Wheaton Precious Metals (WPM) Investor presentation summary

Strategic vision and business model

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

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

• Unlocks value for mining partners by monetizing future precious metals production.

• Promotes responsible mining and supports local communities.

Streaming model and portfolio strength

• 93% of current production comes from high-margin mines in the lowest half of their cost curves.

• Portfolio includes 18 operating mines and 27 development projects, diversified across low political risk jurisdictions.

• 28 years of proven and probable reserve mine life underpin long-term stability.

• Over $1 billion committed to new investments in 2023, with a strong balance sheet and $2 billion in available credit.

Growth outlook and production guidance

• Forecasts ~40% organic production growth by 2028, targeting over 800,000 gold equivalent ounces (GEOs) annually.

• 2024 production guidance is 550,000–620,000 GEOs, with H1 2024 tracking on target.

• Growth driven by cornerstone assets (Salobo, Antamina, Peñasquito, Blackwater, Platreef) and new development projects.

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