Triple Flag Announces Record Metals Sales for Q2 2023 and Results Release Date Triple Flag Precious Metals Corp. (with its subsidiaries, “Triple Flag” or the “Company”) (TSX: TFPM, NYSE: TFPM) announced record revenue of US$52.6 million for the second quarter of 2023, translating to record metal sal
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NEWS RELEASE
Toronto, July 11, 2023
Triple Flag Announces Record Metals Sales for Q2 2023 and
Results Release Date
Triple Flag Precious Metals Corp. (with its subsidiaries, “Triple Flag” or the “Company”) (TSX: TFPM, NYSE: TFPM)
announced record revenue of US$52.6 million for the second quarter of 2023, translating to record metal sales of
26,616 gold equivalent ounces1 (“GEOs”). All dollar amounts are expressed in US dollars.
Preliminary Q2 2023 Sales and Revenue
GEOs Sold and Revenue by Commodity2
Q2 2023 Q2 2022
GEOs Sold Revenue (US$M) GEOs Sold Revenue (US$M)
Gold 17,134 33.9 11,446 21.4
Silver 8,215 16.2 6,717 12.6
Other 1,267 2.5 1,344 2.5
Total 26,616 52.6 19,507 36.5
Conference Call Details
Triple Flag will release its Q 2 2023 results on Tuesday, August 8, 2023, after market close. A conference call and
live webcast presentation will be held the following day, August 9 , 2023, starting at 10:00 a.m. ET (7:00 a.m. PT)
to discuss these results. The live webcast can be accessed by visiting the Events and Presentations page on the
Company’s website at: www.tripleflagpm.com. A n archived version of the webcast will be available on the website
for two weeks following the webcast.
Live Webcast: https://events.q4inc.com/attendee/816200992
Dial-In Details:
Toll-Free (U.S. & Canada): +1 (888) 330-2384
International: +1 (647) 800-3739
Conference ID: 4548984
Replay (Until August 23):
Toll-Free (U.S. & Canada): +1 (800) 770-2030
International: +1 (647) 362-9199
Conference ID: 4548984
NEWS RELEASE
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About Triple Flag
Triple Flag is a pure play, gold -f ocused, emerging senior streaming and royalty company. We offer bespoke
financing solutions to the metals and mining industry with exposure pri marily to gold and silver in the Americas
and Australia, with a total of 229 assets, including 15 streams and 214 royalties. These investments are tied to
mining assets at various stages of the mine life cycle, including 29 producing mines and 200 development and
exploration stage projects. Triple Flag is listed on the Toronto Stock Exchange and New York Stock Exchange, under
the ticker “TFPM”.
Contact Information
Investor Relations:
James Dendle
Senior Vice President, Corporate Development
Tel: +1 (416) 304-9770
Email: [email protected]
Media:
Gordon Poole, Camarco
Tel: +44 (0) 7730 567 938
Email: [email protected]
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Forward-Looking Information
This news release contains “forward -looking information” within the meaning of applicable Canadian securities
laws and “forward- looking statements” within the meaning of the United States Private Securities Litigation
Reform Act of 1995, respectively (collectively referred to herein as “forward -looking information”). Forward-
looking information may be identified by the use of forward -looking terminology such as “plans”, “targets”,
“expects”, “is expected”, “budget”, “scheduled”, “estimates”, “outlook”, “forecasts”, “projection”, “prospects”,
“strategy”, “intends”, “anticipates”, “believes”, or variations of such words and phrases or terminology which
states that certain actions, events or results “may”, “could”, “would”, “might”, “will”, “will be taken”, “occur” or
“be achieved”. Forward-looking information in this news release include, but are not limited to, statements with
respect to the Company’s preliminary sales and revenue information for the second quarter of 2023, the release
of its financial results for the second quarter of 2023 and the conduct of the conference call to discuss said results.
In addition, any statements that refer to expectations, intentions, projections or other characterizations of future
events or circumstances contain forward-looking information. Statements containing forward-looking information
are not historical facts but instead represent management’s expectations, estimates and projections regarding
possible future events or circumstances.
The forward -looking information included in this news release is based on our opinions, estimates and
assumptions considering our experience and perception of historical trends, current con ditions and expected
future developments, our assumptions regarding the acquisition of Maverix Metals Inc. (including our ability to
derive the anticipated benefits therefrom), as well as other factors that we currently believe are appropriate and
reasonable in the circumstances. The forward -looking information contained in this news release is also based
upon a number of assumptions, including the ongoing operation of the properties in which we hold a stream or
royalty interest by the owners or operators o f such properties in a manner consistent with past practice; the
accuracy of public statements and disclosures made by the owners or operators of such underlying properties;
and the accuracy of publicly disclosed expectations for the development of underlying properties that are not yet
in production. These assumptions include, but are not limited to, the following: assumptions in respect of current
and future market conditions and the execution of our business strategies, that operations, or ramp -up where
applicable, at properties in which we hold a royalty, stream or other interest, continue without further
interruption through the period, and the absence of any other factors that could cause actions, events or results
to differ from those anticipated, estimated, intended or implied. Despite a careful process to prepare and review
the forward -looking information, there can be no assurance that the underlying opinions, estimates and
assumptions will prove to be correct. Forward -looking information is also su bject to known and unknown risks,
uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements
to be materially different from those expressed or implied by such forward -looking information. Such risks,
uncertainties and other factors include, but are not limited to, those set forth under the caption “Risk Factors” in
our most recently filed annual information form which is available on SEDAR at www.sedar.com and on EDGAR at
www.sec.gov. For clarity, mineral resources that are not mineral reserves do not have demonstrated economic
viability and inferred resources are considered too geologically speculative for the application of economic
considerations.
Although we have attempted to identify important risk factors that could cause actual results or future events to
differ materially from those contained in forward- looking information, there may be other risk factors not
presently known to us or that we presently believe are not material that could also cause actual results or future
events to differ materially from those expressed in such forward-looking information. There can be no assurance
that such information will prove to be accurate, as actual results and future events could differ materially from
those anticipated in such information. Accordingly, readers should not place undue reliance on forward -looking
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information, which speaks only as of the date made. The forward -looking information contained in this news
release represents our expectations as o f the date of this news release and is subject to change after such date.
We disclaim any intention or obligation or undertaking to update or revise any forward- looking information
whether as a result of new information, future events or otherwise, except as required by applicable securities
laws. All the forward-looking information contained in this news release is expressly qualified by the foregoing
cautionary statements.
Cautionary Statement to U.S. Investors
Information contained or referenced in this press release or in the documents referenced herein concerning the
properties, technical information and operations of Triple Flag has been prepared in accordance with
requirements and standards under Canadian securities laws, which differ from the require ments of the U.S.
Securities and Exchange Commission (“SEC”) under subpart 1300 of Regulation S -K (“S -K 1300”). Because the
Company is eligible for the Multijurisdictional Disclosure System adopted by the SEC and Canadian Securities
Administrators, Triple Flag is not required to present disclosure regarding its mineral properties in compliance
with S-K 1300. Accordingly, certain information contained in this press release may not be comparable to similar
information made public by US companies subject to reporting and disclosure requirements of the SEC.
Technical and Third-Party Information:
Triple Flag does not own, develop or mine the underlying properties on which it holds stream or royalty interests.
As a royalty or stream holder, Triple Flag has limited, if any, access to properties included in its asset portfolio. As
a result, Triple Flag is dependent on the owners or operators of the properties and their qualified persons to
provide information to Triple Flag and on publicly available information to prepare disclosure pertaining to
properties and operations on the properties on which Triple Flag holds stream, royalty, or other similar interests.
Triple Flag generally has limited or no ability to independently verify such information. Although Triple Flag does
not believe that such information is inaccurate or incomplete in any material respect, there can be no assurance
that such third-party information is complete or accurate.
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1 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 determined based on the LBMA PM fix. For periods longer than one quarter, GEOs are summed for each
quarter in the period. Management uses this measure internally to evaluate our underlying operating
performance across our stream and royalty portfolio for the reporting periods presented and to assist with the
planning and forecasting of future operating results. GEOs are intended to provide additional information only
and do not have any standardized definition under IFRS and should not be considered in isolation or as a substitute
for measures of performance pre pared in accordance with IFRS. The measures are not necessarily indicative of
gross profit or operating cash flow as determined under IFRS. Other companies may calculate these measures
differently. The following table reconciles GEOs to revenue, the most directly comparable IFRS measure.
($ thousands, except average gold price and GEOs information) Q2 2023 Q2 2022
Revenue 52,591 36,490
Average gold price per ounce 1,976 1,871
GEOs 26,616 19,507
2 Results are unaudited.