Triple Flag Precious Metals Corp. · TSX:TFPM
Triple Flag Precious Metals — Q4 2022 Earnings Presentation
19 slides from Triple Flag Precious Metals's earnings presentation, Feb 22, 2023
Slide 1: Growing a Major Precious Metals Streaming and Royalty Company
GROWING A MAJOR PRECIOUS METALS STREAMING AND ROYALTY COMPANY February 22, 2023 2022 Results Presentation 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
2022 RESULTS PRESENTERS Shaun Usmar Sheldon Vanderkooy James Dendle Katy Board Eban Bari CEO and Director CFO SVP, Corporate Development VP, Talent and ESG VP, Finance TSX:TFPM | NYSE:TFPM Shaun Usmar, CEO and Director 3
Slide 4: Triple Flag Q4 and FY 2022 Highlights
2022 RESULTS TRIPLE FLAG Q4 AND FY 2022 Highlights Solid and consistent financial results Record 25 koz GEOs in Q4 2022 1 Record 85 koz GEOs in 2022, 6th annual record 1 Controlled costs and maintained high margins Renewed and extended credit facility Top ESG ratings achieved – Industry
Slide 5: Maverix Update
2022 RESULTS MAVERIX UPDATE Building scale and delivering synergies Solidifies TFPM as the leading gold-focused emerging senior streamer Assets increased from 80 to 229 | producing assets increased from 15 to 29 93% precious metals exposure and 82% in Australia and Americas 1 Enhanced liquid
Slide 6: 2022 Financials
2022 RESULTS 2022 FINANCIALS Strong and consistent financial results $ thousands, except GEOs, per share metrics, asset margin and cash costs per GEO 2022 2021 Q4 2022 Q4 2021 Gold Equivalent Ounces (GEOs) 1,2 84,571 83,602 25,428 20,605 Revenue $151,885 $150,421 $43,886 $36,990 Net Earnings $55,086
Slide 7: Strong Financials
2022 RESULTS STRONG FINANCIALS Operating Cash Flow Free Cash Flow 1 Net Earnings and Gross Profit Margin and (US$M) (US$M) Adjusted EBITDA 2 Asset Margin 3 (US$M) (% of revenue) $120 $118 $120 $118 $123 92% 91% 91% $118 89% 87% 91% $96 $84 $84 57% $56 $55 55% $48 $46 44% $32 $34 $40 $39 $28 21% $27
Slide 8: Consistent High Margins
2022 RESULTS CONSISTENT HIGH MARGINS Inflation resistant business with 91% asset margin realized in Q4 2022 Margin 1 Cash Cost/GEO and Asset Margin/GEO (US$/oz) (US$/GEO) $1,909 $1,874 $1,877 $1,871 $1,794 $1,816 $1,790 $1,795 $1,711 $1,729 $1,726 << Average Gold Price High margin business $1,751 $1
Slide 9: Robust Cash Flow
2022 RESULTS ROBUST CASH FLOW Proven business model providing strong operating cash flow Operating Cash Flow (US$M) $37 $33 $31 High cash flow Operating Cash Flow (US$M) $29 $29 $30 $29 $26 business generating $25 $22 $118M of operating $19 cash flow in 2022 $45M of dividends paid since IPO 1 Q2 202
Slide 10: Pure Play Precious Metals
2022 RESULTS PURE PLAY PRECIOUS METALS High-quality diversification Asset Commodity Geography 2022 Revenue 2022 Revenue 2022 Revenue Diversified 92% Precious 81% Australia revenue from 16 Metals and Americas assets Cerro Lindo 31% Gold 52% Australia 31% Northparkes 17% Silver 40% Latin America 37% A
Slide 11: Track Record, Capital Discipline & Record Growth
2022 RESULTS TRACK RECORD, CAPITAL DISCIPLINE & RECORD GROWTH High-quality, sustainable production profile Gold Equivalent Ounces (koz) +140 GEOs koz 100-115 GEOs koz 84 85 100+ Assets in Various Stages of Development 63 42 33 34 2017A 2018A 2019A 2020A 2021A 2022A 2023E 5 Year Avg 5 Year Growth Gro
Slide 12: 2023E Guidance and Long-Term Outlook
2022 RESULTS 2023E GUIDANCE AND LONG-TERM OUTLOOK Sector-leading GEOs growth profile since 2017 Key Drivers of 2023E Guidance Assumes continued timing delays across multiple assets, particularly those that are ramping or starting up new capacity, a higher than historical average gold/silver ratio,
Slide 13: 2023E Guidance
2022 RESULTS 2023E GUIDANCE GEOs and additional 2023E guidance 2023E Guidance Gold Equivalent Ounces (GEOs) 1 100 – 115 koz Depletion $65 – 71M G&A (Cash) $16 – 17M G&A (Non-cash) ~$5M Australian tax rate 2 ~25% Figures in US$M unless otherwise noted 1) 2023E outlook on stream and royalty interests
Slide 14: Sustainability
2022 RESULTS SUSTAINABILITY Superior ESG practices are core • Top ESG rankings – Inaugural (Nov 2022) ESG Risk Rating of 9.2 from Sustainalytics 1 – Ranked 4th of 114 companies in the global precious metals sector – Ranked top 1% of over 15,500 rated companies globally – Awarded ESG Industry and Reg
Slide 15: Building the Next Senior Streamer
2022 RESULTS BUILDING THE NEXT SENIOR STREAMER Track record, continued organic growth and firepower to grow value $2.8B 100-115 koz +140 koz 2023E GEOs 5 Year Average Outlook 2 Market Cap 1 Guidance 2 (2024E – 2028E) 229 Assets 1.4% +$600M 29 Paying Assets Streams and Royalties Dividend Yield 1 Avai
Slide 16: RBPlat Styldrift Mine Q&A
RBPlat Styldrift Mine Q&A TSX:TFPM | NYSE:TFPM 16
Slide 17: Appendix
Buritica Appendix TSX:TFPM | NYSE:TFPM 17
Slide 18: Non-IFRS Measures
APPENDIX NON-IFRS MEASURES Gold Equivalent Ounces (“GEOs”) GEOs are a non-IFRS measure and are based on stream and royalty interests and are calculated on a quarterly basis by dividing all revenue from such interests for the quarter by the average gold price during such quarter. The gold price is de
Slide 19: Reconciliation to IFRS Measures
APPENDIX RECONCILIATION TO IFRS MEASURES Gold Equivalent Ounces (“GEOs”) Free Cash Flow Three months ended Year ended December 31 December 31 2022 ($ thousands) 2022 2021 2022 2021 ($ thousands, except average gold Year ended Operating cash flow $36,721 $28,997 $118,376 $120,015 price and GEOs infor
Triple Flag Precious Metals Corp. Common Shares — Q4 2022 Earnings Presentation on 6ix