Triple Flag Precious Metals Corp. · TSX:TFPM
Triple Flag Precious Metals — Q1 2022 Earnings Presentation
20 slides from Triple Flag Precious Metals's earnings presentation, May 11, 2022
Slide 1: Growing a Major Precious Metals Streaming and Royalty Company
GROWING A MAJOR PRECIOUS METALS STREAMING AND ROYALTY COMPANY May 11, 2022 Q1 2022 Results Presentation TSX:TFPM (C$) | TSX:TFPM.U (US$)
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 Forward-Looking Information This presentation contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forw
Slide 3: Presenters
Q1 2022 RESULTS PRESENTERS Shaun Usmar Sheldon Vanderkooy James Dendle Katy Board Eban Bari CEO and Director CFO VP, Evaluations and IR VP, Talent and ESG VP, Finance TSX:TFPM (C$) | TSX:TFPM.U (US$) Shaun Usmar, CEO and Director 3
Slide 4: Triple Flag Q1 2022 Highlights
Q1 2022 RESULTS TRIPLE FLAG Q1 2022 Highlights Solid Financial Results Continued organic growth in GEOs 1 Disciplined, high-quality transactions Prieska, Sofia, Beaufor Competitive dividend yield Quarterly dividend of US$0.0475 per common share Sustainability Leadership C$100,000 hum
Slide 5: Gold Equivalent Ounces (koz)
Q1 2022 RESULTS Q1 2022 GEOs GEOs (koz) 19.7 20.1 GEOs sales consistent, up 2% over Q1 2021 1 Gold stream volumes increased 29% from 4.6 to 5.9 koz Gold royalty GEOs increased 1% from 4.3 to 4.4 koz Gold Equivalent Ounces (koz) 1 Silver stream volumes decreased 8% from 709 to 655 koz Ag Other
Slide 6: Consistent High Margins
Q1 2022 RESULTS CONSISTENT HIGH MARGINS Inflation resistant business with 92% asset margin realized in Q1 2022 Margin 1 Cash Cost/GEO and Asset Margin/GEO (US$/oz) (US$/GEO) $1,909 $1,874 $1,877 << Average Gold Price $1,794 $1,816 $1,790 $1,795 $1,711 High margin business with no $1,751 $1,720 $1,64
Slide 7: Q1 2022 Financials
Q1 2022 RESULTS Q1 2022 FINANCIALS Strong financial results from diversified portfolio $ thousands, except GEOs, per share metrics, asset margin and cash costs per GEO Q1 2022 Q1 2021 YoY % Revenue up 7% over Q1 2021 Gold Equivalent Ounces (GEOs) 1,2 20,113 19,714 2% Adjusted Net Earnings up Revenue
Slide 8: Pure Play Precious Metals
Q1 2022 RESULTS PURE PLAY PRECIOUS METALS High-quality diversification with low risk Asset Commodity Geography Q1 2022 Revenue Q1 2022 Revenue Q1 2022 Revenue Cornerstone assets with 93% Precious 87% Australia diversified Metals and Americas production Cerro Lindo 33% Gold 51% Australia 35% Northpar
Slide 9: Available Capital
Q1 2022 RESULTS AVAILABLE CAPITAL Robust liquidity position and debt free balance sheet $58M $600M $658M Cash and Cash Available Capital Equivalents 1 Credit Facility 2 1) US$58M of cash and cash equivalents as at March 31, 2022 2) US$500M undrawn credit facility plus US$100M accordion Northparkes T
Slide 10: Long-Term Embedded Growth
Q1 2022 RESULTS LONG-TERM EMBEDDED GROWTH And robust 2022E YoY growth 5-Year Average 2 10-Year Average 2 60% Gold 110 koz GEOs 105 koz GEOs 30% Silver 2022E 10% Other Gold Equivalent Ounces (koz) 1 2023E – 2027E 2023E – 2032E Guidance 90 to 95 koz 84 Northparkes Northparkes Cerro Lindo Cerro Lindo R
Slide 11: Prieska Growth
Q1 2022 RESULTS PRIESKA GROWTH Proposed precious metals stream and royalty on Prieska Proposed Non-binding Stream Terms • Stream Rate: 84% of Payable Gold and Payable Silver 1 • Ongoing Payment: 10% of spot gold and silver price • Fixed Ratios to copper production – Payable Gold = 0.359 ounces per t
Slide 12: Prieska Growth
Q1 2022 RESULTS PRIESKA GROWTH Proposed precious metals stream and royalty on Prieska • Non-binding term sheet for precious metals stream and royalty 1 – Prieska copper-zinc project; owned by Orion Minerals (ASX- and JSE-listed) • 84% Gold and Silver Stream for US$80M – Subject to satisfaction of up
Slide 13: Asset Highlights
Q1 2022 RESULTS ASSET HIGHLIGHTS Portfolio performing well with numerous catalysts Northparkes RBPlat Fosterville E26L1N block cave Tonnes hoisted up 11% Production of 127 koz on achieved production in Q1 over Q1 2021 as Styldrift higher-than-expected 2022, five months ahead nears nameplate capacity
Slide 14: Sustainability
Q1 2022 RESULTS SUSTAINABILITY Superior ESG practices are core • ESG due diligence is foundational • C$100k donation to support Ukrainian humanitarian relief • Climate commitment and performance – Carbon neutral since inception offsetting a total of 24,597 t of CO2e 1 • Goal to continue to be leader
Slide 15: Emerging Senior Streamer
Q1 2022 RESULTS EMERGING SENIOR STREAMER Pure play, precious metals streaming and royalty company 80 Assets US$2.1B US$124M Streams and Royalties Market Cap 1 LTM Adjusted EBITDA Solid Q1 financials Competitive dividend yield High-quality assets Robust balance sheet Organic growth Disciplined acquis
Slide 16: Summary
Q1 2022 RESULTS Q1 2022 SUMMARY Strong Q1 revenue, earnings and cash flow Disciplined, high-quality transactions Two new royalties acquired – Sofia and Beaufor Proposed Prieska royalty and byproduct precious metals stream providing high value growth On track for 2022 guidance delivery Co
Slide 17: Q&A
RBPlat Styldrift Mine Q&A TSX:TFPM (C$) | TSX:TFPM.U (US$) 17
Slide 18: Appendix
Buritica Appendix TSX:TFPM (C$) | TSX:TFPM.U (US$) 18
Slide 19: Non-IFRS Measures
APPENDIX NON-IFRS MEASURES Gold Equivalent Ounces (“GEOs”) GEOs are a non-IFRS measure and are based on stream and royalty interests and are calculated on a quarterly basis by dividing all revenue from such interests for the quarter by the average gold price during such quarter. The gold price is de
Slide 20: Reconciliation to IFRS Measures
APPENDIX RECONCILIATION TO IFRS MEASURES Gold Equivalent Ounces (“GEOs”) Free Cash Flow Three months ended Twelve months ended March 31 March 31 Twelve months ($ thousands) 2022 2021 2022 ($ thousands, except average ended March Operating cash flow $26,359 $28,809 $117,565 gold price and GEOs inform
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