Triple Flag Precious Metals Corp. · TSX:TFPM
Triple Flag Precious Metals — Investor Presentation (June 2024)
32 slides from Triple Flag Precious Metals's investor presentation, June 2024
Slide 1: Corporate Presentation June 2024
CORPORATE PRESENTATION June 2024 June 2024 TSX:TFPM | NYSE:TFPM
Slide 2: Cautionary Statements
CAUTIONARY STATEMENTS This presentation does not constitute an offer to sell or a solicitation of an offer to purchase any security in any jurisdiction Cautionary Note Regarding Forward-Looking Information and Statements: This presentation contains “forward-looking information” within the meaning of
Slide 3: Triple Flag Overview
OVERVIEW TRIPLE FLAG OVERVIEW Track record, continued organic growth and firepower to grow value Leading Sustainability $3.1B 105-115 koz +140 koz Ratings 2024E GEOs 5 Year Average Outlook 2 Market Cap 1 Guidance 2 (2025E – 2029E) Leading Insider 234 Assets $0.21/sh ~$670M Ownership and Alignment 32
Slide 4: Summary: Proven Business Model
OVERVIEW SUMMARY PROVEN BUSINESS MODEL Free Cash Flow Generation No capital expenditure exposure Diversification Large portfolio diversified by jurisdiction, operator, underlying commodity Providing investors high- Optionality upside, low-risk exposure Price leverage, new discoveries, reserve replac
Slide 5: Strong Cash Flow
OVERVIEW STRONG CASH FLOW Operating Cash Flow Free Cash Flow 1 Net Earnings and Gross Profit Margin and (US$M) (US$M) Adjusted EBITDA 2 Asset Margin 3 (US$M) (% of revenue) $154 $154 $159 92% 91% 91% 90% 89% 87% 91% $123 $119 $120 $118 $120 $118 $96 55% 57% $84 $84 50% $56 $55 44% $48 $46 $32 $34 $3
Slide 6: Our Approach
OVERVIEW OUR APPROACH What sets Triple Flag apart Disciplined Growth Shareholders First Culture Committed to sustainably growing value per We are shareholders and owners first and Analysis-intensive, adaptable, inclusive share through patient investments foremost transparent engagement model Strong
Slide 7: Asset Portfolio
Asset Portfolio TSX:TFPM | NYSE:TFPM 7
Slide 8: Portfolio Overview
8ASSET PORTFOLIO PORTFOLIO OVERVIEW Diversified portfolio of streams and royalties in top-tier jurisdictions 234 TOTAL ASSETS 32 PRODUCING 41 DEVELOPMENT 161 EXPLORATION / OTHER Asset count as of April 1, 2024 TSX:TFPM | NYSE:TFPM 8
Slide 9: Pure Play Precious Metals
ASSET PORTFOLIO PURE PLAY PRECIOUS METALS High-quality diversification Asset Commodity Geography Consensus NAV Consensus NAV Consensus NAV Cornerstone assets with diversified 94% Precious 79% Americas production and Metals and Australia development Northparkes 25% Gold 74% Australia 32% Impala Bafok
Slide 10: Diversified Production
ASSET PORTFOLIO DIVERSIFIED PRODUCTION Northparkes Cerro Lindo Impala Bafokeng Fosterville Young-Davidson Buritica Australia Peru South Africa Australia Canada Colombia Au/Ag Stream Cu Mine Ag Stream Zn/Pb/Cu Mine Au Stream PGM Mine Au Royalty Au Mine Au Royalty Au Mine Ag Stream Au Mine Beta Hunt C
Slide 11: Leading Operators and Partnerships
ASSET PORTFOLIO LEADING OPERATORS AND PARTNERSHIPS Long-term partnership approach focused on synergistic deals Leveraging our mining backgrounds with deep experience and global networks across the industry TSX:TFPM | NYSE:TFPM 11
Slide 12: Growth and Track Record
Growth and Track Record TSX:TFPM | NYSE:TFPM 12
Slide 13: Growth and Track Record
GROWTH AND TRACK RECORD GROWTH AND TRACK RECORD Consistent track record of GEOs growth since 2017 +140 GEOs koz 105-115 GEOs koz 105 Gold Equivalent Ounces (koz) 84 85 100+ Assets in Various Stages of 63 Development 42 33 34 2017A 2018A 2019A 2020A 2021A 2022A 2023A 2024E 2024E 5 Year Avg 5 Year Gro
Slide 14: Growth Pipeline
GROWTH AND TRACK RECORD GROWTH PIPELINE Robust growth profile from expansions, development projects, and long-term exploration Northparkes Mining of high gold grade E31 and E22 deposits Beta Hunt Increasing mining capacity to 2 Mtpa by the end of 2024 EXPANSIONS FROM EXISTING PRODUCING ASSETS ATO Ph
Slide 15: Growth Pipeline
GROWTH AND TRACK RECORD GROWTH PIPELINE Selected development and exploration assets PRIMARY TIMELINE TO PRODUCTION TIMELINE TO PRODUCTION ASSET OPERATOR METAL 2025 - 2030 2030+ Hope Bay Gold 1.0% NSR Eskay Creek Gold 0.5% NSR Kone Gold 2.0% NSR Tamarack Nickel, Copper, 1.85% NSR Cobalt Hope Bay Gold
Slide 16: Delivering Sector Leading Profile
GROWTH AND TRACK RECORD DELIVERING SECTOR LEADING PROFILE Track record of GEOs growth and disciplined capital deployment Indexed GEOs 1,2 Capital Deployment Since 2017 3 US$B 4.50 4 4.00 3.50 Peer 1 3.00 Peer 2 2.50 Peer 5 5 Peer 4 5 Peer 3 2.00 1.50 Peer 4 Peer 1 5 1.00 Peer 2 5 Peer 3 6 Peer 5 0.5
Slide 17: Robust Value Creation
GROWTH AND TRACK RECORD ROBUST VALUE CREATION High return on cornerstone producing assets All figures in US$M Investment $550 Investment $250 Northparkes Cerro Lindo 2020 Investment 2016 Investment Return $95 $614 $709 Return $267 $171 $438 Cash Flow Cash Flow to Q1/24 Analyst NAV Analyst NAV to Q1/
Slide 18: Northparkes Cornerstone Asset
Northparkes Cornerstone Asset TSX:TFPM | NYSE:TFPM 18
Slide 19: Northparkes
CORNERSTONE ASSET NORTHPARKES Multi-decade asset with multiple large-scale porphyry copper and gold deposits Established long-life copper-gold open pit and underground mine In December 2023, Evolution Mining acquired an 80% interest in Northparkes Positioned in Evolution’s backyard in NSW and
Slide 20: Northparkes
CORNERSTONE ASSET NORTHPARKES 54% gold and 80% silver stream Milled Head Grades 0.28 Gold (g/t) 0.28 2024 gold grades benefiting from E31 open pits 0.17 Northparkes delivered 0.16 6.3 koz GEOs in Q1 0.13 2021 2022 2023 Q1 2024 TSX:TFPM | NYSE:TFPM 20
Slide 21: Northparkes
CORNERSTONE ASSET NORTHPARKES Decades of mineral deposits and an entire mineral field to continue to explore Stream Area: 1,060 km2 Mining Licences: 26 km2 Significant exploration potential on 1,060 km2 land position Under-explored with limited drilling below 100 metres on the mining licenses
Slide 22: Sustainability Leadership
Sustainability Leadership TSX:TFPM | NYSE:TFPM 22
Slide 23: Sustainability
SUSTAINABILITY LEADERSHIP SUSTAINABILITY Long-term success of our organization, the mining industry and host communities Inaugural MSCI ESG Rating of AA Amongst the leaders in the gold sector Risk Rating of 8.9 from Sustainalytics 1 Ranked 3rd of 117 companies in the global precious metals s
Slide 24: Top Sustainability Rankings
SUSTAINABILITY LEADERSHIP TOP SUSTAINABILITY RANKINGS Contributing to a responsible and sustainable mining sector Copyright ©2023 Sustainalytics. All rights reserved TSX:TFPM | NYSE:TFPM 24
Slide 25: Summary
Summary TSX:TFPM | NYSE:TFPM 25
Slide 26: Summary
SUMMARY DISCIPLINED AND DIVERSIFIED, QUALITY, ROBUST CASH FLOW AND PRECIOUS METALS PURE PLAY PORTFOLIO EMBEDDED GROWTH FOCUSED FOCUSED ON GROWING MANAGEMENT AND POSITIONED FOR CASH FLOW AND ASSET SHAREHOLDER PREMIUM VALUATION VALUE PER SHARE ALIGNMENT Eskay Creek TSX:TFPM | NYSE:TFPM 26
Slide 27: Appendix
Appendix TSX:TFPM | NYSE:TFPM 27
Slide 28: Growth Pipeline
APPENDIX GROWTH PIPELINE Selected development and exploration assets ASSET LOCATION OVERVIEW Agnico Eagle is undertaking an extensive exploration program to support a larger production scenario. Exploration drilling in 2023 totalled Hope Bay Nunavut more than 125,000 metres and confirmed the expansi
Slide 29: Leadership Team
APPENDIX LEADERSHIP TEAM Deep experience and networks in senior executive, commercial, sustainability and accounting roles Shaun Usmar Sheldon James Dendle Eban Bari Warren Beil Katy Board John Cash Leshan Daniel Chief Executive Officer Vanderkooy SVP, Corporate VP, Finance General Counsel VP, Talen
Slide 30: Experienced Board
APPENDIX EXPERIENCED BOARD Diverse capabilities with deep mining and investing backgrounds and networks Dawn Whittaker Susan Allen Timothy Baker Geoff Burns Mark Cicirelli Director & Chair Director & Committee Chair 1 Director & Committee Chair 2 Director Director Peter O’Hagan Blake Rhodes Shaun Us
Slide 31: Non-IFRS Measures
APPENDIX NON-IFRS MEASURES Gold Equivalent Ounces (“GEOs”) GEOs are a non-IFRS measure that is based on stream and royalty interests and calculated on a quarterly basis by dividing all revenue from such interests for the quarter by the average gold price during such quarter. The gold price is determ
Slide 32: Reconciliation to IFRS Measures
APPENDIX RECONCILIATION TO IFRS MEASURES Gold Equivalent Ounces (“GEOs”) Adjusted EBITDA Three months ended Three months ended March March 31 ($ thousands, except average gold price and GEOs information) 2024 2023 ($ thousands) 2024 2023 Revenue 57,528 50,269 Net earnings $ 17,424 $ 16,534 Average g
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