China Investment Corporation Sells a Portion of its Shares of Teck Resources Limited; Confirms Support for Strategic Direction of Teck

TORONTO, Sept. 5, 2017 /CNW/ - China Investment Corporation ("CIC") announced that its wholly-owned subsidiary, Fullbloom Investment Corporation ("Fullbloom"), has entered into an agreement to sell 42,000,000 Class B subordinate voting shares ("Class B Shares") of Teck Resources Limited ("Teck"), representing approximately 7.36% of the issued and outstanding Class B Shares, in a secondary sale, on a "bought block trade" basis at a selling price of approximately C$28.97 per share, for aggregate gross proceeds of approximately C$1,216,600,308. The completion of the transaction is expected by September 11, 2017. Following the completion of the transaction, Fullbloom will hold approximately 10.40% of the issued and outstanding Class B Shares representing approximately 4.40% of the aggregate voting rights attaching to the Class A shares and the Class B Shares of Teck. The underwriters for the sale are being led by J.P. Morgan Securities LLC.

The disposition of the Class B Shares was undertaken due to portfolio adjustment. By maintaining a 10.40% interest in the Class B Shares of Teck, CIC remains a long-term shareholder and business partner of Teck and is supportive of Teck's management team and the strategic direction of Teck.

A copy of the amended early warning report to which this press release relates will be filed on www.sedar.com under Teck's issuer profile.

SOURCE China Investment Corporation

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