Notes:
1. Non-GAAP Financial Measure. See “Use of Non-GAAP Financial Measures” section for further information.
2.请参阅“使用非GAAP财务措施”部分进行调节。

• 在2020年第四季度，我们录制了一个非现金，税前损害5.97亿美元（税后4.38亿美元），我们对堡山的兴趣。
• 截至2021年2月17日，流动性为65亿美元。

Key Updates
Executing on our copper growth strategy – QB2 a long-life, low-cost operation with major expansion potential

• Through Q4 2020, the project continued its staged ramp up of the construction workforce to pre-COVID-19 levels in line with our plans developed in Q2 2020.
  • 该项目继续加强其Covid-19的协议和管理协议;万博max手机登陆
  • 工作正在符合我们目前的计划的项目进展;
  • Achieved our target of overall project progress of 40% at year end, and;
  • 第一次生产预计在2022年下半年，但取决于我们能否继续成功地通过COVID-19的影响进行管理，以及其他事项。万博max手机登陆
• 我们已经根据我们目前的假设更新了我们对COVID-19相关项目总成本的估计，这些假设是由万博max手机登陆于我们的COVID-19协议中的暂停和对施工生产率的影响引起的。
  • The estimated impact, including expensed costs and additional camp space, is expected to be approximately US$450 to US$500 million (excluding interest), an increase of approximately US$50 million over our previous guidance.
• Click herefor photos of construction progress on QB2.

Operational resilience in the face of a global pandemic

• 尽管与Covid-19有关的持续挑战，但在2020年下半年，我们的运营符合计划和载入我万博max手机登陆们2021个运营计划的重大影响。
  • 我们所有的业务部门都实现了2020年下半年的生产和销售指导。
  • 我们的锌，炼钢煤炭和能源业务部门达到了H2 2020单位成本指导和我们的铜业务部门达到了H2 2020净单位成本指导。
  • 在2020年，我们的安全绩效指标处于最低水平，代表了我们有记录以来最安全的一年。

增加利润率 - 不是卷 - 我们的炼钢煤炭业务

• Steelmaking coal adjusted site cash cost of sales decreased in the fourth quarter to $58 per tonne, ahead of plan due to:
  • Elkview plant expansion;
  • The closure of our higher cost Cardinal River Operations;
  • Declining strip ratios, as planned;
  • 降低成本计划的好处；和
  • 赛车场21^TM举措。
• We completed construction and pre-commissioning of the Elkview saturated rock fill in the fourth quarter, on schedule and below budget.
• 海王星散装终端（海王星）升级项目，为我们的炼钢煤提供更低的成本，更可靠的供应链是建设的最终阶段。
  • 所有主要设备已安装，工作活动专注于最终的机械设备和电气和控制系统的完成。已将重要的新设施投入运营并正在进行计划。
  • 在第四季度开始的Covid万博max手机登陆-19感染的激增影响了项目的成本和时间表，尽管仍然预计在第2季度初期初期通过新的双重翻斗车来处理。在影响前的项目总成本Cov万博max手机登陆id-19预计大约10％至于我们之前的估计和与Covid-19影响相关的成本，因为大流行病的爆发估计是额外的80％至1亿美元。

Strong financial position

• We have US$3.7 billion available on our US$4.0 billion revolving credit facility and our US$1.0 billion revolving credit facility is undrawn as at February 17, 2021. These facilities are committed to November 2024 and June 2022, respectively. Neither facility has an earnings or cash flow based financial covenant, a credit rating trigger or a general material adverse effect borrowing condition.
• 自2019年第四季度初推出我们的成本减少计划以来，我们已经实现了大约3.55亿美元的运营成本，1.71,000万美元的资本成本减少。这些减少违反了2019年6月底预期的预期支出。我们的降低计划现在已经完成，并纳入了我们的运营计划和指导。

Safety and sustainability leadership

• 健康和安全is a core value for Teck. We are deeply saddened by the fatality that took place in January 2021 at our Red Dog operations. Our investigation of the incident is ongoing.
• We were named to the S&P 2020 Dow Jones Sustainability World Index for the 11th consecutive year and recognized as the industry leader in Metals and Mining. We were also recognized in January as one of the 2021 Global 100 Most Sustainable Corporations by Corporate Knights.
• 我们被命名为福布斯世界上最好的雇主2020年名单，加拿大年轻人2021年的顶级雇主，并将MediaCorp加拿大最高雇主的计划连续第一个连续第100个雇主之一。
• 我们连续四年入选2021年彭博社两性平等指数。
• 引导
• Summary guidance for 2021 is outlined below and our usual guidance tables, including three-year production guidance, can be found on pages 36 — 39 of Teck’s full fourth quarter results for 2020 at the link below.

2021指南-总结
生产指导
Copper (000’s tonnes)	275 – 290
Zinc (000’s tonnes)	585 – 610
精炼锌（千吨）	3.00 – 310
炼钢煤炭（百万吨）	25.5 – 26.5
Bitumen (million barrels)	8.6 - 12.1.
销售指导 - Q1 2020
红色狗锌浓缩销售（000吨）	90 - 100
炼钢煤销量（百万吨）	5.9 - 6.3
单位成本指导
Copper net cash unit costs (US$/lb.)	$1.30 – 1.40
锌净现金单位费用（US $ / LB）	$0.40 – 0.45
Steelmaking coal adjusted site cash cost of sales (CAD$/tonne)	$59 – 64
炼钢煤炭运输成本（CAD $ /吨）	$36 – 39
Bitumen adjusted operating costs (CAD$/barrel)	$28 – 32

Click here查看Teck的全部第四季度2020年的结果。

网络广播
Teck将于2011年2月18日星期四，在2011年2月18日星期四上午11:00，在东部时间上午11:00，举办投资者会议，讨论其Q4 / 2020财务业绩。现场音频网络广播电话会议的内容，连同辅助演示幻灯片，将在我们的网站上提供m.xzjshn.com. 网络广播将存档在m.xzjshn.com

Investor Contact:
Fraser Phillips
Senior Vice President, Investor Relations & Strategic Analysis
6.04.699.4621
fraser.phillips@teck.com

Media Contact:
玛西娅史密斯
可持续发展和对外事务高级副总裁
6.04.699.4616
marcia.smith@teck.com

Use of Non-GAAP Financial Measures
我们的财务业绩按照国际会计准则董事会颁​​发的国际财务报告标准（IFRS）编制。本文件指的是许多非GAAP财务措施，这些措施不受IFRS认可的措施，并且没有IFRS或普遍接受美国的会计原则（GAAP）规定的标准化含义。这些非GAAP财务措施是下面讨论的，以及适用于相关的IFRS措施的规定和和解。

调整后归属于股东的利润–对于调整后的利润，我们据报道，我们调整股东归属的利润，以删除反映我们资产负债表上的测量变更的某些类型交易的余税效果，或者不指示我们正常的经营活动。我们认为调整后的利润有助于我们，读者更好地了解我们正常运营活动的结果和我们业务的正在进行的现金产生潜力。

调整每股基本收益 -调整后的基本每股收益是调整后的利润除以该期间发行在外的平均股数。

调整每股摊薄盈利 -调整后摊薄每股收益是调整后利润除以一段时期内完全摊薄的平均股数。

息税折旧摊销前利润-EBITDA是净财务费用前的利润，所得税提供税收和折旧和摊销。

调整后息税折旧摊销前利润–调整后的息税折旧摊销前利润是指我们对上述归属于股东的调整后利润进行的税前调整前的息税折旧摊销前利润。

The adjustments described above to profit attributable to shareholders and 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.

折旧和摊销前的毛利 -折旧和摊销前的毛利率is gross profit with the 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.

Net cash unit costs –主要产品的净现金单位成本，扣除合作产品和副产品利润后，也是一个共同的行业措施。通过每个单位的主要产品扣除共同和副产品余量，可以在单位基础上的矿井边缘以单一的指标呈现，以便与其他操作相比。读者应该意识到这种指标，通过排除某些项目和重新分类成本和收入项目，将我们的实际生产成本扭曲为IFRS所确定的。

调整的网站现金成本销售 -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.

Profit (Loss) and Adjusted Profit

			三个月 ended December 31,		Year ended December 31,
(CAD$ in millions)			2020.	2019年	2020.	2019年
利润损失）attributable to shareholders			$(464)	$(1,835)	$(864)	$(605)
在税后添加（扣除）：
资产减值			4.3.8.	1,943	912.	2,052
万博max手机登陆Covid-19成本			-	-	23.3.	-
环境成本			201	6.2	210	14.2
库存写下			15	3.4.	91	4.1
Share-based compensation			21	4.	3.4.	3.
Commodity derivative losses (gains)			(15)	1	（46）	（13）
Debt prepayment option gain			-	-	-	（77）
债务赎回或购买损失			-	-	8.	16.6.
Taxes and other			52	14.	(17)	（12）
调整后归属于股东的利润			$248	$223	$561	1,697美元
Adjusted basic earnings per share			$0.47	0.40美元	$ 1.05	$3.03
Adjusted diluted earnings per share			$0.46	0.40美元	1.04美元	$3.00

Reconciliation of Basic Earnings per share to Adjusted Basic Earnings per share

			三个月 ended December 31,		Year ended December 31,
(Per share amounts)			2020.	2019年	2020.	2019年
Basic earnings (loss) per share			$(0.87)	$（3.33）	$（1.62）	$(1.08)
Add (deduct):
资产减值			0.82	3..52	1.71	3..67
万博max手机登陆Covid-19成本			-	-	0.44	-
环境成本			0.37	0.11	0.39	0.25
库存写下			0.03	0.06	0.17	0.07
Share-based compensation			0.04	0.01	0.06	0.01
Commodity derivative losses (gains)			(0.03)	-	(0.09)	(0.02)
Debt prepayment option gain			-	-	-	(0.13)
债务赎回或购买损失			-	-	0.01	0.29
Taxes and other			0.11	0.03	(0.02)	(0.03)
Adjusted basic earnings per share			$0.47	0.40美元	$ 1.05	$3.03

Reconciliation of Diluted Earnings per share to Adjusted Diluted Earnings per share

			三个月 ended December 31,		Year ended December 31,
(Per share amounts)			2020.	2019年	2020.	2019年
每股摊薄盈利（亏损）			$(0.87)	$（3.33）	$（1.62）	$(1.08)
Add (deduct):
资产减值			0.82	3..49	1.70	3..63
万博max手机登陆COVID-19成本			-	-	0.43	-
环境成本			0.37	0.11	0.39	0.25
库存写下			0.03	0.06	0.17	0.07
Share-based compensation			0.04	0.01	0.07	0.01
Commodity derivative losses (gains)			(0.03)	-	(0.09)	(0.02)
Debt prepayment option gain			-	-	-	(0.13)
债务偿还损失			-	-	0.01	0.29
Taxes and other			0.10	0.06	(0.02)	(0.02)
Adjusted diluted earnings per share			$0.46	0.40美元	1.04美元	$3.00

Reconciliation of EBITDA and Adjusted EBITDA

			三个月 ended December 31,		Year ended December 31,
(CAD$ in millions)			2020.	2019年	2020.	2019年
利润损失）			$(473)	$(1,855)	$(944)	$（588）
Finance expense net of finance income			4.4.	4.6.	26.8.	218.
Provision for (recovery of) income taxes			（76）	(510)	（192）	120
折旧和摊销			4.06	4.15	1,510	1,619
EBITDA			(99)	（1,904）	6.4.2	1,369
Add (deduct):
资产减值			597	2,519	1,244	2,690
万博max手机登陆COVID-19成本			-	-	3.3.6.	-
环境成本			258	85	270	197
库存写下			23.	51	13.4.	6.0
Share-based compensation			29	6.	4.7	4.
Commodity derivative losses (gains)			（20）	2	(62)	(17)
Debt prepayment option gain			-	-	-	(105)
债务赎回或购买损失			-	-	11	224.
Taxes and other			51	26.	（52）	51
调整后息税折旧摊销前利润			$839	$785	$2,570	4473美元

Reconciliation of Gross Profit Before Depreciation and Amortization

			三个月 ended December 31,		Year ended December 31,
(CAD$ in millions)			2020.	2019年	2020.	2019年
毛利润			$505	$460	1,333美元	$3,340
折旧和摊销			4.06	4.15	1,510	1,619
折旧和摊销前的毛利率			$911	$875	$2,843	$4,959
报告为：
Copper
高地谷铜			185美元	$117	$476	$395
antamina.			210	16.4.	566	614.
Carmen de Andacollo			6.3.	(14)	170	89
夫拉达布兰卡铜矿			12	(28)	3.0	(18)
			4.70	23.9	1,242	1,080
Zinc
小径操作			27	（10）	6.5	-
红狗			188	210	717.	837.
PEND OREILLE.			-	-	-	（4）
Other			2	(15)	3.3.	（2）
			217	185	815.	831.
Steelmaking coal			24.8.	4.4.8.	1,009	2,904
Energy			（24）	3.	(223)	14.4.
折旧和摊销前的毛利率			$911	$875	$2,843	$4,959

铜单位成本对账

			三个月 ended December 31,		Year ended December 31,
(CAD$ in millions, except where noted)			2020.	2019年	2020.	2019年
Revenue as reported			$820	$592	$2,419	$2,469
By-product revenue (A)			(104)	（68）	(300)	(311)
冶炼厂加工费用(B)			4.0	3.8.	14.0	16.4.
调整后收入			$756	$562	2,259美元	$2,322
报告的销售成本			$452	$462	1,560美元	$1,852
Less:
折旧和摊销			(102)	(109)	(383)	(463)
Inventory (write-downs) provision reversal			-	（20）	-	（24）
劳动结算和罢工成本			-	（22）	-	（35）
By-product cost of sales (C)			(29)	(19)	(71)	（58）
Adjusted cash cost of sales (D)			$321	$ 292.	$ 1,106	1,272美元
Payable pounds sold (millions) (E)			172.7	158.5	591.7	6.4.1.7
每单位金额–加元/磅
Adjusted cash cost of sales (D/E)			$1.86	$1.84	$1.87	$1.98
冶炼厂加工费用（B / E）			0.23	0.24	0.23	0.26
Total cash unit costs – CAD$/pound			$2.09	$2.08	$2.10	$2.24
副产品现金保证金– ((A – C)/E)			(0.43)	(0.31)	(0.39)	(0.39)
净现金单位成本 - CAD $ /磅			$1.66	$1.77	$1.71	$1.85
美元金额1
平均汇率（CAD $每1.00美元）			$1.30	$1.32	$1.34	$1.33
每单位金额 - 美元/磅
Adjusted cash cost of sales			$1.42	$1.40	$1.39	$1.49
冶炼厂加工费用			0.18	0.18	0.18	0.19
Total cash unit costs – US$/pound			$1.60	$1.58	$1.57	$1.68
副产品现金保证金			（0.33）	(0.24)	(0.29)	(0.29)
净现金单位成本-美元/英镑			$1.27	$1.34	$1.28	$1.39

前瞻性声明的警示性声明

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 “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “should”, “believe” 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.

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 potential impact of the COVID-19 on our business and operations, including our ability to continue operations at our sites and progress our projects and strategy; our ability to manage challenges presented by COVID-19, including the effectiveness of our management protocols implemented to protect the health and safety of our employees; expected impacts of COVID-19 on our 2021 operating plans; expectation that we will be well positioned as the rollout of vaccines and stimulus in the event of global economic recovery and associated commodity demand; QB2 ramp-up plans and expectations and timing of Teck’s contributions to project capital; estimated COVID-19 related costs on our QB2 project; impact of the construction suspension period at our QB2 project; estimated timing of first production from QB2; expectation that QB2 will be a long-life, low-cost operation with major expansion potential; effectiveness of our tailings and water-related projects to manage increased water volumes at Red Dog, including expectation that they will minimize potential constraints on production in the future; expectations regarding the Neptune Bulk Terminals facility upgrade including costs, benefits and timing of completion of the upgrade, our expectations regarding the continued impact of costs associated with COVID-19 response measures on unit costs; expectations regarding the benefits of CP and CN Rail infrastructure improvements to support increased volumes through Neptune Bulk Terminals; expectation regarding mining in new areas at Fording River, Elkview and Greenhills Operation and anticipated long term production from these operations; coal sales to China targets; benefits of the agreements with Westshore and Ridley Terminals, including that they will provide greater flexibility and optionality and contribute to reduced costs and improved performance and reliability; timing of construction and completion of our Fording AWTF and our SRFs; our expectation that Fording River AWTF will be the last full-scale AWTF and that future treatment facilities will be SRFs; expected Elk Valley water treatment spending, capital and operating costs, and plans; expected cost of implementing incremental measures required under the October 2020 Direction issued by Environment and Climate Change Canada; expected benefits that will be generated from our RACE21™ innovation-driven business transformation initiative; Fort Hills focus on cost discipline and ability to ramp up production; liquidity and availability of borrowings under our credit facilities and the QB2 project finance facility; timing of Teck’s next contributions to QB2 project capital; our expectations regarding the amount of Class B subordinate voting shares that might be purchased under the normal course issuer bid and the mechanics thereof; and all guidance appearing in this document including but not limited to the production, sales, cost, unit cost, capital expenditure, cost reduction and other guidance under the heading “Guidance” and discussed in the various business unit sections.

这些陈述基于许多假设，包括但不限于关于一般商业和经济条件，利率，商品和电价，外国或国内政府的行为以及法律诉讼的结果，供需，供需铜，煤，锌和混纺沥青价格和其他金属和矿物质，以及石油，天然气和其他石油产品，以及收到监管和政府批准的时机的水平和波动对于我们的开发项目和其他业务，包括矿山扩展;关于我们扩展和开发项目的研究的积极结果;我们为我们的产品生产和生产力水平以及我们的竞争对手的生产成本以及我们的业务，我们的能力，我们的生产和生产力水平以及我们的能力，我们的生产成本和生产力水平以及我们的能力为我们的产品保护足够的运输，管道和港口服务;金融市场的信贷市场条件和条件的变化一般，资金可用性地改善我们的借款，因为它们成为归因于到期或以合理的术语融资我们的发展项目;我们能够以足够的数量采购设备和运营供应的能力;合格员工和承包商的运营提供，包括我们的新发展和吸引和留住熟练员工的能力;与工会员工的集体协议达成令人满意的谈判; the impact of changes in Canadian-U.S. dollar 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, including the impact of our RACE21™ program; costs of closure, and environmental compliance costs generally; 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; new curtailment measures on oil production taken by the Government of Alberta; the resolution of environmental and other proceedings or disputes; our ability to obtain, comply with and renew permits in a timely manner; and our ongoing relations with our employees and with our business and joint venture partners. Assumptions regarding our Red Dog tailings and water-related projects include assumptions regarding the effectiveness of the projects and future water volumes. Guidance regarding our Highland Valley Copper production assumes, among other things, that we will start processing softer ores after 2022. Our Guidance tables include footnotes with further assumptions relating to our guidance.

此外,假设关于麋鹿山谷水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 “Elk Valley Water Management Update”. Assumptions regarding QB2 include current project assumptions and assumptions regarding the final feasibility study, CLP/USD exchange rate of 775, as well as there being no unexpected material and negative impact to the various contractors, suppliers and subcontractors for the QB2 project relating to COVID-19 or otherwise that would impair their ability to provide goods and services as anticipated during the suspension period or ramp-up of construction activities. Assumptions regarding the benefits of the Neptune Bulk Terminals expansion include assumptions that the relevant project is constructed and operated in accordance with current expectations. Statements regarding the availability of our credit facilities and project financing facility 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.

声明关于未来生产成本或volumes are based on numerous assumptions regarding operating matters and on assumptions that counterparties perform their contractual obligations, that operating and capital plans will not be disrupted by issues such as mechanical failure, unavailability of parts and supplies, labour disturbances, interruption in transportation or utilities, adverse weather conditions, and that there are no material unanticipated variations in the cost of energy or supplies and may be further impacted by reduced demand for oil and low oil prices. The foregoing list of assumptions is not exhaustive. Events or circumstances could cause actual results to vary materially.

Factors that may cause actual results to vary materially include, but are not limited to, 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), 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 government approvals, 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 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 of environmental impact assessments, and changes or further deterioration in general economic conditions. 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. 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, construction progress and timing of first production is dependent on, among other matters, our continued ability to successfully manage through the impacts of COVID-19. 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. Red Dog production may also be impacted by water levels at site.

这条新闻发行的前瞻性陈述e and actual results will also be impacted by the effects of COVID-19 and related matters. The overall effects of COVID-19 related matters on our business and operations and projects will depend on how the ability of our sites to maintain normal operations, and on the duration of impacts on our suppliers, customers and markets for our products, all of which are unknown at this time. Continuing operating activities is highly dependent on the progression of the pandemic and the success of measures taken to prevent transmission, which will influence when health and government authorities remove various restrictions on business activities.

除非在证券法下，我们不承担更新前瞻性陈述的义务。关于与这些前瞻性陈述和我们的业务相关的风险和不确定性的进一步资料，可以在2019年12月31日止年度的年度信息表中找到，根据我们的塞纳达提交(www.sedar.com)还有埃德加(www.sec.gov.) under cover of Form 40-F, as well as subsequent filings that can also be found under our profile.

Scientific and technical information in this quarterly report regarding our coal properties, which for this purpose does not include the discussion under “Elk Valley Water Management Update” was reviewed, approved and verified by Jo-Anna Singleton, P.Geo. and Robin Gold 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.