Wheaton Precious Metals Announces Second Quarterly Dividend of US$0.10 PER Share

May 6, 2020 TSX: WPM

Vancouver, British Columbia NYSE: WPM

WHEATON PRECIOUS METALS ANNOUNCES SECOND QUARTERLY

DIVIDEND OF US$0.10 PER SHARE

Vancouver, British Columbia – Wheaton Precious Metals™ Corp. (“ Wheaton” or the

“Company”) is pleased to announce that its Board of Directors has declared its second

quarterly cash dividend payment for 2020 of US$0. 10 per common share, an 11% increase

relative to the prior period.

Second Quarterly Dividend

The second quarterly cash dividend for 2020 of US$0.10 will be paid to holders of record of

Wheaton Precious Metals common shares as of the close of business on May 22, 2020, and

will be distributed on or about June 4, 2020.

Under the Company’s dividend policy, the quarterly dividend per common share is tar geted

to equal approximately 30% of the average cash generated by operating activities in the

previous four quarters divided by the Company’s then outstanding common shares, all

rounded to the nearest cent. To minimize volatility in quarterly dividends, th e Company has

set a minimum quarterly dividend of $0. 10 per common share for the duration of 2020

representing an 11% increase relative to 2019 . Under this policy, the forecast annualized

dividend for 2020 would represent an increase of more than 90% over a five-year period.

The declaration, timing, amount and payment of future dividends remain at the discretion of

the Board of Directors. This dividend qualifies as an ‘eligible dividend’ for Canadian income

tax purposes.

Dividend Reinvestment Plan

The Company has previously implemented a Dividend Reinvestment Plan (“DRIP”).

Participation in the DRIP is optional. For the purposes of this fourth quarterly dividend, the

Company has elected to issue common shares under the DRIP through treasury at a 1%

discount to the Average Market Price, as defined in the DRIP. However, the Company may,

from time to time, in its discretion, change or eliminate the discount applicable to Treasury

Acquisitions, as defined in the DRIP, or direct that such common shares be purchased in

Market Acquisitions, as defined in the DRIP , at the prevailing market price, any of which

would be publicly announced.

The DRIP and enrollment forms, including direct deposit, are available for download on the

Company’s website at www.wheatonpm.com, accessible by quick links directly from the

home page, and can also be found in the ‘investors’ section, under the ‘dividends’ tab.

Registered shareholders may also enroll in the DRIP online through the plan agent’s self-

service web portal at:

https://www.canstockta.com/en/InvestorServices/Investor_Information/Issuer_List/IssuerDet

ail.jsp?companyCode=1501.

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Beneficial shareholders should contact their financial intermediary to arrange enrollment. All

shareholders considering enrollment in the DRIP should carefully review the terms of the

DRIP and consult with their advisors as to the implications of enrollment in the DRIP.

This press release is not an offer to sell or a solicitation of an offer of securities. A registration

statement relating to th e DRIP has been filed with the U.S. Securities and Exchange

Commission and may be obtained under the Company’s profile on the U.S. Securities and

Exchange Commission’s website at http://www.sec.gov. A written copy of the prospectus

included in the registration statement may be obtained by contacting the Corporate Secretary

of the Company at 1021 West Hastings Street, Suite 3500, Vancouver, British Columbia,

Canada V6E 0C3.

CAUTIONARY NOTE REGARDING FORWARD LOOKING-STATEMENTS

This press release contains “forward-looking statements” within the meaning of the United States

Private Securities Litigation Reform Act of 1995 and “forward-looking information ” within the

meaning of applicable Cana dian securities legislation concerning the business, operations and

financial performance of Wheaton. Forward-looking statements, which are all statements other

than statements of historical fact, include, but are not limited to, statements with respect to future

dividends. Forward-looking statements are subject to known and unknown risks, uncertainties

and other factors that may cause the actual results, level of activity, performance or achievements

of Wheaton to be materially different from those express ed or implied by such forward -looking

statements including risks discussed in the section entitled “Description of the Business – Risk

Factors” in Wheaton's Annual Information Form available on SEDAR at www.sedar.com, and in

Wheaton's Form 40-F for the year ended December 31, 2018 and Form 6-K filed March 20, 2019

both on file with the U.S. Securities and Exchange Commission in Washington, D.C. Forward-

looking statements are based on assumptions management currently believes to be reasonable,

including (without limitation) that there will be no material adverse change in the market price of

commodities, that the mining operations from which Wheaton purchases precious metals will

continue to operate, that each party will satisfy their obligations in accordance with the precious

metals purchase agreements and that Wheaton's application of the CRA Settlement for years

subsequent to 2010 is accurate (including the Company's assessment that there will be no

material change in the Company's facts or change in law or jurisprudence for years subsequent

to 2010).

For further information, please contact:

Patrick Drouin

Senior Vice President, Investor Relations

Wheaton Precious Metals Corp.

Tel: 1-844-288-9878

Email: [email protected]

Website: www.wheatonpm.com