Maverix Metals : Corporate Presentation - December 2022

MAVERIX AND TRIPLE FLAG PROPOSED COMBINATION

Building the next senior streaming and royalty company

• Maverix shareholders may elect to receive 0.360 of a Triple Flag share or US$3.92 in cash for each Maverix share held
• • Represents a 10% premium to Maverix's last closing price on November 9 on the NYSE American
  • Represents a 22% premium to Maverix based on the 10-day VWAP for both companies on the NYSE American
• Combined company market capitalization of $2.2 billion
• Maverix shareholders will own approximately 23% of the combined company

Combines two high-quality, globally diversified precious metals focused streaming and royalty portfolios

Enhanced shareholder base and diversification with cornerstone institutional and strategic shareholders

Well positioned to compete and grow; combined scale and high-quality portfolio with rerate potential

TSX & NYSE American: MMX | maverixmetals.com | 1

PURE PLAY GOLD ROYALTY INVESTMENT

148 precious metals royalties and streams with

14 paying and a robust organic growth trajectory

Focused on per share value creation and a dividend that currently yields ~1.5%

$600M		32k
MARKET CAP.		2021 GEOS
148		99%
TOTAL ROYALTIES		GOLD &
& STREAMS		SILVER
14		~90%
PAYING ROYALTIES		GROSS
& STREAMS		CASH MARGIN

TSX & NYSE American: MMX | maverixmetals.com | 2

BARRICK ROYALTY PORTFOLIO ACQUISITION

plus up to an additional $10 million in contingent payments:

• $6 million payable if Eskay Creek receives all permits required to commence construction within 6 years
• $2 million payable when Maverix receives $10 million in proceeds from the royalty portfolio within 6 years (excluding Eskay Creek)
• $2 million payable when Maverix receives $20 million in proceeds from the royalty portfolio within 6 years (excluding Eskay Creek)

Eskay Creek		Bullfrog Gold		Sanutura
		(South Houndé)
0.5% NSR		2.0% NSR
		1.0% - 2.0% NSR

Lagunas Norte		Central Musgrave		Maitland
2.0% NSR on PMR		1.5% NSR		2.5% NSR

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ESKAY CREEK

Highlights

• RAPIDLY ADVANCING TOWARDS PRODUCTION
• ROBUST ECONOMICS
• PROLIFIC MINING JURISDICTION
• SIGNIFICANT EXPLORATION POTENTIAL

2022 Feasibility Study

AVG ANNUAL	LOM AVG	INITIAL	NPV & IRR
PRODUCTION	AISC	MINE LIFE	($1,700/oz Au)

269,000	$355	9	C$1.4B
oz gold	per ounce of Au	years	after-tax NPV5%
7,412,000	(net of silver by-product)		50%
oz silver			after-tax IRR

More information at skeenaresources.com

0.5% NSR

OPERATOR	LOCATION	STAGE
	Golden Triangle	Feasibility
	BC	Completed

Upcoming Catalysts

• H1 2023: Resource Update & Project Financing
• H2 2023: Updated Feasibility Study

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