Triple Flag Precious Metals Corp. · TSX:TFPM
Triple Flag Precious Metals — Q4 2023 Earnings Presentation
19 slides from Triple Flag Precious Metals's earnings presentation, Feb 22, 2024
Slide 1: Q4 2023 Results Presentation
Q4 2023 RESULTS PRESENTATION February 22, 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: Presenters
2023 RESULTS PRESENTERS Shaun Usmar Sheldon Vanderkooy James Dendle CEO and Director CFO SVP, Corporate Development TSX:TFPM | NYSE:TFPM Shaun Usmar, CEO and Director 3
Slide 4: Triple Flag Q4 and FY2023
2023 RESULTS TRIPLE FLAG Q4 AND FY2023 Record 2023 GEOs and financial results 1 105 koz GEOs in 2023 including 26 koz GEOs in Q4 Delivered within 100 – 115 koz GEOs guidance $154M operating cash flow and $159M Adjusted EBITDA in 2023 Northparkes acquired by Evolution Mining in December 2
Slide 5: 2023 Financials
2023 RESULTS 2023 FINANCIALS Strong and consistent financial results $ thousands, except GEOs, per share metrics, and asset margin 2023 2022 Q4 2023 Q4 2022 Gold Equivalent Ounces (GEOs) 1,2 105,087 84,571 26,243 25,428 Revenue $204,024 $151,885 $51,739 $43,886 Net Earnings $36,282 $55,086 $9,755 $1
Slide 6: Strong Cash Flow
2023 RESULTS STRONG CASH FLOW Operating Cash Flow Free Cash Flow 1 Net Earnings and Gross Profit Margin and (US$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 $3
Slide 7: Pure Play Precious Metals
2023 RESULTS PURE PLAY PRECIOUS METALS High-quality diversification Asset Commodity Geography 2023 Revenue 2023 Revenue 2023 Revenue Diversified 95% Precious 83% Australia revenue Metals and Americas Cerro Lindo 22% Gold 58% Latin America 31% Northparkes 14% Silver 37% Australia 26% ATO 9% Other 5%
Slide 8: Growth and Track Record
2023 RESULTS 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 Growth Growth
Slide 9: 2024E Guidance
2023 RESULTS 2024E GUIDANCE GEOs and additional 2024E guidance 2024E Guidance Gold Equivalent Ounces (GEOs) 1 105-115 koz Depletion $70-80M G&A $23-24M Australian Cash Tax Rate 2 ~25% Figures in US$M unless otherwise noted 1) Our 2024 outlook on stream and royalty interests is based on publicly avai
Slide 10: Northparkes
2023 RESULTS NORTHPARKES Northparkes is positioned in Evolution’s strategic sweet spot Northparkes was acquired by Evolution Mining in December 2023 1 Northparkes is positioned in Evolution’s backyard and in one of Australia’s most prospective gold/copper belts Evolution understands the region
Slide 11: Northparkes
2023 RESULTS NORTHPARKES Evolution is well positioned to continue delivering the successful track record of Northparkes E31N Source: Evolution Mining, 2024 Half Year Financial Results & 2023 Mineral Resource And Ore Reserve Presentation, February 14, 2024 Copper and gold open cut pit TSX:TFPM | NYSE
Slide 12: Northparkes: Evolution's track record at Cowal
2023 RESULTS NORTHPARKES Cowal Evolution Mining Evolution is well positioned to continue delivering the successful track record of Northparkes Evolution’s track record at Cowal Since acquiring the mine in 2015 from Barrick, Evolution has successfully delivered sustainable production, reserve and res
Slide 13: Hope Bay
2023 RESULTS HOPE BAY A world-class gold asset advancing to production in Canada Hope Bay is a gold asset in Nunavut operated by Agnico Eagle Currently hosts three deposits: Doris, Madrid and Boston Agnico Eagle is undertaking an extensive exploration program to support a larger production sce
Slide 14: Hope Bay: Exploration drilling at Madrid in 2023
2023 RESULTS HOPE BAY Exploration drilling at Madrid in 2023 Source: Agnico Eagle, Investor Presentation, January 24, 2024 and Update On 2023 Exploration Results and 2024 Exploration Plans Press Release, February 15, 2024 TSX:TFPM | NYSE:TFPM James Dendle, SVP Corp Dev 14
Slide 15: Triple Flag Overview
2023 RESULTS TRIPLE FLAG OVERVIEW Track record, continued organic growth and firepower to grow value Leading Sustainability $2.5B 105-115 koz +140 koz Ratings 2024E GEOs 5 Year Average Outlook 2 Market Cap 1 Guidance 2 (2025E – 2029E) Leading Insider 235 Assets $0.21/sh +$660M Ownership and Alignmen
Slide 16: Q&A
Buritica Q&A TSX:TFPM | NYSE:TFPM 16
Slide 17: Summary
SUMMARY DISCIPLINED AND DIVERSIFIED, QUALITY, ROBUST CASH FLOW AND PRECIOUS METALS PURE PLAY PORTFOLIO EMBEDDED GROWTH FOCUSED FOCUSED ON GROWING MANAGEMENT AND POSITIONED FOR CASH FLOW AND ASSET SHAREHOLDER PREMIUM VALUATION VALUE PER SHARE ALIGNMENT Eskay Creek TSX:TFPM | NYSE:TFPM 17
Slide 18: Non-IFRS Measures
APPENDIX NON-IFRS MEASURES Gold Equivalent Ounces (“GEOs”) GEOs are a non-IFRS measure that is based on stream and royalty interests and calculated on a quarterly basis by dividing all revenue from such interests for the quarter by the average gold price during such quarter. The gold price is determ
Slide 19: Reconciliation to IFRS Measures
APPENDIX RECONCILIATION TO IFRS MEASURES Gold Equivalent Ounces (“GEOs”) Adjusted EBITDA 2023 Three months ended Year ended ($ thousands, except average gold price Year end December 31 December 31 and GEOs information) Q4 Q3 Q2 Q1 December 31 ($ thousands) 2023 2022 2023 2022 Revenue 51,739 49,425 5
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