Triple Flag Precious Metals (TFPM) investor relations material

Portfolio developments and asset growth

• Northparkes saw approval of E22, progress at E48 Sublevel Cave, and an ongoing expansion study, indicating significant future growth potential.

• Arthur project in Nevada announced initial reserves, positioning it as a Tier 1 mine.

• Hope Bay received a construction decision, with production targeted for 2030 at 400,000–450,000 ounces annually for at least 11 years, and strong exploration potential.

• Koné achieved its first gold pour, and Ravenswood Gold stream was acquired, marking $550 million deployed into new deals in Australia and the US.

• Ravenswood is ramping up to a 200,000 ounce/year producer, with a large area of interest and long-term value expected.

Capital allocation and financial strategy

• Annual cash flow is about $400 million, with 10% allocated to dividends, which have increased yearly since IPO.

• $265 million has been returned to shareholders, and $900 million deployed since January 2025.

• Share buybacks have become more active, driven by portfolio growth and positive developments.

• The competitive environment remains stable, with pricing based on consensus gold prices and a focus on disciplined underwriting.

Forward-looking guidance and portfolio optionality

• 2030 guidance targets 150,000–160,000 gold equivalent ounces, with sequential growth expected as new assets come online.

• Hope Bay and E44 are expected to contribute significantly post-2030, supporting higher future guidance.

• Koné and Ravenswood will drive production growth, with a full year of Ravenswood expected in 2027.

• Tamarack (nickel-copper, Minnesota) and Polo Sur (copper, Chile) are highlighted as underappreciated assets with strong potential.