Teck Announces Commencement of Consent Solicitation

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NEW YORK, Aug. 03, 2026 (GLOBE NEWSWIRE) — Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (the “Company”) announced today the commencement of consent solicitations (each, a “Consent Solicitation” and, together, the “Consent Solicitations”) relating to its outstanding U.S. $142,236,000 aggregate principal amount of 3.900% notes due July 15, 2030 (the “2030
Notes”), its outstanding U.S. $179,456,000 aggregate principal amount of 6.125% notes due October 1, 2035 (the “2035 Notes”), its outstanding U.S. $189,908,000 aggregate principal amount of 6.000% notes due August 15, 2040 (the “2040 Notes”), its outstanding U.S. $242,528,000 aggregate principal amount of 6.250% notes due July 15, 2041 (the “2041 Notes”), its outstanding U.S. $166,862,000 aggregate principal amount of 5.200% notes due March 1, 2042 (the “2042 Notes”), and its outstanding U.S. $107,958,000 aggregate principal amount of 5.400% notes due February 1, 2043 (the “2043 Notes” and, together with the 2030 Notes, the 2035 Notes, the 2040 Notes, the 2041 Notes and the 2042 Notes, the “Affected Notes” and, together with any other notes issued from time to time under each relevant indenture, the “Notes”).

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As previously announced, on September 9, 2025, the Company and Anglo American plc (“Anglo American”, and following consummation of the Merger, “Anglo Teck”) entered into an Arrangement Agreement (the “Arrangement Agreement”), which provides for, among other things, the combination of the Company and Anglo American in a merger of equals by way of a plan of arrangement under the Canada Business Corporations Act (the “Merger”), with the Company continuing as a wholly owned subsidiary of Anglo Teck. Subject to the terms of the Arrangement Agreement, the receipt of necessary competition and regulatory approvals and satisfaction of other customary conditions precedent, the Merger is currently expected to be completed within the originally announced timeline of between September 2026 and March 2027 (12 to 18 months following the announcement of the Merger). The completion of the Merger is not a condition to the effectiveness of the Consents (as defined below) delivered by Holders (as defined below), the payment of the Consent Fee (as defined below) in respect of the Consent Solicitations is not conditioned upon completion of the Merger, and the Consent Solicitations are not a condition to the completion of the Merger.

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The Consent Solicitation relating to each series of Affected Notes will expire at 5:00 p.m., New York City time, on August 11, 2026, unless terminated or extended by the Company (with respect to each series, the “Expiration Date”). The Consent Solicitation relating to each series of Affected Notes is conditioned on the receipt of consents (“Consents”) from holders of record (“Holders”) of such series as of 5:00 p.m., New York City time, on July 31, 2026 (the “Record Date”) of at least a majority in principal amount of that series of outstanding Affected Notes. The Consent Solicitations are also subject to certain other customary conditions, each of which may be waived by the Company at any time.

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Subject to the satisfaction or waiver of all conditions to the applicable Consent Solicitation, the Company will, on the second business day after the applicable Expiration Date, cause to be paid to each Holder of a series of Affected Notes who has delivered (and not revoked) a valid Consent in favour of the proposed amendments in respect of such series of Affected Notes (the “Amendments”) a cash payment (the “Consent Fee”) of U.S. $1.00 for each U.S. $1,000 principal amount of that series of Affected Notes in respect of which such Consent has been delivered, subject to applicable withholding, if any.