SECOND QUARTER 2022 FINANCIAL RESULTS

VANCOUVER, BC, Aug. 11, 2022 /CNW/ - "Throughout the first half of 2022, we have focused on optimizing our portfolio and further enhancing our financial flexibility in order to ensure that we are well positioned to respond to accretive growth opportunities and continue creating value for our shareholders," said Randy Smallwood, President and Chief Executive Officer of Wheaton Precious Metals. "While not without its challenges, our diverse portfolio once again delivered strong operating cash flow and an attractive dividend yield, highlighting the resiliency of the streaming model to the inflationary pressures currently being felt across the global economy. Furthermore, we are pleased with our continued progress and leadership on sustainability initiatives as highlighted in our third annual Sustainability Report."

Second Quarter 2022 Highlights:

Over $300 million in revenue and $206 million in operating cash flow, resulting in a cash balance of $449 million and no debt as at June 30, 2022.
$149 million in adjusted net earnings1.
Announced the proposed termination of the Keno Hill precious metal purchase agreement ("PMPA") for $135 million.
Subsequent to the quarter, Wheaton added a sustainability-linked element in connection with the extension to its existing undrawn US$2 billion revolving credit facility.
Recognized as one of the Best 50 Corporate Citizens in Canada by Corporate Knights.
Declared quarterly dividend1 of $0.15 per common share, consistent with the comparable period in 2021.
Operational Overview

(all figures in US dollars unless otherwise noted)

Q2 2022 Q2 2021 Change YTD 2022 YTD 2021 Change Units produced
Gold ounces 68,365 90,072 (24.1) % 146,419 168,601 (13.2) %

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And Dividend.
VANCOUVER, BC, Aug. 11, 2022 /CNW/ - Wheaton Precious Metals™ Corp. ("Wheaton" or the "Company") is pleased to announce that its Board of Directors has declared its third quarterly cash dividend payment for 2022 of US$0.15 per common share.

Third Quarterly Dividend

The third quarterly cash dividend for 2022 of US$0.15 will be paid to holders of record of Wheaton common shares as of the close of business on August 26, 2022 and will be distributed on or about September 8, 2022. The ex-dividend trading date is September 7, 2022.

Under the Company's revised dividend policy, for the 2022 calendar year, the quarterly dividend per common share is targeted to equal the greater of 30% of the average cash generated by operating activities in the previous four quarters divided by the Company's then outstanding common shares, all rounded to the nearest cent and the dividend declared in the prior quarter. To minimize volatility in quarterly dividends, the Company has set a minimum quarterly dividend for the duration of 2022 equal to the dividend per common share declared in the prior quarter.

The declaration, timing, amount and payment of future dividends remain at the discretion of the Board of Directors. This dividend qualifies as an 'eligible dividend' for Canadian income tax purposes.

Dividend Reinvestment Plan

The Company has previously implemented a Dividend Reinvestment Plan ("DRIP"). Participation in the DRIP is optional. For the purposes of this quarterly dividend, the Company has elected to issue common shares under the DRIP through treasury at a 1% discount to the Average Market Price, as defined in the DRIP. However, the Company may, from time to time, in its discretion, change or eliminate the discount applicable to Treasury Acquisitions, as defined in the DRIP, or direct that such common shares be purchased in Market Acquisitions, as defined in the DRIP, at the prevailing market price, any of which would be publicly announced.

The DRIP and enrollment forms, including direct deposit, are available for download on the Company's website at www.wheatonpm.com, in the 'investors' section under the 'dividends' tab.

Registered shareholders may also enroll in the DRIP online through the plan agent's self-service web portal at: https://tsxtrust.com/DRIP

Beneficial shareholders should contact their financial intermediary to arrange enrollment. All shareholders considering enrollment in the DRIP should carefully review the terms of the DRIP and consult with their advisors as to the implications of enrollment in the DRIP.

This press release is not an offer to sell or a solicitation of an offer of securities. A registration statement relating to the DRIP has been filed with the U.S. Securities and Exchange Commission and may be obtained under the Company's profile on the U.S. Securities and Exchange Commission's website at http://www.sec.gov. A written copy of the prospectus included in the registration statement may be obtained by contacting the Corporate Secretary of the Company at 1021 West Hastings Street, Suite 3500, Vancouver, British Columbia, Canada V6E 0C3.