SECOND QUARTER FINANCIAL RESULTS

VANCOUVER, BC, Aug. 10, 2023 /CNW/ - "Wheaton delivered solid operational results during the quarter, generating over $200 million of operating cash flow, primarily driven by significant sequential improvement at the recently commissioned expansion at our largest asset, Salobo. Furthermore, we continued to see momentum on the corporate development front with the addition of a new gold stream on Lumina Gold's Cangrejos project and the expansion of our existing gold stream on Artemis Gold's Blackwater project," said Randy Smallwood, President and Chief Executive Officer of Wheaton Precious Metals. "Despite operations at Peñasquito being suspended in early June, we achieved quarter-over-quarter gold equivalent production growth. As such, we are reiterating our 2023 production guidance, which we now expect to have a slightly higher weighting toward gold, highlighting the resilience of our high-quality, diversified portfolio. Lastly, we are proud to have published our 2022 Sustainability Report and inaugural 2022 Climate Change Report, demonstrating our continued commitment to sustainability and focus on delivering value to all of our stakeholders."

Solid Financial Results and Strong Balance Sheet

Second quarter of 2023: $265 million in revenue, $202 million in operating cash flow, $141 million in net earnings and $143 million in adjusted net earnings1
A cash balance of $829 million and no debt as at June 30, 2023, after making total upfront cash payments of $89 million relative to mineral stream interests in the quarter
Undrawn $2 billion revolving credit facility extended by an additional year with the facility now maturing on June 22, 2028
Declared a quarterly dividend1 of $0.15 per common share
High Quality Asset Base

Streaming agreements on 19 operating mines and 13 development projects
93% of attributable production from assets in the lowest half of their respective cost curves2,3
30 years of mine life based on Proven and Probable Mineral Reserves and potential additional mine life from mineral resource conversion and exploration2,4
Accretive portfolio growth:
Acquired a 6.6% gold stream on Lumina Gold Corp.'s ("Lumina") Cangrejos Project ("Cangrejos")
Expanded the gold stream on Artemis Gold Inc.'s Blackwater Project ("Blackwater"). ...

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DIVIDEND DECLARATION

VANCOUVER, BC, Aug. 10, 2023 /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 2023 of US$0.15 per common share.

Third Quarterly Dividend
The third quarterly cash dividend for 2023 of US$0.15 will be paid to holders of record of Wheaton common shares as of the close of business on August 25, 2023, and will be distributed on or about September 7, 2023. The ex-dividend trading date is August 24, 2023.

Under the Company's dividend policy, for the 2023 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 2023 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 the Average Market Price, as defined in the DRIP, without a discount.

The Company may, from time to time, in its discretion, apply, change or eliminate any 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 th, see & read more on https://www.wheatonpm.com/news/pressreleases/News-Releases-Details/2023/Wheaton-Precious-Metals-Declares-Quarterly-Dividend-5128f3a05/default.aspx