Teck Resources Limited has commenced the exchange process for its court-approved merger with Anglo American plc by mailing a letter of transmittal to registered shareholders. The document outlines the procedures for holders of Class A common shares and Class B subordinate voting shares to exchange their securities for consideration in the merger of equals. The transaction is governed by a plan of arrangement under section 192 of the Canada Business Corporations Act.

Under the terms of the merger, each Teck share will be exchanged for 1.3301 ordinary shares of Anglo American. Eligible Canadian shareholders may elect to receive exchangeable shares of Anglo Teck Exchangeco Limited instead of ordinary shares. The election window is currently open, allowing registered shareholders to begin depositing their completed letters of transmittal with Computershare Investor Services Inc., the designated depositary.

The settlement pathway varies depending on the shareholder's registration status. The table below summarizes the default procedures for each category:

The Election Deadline has not yet been determined, but Teck expects to announce it at least seven business days prior to the deadline. Shareholders who fail to make a valid election or deposit their documents by the deadline will receive Anglo Shares by default. Registered shareholders who do not complete the process will not be entitled to vote or receive dividends on Anglo Shares until the exchange is finalized. If the letter of transmittal is not properly executed within three years of the merger closing, the right to consideration will terminate and be forfeited.

Shareholders should be aware that under current UK law, a stamp duty or stamp duty reserve tax of 1.5% may apply if Anglo Shares are transferred into a clearance service or to the depositary bank for the ADR facility after issuance. Registered shareholders intending to hold Anglo Shares through CDS or as ADRs are advised to transfer their Teck Shares into the respective system prior to the merger's completion to mitigate potential tax liabilities.

Teck’s management proxy circular dated November 3, 2025, and the form of letter of transmittal are available on SEDAR+, EDGAR, and the company’s website. The completion of the merger remains subject to regulatory approvals and satisfaction of other conditions precedent.

Teck Resources Limited has appointed Edwin Shadeo as Acting Vice President, Investor Relations and Treasurer, effective immediately. The leadership change comes as Emma Chapman departs to pursue new professional opportunities. Shadeo steps into the dual role with a mandate to lead shareholder engagement, leveraging his established relationships within the capital markets community.

President and CEO Jonathan Price highlighted Shadeo's qualifications, noting his deep understanding of the business and long-standing experience in investor relations. Price also expressed gratitude to Chapman for her leadership and contributions during her tenure as Vice President, Investor Relations.

Shadeo joined Teck in 2005 as a Strategic Analyst in Business Development, Coal. Since then, he has held progressively senior roles across Investor Relations, Corporate Development, the Office of the President and CEO, and Treasury. His career trajectory within the company positions him to integrate financial strategy with external communications effectively.

In terms of credentials, Shadeo holds a Bachelor of Commerce from the University of British Columbia. He also holds the Chartered Alternative Investment Analyst (CAIA) and Certified Treasury Professional (CTP) designations, underscoring his technical expertise in financial analysis and treasury management.

Key Appointments

Teck Resources Limited is a Canadian resource company focused on copper and zinc operations across North and South America. Its shares are listed on the Toronto Stock Exchange under the symbols TECK.A and TECK.B and on the New York Stock Exchange under the symbol TECK.