Red Dog MLE (Aktigiruq & Anarraaq) — zinc & lead project

Teck's principal zinc growth project, in the Red Dog District, Alaska, 10-20 km from the Red Dog operation. Formerly the Aktigiruq-Anarraaq Exploration Project. Prefeasibility stage for a potential underground mine leveraging the existing Red Dog mill and support facilities; 2025 work covered the exploration access road, engineering studies and environmental baseline. District resources are reported within underground stope shapes at a US$125/t NSR cut-off on the Red Dog mine's long-term price assumptions. Metallurgical recoveries: Anarraaq ~76% Zn, 54% Pb, 56% Ag; Aktigiruq ~81% Zn, 71% Pb (no silver resource is reported for Aktigiruq). Indicated and inferred mineral resources only — no mineral reserves declared.