THIRD QUARTER 2022 FINANCIAL RESULTS

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VANCOUVER, BC, Nov. 3, 2022 /CNW/ - "At Wheaton, we focus on building a sustainable company that provides investors with profitable, long-term exposure to precious metals. While inflationary pressures have impacted all sectors of the economy, especially mining, Wheaton has maintained cash operating margins of over 75% year to date, highlighting the strength of our streaming business model," said Randy Smallwood, President and Chief Executive Officer of Wheaton Precious Metals. "Despite some recent challenges, we are pleased with the improvements we have seen over the third quarter in our diverse portfolio of high-quality assets, which is forecast to deliver significant organic growth over the next five years and sustained precious metals production for decades to come. We also are very optimistic that we can continue to add accretive new streams to the portfolio given the number of opportunities that we are currently reviewing coupled with one of the strongest balance sheets in the sector."

Solid Financial Results and Strong Balance Sheet

$219 million in revenue and $154 million in operating cash flow in the quarter
$197 million in net earnings and $94 million in adjusted net earnings1 in the quarter
A cash balance of $495 million and no debt as at September 30, 2022
Extended the maturity date of the undrawn US$2 billion revolving credit facility to July 18, 2027
Declared a quarterly dividend1 of $0.15 per common share
High Quality Asset Base

Streaming agreements on 21 operating mines and 13 development projects
85% of attributable production from assets in the lowest half of their respective cost curves2
29 years of mine life based on Proven and Probable Mineral Reserves and potential additional mine life from mineral resource conversion and exploration3

Average annual production for the ten-year period ending December 31, 2031, is expected to be approximately 850,000 GEOs2,4
Completed the previously disclosed termination of the Keno Hill precious metal purchase agreement ("PMPA") for $141 million, resulting in an impairment reversal of $10 million and a gain on disposition of $104 million
Announced the proposed termination of the Yauliyacu PMPA for $150 million, less the aggregate value of any deliveries to Wheaton of silver produced in 2022 prior to closing
Leadership in Sustainability

Top Rankings: #1 out of 119 precious metals companies and Global Top 50 out of over 14,900 multi-sector companies by Sustainalytics, AA rated by MSCI, and Prime rated by ISS
Commitment to Net-Zero Carbon Emissions by 2050 supported by interim targets covering all material emissions including Scope 3
Established a sustainability linked element in connection with the extension of the revolving credit facility
Recognized as one of the Best 50 Corporate Citizens in Canada by Corporate Knights
Recognized by ESG Investing for Best Climate Related Reporting (Mid Cap)
Supported flood relief to local communities near the Stillwater mine in Montana
Presenting sponsor of BC Cancer Foundation's Tour de Cure supporting cancer research
Operational Overview

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