Wheaton Precious Metals (WPM) Corporate presentation summary

Strategic vision and business model

• Aims to be the premier global precious metals investment vehicle, delivering value through streaming to all stakeholders including shareholders, mining partners, and local communities.

• Streaming model provides low-risk, long-term, diversified exposure and growth optionality, with 93% of production from high-margin, low-cost mines.

• Progressive dividend policy with a 2024 annual dividend increase and industry-leading returns to shareholders.

• Strong ESG focus, with top-tier sustainability ratings and significant community investment.

Portfolio, growth, and financial strength

• Portfolio includes 18 operating mines and 28 development projects, diversified across low political risk jurisdictions.

• Forecasts ~40% production growth by 2028, targeting over 800,000 gold equivalent ounces (GEOs) annually, with over 80% of growth de-risked.

• Maintains a strong balance sheet with $694 million in cash and $2 billion in undrawn credit as of September 2024.

• Cash flow highly leveraged to commodity prices, with a 50% price increase resulting in a 60% cash flow increase.

• Over $10.5 billion invested in streams to date, generating $11 billion in cash flow and $2.3 billion in dividends.

Streaming model and partner benefits

• Streaming agreements offer non-dilutive funding, improved project IRR, and risk-sharing for mining partners.

• Market values precious metals in streaming portfolios higher than traditional mining or developer models.

• Recent investments include major projects such as Koné, Fenix, Blackwater, Platreef, and Mineral Park, supporting future growth.