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 industry-leading returns, marked by a 2024 annual dividend increase and $2.3 billion declared since inception.

• Strong focus on responsible mining, ESG leadership, and community investment aligned with UN Sustainable Development Goals.

Portfolio, growth, and financial strength

• Portfolio includes 18 operating mines and 29 development projects across the Americas, Africa, and Europe, with cornerstone assets in Brazil, Peru, Mexico, Canada, and South Africa.

• Forecasts over 50% production growth by 2028, targeting over 800,000 gold equivalent ounces (GEOs) annually, and averaging 850,000 GEOs from 2029–2033.

• $900 million committed to new investments in 2024, with $694 million in cash and $2 billion in undrawn credit as of September 30, 2024.

• 28 years of mine life based on proven and probable reserves, with significant exploration and expansion upside.

• Cash flow sensitivity shows a 50% increase in commodity prices could result in a 60% increase in cash flows, with annual cash flows projected to exceed $1.4 billion at current prices.

Streaming model and partner benefits

• Streaming agreements offer non-dilutive funding, improved project IRR, and expedited due diligence, with no fixed payments for mining partners.

• Market values precious metals in streaming portfolios higher than traditional mining or developer models, enhancing IRRs and initial value creation.

• Streaming capital is utilized by a diverse range of mining companies globally.