Notes:
1非公认会计原则财务指标。有关更多信息，请参阅“非公认会计原则财务指标的使用”一节。
2. See “Use of Non-GAAP Financial Measures” section for reconciliation.

Key Updates

提高我们炼钢煤炭业务的利润率，而不是数量

• 炼钢煤调整现场销售现金成本^{(1) (2)}第三季度降至每吨67美元。调整后的销售现场现金成本^{(1) (2)}are expected to decrease over the remainder of 2020 and we expect to exit the year below $60 per tonne due to:
  • 按计划，剥离率下降；
  • 埃尔克维尤plant expansion and the closure of our higher cost Cardinal River Operations; and
  • Benefits of our cost reduction and RACE21™ programs.
• We are nearing completion of construction of our Fording River South Active Water Treatment Facility (completion expected near the end of Q1 2021) and the Elkview saturated rock fill will be commissioned in Q4 2020, ahead of schedule and under budget.

Neptune Bulk Terminals – securing a low-cost reliable supply chain for our steelmaking coal business unit

• The Neptune Bulk Terminals upgrade project remains in line with the previously announced capital estimate and schedule.

• To date, COVID-19 related issues have not substantially impacted works on the critical path.

• 海王星散货码头为期5个月的计划停工已于9月结束，为升级项目的安全生产建设工作带来了预期的效益。施工正在按计划进行，预计2021年第一季度完工。

• Major equipment deliveries are complete with all equipment on site, concluding with the new shiploader arrival at the terminal on October 8.Click here有关在海王星散货码头交付和安装新装船机的照片和视频。

• Operational readiness efforts are well underway with commissioning on major pieces of equipment including the single dumper and stacker reclaimer proceeding according to, or ahead of, plan.

Executing on our copper growth strategy– QB2 a长寿命,低成本运营with主要扩张潜力

• 通过第三季度，该项目按照我们在第二季度制定的计划，继续分阶段增加施工劳动力，使其达到COVID-19之前的水平。亚博首页官网
  • Currently over 7,000 people on site and planning to continue ramp up through Q4, targeting over 9,000 people by the end of the year;
  • All major contractors remobilized and work is progressing well across the project in line with our ramp-up plan;
  • The construction of the additional camp space is progressing well and will provide additional capacity as this begins to come on line in Q4; and
  • Aiming to achieve overall project progress of approximately 40% by the end of the year.
• 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进行管理。COVID-19导致的临时暂停的成本和进度影响估计如下：亚博首页官网
  • 在第三季度，我们支出了QB2项目暂停和再动员相关的约1.07亿美元成本和2300万美元的利息，否则该项目将被资本化；
  • As at the end of Q3 2020, due to the suspension, we have expensed total costs of $272 million and $103 million of interest that would have otherwise been capitalized for the project
  • The estimated impact from the suspension, including expensed costs, is expected to be approximately US$350 to $400 million (excluding interest) with a schedule delay of approximately five to six months; and
  • In addition, we are in the process of constructing more camp space at an incremental cost of US$45 million that would not have been required absent COVID-19.

• Click hereQB2施工进度照片。

财务状况良好

• We have US$3.8 billion available on our US$4.0 billion revolving credit facility and our US$1.0 billion revolving credit facility is undrawn as at October 26, 2020. 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.

• Since the launch of our cost reduction program at the beginning of Q4 2019, we have realized approximately $270 million in operating cost reductions and $550 million in capital cost reductions. These reductions are against our expected spending that was contemplated at the end of June 2019.

亚博首页官网COVID-19对我们业务的影响

• Our global workforce and contractors continue to work safely and productively as we deal with the challenges associated with the COVID-19 pandemic. Our ability to minimize the spread of the virus amongst our employees and surrounding communities has been critical.

• 协议仍然有效，持续关注预防措施、控制和合规性，并将其纳入我们的运营和规划“新常态”。

• 我们所有的矿山在第二季度都已从COVID-19生产中断中恢复。劳动密集型活亚博首页官网动，如维护、矿山作业和项目，继续受到COVID-19安全协议的影响。

• 由于COVID-19于2020年3月暂停QB2项目后，我们在本季度花费了1.3亿美元的费用，这些费用与QB2项目的临时暂停和重新动员有关。亚博首页官网

安全和可持续性领导

• 今年迄今为止，每百万工时的高潜在事故频率（HPIF）（可能导致严重或致命伤害的事故）为1.1，比2019年同期低31%。

• Entered into a long-term power purchase agreement to provide 100% renewable power for Carmen de Andacollo Operations, eliminating approximately 200,000 tonnes of greenhouse gas (GHG) emissions annually.

• 截至第三季度末，Teck是Sustainalytics、Vigeo Eiris、道琼斯可持续发展指数和FTSE4Good在ESG表现方面排名第一的矿业公司；ISS ESG在矿业公司中排名前10%；MSCI的评级为“A”。

Guidance

• 我们已经降低了2020年下半年（2020年下半年）的资本支出、资本化剥离和锌单位成本指导。同时，根据高地谷铜业的变化，我们将2020年下半年的铜产量指导范围降低了5000吨。我们对2020年下半年的剩余指导与我们之前披露的保持不变

• Summary guidance is outlined below and our usual guidance tables can be found on pages 36 - 39 of Teck’s full third quarter results for 2020 at the link below.

2020指南-总结
Production Guidance – H2 2020
Steelmaking coal (million tonnes)	11– 12
铜(000’s tonnes)	140 – 155
锌（千吨）	315 – 345
精炼锌（千吨）	155 – 165
Bitumen (million barrels)	3.6 – 4.4
Sales Guidance – Q4 2020
Steelmaking coal sales (million tonnes)	5.8 – 6.2
Red Dog zinc in concentrate sales (000’s tonnes)	145 – 155
单位成本指导——2020年下半年
炼钢煤调整现场销售现金成本（加元/吨）	$60 – 64
Steelmaking coal transportation costs (CAD$/tonne)	$39 – 42
铜total cash unit costs (US$/lb.)	$1.45 – 1.55
铜净现金单位成本（美元/磅）	$1.20 – 1.30
锌total cash unit costs (US$/lb.)	$0.55 – 0.60
锌net cash unit costs (US$/lb.)	$0.30 – 0.40
沥青调整运营成本（加元/桶）	$35 – 38

There is still uncertainty over the extent and duration of impacts that COVID-19 may have on demand and prices for our commodities, on our suppliers, customers and employees and on global financial markets. Accordingly, our ability to achieve the results provided in the guidance summary above depends on various factors relating to the course of the COVID-19 pandemic, in addition to the usual factors. See page 64 of Teck’s full third quarter results for 2020 at the link below for details.

Click hereto view Teck’s full third quarter results for 2020.

网络广播

Teck will host an Investor Conference Call to discuss its Q3/2020 financial results at 11:00 AM Eastern time, 8:00 AM Pacific time, on2020年10月27日，星期二. 电话会议的现场音频网络广播，以及辅助演示幻灯片，将在我们的网站上提供m.zaojianmedia.com. 网络广播将存档在m.zaojianmedia.com

投资者联系人：
Fraser Phillips
投资者关系与战略分析高级副总裁
604.699.4621
菲利普斯@科技网

媒体联系方式：
Marcia Smith
Senior Vice President, Sustainability and External Affairs
604.699.4616
玛西娅·史密斯@科技网

Use of Non-GAAP Financial Measures

我们的财务结果是根据国际会计准则委员会颁布的国际财务报告准则（IFRS）编制的。本文件涉及一些非公认会计原则的财务指标，这些指标不属于国际财务报告准则下认可的指标，也不具有国际财务报告准则或美国公认会计原则（GAAP）规定的标准化含义。下文讨论了这些非公认会计原则财务指标，并对相关国际财务报告准则指标进行了定义和调整（如适用）。

Adjusted profit attributable to shareholders–对于调整后的利润，我们根据报告调整归属于股东的利润，以消除某些类型的交易的税后影响，这些交易反映了我们资产负债表上的计量变化或不代表我们的正常经营活动。我们相信，调整后的利润有助于我们和读者更好地了解我们的核心经营活动的结果和我们业务的持续现金产生潜力。

调整后基本每股收益–调整后的基本每股收益是调整后的利润除以当期平均已发行股份数。

调整后稀释每股收益–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股票的平均数量。

EBITDA–息税折旧摊销前利润是扣除净财务费用、所得税准备金以及折旧和摊销前的利润。

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.

Gross profit before depreciation and amortization–折旧和摊销前的毛利是加回折旧和摊销费用的毛利。我们相信，这项措施有助于我们和读者评估我们的能力，产生现金流从我们的业务单位或运营。

调整后的销售现场现金成本– 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

			Three months ended September 30,		Nine months ended September 30,
(CAD$ in millions)			2020	2019	2020	2019
归属于股东的利润（亏损）			$61	$369	$(400)	$1,230
Add (deduct) on an after-tax basis:
Asset impairment			–	–	474	109
COVID-19 costs			64	–	233	–
Environmental costs			27	26	9	80
Inventory write-downs (reversals)			11	6	76	7
股份制薪酬			18	(20)	13	(1)
商品衍生品损失（收益）			(26)	(8)	(31)	(14)
Debt prepayment option gain			–	–	–	(77)
债务赎回或购买损失			–	–	8	166
Taxes and other			(25)	16	(69)	(26)
Adjusted profit attributable to shareholders1			$130	$389	$313	$1,474
调整后基本每股收益1 2			$0.24	$0.70	$0.58	$2.62
调整后稀释每股收益1 2			$0.24	$0.69	$0.58	$2.59

基本每股收益与调整后基本每股收益的对账

			Three months ended September 30,		Nine months ended September 30,
(每个莎尔e amounts)			2020	2019	2020	2019
Basic earnings (loss) per share			$0.11	$0.66	$(0.75)	$2.19
加（减）：
Asset impairment			–	–	0.88	0.19
COVID-19 costs			0.12	–	0.43	–
Environmental costs			0.05	0.05	0.02	0.14
Inventory write-downs (reversals)			0.02	0.01	0.14	0.01
股份制薪酬			0.04	(0.04)	0.03	–
商品衍生品损失（收益）			(0.05)	(0.01)	(0.06)	(0.02)
债务提前偿还期权损失（收益）			–	–	–	(0.13)
债务赎回或购买损失			–	–	0.01	0.29
Taxes and other			(0.05)	0.03	(0.12)	(0.05)
调整后基本每股收益			$0.24	$0.70	$0.58	$2.62

稀释每股收益与调整后稀释每股收益的对账

			Three months ended September 30,		Nine months ended September 30,
(每个莎尔e amounts)			2020	2019	2020	2019
Diluted earnings (loss) per share			$0.11	$0.66	$(0.75)	$2.16
加（减）：
Asset impairment			–	–	0.88	0.19
COVID-19 costs			0.12	–	0.43	–
Environmental costs			0.05	0.04	0.02	0.14
Inventory write-downs (reversals)			0.02	0.01	0.14	0.01
股份制薪酬			0.04	(0.04)	0.03	–
商品衍生品损失（收益）			(0.05)	(0.01)	(0.06)	(0.02)
Debt prepayment option gain			–	–	–	(0.13)
Debt redemption loss			–	–	0.01	0.29
Taxes and other			(0.05)	0.03	(0.12)	(0.05)
调整后稀释每股收益			$0.24	$0.69	$0.58	$2.59

Reconciliation of EBITDA and Adjusted EBITDA

			Three months ended September 30,		Nine months ended September 30,
(CAD$ in millions)			2020	2019	2020	2019
Profit (loss)			$25	$373	$(471)	$1,267
扣除财务收入后的财务费用			63	56	224	172
准备(复苏)所得税			19	171	(116)	630
Depreciation and amortization			412	436	1,104	1,204
EBITDA			519	1,036	741	3,273
加（减）：
Asset impairment			–	–	647	171
COVID-19 costs			107	–	336	–
Environmental costs			37	35	12	112
Inventory write-downs (reversals)			18	7	111	9
股份制薪酬			25	(27)	18	(2)
商品衍生品损失（收益）			(35)	(11)	(42)	(19)
Debt prepayment option gain			–	–	–	(105)
债务赎回或购买损失			–	–	11	224
Taxes and other			(33)	24	(103)	25
调整后息税折旧摊销前利润			$638	$1,064	$1,731	$3,688

折旧摊销前毛利的调节

			Three months ended September 30,		Nine months ended September 30,
(CAD$ in millions)			2020	2019	2020	2019
Gross profit			$291	$787	$828	$2,880
Depreciation and amortization			412	436	1,104	1,204
Gross profit before depreciation and amortization			$703	$1,223	$1,932	$4,084
Reported as:
Steelmaking coal			$120	$628	$761	$2,456
铜
高地谷铜			121	107	291	278
Antamina			173	136	356	450
Carmen de Andacollo			31	30	107	103
Quebrada Blanca			11	(6)	18	10
Other			–	2	–	–
			336	269	772	841
锌
Trail Operations			14	2	38	10
Red Dog			255	284	529	627
Pend Oreille			–	(3)	–	(4)
Other			14	(6)	31	13
			283	277	598	646
能量			(36)	49	(199)	141
Gross profit before depreciation and amortization			$703	$1,223	$1,932	$4,084

炼钢用煤Unit Cost Reconciliation

			Three months ended September 30,		Nine months ended September 30,
(CAD$ in millions, except where noted)			2020	2019	2020	2019
Cost of sales as reported			$762	$852	$2,273	$2,546
减去：
运输费用			(221)	(237)	(660)	(727)
Depreciation and amortization			(183)	(203)	(520)	(585)
Inventory (write-down) reversal			(18)	(4)	(45)	(4)
Labour settlement			–	–	(4)	–
调整后的销售现场现金成本			$340	$408	$1,044	$1,230
Tonnes sold (millions)			5.1	6.1	15.8	18.7
Per unit amounts – CAD$/tonne
调整后的销售现场现金成本			$67	$67	$66	$66
运输费用			43	39	42	39
Inventory write-downs			3	1	3	–
Unit costs – CAD$/tonne			$113	$107	$111	$105
US$ amounts1
Average exchange rate (CAD$ per US$1.00)			$1.33	$1.32	$1.35	$1.33
Per unit amounts – US$/tonne
调整后的销售现场现金成本			$50	$51	$49	$50
运输费用			32	29	31	29
Inventory write-downs			3	1	2	–
Unit costs – US$/tonne			$85	$81	$82	$79

Notes:
1. Average period exchange rates are used to convert to US$/tonne equivalent

前瞻性声明的警示性声明

本新闻稿包含适用证券法中定义的某些前瞻性信息和前瞻性声明（统称为前瞻性声明）。这些陈述与未来事件或我们未来的表现有关。除历史事实陈述外，所有陈述均为前瞻性陈述。使用“预期”、“计划”、“继续”、“估计”、“预期”、“可能”、“将”、“计划”、“预测”、“潜在”、“应该”、“相信”和类似表达的目的是识别前瞻性陈述。这些声明涉及已知和未知的风险、不确定性和其他因素，这些因素可能导致实际结果或事件与此类前瞻性声明中预期的结果或事件存在重大差异。这些声明仅在本新闻发布之日有效。

这些前瞻性声明包括但不限于以下声明：我们的重点和战略；我们商品的预期全球和地区供应、需求和市场前景；COVID-19对我们业务和运营的潜在影响，包括我们在我们的现场继续运营的能力；我们的管理能力COVID-19提出的挑战；成本降低计划目标和实现这些目标的时间；我们炼钢煤炭业务部门的预期调整现场销售现金成本；QB2提升计划和预期；QB2项目施工暂停期的估计影响；QB2首次生产的估计时间；预期QB2将是一个长寿命、低成本的操作，具有重大的扩展潜力；关于海王亚博首页官网星散装码头设施升级的预期，包括成本、资本支出、效益和完成升级的时间，我们对COVID-19响应措施相关成本的持续影响的预期单位成本；与Westshore签订的具有约束力的协议条款、该协议下的年度和总运量，以及泰克对整个泰克炼钢煤炭供应链更大的灵活性、可选性、降低成本和提高性能的期望；我们的Fording AWTF和SRF的建造和完工时间；我们预计Fording River AWTF将是最后一个全面的AWTF，未来的处理设施将是SRF；预计的Elk Valley水处理支出和计划；Elkview SRF调试的时间安排；对Highland Valley copper在第四季度提高铜产量的预期；对QB2进展的预期到年底和施工劳动力水平高峰的时间；预计Red Dog的所有产品将在装运季节装运；预计2020年Fort Hills的年产量和单位运营成本；资本支出估计；预计从我们的比赛中产生的效益21™ 创新驱动的业务转型计划以及相关的时间安排和实施成本；我们的信贷安排和QB2项目融资安排下借款的流动性和可用性；泰克下一次向QB2项目资本出资的时间安排；COVID-19相关事项的会计处理；以及本文件中出现的所有指南，包括但不限于“指南”标题下的生产、销售、成本、单位成本、资本支出、成本削减和其他指南，并在各业务部门章节中讨论。

这些报表是基于assumptions, including, but not limited to, assumptions regarding general business and economic conditions, interest rates, commodity and power prices, acts of foreign or domestic governments and the outcome of legal proceedings, the supply and demand for, deliveries of, and the level and volatility of prices of copper, coal, zinc and blended bitumen and our other metals and minerals, as well as oil, natural gas and other petroleum products, the timing of the receipt of regulatory and governmental approvals for our development projects and other operations, including mine extensions; positive results from the studies on our expansion and development projects; our ability to secure adequate transportation, including rail, pipeline and port service, for our products our costs of production and our production and productivity levels, as well as those of our competitors, continuing availability of water and power resources for our operations, our ability to secure adequate transportation, pipeline and port services for our products; changes in credit market conditions and conditions in financial markets generally, the availability of funding to refinance our borrowings as they become due or to finance our development projects on reasonable terms; our ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; the availability of qualified employees and contractors for our operations, including our new developments and our ability to attract and retain skilled employees; the satisfactory negotiation of collective agreements with unionized employees; 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, of operations; 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; 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. Benefits of RACE21™ depend on, among other matters, process and technology improvements being realized, as well as production rates, sales, commodity prices and exchange rates.

此外，有关麋鹿谷水质计划的假设包括附加处理将在规模上有效、技术和设施按预期运行的假设，以及标题下讨论的附加假设。”亚搏体育官方网站appElk Valley Water Management Update”. 关于QB2的假设包括当前项目假设和关于最终可行性研究的假设，CLP/USD汇率为775，对各承包商没有重大和负面影响，与COVID-19相关的QB2项目的供应商和分包商，或在施工活动暂停期或增加期内损害其提供预期货物和服务能力的其他供应商和分包商。我们的指导表包括脚注和与我们的指导有关的进一步假设。关于海王星散货码头扩建效益的假设包括相关项目按照当前预期建造和运营的假设。关于我方信贷安排和项目融资安排可用性的声明是基于这样的假设，即我方将能够在借款请求时满足借款条件，并且贷款不会因违约事件而终止或加速。有关Fort Hills未来生产成本或产量的声明基于管理层关于运营事项的众亚博首页官网多假设，以及交易对手履行其合同义务、运营和资本计划不会因机械故障等问题而中断的假设，零件和供应品不可用、劳工骚乱、运输或公用事业中断、恶劣天气条件、能源或供应品成本没有重大意外变化，并可能受到石油需求减少和低油价的进一步影响。上述假设并非详尽无遗。事件或情况可能导致实际结果发生重大变化。

可能导致实际结果发生重大变化的因素包括但不限于商品和电力价格的变化、我方产品市场需求的变化、利率和货币汇率的变化、政府行为和法律诉讼的结果，不准确的地质和冶金假设（包括有关矿产储量和资源的规模、品位和可采性），意外的操作困难（包括工厂、设备或工艺未能按照规范或预期运行，成本上升，材料和设备不可用、政府行动或延迟收到政府批准、工业干扰或其他工作行动、恶劣天气条件和与健康、安全和环境事项有关的意外事件）、工会劳资纠纷、COVID-19缓解协议的影响、政治风险、社会风险动乱、客户或交易对手（包括物流供应商）未能履行其合同义务、我方信用评级的变化、建设我方开发项目的成本意外增加、获得许可证的困难、无法解决环境影响评估许可证的问题，以及总体经济状况的变化或进一步恶化。某些业务和项目不受我们的控制；计划和成本可能由我们的合作伙伴调整，并且业务或项目的支出和运营时间不受我们的控制。与麋鹿谷水处理工作相关的当前和新技术可能不会如预期的那样发挥作用，持续监测可能会发现意外的环境条件，需要采取额外的补救措施。更新后的QB2资本成本估算和首次生产的时间安排将受到COVID-19升级的影响。红狗生产也可能受到现场水位的影响。与Westshore达成具有约束力的协议，除其他事项外，取决于Westshore是否接受最终条款。亚博首页官网

本新闻稿中的前瞻性陈述和实际结果也将受到COVID-19效应和相关事项的影响。COVID-19相关事项对我们的业务、运营和项目的总体影响将取决于我们的网站安全恢复和维持正常运营的速度，以及对我们产品的供应商、客户和市场的影亚博首页官网响持续时间，目前所有这些都是未知的。恢复正常的业务活动在很大程度上取决于大流行的进展以及为防止传播而采取的措施是否成功，这将影响卫生和政府当局何时取消对业务活动的各种限制。

除证券法要求外，我们没有义务更新前瞻性声明。有关这些前瞻性声明和我们业务相关的风险和不确定性的更多信息，请参阅我们在SEDAR上提交的截至2019年12月31日的年度信息表(www.sedar.com)还有埃德加(www.sec.gov)在表格40-F的封面下，以及随后的文件，也可以在我们的简介下找到。

Robin Gold P.Eng.审查、批准并验证了本季度报告中有关我公司煤炭性质的科学技术信息，但不包括“麋鹿谷水管理更新”下的讨论。，泰克煤炭有限公司的雇员和国家文书43-101规定的合格人员。本季度报告中关于我们其他财产的科学和技术信息由Teck的员工Rodrigo Alves Marinho，P.Geo.审查、批准和验证，该人员是国家文书43-101中规定的合格人员。