Key details of the merger✅

▪️Shareholders of Anglo American will own about 62 percent of the new group, while Teck shareholders will hold 38 percent
▪️Annual cost savings are expected to reach $800 million by the fourth year, with a further $1.4 billion in additional EBITDA forecast through optimisation of copper operations
▪️Anglo Teck will have more than 70 percent of its portfolio weighted to copper, with additional production from iron ore, zinc and other critical minerals
▪️The new company will be headquartered in Canada and listed in London, Toronto, Johannesburg and potentially New York
▪️Leadership will be shared, with Anglo’s Duncan Wanblad as CEO and Teck’s Jonathan Price serving as Deputy CEO

➡️Shares of both companies rallied on the announcement, with Anglo American rising more than 7 percent and Teck gaining close to 22 percent.

➡️This merger cements Anglo Teck as one of the world’s largest copper players, positioned to benefit directly from the global drive toward electrification and energy transition.