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.

• Provides low-risk, high-quality, diversified exposure and growth optionality for investors.

• Partners with mining companies to unlock value from future precious metals production, offering non-dilutive funding and improved project IRR.

• Promotes responsible mining and supports community development through investment programs.

Asset portfolio and growth outlook

• Holds a diversified global portfolio with 18 operating mines and 27 development projects, focusing on low political risk jurisdictions.

• 93% of current production comes from high-margin mines in the lowest half of their cost curves, with a 28-year proven and probable reserve mine life.

• Forecasts approximately 40% production growth by 2028, targeting over 800,000 gold equivalent ounces (GEOs) annually, with long-term stability above 850,000 GEOs.

• Over 80% of five-year growth is de-risked, coming from operating, permitted, or in-construction assets.

Financial performance and capital management

• Maintains a strong balance sheet with $306 million in cash and $2 billion in available credit as of March 31, 2024.

• Cash flow is highly sensitive to commodity prices, with a 50% price increase resulting in a 65% cash flow increase.

• Recouped over 100% of initial upfront investments since inception, with $10.4 billion invested and $10.5 billion in cash flow generated to date.

• Progressive dividend policy, with $2.1 billion declared in dividends and an industry-leading 26% of 2023 revenues returned to shareholders.