Wheaton newsWHEATON PRECIOUS METALS ANNOUNCES ACQUISITION OF A GOLD AND PLATINUM STREAM FROM GENERATION MINING'S MARATHON PROJECT Wheaton Precious Metals Corp. has entered into a binding arrangement with Generation Mining Ltd. for a precious metal purchase agreement in respect to the Marathon project located in Ontario, Canada. "The Marathon Project provides Wheaton with accretive, near-term growth that further diversifies our existing portfolio and preserves our focus on precious metals," said Randy Smallwood, Wheaton's President and Chief Executive Officer. "Wheaton is proud to support Gen Mining in the responsible development of the Marathon Project, recently projected to have one of the lowest operational carbon footprints of any mine in the world, once producing. While Wheaton will be streaming the byproduct platinum and gold from the mine, the primary metals the Marathon Project is forecast to produce are palladium and copper, which are crucial for the global transition to a low-carbon economy." MARATHON PMPA TRANSACTION DETAILS Under the Marathon PMPA, Wheaton will purchase 100% of the payable gold production until 150 thousand ounces ("koz") have been delivered, thereafter dropping to 67% of payable gold production for the life of the mine and 22% of the payable platinum production until 120 koz have been delivered, thereafter dropping to 15% for the life of mine. Wheaton will pay Gen Mining a total upfront cash consideration of C$240 million, C$40 million of which will be paid on an early deposit basis prior to construction to be used for development of the Marathon Project, with the remainder payable in four staged installments during construction, subject to various customary conditions being satisfied and pre-determined completion tests1. Wheaton will make ongoing payments for the gold and platinum ounces delivered equal to 18% of the spot prices ("Production Payment") until the value of gold and platinum delivered less the Production Payment is equal to the upfront consideration of C$240 million, at which point the Production Payment will increase to 22% of the spot prices. Gen Mining and certain of its subsidiaries, including the owner of the Marathon Project, will provide Wheaton with corporate guarantees and other security over their assets. Completion of the Marathon PMPA is subject to the closing of Gen Mining's acquisition of the remaining 16.5% interest in the Marathon Project from Sibanye Stillwater Limited, as announced by Gen Mining on December 8, 2021. The first advance of the early deposit under the Marathon PMPA is expected to occur early in 2022, subject to the completion of certain corporate matters and customary conditions. MARATHON PROJECT OVERVIEW The Marathon Project is forecast to be high-margin palladium mine with a 13-year mine life2. Attributable production once the mine and mill are fully ramped up is forecast to average over 16 koz of gold and 14 koz of platinum per year for the first five years of production, and approximately 15 koz of gold and 11 koz of platinum per year for the first ten full years2. Gen Mining anticipates construction activities to begin in 2022, with production commencing in 2024. Significant exploration potential exists within Gen Mining's strategic land package which covers over 220 km2, including the 25 kms of strike length along the Eastern Gabbro series that hosts the Marathon and Sally deposits and multiple prospects including Biiwobik, Four Dams, Skipper, Boyer and Redstone. Gen Mining's exploration potential also includes the Geordie deposit which is part of the Trans Coldwell Group and is hosted within the center of the Complex3. Subsequent to the closing of this acquisition, the Marathon Project will add to Wheaton's estimated Proven and Probable gold reserves by 0.26 Moz and platinum by 0.17 Moz, Measured and Indicated gold resources by 0.18 Moz and platinum by 0.10 Moz, and Inferred gold resources by 0.04 Moz and platinum by 0.02 Moz. FINANCING THE TRANSACTION As at September 30, 2021, the Company had approximately US$372 million of cash on hand, which when combined with the liquidity provided by the available credit under the $2 billion revolving term loan and ongoing operating cash flows, positions the Company well to fund all outstanding commitments and known contingencies, including the recently announced acquisition of silver and gold streams in respect of the Blackwater project, and provides flexibility to acquire additional accretive mineral stream interests. ABOUT GENERATION MINING AND THE MARATHON PROJECT Gen Mining's focus is the development of the Marathon Project, a large undeveloped platinum group metals deposit in Northwestern Ontario. Gen Mining released the results of its Feasibility Study on March 3, 2021 and published the NI43-101 Technical Report dated March 25, 2021. On December 13, 2021, an independent report prepared by Skarn Associates estimated the Marathon Project, once producing, to be ranked as having one of the lowest operational carbon footprints for a mine in both Canada and the world per tonne of copper-equivalent produced. The Marathon property covers a land package of approximately 22,000 hectares, or 220 square kilometres. Gen Mining has announced that it has entered into a binding arrangement to acquire the remaining 16.5% interest in the Marathon Project held by a subsidiary of Sibanye Stillwater Limited, which will increase Gen Mining's interest in the Marathon Project to 100%.