TORONTO - Triple Flag Precious Metals Corp. (with its subsidiaries, 'Triple Flag' or the 'Company') (TSX: TFPM, TSX: TFPM.U) announced its results for the second quarter of 2022 and declared an increased dividend of US$0.05 per common share to be paid on September 15, 2022.

Unless otherwise stated, all dollar amounts are expressed in US dollars.

'We are pleased to report solid results for the second quarter, in which operating performance across the portfolio was broadly in line with our expectations' commented Shaun Usmar, CEO. 'Metal sales in the second quarter declined versus last year's record results for the same period due mostly to quarter-end timing of shipments and a higher gold-silver ratio, but this still represented our third best quarter of operating cash flow in the life of the Company. We expect full-year 2022 gold equivalent ounces sales to be weighted to the second half of the year, with sales volumes of gold and silver on track for a record in 2022. This has made it possible for us to increase our annual dividend by 5%, from US$0.19 to US$0.20 per share, equating to a sector-leading dividend yield of 1.8%.

Looking more broadly across the sector, margin compression at operating mining companies, driven by cost inflation and commodity price volatility, is increasingly prevalent, as well as large increases in capital expenditure bills for development stage companies. While we currently have an active deal pipeline, we expect this market dynamic to further improve the outlook for streaming and royalty opportunities as more conventional funding alternatives prove increasingly expensive and unreliable, and miners require additional liquidity to overcome these challenges. We believe the market is setting up nicely for an acute need for patient, long-term capital in the sector, and we have ample liquidity to deploy against this backdrop in a disciplined manner.

The team remains highly focused on continuing to build Triple Flag in the same successful manner we have for the past 6 years, with good financial results, continued organic growth from our diverse portfolio, ample deal possibilities, disciplined acquisitions, and strong liquidity providing the bedrock for continued growth in value per share. We remain debt-free, are on track for our seventh consecutive year of record results, have a growing cash balance for new deals, strong and stable asset margins, and significant future optionality embedded in our portfolio.'

About Triple Flag

Triple Flag is a pure play, gold-focused, emerging senior streaming and royalty company. We provide our investors with 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 preferred funding partner to mining companies throughout the commodity cycle by providing customized streaming and royalty financing, while offering value beyond capital as partners via our networks, capabilities and sustainability support. 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 80 assets, including 9 streams and 71 royalties. These investments are tied to mining assets at various stages of the mine life cycle, including 15 producing mines and 65 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).

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 periods (including, but not limited to, our 2022 guidance and long-term production outlook for GEOs, our dividend policy, our outlook for the mining sector and our acquisition strategy, and our anticipated listing on the NYSE), 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. Such risks, uncertainties and other factors include, but are not limited to, those set forth under the caption 'Risk Factors' in our annual information form as filed from time to time on SEDAR at www.sedar.com. 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.

Contact:

James Dendle

Tel: +1 (416) 304 9770

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