Teck Resources Announces Offers to Purchase Outstanding Notes

Teck Resources Limited, a leading mining company, has announced the commencement of six separate offers to purchase its outstanding notes. The company aims to buy back up to US$1,250,000,000 aggregate principal amount of the listed series of notes. The purchase will be based on acceptance priority levels, with each series of notes that are accepted for purchase being fully bought back. There will be no proration of notes.

The offers are subject to the terms and conditions outlined in the Offer to Purchase and Notice of Guaranteed Delivery. Teck Resources will accept notes for purchase based on their respective acceptance priority levels, with higher levels being given priority. The offers will expire on July 15, 2024, unless extended or terminated earlier. Holders of notes can withdraw their tendered notes until the expiration date.

The initial settlement date is expected to be July 17, 2024, with a guaranteed delivery settlement date of July 19, 2024. Holders whose notes are accepted for purchase will receive the applicable total consideration in cash on the settlement date. In addition, they will receive a cash payment for accrued and unpaid interest on the notes.

Teck Resources has engaged BofA Securities, Inc. and RBC Capital Markets, LLC as lead dealer managers for the offers, with BMO Capital Markets Corp., TD Securities (USA) LLC, and CIBC World Markets Corp. acting as co-dealer managers. Global Bondholder Services Corporation will serve as the Information and Tender Agent.

The offers are subject to certain conditions, including the maximum purchase amount not exceeding US$1,250,000,000. Teck Resources reserves the right to increase or waive the maximum purchase amount at its discretion. The company may terminate or alter the offers if conditions are not satisfied.

This announcement is for informational purposes only and does not constitute an offer to purchase or a solicitation of an offer to sell any notes or securities. The offers are being made in compliance with applicable securities laws.

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