Triple Flag Precious Metals (TFPM) Investor presentation summary

Value creation and growth

• Achieved a $5.9B market cap with 242 assets, including 36 producing streams and royalties, and a strong focus on Australia and the Americas.

• Projected 50% growth in gold equivalent ounces (GEOs) by 2030, with guidance of 100-110 koz in 2026 and 150-160 koz in 2030.

• Dividend has grown 5% annually since IPO, supported by an active share buyback program and over $1B in available liquidity.

• Management and board have significant insider ownership (~$110M), ensuring alignment with shareholders.

Financial performance and capital allocation

• Operating cash flow reached $360M (LTM), with $265M returned to shareholders via dividends and buybacks since IPO.

• NAV per share and cash flow per share have shown consistent growth since IPO, with analyst consensus NAVPS rising from $10.70 in 2022 to $24.26 in 2025.

• Capital base of $1.9B drives robust cash flow yield and NAV accretion.

Portfolio and asset diversification

• Portfolio includes 242 assets: 36 producing, 50 in development, and 156 in exploration or other stages.

• 92% of consensus NAV is from precious metals, with 81% exposure to gold and copper, and 78% of assets in the Americas and Australia.

• Recent $900M capital deployed since 2025 added high-quality assets, including major investments in Ravenswood, Northparkes, and Arthur.