies
Top 50 Socially
Responsible
Corporations in
Canada
Received the Globe
Foundation Environment
Award in 2014
Overview & Strategy
External Recognition
18

19. Overview & Strategy
Protecting & Building Shareholder Value
19
Executing our long-term strategy
Well-positioned for improving commodity markets
Benefiting from low oil prices & weak Canadian dollar
Controlling the controllable
Building an energy business with robust economics
Retaining a strong financial position & investment grade credit rating

20. Overview & Strategy
March 31, 2015
Don Lindsay, President & Chief Executive Officer