Exhibit 99.1

 

August 6, 2026 

Vancouver, British Columbia 

SECOND QUARTER FINANCIAL RESULTS

Wheaton Precious Metals Announces Second Quarter 2026 Results and

Record Year-to-Date Production, Revenue, Earnings and Cash Flow

“Wheaton delivered another strong quarter, with solid production across the portfolio driving record year-to-date production, sales volumes, revenue, earnings and cash flow,” said Haytham Hodaly, President and Chief Executive Officer of Wheaton Precious Metals. “In an environment marked by commodity price volatility and cost pressures, our robust margins and cash flow generation underscore the strength of the streaming model. Our financial position provides significant flexibility to pursue accretive streaming opportunities while continuing to advance one of the strongest growth profiles in the industry. Backed by a diversified portfolio of high-quality assets and a compelling pipeline of growth, we believe we are well positioned to deliver long-term value for all stakeholders.”

Record Financial Performance and Strong Balance Sheet

 

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Q2 2026: A record $929 million in revenue, $543 million in net earnings and $650 million in operating cash flow.

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First half of 2026: A record $1.8 billion in revenue, record $1.1 billion in net earnings and record $1.4 billion in operating cash flow.

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Declared a quarterly dividend1 of $0.195 per common share and made two quarterly dividend payments totaling $177 million.

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Balance Sheet: Cash balance of $100 million and debt outstanding totaling $2.0 billion, resulting in total net debt of $1.9 billion.

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Enhanced financial flexibility by upsizing the Revolving Credit Facility by $500 million to $2.5 billion, extending the maturity date by one year to June 30, 2031, and broadening the lending syndicate.

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Together with the $500 million accordion feature under the Revolving Credit Facility, the Company has $2.6 billion of available liquidity.

High Quality Asset Base

 

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Streaming and royalty agreements on 22 operating mines, 20 development projects and 15 exploration & other stage projects, totaling 57 assets5.

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Delivered attributable gold equivalent production3 (“GEOs”) of 202,200 ounces in the second quarter of 2026, a 6% increase relative to the comparable period of the prior year primarily due to the acquisition of the precious metals purchase agreement (“PMPA”) with BHP Group Limited (“BHP”) for its 33.75% portion of the silver produced at Antamina (the “BHP Antamina PMPA”), in addition to the continued realization of the Company’s growth strategy with production from Hemlo, Fenix, Platreef and Goose.

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Further de-risking of industry-leading forecast growth profile with advancement of construction activities at a number of development projects, including Mineral Park, Platreef, Fenix, El Domo, Kurmuk, and Koné.

 

- 2 -

 

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On April 1, 2026, the Company entered into a PMPA with KGL Resources Limited (“KGL”) for a portion of the gold and silver produced at the Jervois project located in Australia.

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On April 20, 2026, the Company entered into a Royalty agreement with Spanish Mountain Gold Limited (“Spanish Mountain Gold”) for a 1.5% net smelter returns royalty on gold and silver production from the Spanish Mountain Gold project.

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On June 4, 2026, the Company entered into a Royalty agreement with Cipango Limited (“Cipango”) for a 1.5% net smelter returns royalty covering seven mineral exploration properties located in Japan.

Leadership in Sustainability

 

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Top Rankings: Wheaton ranked as one of the top-rated companies by Sustainalytics, AAA rated by MSCI and Prime rated by ISS.

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Recognized by Corporate Knights’ annual Best 50 Corporate Citizens in Canada.

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Published annual Sustainability Report highlighting our commitment to responsible business practices and sustainability.

Operational Overview

 

(all figures in US dollars unless otherwise noted)			Q2 2026				Q2 2025				Change				YTD 2026				YTD 2025				Change
Units produced
Gold ounces			90,434				92,883				(2.6)%				187,542				185,552				1.1 %
Silver ounces			6,400				5,590				14.5 %				13,070				10,275				27.2 %
Palladium ounces			2,788				2,435				14.5 %				5,379				5,096				5.6 %
Platinum ounces			281				—				n.a.				321				0				n.a.
Cobalt pounds			796				647				23.1 %				1,453				1,187				22.4 %
Gold equivalent ounces 3			202,229				190,179				6.3 %				414,755				364,570				13.8 %
Units sold
Gold ounces			96,099				98,973				(2.9)%				191,171				210,270				(9.1)%
Silver ounces			6,522				4,868				34.0 %				11,571				9,351				23.7 %
Palladium ounces			2,069				2,575				(19.7)%				4,975				5,032				(1.1)%
Cobalt pounds			705				353				99.7 %				1,014				618				64.1 %
Gold equivalent ounces 3			209,115				182,750				14.4 %				390,859				370,911				5.4 %
Change in PBND
Gold equivalent ounces 3			(27,056	)			(8,423	)			18,633				(14,391	)			(37,431	)			(23,040)
Revenue		$	929,201			$	503,218				84.7 %			$	1,830,670			$	973,629				88.0 %
Net earnings		$	543,236			$	292,270				85.9 %			$	1,125,280			$	546,254				106.0 %
Per share		$	1.196			$	0.644				85.7 %			$	2.478			$	1.204				105.8 %
Adjusted net earnings 1		$	542,542			$	286,004				89.7 %			$	1,125,315			$	536,830				109.6 %
Per share 1		$	1.195			$	0.630				89.7 %			$	2.478			$	1.183				109.5 %
Operating cash flows		$	649,518			$	414,959				56.5 %			$	1,415,340			$	775,752				82.4 %
Per share 1		$	1.430			$	0.914				56.5 %			$	3.117			$	1.709				82.4 %

All amounts in thousands except gold, palladium, platinum & gold equivalent ounces, and per share amounts.

 

- 3 -

 

Financial Review

Revenues

Revenue in Q2 2026 was $929 million (46% gold, 52% silver, 0.3% palladium and 2% cobalt), with the $426 million increase relative to the prior period quarter being primarily due to a 61% increase in the average realized gold equivalent³ price; and a 14% increase in the number of GEOs³ sold.

Revenue was $1.8 billion (49% gold, 49% silver, 0.4% palladium and 2% cobalt) during the six months ended June 30, 2026, with the $857 million increase from the comparable period of the previous year due primarily to a 78% increase in the average realized gold equivalent³ price; and a 5% increase in the number of GEOs³ sold.

Cash Costs and Margin

Average cash costs¹ in Q2 2026 were $568 per GEO³ as compared to $406 in Q2 2025. This resulted in a cash operating margin¹ of $3,875 per GEO³ sold, an increase of 65% as compared with the second quarter of 2025, a result of the higher realized price per ounce. Notably, year-over-year margin growth exceeded the appreciation in gold prices over the same period, underscoring the effectiveness of Wheaton’s business model in generating higher levered cash flow and margins in a rising precious metals price environment.

Average cash costs¹ for the six months ended June 30, 2026, were $621 per GEO³ as compared to $399 in the comparable period of the previous year. This resulted in a cash operating margin¹ of $4,063 per GEO³ sold, an 83% increase from comparable period of the previous year, a result of the higher realized price per ounce.

Cash Flow from Operations

Operating cash flow in Q2 2026 amounted to $650 million, with the $235 million increase from the comparable period of the prior year being due primarily to higher gross margin.

Operating cash flows for the six months ended June 30, 2026, amounted to $1.4 billion, with the $640 million increase from the comparable period of the previous year being due primarily to higher gross margin.

Produced But Not Yet Delivered

As at June 30, 2026, approximately 157,600 GEOs³ were produced but not yet delivered (“PBND”) representing approximately 2.6 months of payable production, consistent with the preceding four quarters and within our guided range of two and a half to three and a half months.

Balance Sheet (at June 30, 2026)

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On April 1, 2026, the Company drew down on its new $1.5 billion non-revolving credit facility (the “Term Loan”) with a two-year term. Proceeds from the Term Loan, together with a draw on the Company’s Revolving Credit Facility and cash on hand, were used to partially fund the BHP Antamina PMPA.

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During Q2 2026, the Company increased its existing Revolving Credit Facility by $500 million to $2.5 billion and extended its maturity by one year to June 30, 2031.

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As at June 30, 2026, the Company had approximately $100 million of cash on hand and $2.0 billion outstanding under the Company’s Term Loan and its Revolving Credit Facility.

 

- 4 -

 

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During Q2 2026, the Company made net upfront cash payments of $4.5 billion relative to the mineral stream interests consisting of:

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BHP Antamina: $4.3 billion;

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Koné: $156 million;

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Spanish Mountain: $23 million;

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Jervois: $16 million; and

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Cipango: $4.5 million.

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Subsequent to the quarter, the Company made an additional upfront cash payment of $43.875 million relative to the El Domo mineral stream interest.

Second Quarter Operating Asset Highlights

Salobo: In Q2 2026, Salobo produced 62,100 ounces of attributable gold, a decrease of 11% relative to Q2 2025, primarily the result of lower grades.

Antamina: In Q2 2026, Antamina produced 2.3 million ounces of attributable silver, an increase of 56% relative to Q2 2025. The increase was primarily driven by the newly acquired BHP Antamina PMPA, which increased the Company’s share of silver production at Antamina from 33.75% to 67.5%, effective April 1, 2026. The benefit of the increased production share was partially offset by lower silver grades and the timing of planned maintenance, as a scheduled July maintenance shutdown was advanced into June. Lower grades were attributable to pit sequencing, with a greater proportion of copper-only ore processed during the quarter relative to copper-zinc ore, which contains more silver.

Peñasquito: In Q2 2026, Peñasquito produced 1.8 million ounces of attributable silver, a decrease of 14% relative to Q2 2025, primarily the result of lower grades and recoveries resulting from planned mine sequencing, partially offset by higher throughput.

Constancia: In Q2 2026, Constancia produced 0.6 million ounces of attributable silver and 3,000 ounces of attributable gold, an increase of 2% for silver production and a decrease of 35% for gold production relative to Q2 2025. The lower gold production was the result of lower grades and recoveries, as mining activities in the higher-gold grade Pampacancha pit were completed during Q4 2025, and the remaining stockpiled Pampacancha ore was fully processed during January 2026.

On July 2, 2026, Hudbay announced that it had received approval from the National Environmental Certification Service for Sustainable Investments in Perú (“SENACE”) to amend its environmental permit and further increase annual mill processing capacity at Constancia. The amended permit increases the processing capacity of the Constancia mill to 34 million tonnes of ore per annum from 31 million tonnes per annum. Hudbay states that the environmental permit amendment also approves further optimization of the mine plan, extends the operational life of Constancia, and incorporates the implementation of additional infrastructure to improve tailings transport infrastructure and water management systems.

Stillwater: In Q2 2026, the Stillwater mines produced 1,400 ounces of attributable gold and 2,500 ounces of attributable palladium, a decrease of 14% for gold and an increase of 3% for palladium relative to Q2 2025. The decrease in gold production was primarily a result of lower recoveries, partially offset by higher throughput, while the increase in palladium production was primarily a result of higher throughput.

Blackwater: In Q2 2026, Blackwater produced 0.1 million ounces of attributable silver and 5,900 ounces of attributable gold, an increase of 7% and 46%, respectively, relative to Q2 2025, primarily the result of higher recoveries, grades and throughput. On August 4, 2026, Artemis Gold Inc. (“Artemis Gold”) provided an update on the Phase 1A expansion at Blackwater, which is anticipated to increase the plant’s nameplate capacity by 33%, from 6 to 8 million

 

- 5 -

 

tonnes per annum. Artemis Gold reported that Phase 1A was 57% complete at the end of Q2 2026 and remains on schedule for commissioning in Q4 2026, with the expansion expected to contribute to production beginning in 2027. Further, Artemis Gold reported that the early works program for EP2 is nearing completion, with the first concrete pour for the ball mill foundations completed ahead of schedule. EP2 represents a significant addition to processing plant capacity above Phase 1A, and once complete, Phase 1A and EP2 are expected to expand throughput capacity to 250%, from the existing 6 Mtpa to 21 Mtpa by Q4 2028.

Voisey’s Bay: In Q2 2026, the Voisey’s Bay mine produced 796,000 pounds of attributable cobalt, an increase of 23% relative to Q2 2025 as the underground mine at Voisey’s Bay continues ramp-up to full production, with full ramp-up expected by the second half of 2026.

Other Gold: In Q2 2026, total Other Gold attributable production was 5,900 ounces, an increase of 667% relative to Q2 2025 due to the addition of attributable production from the Fenix, Hemlo and Goose mines. Notable operational updates for assets included within ‘Other Gold’ include:

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Marmato: On July 29, 2026, Aris Mining (“Aris”) reported that underground access connecting the Bulk Mining Zone to the new plant area is complete, with SAG and ball mills on site, and mechanical installation underway. Construction of the 5,000 tpd CIP plant continues to advance toward first gold and is on schedule for Q4 2026. Aris plans to exit 2026 operating the new CIP plant at approximately 3,000 tpd, before ramping up through 2027 to approximately 4,000 tpd by mid-2027 and the full 5,000 tpd design capacity by the end of 2027, following commissioning of the paste backfill plant.

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Hemlo: On July 20, 2026, Hemlo Mining Corp. (“Hemlo Mining”) announced that gold production in Q2 2026 was lower than Q1 2026, reflecting a strategic refinement to the mining sequence. During the quarter, portions of the operation transitioned from a top-down to a bottom-up mining approach to reduce waste handling and improve long-term mining efficiency, resulting in delayed access to certain higher-grade stopes. Hemlo Mining expects higher production in future quarters as newly developed mining areas progress into the production sequence.

Other Silver: In Q2 2026, total Other Silver attributable production was 1.6 million ounces, an increase of 19% relative to Q2 2025, primarily the result of the resumption of mining at Aljustrel and the commencement of production at Mineral Park, partially offset by lower production at Zinkgruvan. Notable operational updates for assets included within ‘Other Silver’ include:

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Aljustrel: In the third quarter of 2025, Almina resumed production of the zinc and lead concentrates at the Aljustrel mine, resulting in the resumption of attributable silver production to the Company.

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Los Filos: On June 25, 2026, Equinox Gold Corp. (“Equinox”), announced that it has signed 20-year land access agreements with all three communities, Carrizalillo, Mezcala and Xochipala, that host its Los Filos mine. With these agreements in place, Equinox has initiated activities to support the gradual restart of heap leach operations and to advance technical studies to evaluate potential expansion opportunities.

Detailed mine-by-mine production and sales figures can be found in the Appendix to this press release and in Wheaton’s consolidated MD&A in the ‘Results of Operations and Operational Review’ section.

 

- 6 -

 

Recent Development Asset Updates

Mineral Park: During Q2 2026, Waterton Copper LP substantially completed the commissioning stage of the mill restart. Production is expected to increase throughout the second half of the year as operations ramp up toward the mill’s 16.5 Mtpa nameplate capacity. Copper concentrate sales continued in the second quarter and molybdenum concentrate sales were initiated during this quarter. Monthly delivery of silver to Wheaton under the PMPA has occurred throughout 2026.

Platreef: On July 8, 2026, Ivanhoe announced that commercial production at the Platreef mine is now expected in Q4 2026. Ivanhoe states that construction of Shaft #3 was completed on schedule in late March and commissioning was finalized in June. Shaft #3 increases Platreef’s hoisting capacity fivefold and enables concurrent hoisting of stoping ore and development waste. Shaft #3 is now also hoisting development waste, as the underground infrastructure is constructed in preparation for the Phase 2 expansion, which is expected to be completed by the end of 2027. In addition, stoping of higher-grade ore within the Flatreef orebody commenced at the end of the second quarter, with mining rates expected to ramp up throughout H2 2026.

Fenix: On May 15, 2026, Rio2 reported that planned tonnes and grade at its Fenix mine were not achieved during Q1 2026, though the key drivers were identified early and corrective actions have been implemented or are underway. Rio2 further states that based on current ramp-up progress, they anticipate achieving commercial production in Q4 2026.

Kurmuk: On July 29, 2026, Allied Gold Corporation (“Allied”) announced that the previously announced agreement with Zijin Gold International Company Limited (“Zijin Gold”), where Zijin Gold was to acquire all of the issued and outstanding shares of Allied, has been terminated. Allied states further that Zijin Gold has agreed to make a strategic investment in Allied of approximately $295 million, at a subscription price representing a premium to the current market price of Allied’s common shares on the Toronto Stock Exchange.

Allied also reported that development of the Kurmuk project continued to advance during the second quarter, with the start of operations expected in August and first gold pour following a few weeks thereafter. Allied states that key execution milestones continue to be met, and the project remains on budget and on schedule while advancing commissioning activities.

Koné: On June 15, 2026, Montage Gold (“Montage”) reported that construction of the Koné project remains on-budget and ahead of schedule with first gold pour targeted in late Q4 2026 through the oxide circuit, while the hard-rock comminution circuit remains on track for completion in Q2 2027. Montage also reported that it has significantly exceeded its target of delineating more than 1Moz of M&I Resources at a grade at least 50% higher than that of the Koné deposit and is continuing to aggressively advance exploration through the ongoing 90,000 meter drill program, with further resource updates expected throughout the year.

El Domo: On July 15, 2026, Silvercorp Metals Inc. (“Silvercorp”) reported that construction advanced steadily despite rainfall challenges in the period. Advancements were achieved on infrastructure, including the non-contact water channel, processing plant foundations, and the initial tailings storage facility dam. In addition, open-pit pre-stripping activities commenced and major equipment for the processing plant and water treatment facility have been procured and shipped. Silvercorp noted that it remains focused on achieving first commissioning of the operation by July 2027, in line with the project schedule.

 

- 7 -

 

Copper World: On July 29, 2026, Hudbay reported that the Copper World definitive feasibility study (“DFS”) is progressing well, with 95% of the engineering work completed, and a sanctioning decision remains on track for later in 2026. Hudbay reports the DFS is expected to include scope for future mill expansion optionality.

Santo Domingo: On July 30, 2026, Capstone Copper Corp. (“Capstone”) reported that detailed engineering advanced during the second quarter, alongside continued evaluation of opportunities to optimize district infrastructure. Capstone expects to make a final investment decision on the Santo Domingo Project in Q4 2026.

Kudz Ze Kayah: On July 29, 2026, BMC Minerals Ltd. (“BMC”) announced that during the quarter it received receipt of a positive decision document issued by the Government of Yukon, Natural Resources Canada and the Department of Fisheries and Oceans Canada, after the Yukon Environmental and Socio-economic Assessment Board had recommended approval of the project in 2020. BMC reports it will now progress mining permit and license applications with the aim to make a final investment decision in late 2027, subject to receipt of permits.

Toroparu: On July 29, 2026, Aris reported that the Prefeasibility Study (“PFS”) remains on schedule for completion in H2 2026, supporting a construction decision targeted for early 2027. Project optimization work in support of the PFS includes updated mine scheduling, engineering studies and other activities to advance to construction readiness.

Corporate Development

Jervois: On April 1, 2026, the Company entered into a PMPA with KGL (the “Jervois PMPA”) for a portion of the gold and silver produced at the Jervois Project located in Australia. In return, the Company also obtained a right of first refusal on any future precious metal streams, royalties, prepays or similar transactions with respect to the Jervois Project. Under the terms of the Jervois PMPA, the Company will pay KGL total upfront cash consideration of $275 million, subject to certain customary conditions. The upfront cash consideration will be paid in a total of six installments, with the first installment of $16 million made as an early deposit payment on June 16, 2026. The second installment of $16 million is also expected to be made as an early deposit payment, once certain conditions are satisfied, and is expected to be paid in Q3 2026. The remaining balance of $243 million will be paid in four equal installments over the construction period as various conditions are satisfied. Additionally, the Company will make ongoing payments for the gold and silver ounces delivered equal to 20% of the spot price of gold and silver.

Spanish Mountain: On April 20, 2026, the Company entered into a Royalty agreement with Spanish Mountain Gold (the “Spanish Mountain Royalty”) for a 1.5% net smelter returns royalty on gold and silver production from the Spanish Mountain Gold Project. In return, the Company also obtained a right of first refusal on any future precious metal streams, royalties, prepays or similar transactions with respect to the Spanish Mountain Gold Project. Under the terms of the Spanish Mountain Royalty, the Company will pay Spanish Mountain Gold total upfront cash consideration of $55 million, subject to certain customary conditions. The upfront cash consideration will be paid in three installments consisting of a $22.5 million payment made on May 1, 2026, a $12.5 million payment due after 60,000 meters of drilling, and a $20 million payment due upon receiving approval under the Environmental Assessment Act (British Columbia) for the construction and operation of the project.

 

- 8 -

 

Cipango: On June 4, 2026, the Company entered into a Royalty agreement with Cipango Limited (“Cipango Royalty”) for a 1.5% net smelter returns royalty covering seven mineral exploration properties located in Japan for total upfront cash consideration of $7.5 million, subject to certain customary conditions. The Company also obtained a right of first refusal on any future precious metal streams, royalties, prepays or similar transactions with respect to such properties and an additional nine properties located in Japan.

Sustainability

Annual Sustainability Report

Wheaton published its annual Sustainability report on May 20, 2026, providing a comprehensive overview of the company’s sustainability performance including progress against its strategy, targets and commitments. This report is a voluntary disclosure demonstrating the Company’s commitment to responsible business practices and sustainability.

ESG Ratings & Awards

On June 23, 2026, Wheaton was named as one of Corporate Knights’ 2026 Best 50 Corporate Citizens in Canada ranking 13^th overall. With a significant portion of the score linked to sustainable revenue, this ranking reflects Wheaton’s commitment to responsible business practices and underscores the quality and sustainability performance of the Company’s mining partners.

Future of Mining Challenge

On June 4, 2026, Wheaton launched the third edition of the Future of Mining Challenge focused on technologies that optimize mining operations and/or minimize land impacts. Wheaton invites cleantech innovators worldwide to participate and will accept expressions of interest until 11:59 p.m. (Pacific Time) on Friday, August 21, 2026.

Community Investment Program

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Wheaton’s Partner Community Investment Program supports initiatives with the Vale Foundation, Vale Base Metals, Hudbay, Glencore via Compañía Minera Antamina S.A., First Majestic, B2Gold, Ivanhoe Mines, Aris Mining, Rio2, Allied Gold, and BMC Minerals to deliver vital services and programs to communities located near our partner mining operations. These initiatives provide access to educational resources, health and dental care, poverty reduction efforts, entrepreneurial opportunities, and a range of social and environmental programs.

 

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During the quarter, Wheaton celebrated 10 years of partnership with Enseña Perú and Compañía Minera Antamina S.A., reflecting a shared commitment to improving the quality of education in rural communities near the Antamina mine and along the pipeline and transportation route. Through this long-standing collaboration, students have developed stronger literacy, mathematics and social-emotional skills, supporting improved educational outcomes in the region.

Global Minimum Tax

The Company is within the scope of global minimum tax (“GMT”) under the OECD Pillar Two model rules, under which large multinational entities are subject to a 15% GMT. The Company made a payment of $109 million (Cdn$155 million) on June 24, 2026, in respect of the 2024 fiscal year. The payment for the 2025 fiscal year, in the amount of Cdn$346 million, is expected to be paid on or around March 31, 2027.

 

- 9 -

 

2026 and Long-Term Production Outlook

Wheaton’s estimated attributable production in 2026 is forecast to be 400,000 to 430,000 ounces of gold, 27 to 29 million ounces of silver, and 19,000 to 21,000 GEOs of other metals, resulting in annual production of approximately 860,000 to 940,000 GEOs³, unchanged from previous guidance. Approximately 3% of the Company’s forecast 2026 production is estimated to be delivered from assets currently in construction or various stages of ramp-up.

Annual production is forecast to increase by approximately 50% to 1,200,000 GEOs³ by 2030, with average annual production forecast to remain at 1,200,000 GEOs³ in years 2031 to 2035, also unchanged from previous guidance.

About Wheaton Precious Metals Corp.

Wheaton 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 commodity price leverage 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 for all of its stakeholders.

In accordance with Wheaton Precious Metals^™ Corp.’s (“Wheaton Precious Metals”, “Wheaton” or the “Company”) MD&A and Financial Statements, reference to the Company and Wheaton includes the Company’s wholly owned subsidiaries.

Webcast and Conference Call Details

Wheaton will release its 2026 second quarter results on Thursday, August 6, 2026, after market close. A conference call will be held on Friday, August 7, 2026, starting at 11:00 am ET (8:00 am PT) to discuss these results. To participate in the live call, please use one of the following methods:

 

RapidConnect URL:		Click here
Live webcast:		Click here
Dial toll free:		1-800-715-9871 or 1-647-932-3411
Conference Call ID:		9311928#

Participants should dial in five to ten minutes before the call.

The conference call will be recorded and available until August 14, 2026, at 11:59 pm ET. The webcast will be available for one year. You can listen to an archive of the call by one of the following methods:

 

Dial toll free from Canada or the US:		1-800-770-2030
Dial from outside Canada or the US:		1-647-362-9199
Pass code:		9311928#
Archived webcast:		Click here

This earnings release should be read in conjunction with Wheaton Precious Metals’ MD&A and Financial Statements, which are available on the Company’s website at www.wheatonpm.com and have been posted on SEDAR+ at www.sedarplus.ca.

 

- 10 -

 

Wheaton Precious Metals believes that there are no significant differences between its corporate governance practices and those required to be followed by United States domestic issuers under the NYSE listing standards. This confirmation is located on the Wheaton Precious Metals website at http://www.wheatonpm.com.

For further information:

Investor Contact

Emma Murray

Vice President, Investor Relations

Tel: 1-844-288-9878

Email: info@wheatonpm.com

Media Contact

Simona Antolak

Vice President, Communications & Corporate Affairs

Tel: 1-604-639-9870

Email: media@wheatonpm.com

 

- 11 -

 

Condensed Interim Consolidated Statements of Earnings

 

		Three Months Ended June 30								Six Months Ended June 30
(US dollars and shares in thousands, except per share amounts - unaudited)		2026				2025				2026				2025
Sales		$	929,201			$	503,218			$	1,830,670			$	973,629
Cost of sales
Cost of sales, excluding depletion		$	118,843			$	75,169			$	244,086			$	149,805
Depletion			122,502				75,002				199,354				151,695
Total cost of sales		$	241,345			$	150,171			$	443,440			$	301,500
Gross margin		$	687,856			$	353,047			$	1,387,230			$	672,129
General and administrative			11,327				11,022				24,299				24,547
Share based compensation			4,806				9,962				14,918				22,143
Donations and community investments			4,665				2,368				6,162				5,060
Earnings from operations		$	667,058			$	329,695			$	1,341,851			$	620,379
Other income (expense)			9,071				9,736				26,807				17,256
Earnings before finance costs and income taxes		$	676,129			$	339,431			$	1,368,658			$	637,635
Finance costs			31,097				1,427				32,502				2,868
Earnings before income taxes		$	645,032			$	338,004			$	1,336,156			$	634,767
Income tax expense			101,796				45,734				210,876				88,513
Net earnings		$	543,236			$	292,270			$	1,125,280			$	546,254
Basic earnings per share		$	1.196			$	0.644			$	2.478			$	1.204
Diluted earnings per share		$	1.194			$	0.643			$	2.473			$	1.202
Weighted average number of shares outstanding
Basic			454,133				453,889				454,089				453,791
Diluted			454,991				454,663				454,973				454,550

 

- 12 -

 

Condensed Interim Consolidated Balance Sheets

 

(US dollars in thousands - unaudited)		As at June 30 2026				As at December 31 2025
Assets
Current assets
Cash and cash equivalents		$	100,192			$	1,153,593
Accounts receivable			26,056				46,723
Other			3,916				3,853
Total current assets		$	130,164			$	1,204,169
Non-current assets
Mineral stream interests		$	11,731,206			$	7,397,149
Early deposit mineral stream interests			47,097				47,094
Mineral royalty interests			67,495				40,421
Long-term equity investments			147,619				410,495
Property, plant and equipment			9,552				9,926
Other			28,053				16,527
Total non-current assets		$	12,031,022			$	7,921,612
Total assets		$	12,161,186			$	9,125,781
Liabilities
Current liabilities
Accounts payable and accrued liabilities		$	15,753			$	22,557
Income taxes payable			247,780				109,951
Current portion of performance share units			15,186				21,604
Current portion of lease liabilities			586				575
Total current liabilities		$	279,305			$	154,687
Non-current liabilities
Bank debt		$	1,969,282			$	-
Performance share units			1,387				13,215
Lease liabilities			6,882				7,330
Income taxes payable - non-current			186,599				252,271
Deferred income taxes			23,187				1,794
Pension liability			4,099				5,976
Total non-current liabilities		$	2,191,436			$	280,586
Total liabilities		$	2,470,741			$	435,273
Shareholders’ equity
Issued capital		$	3,825,005			$	3,814,910
Reserves			86,534				176,911
Retained earnings			5,778,906				4,698,687
Total shareholders’ equity		$	9,690,445			$	8,690,508
Total liabilities and shareholders’ equity		$	12,161,186			$	9,125,781

 

- 13 -

 

Condensed Interim Consolidated Statements of Cash Flows

 

		Three Months Ended June 30								Six Months Ended June 30
(US dollars in thousands - unaudited)		2026				2025				2026				2025
Operating activities
Net earnings		$	543,236			$	292,270			$	1,125,280			$	546,254
Adjustments for
Depreciation and depletion			122,808				75,322				200,091				152,316
Equity settled share based compensation			1,743				1,809				3,390				3,234
Performance share units - expense			3,063				8,153				11,528				18,909
Performance share units - paid			-				-				(29,257)				(17,209)
Income tax expense			101,796				45,734				210,876				88,513
Investment income recognized in net earnings			(2,655)				(8,742)				(15,671)				(17,789)
Other			24,560				164				22,167				3,171
Change in non-cash working capital			(8,868)				(6,709)				9,908				(14,450)
Cash generated from operations before income taxes and interest		$	785,683			$	408,001			$	1,538,312			$	762,949
Income taxes paid			(109,262)				(948)				(109,444)				(3,182)
Interest paid			(29,783)				(87)				(29,886)				(178)
Interest received			2,880				7,993				16,358				16,163
Cash generated from operating activities		$	649,518			$	414,959			$	1,415,340			$	775,752
Financing activities
Bank debt repaid		$	(728,000)			$	-			$	(728,000)			$	-
Bank debt drawn			2,700,000				-				2,700,000				-
Debt issue costs			(2,073)				(862)				(5,118)				(862)
Share purchase options exercised			807				1,967				1,546				4,473
Lease payments			(124)				(89)				(283)				(211)
Dividends paid			(171,292)				(147,939)				(171,292)				(147,939)
Cash (used for) generated from financing activities		$	1,799,318			$	(146,923)			$	1,796,853			$	(144,539	)
Investing activities
Mineral stream interests		$	(4,474,029)			$	(347,951)			$	(4,535,183)			$	(443,691)
Early deposit mineral stream interests			-				-				(3)				-
Mineral royalty interests			(27,074)				-				(27,074)				-
Acquisition of long-term investments			-				-				(14,608)				(3)
Proceeds on disposal of long-term investments			-				-				323,421				-
Dividends received			-				287				-				526
Other			(10,272)				(231)				(6,832)				(491)
Cash used for investing activities		$	(4,511,375)			$	(347,895)			$	(4,260,279)			$	(443,659)
Effect of exchange rate changes on cash and cash equivalents		$	(1,774)			$	163			$	(5,315)			$	165
(Decrease) increase in cash and cash equivalents		$	(2,064,313)			$	(79,696)			$	(1,053,401)			$	187,719
Cash and cash equivalents, beginning of period			2,164,505				1,085,581				1,153,593				818,166
Cash and cash equivalents, end of period		$	100,192			$	1,005,885			$	100,192			$	1,005,885

 

- 14 -

 

Summary of Units Produced

		Q2 2026				Q1 2026				Q4 2025				Q3 2025				Q2 2025				Q1 2025				Q4 2024				Q3 2024
Gold ounces produced 2
Salobo			62,116				69,201				88,907				66,997				69,418				71,384				84,291				62,689
Sudbury 3			4,726				4,115				7,412				4,852				5,403				4,880				5,259				3,593
Constancia			2,978				4,571				15,396				12,797				4,604				4,876				18,727				10,760
San Dimas 4			6,890				7,341				8,206				7,507				6,987				8,416				7,263				6,882
Stillwater 5			1,423				1,424				1,518				1,717				1,654				1,339				2,166				2,247
Blackwater			5,925				4,954				5,479				4,879				4,050				1,017				-				-
Platreef			491				76				-				-				-				-				-				-
Other
Marmato			979				816				705				807				748				757				622				648
Goose			362				1,096				1,027				387				19				-				-				-
Hemlo			2,561				3,007				1,630				-				-				-				-				-
Fenix			1,983				507				-				-				-				-				-				-
Total Other			5,885				5,426				3,362				1,194				767				757				622				648
Total gold ounces produced			90,434				97,108				130,280				99,943				92,883				92,669				118,328				86,819
Silver ounces produced 2
Peñasquito			1,807				2,559				1,821				2,087				2,103				1,754				2,465				1,785
Antamina			2,319				1,553				1,600				1,672				1,482				1,047				1,071				931
Constancia			565				531				731				577				552				555				970				648
Blackwater			147				129				148				136				138				35				-				-
Other
Los Filos 6			-				-				-				-				-				68				29				26
Zinkgruvan			438				532				513				688				684				585				637				537
Neves-Corvo			461				483				549				431				449				459				494				425
Aljustrel 7			461				691				548				195				-				-				-				-
Cozamin			161				165				170				169				174				174				192				185
Marmato			10				8				8				10				8				8				7				7
Mineral Park			31				19				8				-				-				-				-				-
Total Other			1,562				1,898				1,796				1,493				1,315				1,294				1,359				1,180
Total silver ounces produced			6,400				6,670				6,096				5,965				5,590				4,685				5,865				4,544
Palladium ounces produced 2 Stillwater 5			2,513				2,561				2,519				2,650				2,435				2,661				2,797				4,034
Platreef			275				30				-				-				-				-				-				-
Total palladium ounces produced			2,788				2,591				2,519				2,650				2,435				2,661				2,797				4,034
Platinum ounces produced 2 Platreef			281				40				-				-				-				-				-				-
Cobalt pounds produced 2 Voisey’s Bay			796				657				670				604				647				540				393				397
GEOs produced 8			202,229				212,526				236,157				203,331				190,179				174,391				218,993				165,883
Average payable rate 2
Gold			93.5%				95.3%				95.0%				94.6%				95.2%				94.9%				95.3%				95.0%
Silver			86.9%				87.7%				87.4%				87.7%				87.7%				86.3%				84.6%				83.9%
Palladium			97.7%				98.2%				96.9%				96.7%				97.4%				96.4%				97.5%				98.4%
Platinum			80.0%				n.a.				n.a.				n.a.				n.a.				n.a.				n.a.				n.a.
Cobalt			93.3%				93.3%				93.3%				93.3%				93.3%				93.3%				93.3%				93.3%
GEOs 8			90.0%				91.3%				91.7%				91.2%				91.5%				91.1%				90.5%				90.0%

 

1)	All figures in thousands except gold, palladium and platinum ounces produced.

2)

Quantity produced represents the amount of gold, silver, palladium, platinum and cobalt contained in concentrate or doré prior to smelting or refining deductions. Production figures and payable rates are based on information provided by the operators of the mining operations to which the mineral stream interests relate or management estimates in those situations where other information is not available. Certain production figures and payable rates may be updated in future periods as additional information is received.

3)	Comprised of the Coleman, Copper Cliff, Garson, Creighton, Stobie and Totten gold interests.

4)

Under the terms of the San Dimas PMPA, the Company is entitled to an amount equal to 25% of the payable gold production plus an additional amount of gold equal to 25% of the payable silver production converted to gold at a fixed gold to silver exchange ratio of 70:1 from the San Dimas mine. If the average gold to silver price ratio decreases to less than 50:1 or increases to more than 90:1 for a period of 6 months or more, then the “70” shall be revised to “50” or “90”, as the case may be, until such time as the average gold to silver price ratio is between 50:1 to 90:1 for a period of 6 months or more in which event the “70” shall be reinstated. From April 30, 2025 to October 28, 2025, the fixed gold to silver exchange ratio was revised to 90:1. Effective October 29, 2025, the fixed gold to silver exchange ratio was returned to 70:1. For reference, attributable silver production from prior periods is as follows: Q2 2026 - 266,000 ounces; Q1 2026 - 294,000 ounces; Q4 2025 - 329,000 ounces; Q3 2025 - 364,000 ounces; Q2 2025 - 311,000 ounces; Q1 2025 - 340,000 ounces; Q4 2024 - 295,000 ounces; Q3 2024 - 262,000 ounces.

5)

Comprised of the Stillwater and East Boulder gold and palladium interests. On September 12, 2024, Sibanye Stillwater (“Sibanye”) announced that as a result of low palladium prices it was placing the Stillwater West operations into care and maintenance, while using Stillwater East and East Boulder operations to improve efficiencies that could get Stillwater West back to production as prices permit.

6)	On April 1, 2025, Equinox Gold Corp., reported it has indefinitely suspended operations at Los Filos following the expiry of its land access agreement with the community of Carrizalillo on March 31, 2025.

7)	On September 12, 2023, it was announced that the production of the zinc and lead concentrates at the Aljustrel mine will be halted from September 24, 2023 until the third quarter of 2025.

8)

GEOs, which are provided to assist the reader, are based on the following commodity price assumptions: $4,800 per ounce gold; $80.00 per ounce silver; $1,500 per ounce palladium; $2,000 per ounce platinum; and $25.00 per pound cobalt; consistent with those used in estimating the Company’s production guidance for 2026.

 

- 15 -

 

Summary of Units Sold

		Q2 2026				Q1 2026				Q4 2025				Q3 2025				Q2 2025				Q1 2025				Q4 2024				Q3 2024
Gold ounces sold
Salobo			70,106				58,675				83,697				55,768				76,331				83,809				55,170				58,101
Sudbury 2			4,471				4,412				3,715				4,729				2,849				5,632				4,048				2,495
Constancia			2,990				10,886				17,029				2,708				6,827				9,788				17,873				5,186
San Dimas			5,984				7,670				8,686				6,655				7,235				8,962				6,990				7,022
Stillwater 3			1,275				1,394				1,790				1,465				1,386				1,947				2,410				1,635
Blackwater			6,246				4,914				5,225				6,463				3,291				110				-				-
Other
Marmato			864				718				809				749				742				737				650				550
Goose			859				1,339				528				95				-				-				-				-
Hemlo			2,283				4,478				-				-				-				-				-				-
Fenix			1,021				274				-				-				-				-				-				-
Santo Domingo 4			-				312				312				312				312				312				312				447
El Domo 4			-				-				-				-				-				-				209				258
Total Other			5,027				7,121				1,649				1,156				1,054				1,049				1,171				1,255
Total gold ounces sold			96,099				95,072				121,791				78,944				98,973				111,297				87,662				75,694
Silver ounces sold
Peñasquito			2,723				1,444				1,878				1,609				2,112				1,976				1,852				1,667
Antamina			2,063				1,504				1,893				1,552				1,073				884				858				989
Constancia			453				674				613				275				625				730				797				366
Blackwater			136				127				137				137				143				-				-				-
Other
Los Filos			2				7				-				3				8				57				29				26
Zinkgruvan			451				347				358				708				520				446				452				488
Neves-Corvo			203				271				245				212				224				218				154				185
Aljustrel			312				505				382				122				-				-				-				-
Cozamin			147				149				169				133				154				164				158				148
Marmato			9				8				10				9				9				8				7				6
Mineral Park			23				13				-				-				-				-				-				-
Total Other			1,147				1,300				1,164				1,187				915				893				800				853
Total silver ounces sold			6,522				5,049				5,685				4,760				4,868				4,483				4,307				3,875
Palladium ounces sold Stillwater 3			2,069				2,906				1,730				2,594				2,575				2,457				4,434				3,761
Cobalt pounds sold Voisey’s Bay			705				309				485				529				353				265				485				88
GEOs sold 5			209,115				181,743				219,605				161,845				182,750				188,162				163,355				141,918
Cumulative payable units PBND 6
Gold ounces			94,788				106,328				108,525				106,222				90,284				100,512				123,511				97,929
Silver ounces			3,136				4,096				3,293				3,648				3,178				3,145				3,583				2,931
Palladium ounces			5,423				4,803				5,169				4,424				4,414				4,596				4,439				6,186
Platinum ounces			257				32				-				-				-				-				-				-
Cobalt pounds			1,683				1,646				1,341				1,202				1,168				917				678				796
GEOs 5			157,617				184,673				172,008				174,661				150,713				159,136				188,144				152,858

 

1)	All figures in thousands except gold and palladium ounces sold.

2)	Comprised of the Coleman, Copper Cliff, Garson, Creighton, Stobie and Totten gold interests.

3)	Comprised of the Stillwater and East Boulder gold and palladium interests.

4)	The ounces sold under Santo Domingo and El Domo relate to ounces received due to the delay ounce provision as per the respective PMPA. Please see the Company’s MD&A for more information.

5)

GEOs, which are provided to assist the reader, are based on the following commodity price assumptions: $4,800 per ounce gold; $80.00 per ounce silver; $1,500 per ounce palladium; $2,000 per ounce platinum; and $25.00 per pound cobalt; consistent with those used in estimating the Company’s production guidance for 2026.

6)	Payable gold, silver and palladium ounces as well as cobalt pounds produced but not yet delivered (“PBND”) are based on management estimates. These figures may be updated in future periods as additional information is received.

 

- 16 -

 

Results of Operations

The operating results of the Company’s reportable operating segments are summarized in the tables and commentary below.

 

Three Months Ended June 30, 2026
		Units Produced²				Units Sold				Average Realized Price ($‘s Per Unit)				Average Cash Cost ($‘s Per Unit) 3				Average Depletion ($‘s Per Unit) 4				Sales				Net Earnings				Cash Flow From Operations				Total Assets
Gold
Salobo			62,116				70,106			$	4,452			$	433			$	404			$	312,112			$	253,413			$	278,505			$	2,568,665
Sudbury 5			4,726				4,471				4,449				400				1,399				19,891				11,848				18,041				206,067
Constancia			2,978				2,990				4,452				429				338				13,313				11,018				12,030				47,588
San Dimas			6,890				5,984				4,452				648				428				26,642				20,202				22,764				119,371
Stillwater			1,423				1,275				4,452				833				570				5,676				3,887				4,614				202,680
Blackwater			5,925				6,246				4,448				1,489				606				27,785				14,697				20,862				324,284
Platreef			491				-				n.a.				n.a.				n.a.				-				-				-				275,702
Other 6			5,885				5,027				4,450				902				1,133				22,366				12,141				17,835				1,662,005
			90,434				96,099			$	4,452			$	543			$	503			$	427,785			$	327,206			$	374,651			$	5,406,362
Silver
Peñasquito			1,807				2,723			$	72.99			$	4.62			$	5.09			$	198,793			$	172,351			$	186,211			$	185,656
Antamina			2,319				2,063				72.99				13.82				21.68				150,549				77,323				122,039				4,708,329
Constancia			565				453				72.99				6.32				6.43				33,055				27,283				30,193				144,161
Blackwater			147				136				67.77				12.46				7.55				9,189				6,476				7,539				165,522
Other 7			1,562				1,147				75.97				14.62				3.70				87,172				66,158				64,443				562,150
			6,400				6,522			$	73.41			$	9.57			$	10.24			$	478,758			$	349,591			$	410,425			$	5,765,818
Palladium
Stillwater			2,513				2,069			$	1,429			$	264			$	492			$	2,957			$	1,392			$	2,410			$	206,444
Platreef			275				-				n.a.				n.a.				n.a.				-				-				-				78,814
			2,788				2,069			$	1,429			$	264			$	492			$	2,957			$	1,392			$	2,410			$	285,258
Platinum
Marathon			-				-			$	n.a.			$	n.a.			$	n.a.			$	-			$	-			$	-			$	9,451
Platreef			281				-				n.a.				n.a.				n.a.				-				-				-				57,584
			281				-			$	n.a.			$	n.a.			$	n.a.			$	-			$	-			$	-			$	67,035
Cobalt
Voisey’s Bay			796				705			$	27.93			$	5.21			$	9.02			$	19,701			$	9,667			$	12,940			$	206,733
Operating results																						$	929,201			$	687,856			$	800,426			$	11,731,206
Other
General and administrative																										$	(11,327)			$	(10,489)
Share based compensation																											(4,806)				-
Donations and community investments																											(4,665)				(3,899)
Finance costs																											(31,097)				(30,780)
Other																											9,071				3,522
Income tax																											(101,796)				(109,262)
Total other																										$	(144,620)			$	(150,908)			$	429,980
																										$	543,236			$	649,518			$	12,161,186

 

1)	Units of gold, silver, palladium and platinum produced and sold are reported in ounces, while cobalt is reported in pounds. All figures in thousands except gold, palladium and platinum ounces produced and sold and per unit amounts.

2)

Quantity produced represents the amount of gold, silver, palladium, platinum and cobalt contained in concentrate or doré prior to smelting or refining deductions. Production figures are based on information provided by the operators of the mining operations to which the mineral stream interests relate or management estimates in those situations where other information is not available. Certain production figures may be updated in future periods as additional information is received.

3)	Refer to discussion on non-GAAP measure (iii) at the end of this press release.

4)	Includes the non-cash per ounce cost of sale associated with delay ounces. Please see the Company’s MD&A for more information.

5)	Comprised of the operating Coleman, Copper Cliff, Garson, Creighton, Stobie and Totten gold interests and the non-operating Victor gold interest.

6)	Other gold interests comprised of the Copper World, Marmato, Santo Domingo, Fenix, El Domo, Marathon, Goose, Cangrejos, Curraghinalt, Kudz Ze Kayah, Koné, Kurmuk, Spring Valley, Hemlo and Jervois gold interests.

7)	Other silver interests comprised of the Los Filos, Zinkgruvan, Stratoni, Neves-Corvo, Aljustrel, El Alto, Copper World, Navidad, Marmato, Cozamin, El Domo, Mineral Park, Kudz Ze Kayah and Jervois silver interests.