Triple Flag Precious Metals Corp. Common Shares

Good day, and thank you for standing by. Welcome to the Triple Flag Precious Metals 2021 year-end results. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 on your telephone. Please be advised that today's conference call is being recorded. If you require any further assistance, please press star zero. I will now like to hand the conference over to your speaker today, Sean Usmar, CEO. Please, go ahead, sir.

Good morning, everyone, and thank you for joining us to discuss Triple Flag's fourth quarter and year-end results. I'm pleased to be able to share the results of our first year as a public company. 2021 was our fifth consecutive sales record since our founding. recording 83,600 gold equivalent ounces. That's a 33% increase on our prior record in 2020, which equates to a sector-leading cumulative annual growth rate of 26% since our first metal sales in 2017. Our 2021 sales translate into free cash flow of $120 million. It's a 42% increase on our prior record in 2020. We commence 2022 with no deaths over $600 million in financial capacity for new deals, an active deal pipeline, a long-life high-margin portfolio, a dividend providing a sector-leading yield, and greater strategic possibilities as a public company. You've seen what we've achieved in our first five years as a startup, and I'm truly excited about what lies ahead over the next five years with the platform we've built and the possibilities it creates for our partners and investors alike. Turning to slide five, the portfolio performed well overall during 2021 against the backdrop of ongoing COVID-19 challenges and supply chain disruptions. The increase in gold equivalent ounces over 2020 was driven by the continued ramp-up of newly constructed mines, a full year of contribution from North Parks, and a significant year-over-year increase in Cerro Lindo deliveries, which largely offset COVID-19-related production deferrals experienced by ATO due to associated supply chain disruptions. Cerro Lindo continues to be a significant and reliable producer for Triple Flag and continues to demonstrate their track record of reserve replacements and periodic mine life extension through ongoing exploration success and mine planning evolution the latest three are guidance for cerilindo provided by nexa last week is net positive for triple flag due to higher silver grade projections despite lower base metal grades there are three key metals at cerilindo namely zinc copper and lead silver is principally correlated with copper and lead So there are times when reductions in zinc production are beneficial to the silver production as the mine molds a greater proportion of copper and lead. Plusterville significantly outperformed in Q4 of 2021 and for the entire year. The mine produced 509,601 ounces compared to the original guidance of 400 to 425,000 ounces, with mill grades of 23.7 grams per tonne for the year and throughput up around 14% from 2020. During 2021, we also saw very high grades reported from the drilling down plunge of the Swan Zone and, of course, the announced merger with Agnico Eagle. The announcement of ATO's Phase 2 expansion in Q4 was also a positive highlight during the year. The Phase 2 expansion provides significant mine life extension, and STEP was already advancing with construction activities on a new crusher. We declared a quarterly dividend of 4.75 US cents per share, and our annualized dividend yield is sector-leading, allowing us to directly share the benefits of Triple Flag's ample, growing cash flow with our shareholders. We intend to continue growing this dividend over time without compromising our disciplined growth strategy. We are extremely proud of our sustainability initiatives. We are carbon neutral since inception and continue to invest in climate performance, host, and local communities with a total of nearly $1 million contributed to sustainability initiatives in 2021. Looking ahead to 2022, we have many high-quality catalysts in the portfolio driving organic growth, North Park's E26 Lift 1 North block cave is expected to reach production in Q1. That's some five months ahead of schedule. After a record year of silver production in 2021 at Cerro Lindo, NEXA is guiding for a further production increase in 2022. The Ritika is expanding throughput to 4,000 tons per day, and Abiplat is nearing nameplate at the Scaldriff mine after achieving record 4E production results in Q3 last year. We completed two deals in 2021, adding 37 assets to the portfolio.

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