Triple Flag Announces Strong Metal Sales for Q1 2022 and Results Release Date Triple Flag Precious Metals Corp. (with its subsidiaries, “Triple Flag” or the “Company”) (TSX: TFPM, TSX: TFPM.U) today announced revenue of $37.8 million for the first quarter of 2022, translating to metal sales of 20,11
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NEWS RELEASE
Toronto, April 12, 2022
Triple Flag Announces Strong Metal Sales for Q1 2022 and
Results Release Date
Triple Flag Precious Metals Corp. (with its subsidiaries, “Triple Flag” or the “Company”) (TSX: TFPM, TSX: TFPM.U)
today announced revenue of $37.8 million for the first quarter of 2022, translating to metal sales of 20,113 gold
equivalent ounces a (“GEOs”). This is in line with the pre -released guidance of 20,000 to 21,000 GEOs for the
quarter as disclosed in our March 15, 2022 news release, and puts us on track to deliver on our full year 2022
guidance of 90,000 to 95,000 GEOs, which is weighted towards the second half of the year. All dollar amounts are
expressed in US dollars.
Preliminary Q1 2022 Sales and Revenue
GEOs Sold and Revenue by Commodity1
Q1 2022 Q1 2021
GEOs Sold Revenue ($M) GEOs Sold Revenue ($M)
Gold 10,223 19.2 8,826 15.9
Silver 8,517 16.0 10,155 18.2
Other 1,373 2.6 733 1.3
Total 20,113 37.8 19,714 35.4
Triple Flag will release its Q1 2022 results on Tuesday, May 10, 2022, after market close. A conference call and
live webcast presentation will be held the following day, May 11, 2022, starting at 8:30 a.m. ET (5:30 a.m. PT) to
discuss these results. Participants will be able to ask questions via the telephone dial-in.
Conference Call Details
Live Webcast: https://event.on24.com/wcc/r/3725624/41F14C3C40E95DAD9A98 318A580235AC
Dial-In Details:
Toll-Free (U.S. & Canada): +1 (888) 330-2384
International: +1 (647) 800-3739
Conference ID: 4548984
1 Results are unaudited.
NEWS RELEASE
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Replay (Until May 18th):
Toll-Free (U.S. & Canada): +1 (800) 770-2030
International: +1 (647) 362-9199
Conference ID: 4548984
About Triple Flag
Triple Flag is a gold-focused streaming and royalty company, providing investors exposure to a long-life, diversified
and high -quality portfolio of streams and royalties, that generates robust free cash flows. Our business is
underpinned by a rigorous focus on asset -quality, optionality, sustainability and risk management. We offer
bespoke financing solutions to the metals and mining industry. Our mission is to be a sought -after, long-term
funding partner to mining companies throughout the commodity cycle. Since our inception in 2016, we have
delivered sector-leading growth through the construction of a diversified portfolio of streams and royalties that
provides exposure primarily to gold and silver in the Americas and Australia. We have also maintained carbon
neutrality since that time, including the Scope 3 greenhouse gas emissions of our attributable portion of metals
production of our counterparties. We have 79 assets, including 9 streams and 70 royalties. These investments are
tied to mining assets at various stages of the mine life cycle, including 15 producing mines and 6 4 development
and exploration stage projects. On May 26, 2021 Triple Flag closed its IPO, which was the largest TSX-listed mining
IPO since 2012 by size and market capitalization, and the largest precious metals IPO globally by market
capitalization since 2008. Triple Flag’s shares are listed on the TSX under TFPM.U (USD listing) and TFPM (CAD
listing).
Contact Information:
Investor Relations:
James Dendle, Vice President, Evaluations & Investor Relations
+1 (416) 304-9770
Media:
Gordon Poole, Camarco
+44 (0) 7730 567 938
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Forward-Looking Information
This news release contains “forward -looking information” within the meaning of applicable Canadian securities
laws. 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”. Our assessments of, and expectations for, future per iods (including, but not
limited to, our long-term production outlook for GEOs), are considered forward-looking information. 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 in light of our experience and perception of historical trends, current conditions and expected future
developments, 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 the ongoing
operation of the properties in which we hold a stream or royalty interest by the owners or operators of 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
subject 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. S uch risks, uncertainties and other factors include, but are not limited to, those set forth
under the caption “Risk Factors” in our annual information form and in our most recent management’s discussion
and analysis.. 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
information, which speaks only as of the date made. The forward -looking information contained in this news
release represents our expectations as of 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 of the forward-looking information contained in this news release is expressly qualified by the foregoing
cautionary statements.
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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 or 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.
a 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 determined based on the London Bullion Market Association (“ 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 prepared 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 GEO s to revenue, the most directly
comparable IFRS measure.
($ thousands, except average gold price and GEOs information) Q1-2022 Q1-2021
Revenue 37,755 35,366
Average gold price per ounce 1,877 1,794
GEOs 20,113 19,714