Press Release: Wheaton Precious Metals Announces Closing of Silver Stream with BHP on Antamina

VANCOUVER, BC, April 1, 2026 /PRNewswire/ - Wheaton Precious Metals(TM) Corp. ("Wheaton" or the "Company") is pleased to announce that its wholly-owned subsidiary, Wheaton Precious Metals International Ltd. ("WPMI") has completed the previously announced silver stream transaction under its Precious Metals Purchase Agreement with a wholly-owned subsidiary of BHP Group Limited ("BHP"), in respect of the Antamina Mine in Peru ("BHP Antamina PMPA").

Under the BHP Antamina PMPA, from the effective date of April 1, 2026, WPMI will purchase the equivalent of BHP's 33.75% of the payable silver from the Antamina mine until a total of 100 million ounces has been delivered, at which point WPMI will purchase the equivalent of 22.5% of the payable silver for the life of mine. Payable silver will be calculated using a fixed payable factor of 90.0%. In exchange, WPMI has made the upfront payment of US$4.3 billion and will make ongoing payments for the silver ounces delivered equal to 20% of the spot price of silver.

Full details of the transaction can be found in Wheaton's news release titled "Wheaton Precious Metals Announces Acquisition of Additional Silver Stream on Antamina Through New Partnership with BHP" dated February 16, 2026.

About Wheaton Precious Metals Corp.

Wheaton Precious Metals is the world's premier precious metals streaming company with the highest-quality portfolio of long-life, low-cost assets. Its business model offers investors leverage to commodity prices and exploration upside but with a much lower risk profile than a traditional mining company. Wheaton delivers amongst the highest cash operating margins in the mining industry, allowing it to pay a competitive dividend and continue to grow through accretive acquisitions. Wheaton is committed to strong ESG practices and giving back to the communities where Wheaton and its mining partners operate. Wheaton creates sustainable value through streaming.

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 Canadian securities legislation concerning the business, operations and financial performance of Wheaton and, in some instances, the business, mining operations and performance of Wheaton's Precious Metals Purchase Agreement ("PMPA") counterparties. Forward-looking statements, which are all statements other than statements of historical fact, include, but are not limited to, statements with respect to:

   -- the satisfaction of each party's obligations in accordance with the BHP 
      Antamina PMPA; 
 
   -- the receipt by the Company of silver production in respect of the 
      Antamina mine under the BHP Antamina PMPA; 
 
   -- the future price of commodities; 
 
   -- the estimation of future production from the mineral stream interests and 
      mineral royalty interests currently owned by the Company (the "Mining 
      Operations") (including in the estimation of production, mill throughput, 
      grades, recoveries and exploration potential); 
 
   -- the estimation of mineral reserves and mineral resources (including the 
      estimation of reserve conversion rates and the realization of such 
      estimations); 
 
   -- the commencement, timing and achievement of construction, expansion or 
      improvement projects by Wheaton's precious metal purchase agreement 
      ("PMPA") counterparties at Mining Operations or other payments under 
      royalty arrangements; 
 
   -- the payment of upfront cash consideration to counterparties under PMPAs, 
      the satisfaction of each party's obligations in accordance with PMPAs and 
      the receipt by the Company of precious metals and cobalt production or 
      other payments in respect of the applicable Mining Operations under 
      PMPAs; 
 
   -- the ability of Wheaton's PMPA counterparties to comply with the terms of 
      a PMPA (including as a result of the business, mining operations and 
      performance of Wheaton's PMPA counterparties) and the potential impacts 
      of such on Wheaton; 
 
   -- future payments by the Company in accordance with PMPAs, including any 
      acceleration of payments; 
 
   -- the costs of future production; 
 
   -- the estimation of produced but not yet delivered ounces; 
 
   -- continued listing of the Common Shares on the LSE, NYSE and TSX; 
 
   -- any statements as to future dividends; 
 
   -- the ability to fund outstanding commitments and the ability to continue 
      to acquire accretive PMPAs; 
 
   -- projected increases to Wheaton's production and cash flow profile; 
 
   -- projected changes to Wheaton's production mix; 
 
   -- the ability of Wheaton's PMPA counterparties to comply with the terms of 
      any other obligations under agreements with the Company; 
 
   -- the ability to sell precious metals and cobalt production; 
 
   -- confidence in the Company's business structure; 
 
   -- the Company's assessment of taxes payable, and the Company's ability to 
      pay its taxes; 
 
   -- possible CRA domestic and international audits; 
 
   -- the Company's assessment of the impact of any tax reassessments; 
 
   -- the Company's climate change and environmental commitments; and 
 
   -- assessments of the impact and resolution of various legal and tax matters, 
      including but not limited to audits. 

Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "projects", "intends", "anticipates" or "does not anticipate", or "believes", "potential", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". 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 expressed or implied by such forward-looking statements, including but not limited to:

   -- risks relating to the satisfaction of each party's obligations in 
      accordance with the terms of the BHP Antamina PMPA; 
 
   -- risks relating to the Company's ability to meet the conditions of, and 
      the satisfaction of each party's obligations under, the existing RCF and 
      the new Term Loan; 
 
   -- risks relating to the generation of sufficient cash flow to repay the 
      existing RCF and the new Term Loan; 
 
   -- risks associated with fluctuations in the price of commodities (including 
      Wheaton's ability to sell its precious metals or cobalt production at 
      acceptable prices or at all); 
 
   -- risks related to the Mining Operations (including fluctuations in the 
      price of the primary or other commodities mined at such operations, 
      regulatory, political and other risks of the jurisdictions in which the 
      Mining Operations are located, actual results of mining, risks associated 
      with exploration, development, operating, expansions and improvement at 
      the Mining Operations, environmental and economic risks of the Mining 
      Operations, and changes in project parameters as Mining Operations plans 
      continue to be refined); 
 
   -- absence of control over the Mining Operations and having to rely on the 
      accuracy of the public disclosure and other information Wheaton receives 
      from the owners and operators of the Mining Operations as the basis for 
      its analyses, forecasts and assessments relating to its own business; 
 
   -- risks related to the uncertainty in the accuracy of mineral reserve and 
      mineral resource estimation; 
 
   -- risks related to the satisfaction of each party's obligations in 
      accordance with the terms of the Company's PMPAs, including the ability 
      of the companies with which the Company has PMPAs to perform their 
      obligations under those PMPAs in the event of a material adverse effect 
      on the results of operations, financial condition, cash flows or business 
      of such companies, any acceleration of payments, estimated throughput and 
      exploration potential; 
 
   -- risks relating to production estimates from Mining Operations, including 
      anticipated timing of the commencement of production by certain Mining 
      Operations; 
 
   -- Wheaton's interpretation of, or compliance with, or application of, tax 
      laws and regulations or accounting policies and rules, being found to 
      be incorrect or the tax impact to the Company's business operations being 
      materially different than currently contemplated, or the ability to pay 
      such taxes as and when due; 
 
   -- any challenge or reassessment by the CRA of the Company's tax filings 
      being successful and the potential negative impact to the Company's 
      previous and future tax filings; 
 
   -- risks in assessing the impact of the CRA Settlement; 
 
   -- risks related to any changes to the Income Tax Act (Canada) that may 
      result in a material change to the amount of future taxes payable; 
 
   -- counterparty credit and liquidity risks; 
 
   -- mine operator and counterparty concentration risks; 
 
   -- indebtedness and guarantees risks; 
 
   -- hedging risk; 
 
   -- competition in the streaming industry risk; 
 
   -- risks relating to security over underlying assets; 
 
   -- risks relating to third-party PMPAs; 
 
   -- risks relating to revenue from royalty interests; 
 
   -- risks related to Wheaton's acquisition strategy; 
 
   -- risks relating to third-party rights under PMPAs; 
 
   -- risks relating to future financings and security issuances; 
 
   -- risks relating to unknown defects and impairments; 
 
   -- risks related to governmental regulations; 
 

(MORE TO FOLLOW) Dow Jones Newswires

April 01, 2026 18:03 ET (22:03 GMT)