EX-99.3

Condensed Interim Consolidated Statements of Cash Flows


			Three Months Ended June 30						Six Months Ended June 30

(US dollars in thousands - unaudited)	Note		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		8		1,743			1,809			3,390			3,234

Performance share units - expense		19.1		3,063			8,153			11,528			18,909

Performance share units - paid		19.1		-			-			(29,257	)		(17,209	)

Income tax expense		22		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		21		(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		16	$	(728,000	)	$	-		$	(728,000	)	$	-

Bank debt drawn		16		2,700,000			-			2,700,000			-

Debt issue costs		16		(2,073	)		(862	)		(5,118	)		(862	)

Share purchase options exercised		18.1		807			1,967			1,546			4,473

Lease payments				(124	)		(89	)		(283	)		(211	)

Dividends paid		17.2		(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		12	$	(4,474,029	)	$	(347,951	)	$	(4,535,183	)	$	(443,691	)

Early deposit mineral stream interests		13		-			-			(3	)		-

Mineral royalty interests		14		(27,074	)		-			(27,074	)		-

Acquisition of long-term investments		15		-			-			(14,608	)		(3	)

Proceeds on disposal of long-term investments		15		-			-			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		21	$	100,192		$	1,005,885		$	100,192		$	1,005,885

The accompanying notes form an integral part of these unaudited condensed interim consolidated financial statements.

WHEATON PRECIOUS METALS 2026 SECOND QUARTER REPORT - FINANCIAL STATEMENTS [5]

Condensed Interim Consolidated Statements of Shareholders’ Equity



	Number of Shares (000’s)		Issued Capital		Reserves												Retained Earnings			Total
(US dollars in thousands - unaudited)	Number of Shares (000’s)		Issued Capital		Share Purchase Options Reserve			Restricted Share Units Reserve			LTI 1 Revaluation Reserve (Net of Tax)			Total Reserves			Retained Earnings			Total

At January 1, 2025		453,677	$	3,798,108	$	23,361		$	8,859		$	(95,723	)	$	(63,503	)	$	3,524,774		$	7,259,379

Total comprehensive income				-		-			-			23,810			23,810			253,984			277,794

SBC 1 expense				-		579			846			-			1,425			-			1,425

Options 1 exercised		62		2,965		(541	)		-			-			(541	)		-			2,424

RSUs 1 released		69		3,095		-			(3,095	)		-			(3,095	)		-			-

Dividends (Note 17.2)				-		-			-			-			-			(74,880	)		(74,880	)

At March 31, 2025		453,808	$	3,804,168	$	23,399		$	6,610		$	(71,913	)	$	(41,904	)	$	3,703,878		$	7,466,142

Total comprehensive income				-		-			-			36,575			36,575			292,270			328,845

SBC 1 expense				-		711			1,098			-			1,809			-			1,809

Options 1 exercised		50		2,444		(477	)		-			-			(477	)		-			1,967

RSUs 1 released		73		1,657		-			(1,657	)		-			(1,657	)		-			-

Dividends (Note 17.2)		23		1,842		-			-			-			-			(74,899	)		(73,057	)

At June 30, 2025		453,954	$	3,810,111	$	23,633		$	6,051		$	(35,338	)	$	(5,654	)	$	3,921,249		$	7,725,706

Total comprehensive income				-		-			-			179,939			179,939			925,466			1,105,405

Income tax recovery (expense)				-		-			-			-			-			1,788			1,788

SBC 1 expense				-		1,363			1,878			-			3,241			-			3,241

Options 1 exercised		66		3,413		(615	)		-			-			(615	)		-			2,798

Dividends		14		1,386		-			-			-			-			(149,816	)		(148,430	)

At December 31, 2025		454,034	$	3,814,910	$	24,381		$	7,929		$	144,601		$	176,911		$	4,698,687		$	8,690,508

Total comprehensive income				-		-			-			54,896			54,896			582,044			636,940

Income tax recovery (expense)				-		-			-			-			-			1,993			1,993

SBC 1 expense				-		700			947			-			1,647			-			1,647

Options 1 exercised		17		909		(170	)		-			-			(170	)		-			739

RSUs 1 released		46		2,360		-			(2,360	)		-			(2,360	)		-			-

Dividends ( Note 17.2)				-		-			-			-			-			(88,549	)		(88,549	)

Realized gain on disposal of LTIs ¹ (Note 18.3)				-		-			-			(131,144	)		(131,144	)		131,144			-

At March 31, 2026		454,097	$	3,818,179	$	24,911		$	6,516		$	68,353		$	99,780		$	5,325,319		$	9,243,278

Total comprehensive income				-		-			-			(14,783	)		(14,783	)		543,236			528,453

Income tax recovery (expense)		-		-		-			-			-			-			(1,093	)		(1,093	)

SBC 1 expense				-		729			1,014			-			1,743			-			1,743

Options 1 exercised		17		994		(187	)		-			-			(187	)		-			807

RSUs 1 released		1		19		-			(19	)		-			(19	)		-			-

Dividends (Note 17.2)		45		5,813		-			-			-			-			(88,556	)		(82,743	)

At June 30, 2026		454,160	$	3,825,005	$	25,453		$	7,511		$	53,570		$	86,534		$	5,778,906		$	9,690,445

Definitions as follows: “SBC” = Equity Settled Stock Based Compensation; “Options” = Share Purchase Options; “RSUs” = Restricted Share Units; “LTI’s” = Long-Term Investments - Common Shares Held.

The accompanying notes form an integral part of these unaudited condensed interim consolidated financial statements.

WHEATON PRECIOUS METALS 2026 SECOND QUARTER REPORT - FINANCIAL STATEMENTS [6]

Notes to the Condensed Interim Consolidated Financial Statements

Three and Six Months Ended June 30, 2026 (US Dollars)

1.	Description of Business and Nature of Operations

Wheaton Precious Metals Corp. is a precious metal streaming company which generates its revenue primarily from the sale of precious metals (gold, silver and palladium) and cobalt. Wheaton Precious Metals Corp. (“Wheaton” or the “Company”), which is the ultimate parent company of its consolidated group, is incorporated and domiciled in Canada, and its principal place of business is at Suite 3500—1021 West Hastings Street, Vancouver, British Columbia, V6E 0C3. The Company trades on the Toronto Stock Exchange (“TSX”), the New York Stock Exchange (“NYSE”) and the London Stock Exchange (“LSE”) under the symbol WPM.

As of June 30, 2026, the Company has entered into 45

long-term agreements with 38 mining companies, comprised of 35 precious metal purchase agreements, or “PMPAs”,

three

rly deposit PMPAs and

seven

royalty agreements. These agreements relate to precious metals and cobalt from

mining assets located in

countries, including 22 operating mines,

development stage

projects, and

exploration stage projects (including three in care and maintenance). Pursuant to the PMPAs, Wheaton acquires metal production from the counterparties for an initial upfront payment plus an additional cash payment for each ounce or pound delivered which is either a fixed price or fixed percentage of the market price by contract, generally at or below the prevailing market price.

The condensed interim consolidated financial statements of the Company for the three and six months ended June 30, 2026 (“Interim Financial Statements”) were authorized for issue as of August 6, 2026 in accordance with a resolution of the Board of Directors.

2.	Basis of Presentation and Statement of Compliance

These Interim Financial Statements have been prepared on a historical cost basis, except for certain financial instruments which have been measured at fair value as at the relevant balance sheet date. The Interim Financial Statements are presented in United States (“US”) dollars, which is the Company’s functional currency, and all values are rounded to the nearest thousand US dollars (US$ 000’s) unless otherwise noted. References to “Cdn$” refer to Canadian dollars.

These Interim Financial Statements have been prepared in accordance with IAS 34, Interim Financial Reporting (“IAS 34”) as issued by the International Accounting Standards Board (“IASB”). The accounting policies applied in these Interim Financial Statements are based on IFRS Accounting Standards as issued by the IASB (“IFRS”) and have been prepared using the same accounting policies and methods of application as disclosed in Note 3 to the audited consolidated financial statements for the year ended December 31, 2025 and were consistently applied to all the periods presented unless otherwise stated below. These Interim Financial Statements do not include all the information and note disclosures required by IFRS for annual consolidated financial statements and therefore should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2025.

The preparation of financial statements in accordance with IAS 34 requires the use of certain accounting estimates. It also requires management to exercise judgment in applying the Company’s accounting policies. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in Note 4.

In the opinion of management, all adjustments (including normal recurring adjustments) necessary to present fairly the financial position at June 30, 2026 and the results of operations and cash flows for all periods presented have been made. The interim results are not necessarily indicative of results for a full year.

3.	Material Accounting Policy Information

3.1.	Future Changes to Accounting Policies

The International Accounting Standards Board has issued the following new or amended standards:

IFRS 18 - Presentation and Disclosure in Financial Statements.

In April 2024, IFRS 18 Presentation and Disclosure in Financial Statements was issued. IFRS 18 replaces IAS 1 Presentation of Financial Statements while carrying forward many of the requirements in IAS 1. IFRS 18 introduces new requirements to: i) present specified categories and defined subtotals in the statement of earnings, ii) provide disclosures on management-defined performance measures (MPMs) in the notes to the financial statements, iii) improve aggregation and disaggregation. Some of the requirements in IAS 1 are moved to IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors and IFRS 7 Financial Instruments: Disclosures. There were also minor amendments to IAS 7 Statement of Cash Flows and IAS 33 Earnings per Share in connection with the new standard.

WHEATON PRECIOUS METALS 2026 SECOND QUARTER REPORT - FINANCIAL STATEMENTS [7]

Notes to the Condensed Interim Consolidated Financial Statements

Three and Six Months Ended June 30, 2026 (US Dollars)

IFRS 18 requires retrospective application with specific transition provisions. The Company is required to apply IFRS 18 for annual

reporting

periods beginning on or after January 1, 2027 with early adoption permitted. The Company is currently evaluating the impact of IFRS 18 on its financial statements.

4.	Key Sources of Estimation Uncertainty and Critical Accounting Judgments

The preparation of the Company’s Interim Financial Statements requires management to make judgments, estimates and assumptions that affect the reported amounts of assets, liabilities and contingent liabilities at the date of the consolidated financial statements and reported amounts of revenues and expenses during the reporting period. Estimates and assumptions are continuously evaluated and are based on management’s experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. However, actual outcomes can differ from these estimates.

Information about significant areas of estimation uncertainty and judgments made by management in preparing the Interim Financial Statements are unchanged from those disclosed in Note 4 to the audited consolidated financial statements for the year ended December 31, 2025.

5.	Financial Instruments

There have been no significant changes to the Company’s financial instruments and related risks since December 31, 2025. Refer to Note 5 to the audited consolidated financial statements for the year ended December 31, 2025 for more information.

5.1.	Fair Value Estimation

The Company classifies its fair value measurements within a fair value hierarchy, which reflects the significance of the inputs used in making the measurements as defined in IFRS 13 – Fair Value Measurements (“IFRS 13”).

Level 1 - Unadjusted quoted prices at the measurement date for identical assets or liabilities in active markets.

Level 2 - Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.

Level 3 - Unobservable inputs which are supported by little or

market activity.

The following table sets forth the Company’s financial assets and liabilities measured at fair value by level within the fair value hierarchy. As required by IFRS 13, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.



		June 30, 2026

(in thousands)	Note		Total		Level 1		Level 2		Level 3

Cash and cash equivalents	21	$	100,192	$	100,192	$	-	$	-

Trade receivables from provisional concentrate sales, net of fair value adjustment	11		17,867		-		17,867		-

Long-term investments - common shares held	15		144,789		144,789		-		-

Long-term investments - warrants held	15		2,830		-		2,830		-
		$	265,678	$	244,981	$	20,697	$	-

WHEATON PRECIOUS METALS 2026 SECOND QUARTER REPORT - FINANCIAL STATEMENTS [8]

Notes to the Condensed Interim Consolidated Financial Statements

Three and Six Months Ended June 30, 2026 (US Dollars)



			December 31, 2025

(in thousands)	Note		Total		Level 1		Level 2		Level 3

Cash and cash equivalents		21	$	1,153,593	$	1,153,593	$	-	$	-

Trade receivables from provisional concentrate sales, net of fair value adjustment		11		41,545		-		41,545		-

Long-term investments - common shares held		15		407,230		407,230		-		-

Long-term investments -warrants held		15		3,265		-		3,265		-

			$	1,605,633	$	1,560,823	$	44,810	$	-

The Company’s bank debt (Notes 16.1 and 16.2) is reported at amortized cost using the effective interest method. The carrying value of the bank debt approximates its fair value.

5.1. Valuation Techniques for Level 2 Assets

Accounts Receivable Arising from Sales of Metal Concentrates

The Company’s trade receivables from provisional concentrate sales are valued based on forward price of silver to the expected date of final settlement (Note 6). As such, these receivables and/or liabilities are classified within Level 2 of the fair value hierarchy.

Long-Term Investments in Warrants Held

The fair value of the Company’s long-term investments in warrants held that are not traded in an active market are determined using a Black-Scholes model based on assumptions including risk-free interest rate, expected dividend yield, expected volatility and expected warrant life which are supported by observable current market conditions and as such are classified within Level 2 of the fair value hierarchy. The use of reasonably possible alternative assumptions would not significantly affect the

Company’s

results.

Revenue


	Three Months Ended June 30								Six Months Ended June 30

(in thousands)	2026				2025				2026				2025

Sales

Gold credit sales	$	427,785	46	%	$	328,354	65	%	$	888,823	49	%	$	648,049	66	%
Silver

Silver credit sales	$	404,758	44	%	$	139,949	28	%	$	735,817	40	%	$	262,249	27	%

Concentrate sales		74,000	8	%		25,790	5	%		169,711	9	%		48,428	5	%

Total silver sales	$	478,758	52	%	$	165,739	33	%	$	905,528	49	%	$	310,677	32	%

Palladium credit sales	$	2,957	0	%	$	2,564	1	%	$	7,866	0	%	$	4,936	1	%

Cobalt sales	$	19,701	2	%	$	6,561	1	%	$	28,453	2	%	$	9,967	1	%

Total sales revenue	$	929,201	100	%	$	503,218	100	%	$	1,830,670	100	%	$	973,629	100	%

Gold, Silver and Palladium Credit Sales

Under certain PMPAs, precious metal is acquired from the mine operator in the form of precious metal credits, which is then sold through bullion banks. Revenue from precious metal credit sales is recognized at the time of the sale of such credits, which is also the date that control of the precious metal is transferred to the customer.

Concentrate Sales

Under certain PMPAs, silver is acquired from the mine operator in concentrate form, which is then sold under the terms of the concentrate sales contracts to third-party smelters or traders. Where the Company acquires precious metal in concentrate form, final precious metal prices are set on a specified future quotational period (the “Quotational Period”) pursuant to the concentrate sales contracts with third-party smelters, typically one to three months after the shipment date, based on market prices for precious metal. The contracts, in general, provide for a provisional

WHEATON PRECIOUS METALS 2026 SECOND QUARTER REPORT - FINANCIAL STATEMENTS [9]

Notes to the Condensed Interim Consolidated Financial Statements

Three and Six Months Ended June 30, 2026 (US Dollars)

payment based upon provisional assays and quoted gold and silver prices. Final settlement is based upon the average applicable price for the Quotational Period applied to the actual number of precious metal ounces recovered calculated using confirmed smelter weights and settlement assays. Revenues and the associated cost of sales are recorded on a gross basis under these contracts at the time title passes to the customer, which is also the date that control of the precious metal is transferred to the customer. The Company has concluded that the adjustments relating to the final assay results for the quantity of concentrate sold are not significant and do not constrain the recognition of revenue.

Cobalt Sales

The Company has entered into an offtake agreement under which all cobalt is sold to a third-party offtaker. Revenue from the cobalt sale is recognized at the time of the delivery, which is also the date that control of the cobalt is transferred to the

offtaker

7.	General and Administrative


	Three Months Ended June 30				Six Months Ended June 30

(in thousands)	2026		2025		2026		2025

Salaries and benefits	$	5,413	$	5,631	$	12,055	$	13,442

Depreciation		306		320		737		620

Professional fees, audit and regulatory		2,317		2,648		4,386		4,499

Business travel		483		398		1,166		983

Business taxes		131		260		998		882

Insurance		522		492		1,013		985

Other		2,155		1,273		3,944		3,136

Total general and administrative	$	11,327	$	11,022	$	24,299	$	24,547

8.	Share Based Compensation


			Three Months Ended June 30				Six Months Ended June 30

(in thousands)	Note		2026		2025		2026		2025

Equity settled share based compensation 1

Share purchase options		18.1	$	729	$	711	$	1,429	$	1,290

Restricted share units		18.2		1,014		1,098		1,961		1,944

Cash settled share based compensation

Performance share units		19.1	$	3,063	$	8,153	$	11,528	$	18,909

Total share based compensation			$	4,806	$	9,962	$	14,918	$	22,143

1)	Equity settled share based compensation is a non-cash expense.

WHEATON PRECIOUS METALS 2026 SECOND QUARTER REPORT - FINANCIAL STATEMENTS [10]

Notes to the Condensed Interim Consolidated Financial Statements

Three and Six Months Ended June 30, 2026 (US Dollars)

9.	Donations and Community Investments


	Three Months Ended June 30				Six Months Ended June 30

(in thousands)	2026		2025		2026		2025

Local donations and community investments 1	$	2,343	$	793	$	3,100	$	1,625

Partner donations and community investments 2		1,153		1,551		1,815		2,308

Environmental and innovation investments 3		1,169		24		1,247		1,127

Total donations and community investments	$	4,665	$	2,368	$	6,162	$	5,060

1)	The Local Community Investment Program supports organizations in Vancouver and the Cayman Islands, where Wheaton’s offices are located.

2)	The Partner Community Investment Program supports the communities influenced by Mining Partners’ operations.

3)	Includes the Company’s funding of initiatives that seek to reduce environmental impacts and support innovation and efficiency in mining, including costs associated with the Future of Mining Challenge.

10.	Other Income (Expense)


	Three Months Ended June 30				Six Months Ended June 30

(in thousands)	2026		2025		2026		2025

Interest income	$	2,655	$	8,455	$	15,671	$	17,263

Dividend income		-		287		-		526

Foreign exchange gain (loss)		5,601		(1,379)		8,241		(1,532	)

Gain (loss) on fair value adjustment of share purchase warrants held		492		2,134		(436)		2,757

Other		323		239		3,331		(1,758	)

Total other income (expense)	$	9,071	$	9,736	$	26,807	$	17,256

11.	Accounts Receivable



(in thousands)	Note	June 30 2026		December 31 2025

Trade receivables from provisional concentrate sales, net of fair value adjustment	6	$	17,867	$	41,545

Trade receivables from sales of cobalt	6		7,200		3,472

Other accounts receivable			989		1,706

Total accounts receivable		$	26,056	$	46,723

WHEATON PRECIOUS METALS 2026 SECOND QUARTER REPORT - FINANCIAL STATEMENTS [11]

Notes to the Condensed Interim Consolidated Financial Statements

Three and Six Months Ended June 30, 2026 (US Dollars)

12.	Mineral Stream Interests


	Six Months Ended June 30, 2026

	Cost								Accumulated Depletion & Impairment 1

(in thousands)	Balance Jan 1, 2026		Additions		Disposal 4,5		Balance Jun 30, 2026		Balance Jan 1, 2026		Depletion		Disposal 4,5		Balance Jun 30, 2026		Carrying Amount Jun 30, 2026

Gold interests

Salobo	$	3,573,911	$	-	$	-	$	3,573,911	$	(953,201)	$	(52,045)	$	-	$	(1,005,246)	$	2,568,665

Sudbury 2		623,864		-		-		623,864		(405,370)		(12,427)		-		(417,797)		206,067

Constancia		140,058		-		-		140,058		(87,774)		(4,696)		-		(92,470)		47,588

San Dimas		220,429		-		-		220,429		(95,211)		(5,847)		-		(101,058)		119,371

Stillwater 3		239,352		-		-		239,352		(35,150)		(1,522)		-		(36,672)		202,680

Blackwater		340,231		-		-		340,231		(9,183)		(6,764)		-		(15,947)		324,284

Platreef		275,702		-		-		275,702		-		-		-		-		275,702

Other 4		1,513,278		219,192		(19,360)		1,713,110		(56,146)		(14,319)		19,360		(51,105)		1,662,005

	$	6,926,825	$	219,192	$	(19,360)	$	7,126,657	$	(1,642,035)	$	(97,620)	$	19,360	$	(1,720,295)	$	5,406,362

Silver interests

Peñasquito	$	524,626	$	-	$	-		524,626	$	(317,760)	$	(21,210)	$	-	$	(338,970)	$	185,656

Antamina		900,343		4,300,568		-		5,200,911		(441,260)		(51,322)		-		(492,582)		4,708,329

Constancia		302,948		-		-		302,948		(151,545)		(7,242)		-		(158,787)		144,161

Blackwater		170,947		-		-		170,947		(3,445)		(1,980)		-		(5,425)		165,522

Other 5		1,168,469		13,651		(3,048)		1,179,072		(611,582)		(8,388)		3,048		(616,922)		562,150

	$	3,067,333	$	4,314,219	$	(3,048)	$	7,378,504	$	(1,525,592)	$	(90,142)	$	3,048	$	(1,612,686)	$	5,765,818

Palladium interests

Stillwater 3	$	263,721	$	-	$	-	$	263,721	$	(54,829)	$	(2,448)		-	$	(57,277)	$	206,444

Platreef		78,814		-		-		78,814		-		-		-		-		78,814

	$	342,535	$	-	$	-	$	342,535	$	(54,829)	$	(2,448)	$	-	$	(57,277)	$	285,258

Platinum interests

Marathon	$	9,451	$	-	$	-	$	9,451	$	-	$	-		-	$	-	$	9,451

Platreef		57,584		-		-		57,584		-		-		-		-		57,584

	$	67,035	$	-	$	-	$	67,035	$	-	$	-	$	-	$	-	$	67,035

Cobalt interests

Voisey’s Bay	$	393,422	$	-	$	-	$	393,422	$	(177,545)	$	(9,144)		-	$	(186,689)	$	206,733

	$	10,797,150	$	4,533,411	$	(22,408)	$	15,308,153	$	(3,400,001)	$	(199,354)	$	22,408	$	(3,576,947)	$	11,731,206

1)	Includes cumulative impairment charges to June 30, 2026 as follows: El Alto silver interest - $ 338 million; Sudbury gold interest - $120 million; and Voisey’s Bay cobalt interest - $109 million.

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

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

Comprised of the Minto, Copper World Complex, Marmato, Santo Domingo, Fenix, Marathon, Goose, El Domo, Cangrejos, Curraghinalt, Kudz Ze Kayah, Koné, Kurmuk, Spring Valley, Hemlo and Jervois gold interests. The additions to other gold interests include Koné - $156 million, Spring Valley - $50 million, Marmato - $37 million and Jervois - $6 million; less a repayment relative to Santo Domingo - $

million to be

re-advanced

at a later date. The fully depleted Minto PMPA was removed from the Mineral Stream Interests owned due to Minto Metals Corp. being placed in receivership.

Comprised of the Los Filos, Zinkgruvan, Stratoni, Neves-Corvo, Minto, Aljustrel, Loma de La Plata, El Alto, Copper World Complex, Marmato, Cozamin, El Domo, Mineral Park, Kudz Ze Kayah and Jervois silver interests. The additions to other silver interests include Jervois - $10 million and Marmato - $3 million. The fully depleted Minto PMPA was removed from the Mineral Stream Interests owned due to Minto Metals Corp. being placed in receivership.

WHEATON PRECIOUS METALS 2026 SECOND QUARTER REPORT - FINANCIAL STATEMENTS [12]

Notes to the Condensed Interim Consolidated Financial Statements

Three and Six Months Ended June 30, 2026 (US Dollars)


	Year Ended December 31, 2025

	Cost								Accumulated Depletion & Impairment 1						Carrying Amount Dec 31, 2025
(in thousands)	Balance Jan 1, 2025		Additions		Disposal 6		Balance Dec 31, 2025		Balance Jan 1, 2025		Depletion		Balance Dec 31, 2025		Carrying Amount Dec 31, 2025

Gold interests

Salobo	$	3,429,911	$	144,000	$	-	$	3,573,911	$	(834,426)	$	(118,775)	$	(953,201)	$	2,620,710

Sudbury 2		623,864		-		-		623,864		(382,313)		(23,057)		(405,370)		218,494

Constancia		140,058		-		-		140,058		(75,732)		(12,042)		(87,774)		52,284

San Dimas		220,429		-		-		220,429		(83,948)		(11,263)		(95,211)		125,218

Stillwater 3		239,352		-		-		239,352		(31,892)		(3,258)		(35,150)		204,202

Blackwater		340,231		-		-		340,231		-		(9,183)		(9,183)		331,048

Platreef		275,702		-		-		275,702		-		-		-		275,702

Other 4		419,174		1,110,110		(16,006)		1,513,278		(53,791)		(2,355)		(56,146)		1,457,132

	$	5,688,721	$	1,254,110	$	(16,006)	$	6,926,825	$	(1,462,102)	$	(179,933)	$	(1,642,035)	$	5,284,790

Silver interests

Peñasquito	$	524,626	$	-	$	-	$	524,626	$	(280,161)	$	(37,599)	$	(317,760)	$	206,866

Antamina		900,343		-		-		900,343		(409,572)		(31,688)		(441,260)		459,083

Constancia		302,948		-		-		302,948		(137,570)		(13,975)		(151,545)		151,403

Blackwater		140,908		30,039		-		170,947		-		(3,445)		(3,445)		167,502

Other 5		1,115,154		53,315		-		1,168,469		(593,432)		(18,150)		(611,582)		556,887

	$	2,983,979	$	83,354	$	-	$	3,067,333	$	(1,420,735)	$	(104,857)	$	(1,525,592)	$	1,541,741

Palladium interests

Stillwater 3	$	263,721	$	-	$	-	$	263,721	$	(50,542)	$	(4,287)	$	(54,829)	$	208,892

Platreef		78,814		-		-		78,814		-		-		-		78,814

	$	342,535	$	-	$	-	$	342,535	$	(50,542)	$	(4,287)	$	(54,829)	$	287,706

Platinum interests

Marathon	$	9,451	$	-	$	-	$	9,451	$	-	$	-	$	-	$	9,451

Platreef		57,584		-		-		57,584		-		-		-		57,584

	$	67,035	$	-	$	-	$	67,035	$	-	$	-	$	-	$	67,035

Cobalt interests

Voisey’s Bay	$	393,422	$	-	$	-	$	393,422	$	(162,733)	$	(14,812)	$	(177,545)	$	215,877

	$	9,475,692	$	1,337,464	$	(16,006 )	$	10,797,150	$	(3,096,112)	$	(303,889)	$	(3,400,001 )	$	7,397,149

1)	Includes cumulative impairment charges to December 31, 2025 as follows: El Alto silver interest - $338 million; Sudbury gold interest - $120 million; and Voisey’s Bay cobalt interest - $109 milli on.

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

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

Comprised of the Minto, Copper World Complex, Marmato, Santo Domingo, Fenix, Marathon, Goose, El Domo, Cangrejos, Curraghinalt, Kudz Ze Kayah, Koné, Kurmuk, Spring Valley and Hemlo gold interests. The additions to other gold interests include

Koné

- $469 million, Hemlo - $300 million, Kurmuk - $131 million, Fenix - $125 million, Spring Valley - $50 million, El Domo - $32 million, Cangrejos - $3 million and Kudz Ze Kayah - $1 million.

Comprised of Los Filos, Zinkgruvan, Stratoni, Neves-Corvo, Minto, Aljustrel, Loma de La Plata, El Alto, Copper World Complex, Marmato, Cozamin, El Domo, Mineral Park and Kudz Ze Kayah silver interests. The additions to other silver interests include Mineral Park - $40 million, El Domo - $12 million and Kudz Ze Kayah - $1 million.

6)	During Q3 2025, in connection with its acquisition of Lumina Gold Corp., CMOC exercised its 33% buy-back option under the Cangrejos PMPA.

WHEATON PRECIOUS METALS 2026 SECOND QUARTER REPORT - FINANCIAL STATEMENTS [13]

Notes to the Condensed Interim Consolidated Financial Statements

Three and Six Months Ended June 30, 2026 (US Dollars)

The value allocated to reserves is classified as depletable upon a mining operation achieving commercial production and is depleted on a

unit-of-production

basis over the estimated recoverable proven and probable reserves at the mine. The value associated with resources and exploration potential is allocated at acquisition and is classified as

non-depletable

until such time as it is transferred to the depletable category, generally as a result of the conversion of resources or exploration potential into reserves.


	June 30, 2026						December 31, 2025

(in thousands)	Depletable		Non- Depletable		Total		Depletable		Non- Depletable		Total

Gold interests

Salobo	$	2,242,490	$	326,175	$	2,568,665	$	2,294,535	$	326,175	$	2,620,710

Sudbury 1		168,974		37,093		206,067		181,401		37,093		218,494

Constancia		44,064		3,524		47,588		48,761		3,523		52,284

San Dimas		40,594		78,777		119,371		46,440		78,778		125,218

Stillwater 2		183,046		19,634		202,680		184,568		19,634		204,202

Blackwater		311,175		13,109		324,284		317,940		13,108		331,048

Platreef		-		275,702		275,702		-		275,702		275,702

Other 3		435,810		1,226,195		1,662,005		92,269		1,364,863		1,457,132

	$	3,426,153	$	1,980,209	$	5,406,362	$	3,165,914	$	2,118,876	$	5,284,790

Silver interests

Peñasquito	$	185,656	$	-	$	185,656	$	206,866	$	-	$	206,866

Antamina		2,341,942		2,366,387		4,708,329		213,280		245,803		459,083

Constancia		137,788		6,373		144,161		145,029		6,374		151,403

Blackwater		165,522		-		165,522		167,502		-		167,502

Other 4		201,815		360,335		562,150		210,203		346,684		556,887

	$	3,032,723	$	2,733,095	$	5,765,818	$	942,880	$	598,861	$	1,541,741

Palladium interests

Stillwater 2	$	198,956	$	7,488	$	206,444	$	201,404	$	7,488	$	208,892

Platreef		-		78,814		78,814		-		78,814		78,814

	$	198,956	$	86,302	$	285,258	$	201,404	$	86,302	$	287,706

Platinum interests

Marathon	$	-	$	9,451	$	9,451	$	-	$	9,451	$	9,451

Platreef		-		57,584		57,584		-		57,584		57,584

	$	-	$	67,035	$	67,035	$	-	$	67,035	$	67,035

Cobalt interests

Voisey’s Bay	$	194,878	$	11,855	$	206,733	$	204,022	$	11,855	$	215,877

	$	6,852,710	$	4,878,496	$	11,731,206	$	4,514,220	$	2,882,929	$	7,397,149

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

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

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

4)	Comprised of the Zinkgruvan, Neves-Corvo, Aljustrel, Loma de La Plata, El Alto, Copper World Complex, Marmato, Cozamin, El Domo, Mineral Park, Kudz Ze Kayah and Jervois silver interests.

WHEATON PRECIOUS METALS 2026 SECOND QUARTER REPORT - FINANCIAL STATEMENTS [14]

Notes to the Condensed Interim Consolidated Financial Statements

Three and Six Months Ended June 30, 2026 (US Dollars)

Significant acquisitions, amendments and disposals of mineral stream interests (if any) in the six months ended June 30, 2026 are outlined below. The percentage of payable production and other key PMPA terms for all mineral stream interests are described in Note 24.

Antamina

On February 16, 2026, the Company entered into a PMPA with BHP Group Limited (“BHP”) (the “BHP Antamina PMPA”) for their 33.75% portion of the silver produced at the Antamina Mine located in Peru. Effective April 1, 2026, Wheaton will receive a combined 67.5% of all the silver produced from Antamina, up from the 33.75%

being

delivered under the

pre-

existing Glencore silver stream.

Under the terms of the BHP Antamina PMPA, the Company paid BHP total upfront cash consideration of $4.3 billion on April 1, 2026, being the date of closing.

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 being 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.

13.	Early Deposit Mineral Stream Interests

Early deposit mineral stream interests represent agreements relative to early stage development projects whereby Wheaton can choose not to proceed with the agreement once certain documentation has been received including, but not limited to, feasibility studies, environmental studies and impact assessment studies (please see Note 24 for more information). Once Wheaton has elected to proceed with the agreement, the carrying value of the stream will be transferred to Mineral Stream Interests.

The following table summarizes the early deposit mineral stream interests owned by the Company as of June 30, 2026 and December 31, 2025:


											Attributable Production to be Purchased

Early Deposit Mineral Stream Interests	Mine Owner		Location of Mine		Upfront Consideration Paid to Date 1		Upfront Consideration to be Paid 1, 2		Total Upfront Consideration¹		Gold		Silver		Term of Agreement

Toroparu		Aris Mining		Guyana	$	15,500	$	138,000	$	153,500		10%		50%		Life of Mine

Cotabambas		Panoro		Peru		14,000		126,000		140,000		25% ³		100% ³		Life of Mine

Kutcho		Kutcho		Canada		16,852		58,000		74,852		100%		100%		Life of Mine

					$	46,352	$	322,000	$	368,352

1)	Expressed in thousands of United States dollars; excludes closing costs and capitalized interest, where applicable.

2)	Please refer to Note 24 for details of when the remaining upfront consideration to be paid becomes due.

3)	Once 90 million silver equivalent ounces attributable to Wheaton have been produced, the attributable production will decrease to 16.67% of gold production and 66.67% of silver production for the life of mine.

WHEATON PRECIOUS METALS 2026 SECOND QUARTER REPORT - FINANCIAL STATEMENTS [15]

Notes to the Condensed Interim Consolidated Financial Statements

Three and Six Months Ended June 30, 2026 (US Dollars)

14.	Mineral Royalty Interests

The following table summarizes mineral royalty interests owned by the Company as of June 30, 2026:

Royalty Interests

Mine
Owner

Location

of
Mine

Royalty

Upfront
Consideration
Paid to Date

Upfront
Consideration
to be Paid

Total
Upfront
Consideration

Term of
Agreement

Date of
Original
Contract

Metates

Chesapeake

Mexico

0.5% NSR

3,000

Life of Mine

07-Aug-2014

Brewery Creek

Victoria Gold

Canada

2.0% NSR

3,529

Life of Mine

04-Jan-2021

Black Pine

Liberty Gold

USA

0.5% NSR

3,600

Life of Mine

10-Sep-2023

Mt Todd

Vista

Australia

1.0% GR

20,000

Life of Mine

13-Dec-2023

DeLamar

Integra

USA

1.5% NSR

9,750

Life of Mine

20-Feb-2024

Spanish Mountain

Canada

1.5% NSR

22,500

32,500

55,000

Life of Mine

20-Apr-2026

Cipango

Japan

1.5% NSR

4,500

3,000

7,500

Life of Mine

04-Jun-2026

66,879

35,500

102,379

1)	Abbreviation as follows: NSR = Net Smelter Return Royalty; and GR = Gross Royalty.

2)	Expressed in thousands; excludes closing costs.

royalty

agreement provides, among other things, that Golden Predator Mining Corp., (subsidiary of Victoria Gold) may reduce the 2.75% net smelter royalty interest to 2.125% on payment of the sum of Cdn$2 million to the Company. On August 14, 2024, the Ontario Superior Court of Justice placed Victoria Gold Corp

into receivership following the failure of the heap leach pad at its Eagle Mine in June 2024.

4)	Liberty Gold has been granted an option to repurchase 50% of the NSR for $4 million at any point in time up to the earlier of commercial production at Black Pine or January 1, 2030.

5)	The Mt Todd royalty is at a rate of 1% of gross revenue with such rate being subject to increase to a maximum rate of 2%, depending on the timing associated with the achievement of certain operational milestones.

6)	Under the DeLamar royalty, if completion is not achieved by January 1, 2029, the DeLamar royalty will increase annually by 0.15% of net smelter returns to a maximum of 2.7% of net smelter returns.
7)	Comprised of the Hoshino, Onuki, Hasami, Bosawa, Miyata, Kato and Tashiro properties.

The following table summarizes mineral royalty interests owned by the Company as of December 31, 2025

Royalty Interests

Mine

Owner

Location

of
Mine

Royalty

Total

Upfront
Consideration

Term of
Agreement

Date of
Original
Contract

Metates

Chesapeake

Mexico

0.5% NSR

3,000

Life of Mine

07-Aug-2014

Brewery Creek

Victoria Gold

Canada

2.0% NSR

3,529

Life of Mine

04-Jan-2021

Black Pine

Liberty Gold

USA

0.5% NSR

3,600

Life of Mine

10-Sep-2023

Mt Todd

Vista

Australia

1.0% GR

20,000

Life of Mine

13-Dec-2023

DeLamar

Integra

USA

1.5% NSR

9,750

Life of Mine

20-Feb-2024

39,879

1)	Abbreviation as follows: NSR = Net Smelter Return Royalty; and GR = Gross Royalty.

2)	Expressed in thousands; excludes closing costs.

The Company paid $3 million for an existing 2.0% net smelter return royalty interests on the first 600,000 ounces of gold mined and a 2.75% net smelter returns royalty interest thereafter. The Brewery Creek royalty agreement provides, among other things, that Golden Predator Mining Corp., (subsidiary of Victoria Gold) may reduce the 2.75% net smelter royalty interest to 2.125% on payment of the sum of Cdn$2 million to the Company. On August 14, 2024, the Ontario Superior Court of Justice placed Victoria Gold Corp

into receivership following the failure of the heap leach pad at its Eagle Mine in June, 2024.

4)	Liberty Gold has been granted an option to repurchase 50% of the NSR for $4 million at any point in time up to the earlier of commercial production at Black Pine or January 1, 2030.

5)	The Mt Todd royalty is at a rate of 1% of gross revenue with such rate being subject to increase to a maximum rate of 2%, depending on the timing associated with the achievement of certain operational milestones.

6)	Under the DeLamar royalty, if completion is not achieved by January 1, 2029, the DeLamar royalty will increase annually by 0.15% of net smelter returns to a maximum of 2.7% of net smelter returns.

15.	Long-Term Equity Investments



(in thousands)	June 30 2026		December 31 2025

Common shares held	$	144,789	$	407,230

Warrants held		2,830		3,265

Total long-term equity investments	$	147,619	$	410,495

WHEATON PRECIOUS METALS 2026 SECOND QUARTER REPORT - FINANCIAL STATEMENTS [16]

Notes to the Condensed Interim Consolidated Financial Statements

Three and Six Months Ended June 30, 2026 (US Dollars)

Common Shares Held


	Three Months Ended June 30, 2026

(in thousands)	Fair Value at Mar 31, 2026		Additions		Disposals		Fair Value Adjustment Losses 1			Fair Value at Jun 30, 2026		Realized Gain (Loss) on Disposal

Held at end of period

Streaming or royalty partners	$	114,737	$	-	$	-	$	(11,511	)	$	103,226	$	-

Strategic investments		47,142		-		-		(5,579	)		41,563		-

Total	$	161,879	$	-	$	-	$	(17,090)		$	144,789	$	-

1)	Fair Value Gains (Losses) are reflected as a component of OCI.


	Three Months Ended June 30, 2025

(in thousands)	Fair Value at Mar 31, 2025		Additions		Disposals		Fair Value Adjustment Gains 1		Fair Value at Jun 30, 2025		Realized Gain on Disposal

Held at end of period

Streaming or royalty partners	$	121,799	$	-	$	-	$	39,595	$	161,394	$	-

Strategic investments		5,669		-		-		925		6,594		-

Total	$	127,468	$	-	$	-	$	40,520	$	167,988	$	-

1)	Fair Value Gains (Losses) are reflected as a component of OCI.


	Six Months Ended June 30, 2026

(in thousands)	Fair Value at Dec 31, 2025		Additions		Disposals 2			Fair Value Adjustment (Losses) Gains 1			Fair Value at Jun 30, 2026		Realized Gain (Loss) on Disposal

Held at end of period

Streaming or royalty partners	$	109,211	$	-	$	-		$	(5,985	)	$	103,226	$	-
Strategic investments		17,294		14,608		-			9,661			41,563		-

Derecognized during period

Streaming or royalty partners		273,417		-		(313,106	)		39,689			-		204,846

Strategic investments		7,308		-		(10,315	)		3,008			-		(53,327	)

Total	$	407,230	$	14,608	$	(323,421 )		$	46,373		$	144,789	$	151,519

1)	Fair Value Gains (Losses) are reflected as a component of OCI.

2)	The disposals during the quarter were made to partially fund the BHP Antamina PMPA (Note 12).


	Six Months Ended June 30, 2025

(in thousands)	Fair Value at Dec 31, 2024		Additions		Disposals		Fair Value Adjustment Gains (Losses) 1			Fair Value at Jun 30, 2025		Realized (Loss) Gain on Disposal

Held at end of period

Streaming or royalty partners	$	93,915	$	-	$	-	$	67,479		$	161,394	$	-

Strategic investments		4,275		3,117		-		(798	)		6,594		-

Total	$	98,190	$	3,117	$	-	$	66,681		$	167,988	$	-

1)	Fair Value Gains (Losses) are reflected as a component of OCI.

WHEATON PRECIOUS METALS 2026 SECOND QUARTER REPORT - FINANCIAL STATEMENTS [17]

Notes to the Condensed Interim Consolidated Financial Statements

Three and Six Months Ended June 30, 2026 (US Dollars)

The Company’s long-term investments in common shares (“LTIs”) are held for long-term strategic purposes and not for trading purposes. As such, the Company has elected to reflect any fair value adjustments, net of tax, as a component of other comprehensive income (“OCI”). The cumulative gain or loss will not be reclassified to net earnings on disposal of these long-term investments but is reclassified to retained earnings.

By holding these long-term investments, the Company is inherently exposed to various risk factors including currency risk, market price risk and liquidity risk.

16.	Credit Facilities


	June 30, 2026								December 31, 2025
(in thousands)	Revolving Facility		Term Loan			Total			Revolving Facility		Total

Current portion	$	-	$	-		$	-		$	-	$	-

Long-term portion		472,000		1,500,000			1,972,000			-		-
Gross bank debt outstanding	$	472,000	$	1,500,000		$	1,972,000		$	-	$	-

Less: unamortized debt issue costs¹		-		(2,718	)		(2,718	)		-		-

Net bank debt outstanding	$	472,000	$	1,497,282		$	1,969,282		$	-	$	-
1) In addition to the $2.7 million unamortized debt issue costs associated with the Term Loan, there is $6.0 million (December 31, 2025 - $4.7 million) unamortized debt issue costs associated with the Revolving Credit Facility which have been recorded as a long-term asset under the classification Other (see Note 23).

16.1.

Sustainability-Linked Revolving Credit Facility

On June 30, 2026, the Company expanded its unsecured revolving credit facility (the “Revolving

Credit

Facility”) by $500 million to $2.5 billion, in addition to extending the maturity date by an additional year to June 30, 2031. Additionally, the Company has a $500

million accordion feature. The Revolving Credit Facility includes sustainability-linked features and a financial covenant requiring a capitalization ratio

≤

0.60:1, with which the Company was in compliance as at June 30, 2026 and 2025. Interest on drawn amounts is based on the Company’s leverage ratio at SOFR +

1.10

% to

2.15

%. The standby fee was

0.1966

% (2025 –

0.1966

%).

The Revolving Credit Facility, which is classified as a financial liability and reported at amortized cost using the effective interest method, can be drawn down at any time to finance acquisitions, investments or for general corporate purposes.

16.2.

Term Loan

On April 1, 2026, the Company entered into a new unsecured $1.5 billion

non-revolving

term loan credit facility

(the “Term Loan”)

, which

carries a

two-year

maturity

and otherwise aligns with the terms of the Company’s existing Revolving Credit Facility. The Term Loan may be repaid at any time without penalty.

16.3.

Lease Liabilities

The lease liability on the Company’s offices located in Vancouver, Canada and the Cayman Islands is as follows:



(in thousands)	June 30 2026		December 31 2025

Current portion	$	586	$	575

Long-term portion		6,882		7,330

Total lease liabilities	$	7,468	$	7,905

The maturity analysis, on an undiscounted basis, of these leases is as follows:


(in thousands)	June 30 2026

Not later than 1 year	$	983

Later than 1 year and not later than 5 years		4,152

Later than 5 years		4,287

Total lease liabilities	$	9,422

WHEATON PRECIOUS METALS 2026 SECOND QUARTER REPORT - FINANCIAL STATEMENTS [18]

Notes to the Condensed Interim Consolidated F

ancial

ateme

nts

Three and Six Months Ended June 30, 2026 (US Dollars)

16.4.

Finance Costs

A summary of the Company’s finance costs associated with the above facilities during the period is as follows:


			Three Months Ended June 30				Six Months Ended June 30

(in thousands)	Note		2026		2025		2026		2025

Interest Expense During Period
Average principal outstanding during period			$	2,380,000	$	-	$	1,190,000	$	-
Average effective interest rate during period		16		5.09%		n.a.		5.09%		n.a.
Total interest expense incurred during period			$	30,309	$	-	$	30,309	$	-
Costs related to undrawn credit facilities		16	$	687	$	1,317	$	1,991	$	2,667
Interest expense - lease liabilities		16. 3		101		110		202		201

Total finance costs			$	31,097	$	1,427	$	32,502	$	2,868

17.	Issued Capital



(in thousands)	Note		June 30 2026		December 31 2025

Issued capital

Share capital issued and outstanding: 454,159,968 common shares (December 31, 2025: 454,033,830 common shares)		17.1	$	3,825,005	$	3,814,910

17.1.

Shares Issued

The Company is authorized to issue an unlimited number of common shares having no par value and an unlimited number of preference shares issuable in series. As at June 30, 2026 and 2025, the Company had no preference shares outstanding.

17.2.

Dividends Declared


	Three Months Ended June 30				Six Months Ended June 30

(in thousands, except per share amounts)	2026		2025		2026		2025

Dividends declared per share	$	0.195	$	0.165	$	0.390	$	0.330

Average number of shares eligible for dividend		454,133		453,933		454,116		453,878

Total dividends declared	$	88,556	$	74,899	$	177,105	$	149,780

1)	The Company has implemented a DRIP whereby shareholders can elect to have dividends reinvested directly into additional Wheaton common shares.

WHEATON PRECIOUS METALS 2026 SECOND QUARTER REPORT - FINANCIAL STATEMENTS [19]

Notes to the Condensed Interim Consolidated Financial Statements

Three and Six Months Ended June 30, 2026 (US Dollars)

18.

Reserves



(in thousands)	Note		June 30 2026		December 31 2025

Reserves
Share purchase options		18.1	$	25,453	$	24,381
Restricted share units		18.2		7,511		7,929
Long-term investment revaluation reserve, net of tax		18.3		53,570		144,601

Total reserves			$	86,534	$	176,911

18.1.

Share Purchase Options

The Company has established an equity settled share purchase option plan whereby the Company’s Board of Directors may, from time to time, grant options to employees or consultants. The maximum term of any share purchase option may be ten years, but generally options are granted with a term to expiry of seven years. The exercise price of an option is not less than the closing price on the TSX on the last trading day preceding the grant date. The vesting period of the options is determined at the discretion of the Company’s Board of Directors at the time the options are granted, but generally vest over a period of three years.

Each share purchase option converts into one common share of Wheaton on exercise. No amounts are paid or payable by the recipient on receipt of the option. The options do not carry rights to dividends or voting rights. Options may be exercised at any time from the date of vesting to the date of their expiry, subject to certain

black-out

periods.

The Company expenses the fair value of share purchase options that are expected to vest on a straight-line basis over the vesting period using the Black-Scholes option pricing model to estimate the fair value for each option at the date of grant. The Black-Scholes model was developed for use in estimating the fair value of traded options that have no vesting restrictions. The model requires the use of subjective assumptions, including expected share price volatility. Historical data has been considered in setting the assumptions. Expected volatility is determined by considering the trailing

36-month

historic average share price volatility. The weighted average fair value of share purchase options granted and pri

ipal assumptions used in applying the Black-Scholes option pricing model are as follows:


	Six Months Ended June 30

	2026		2025

Black-Scholes weighted average assumptions

Grant date share price and exercise price		Cdn$190.62		Cdn$108.56

Expected dividend yield		0.65%		0.92%

Expected volatility		30%		30%

Risk-free interest rate		3.05%		2.89%

Expected option life, in years		3.0		3.0

Weighted average fair value per option granted		Cdn$43.34		Cdn$23.90

Number of options issued during the period		95,290		178,020

Total fair value of options issued (000’s)	$	3,020	$	2,974

WHEATON PRECIOUS METALS 2026 SECOND QUARTER REPORT - FINANCIAL STATEMENTS [20]

Notes to the Condensed Interim Consolidated Financial Statements

Three and Six Months Ended June 30, 2026 (US Dollars)

The following table summarizes information about the options outstanding and exercisable at June 30, 2026:


Exercise Price (Cdn$)	Exercisable Options		Non-Exercisable Options		Total Options Outstanding		Weighted Average Remaining Contractual Life

$49.86		157,570		-		157,570		1.7 years

$56.77¹		6,214		-		6,214		1.7 years

$66.73¹		15,650		-		15,650		2.7 years

$60.00		163,703		-		163,703		2.7 years

$61.49¹		27,107		-		27,107		3.7 years

$59.41		204,627		-		204,627		3.7 years

$62.74¹		33,182		21,513		54,695		4.7 years

$59.79		128,091		69,748		197,839		4.7 years

$108.56		45,453		92,010		137,463		5.7 years

$107.84¹		10,536		25,156		35,692		5.7 years

$190.62		-		73,090		73,090		6.7 years

$198.07¹		-		22,200		22,200		6.7 years

		792,133		303,717		1,095,850		4.1 years

1)	US$ share purchase options converted to Cdn$ using the exchange rate of 1.4210, being the Cdn$/US$ exchange rate at June 30, 2026.

A continuity schedule of the Company’s outstanding share purchase options from January 1, 2025 to June 30, 2026 is presented below:


	Number of Options Outstanding		Weighted Average Exercise Price

At January 1, 2025		1,070,974		Cdn$58.14

Granted (fair value - $3 million or Cdn$23.90 per option)		178,020		108.56

Exercised		(62,041)		55.90

Forfeited		(24,410)		59.76

At March 31, 2025		1,162,543		Cdn$65.95

Exercised		(50,229)		54.62

At June 30, 2025		1,112,314		Cdn$65.86

Exercised		(66,219)		58.53

Expired		(2,186)		49.86

Forfeited		(8,593)		97.83

At December 31, 2025		1,035,316		Cdn$66.40

Granted (fair value - $3 million or Cdn$43.34 per option)		95,290		190.62

Exercised		(17,064)		59.65

At March 31, 2026		1,113,542		Cdn$77.37

Exercised		(17,046)		65.22

Forfeited		(646)		85.91

At June 30, 2026		1,095,850		Cdn$77.80

As it relates to share purchase options, during the three months ended June 30, 2026, the weighted average share price at the time of exercise was Cdn$189.28 per share (six months—Cdn$182.16 per share), as compared to Cdn$116.13 per share (six months - Cdn$112.17 per share) during the comparable period in 2025.

WHEATON PRECIOUS METALS 2026 SECOND QUARTER REPORT - FINANCIAL STATEMENTS [21]

Notes to the Condensed Interim Consolidated Financial Statements

Three and Six Months Ended June 30, 2026 (US Dollars)

18.2.

Restricted Share Units (“RSUs”)

The Company has established an RSU plan whereby RSUs will be issued to eligible employees or directors as determined by the Company’s Board of Directors or the Company’s Compensation Committee. RSUs give the holder the right to receive a specified number of common shares at the specified vesting date. RSUs generally vest over a period of three years. Compensation expense related to RSUs is recognized over the vesting period based upon the fair value of the Company’s common shares on the grant date and the awards that are expected to vest. The fair value is calculated with reference to the closing price of the Company’s common shares on the TSX on the business day prior to the date of grant.

RSU holders receive a cash payment based on the dividends paid on the Company’s common shares in the event that the holder of a vested RSU has elected to defer the release of the RSU to a future date. This cash payment is reflected as a component of net earnings under the classification Share Based Compensation.

A continuity schedule of the Company’s restricted share units outstanding from January 1, 2025 to June 30, 2026 is presented below:


	Number of RSUs Outstanding		Weighted Average Intrinsic Value at Date Granted

At January 1, 2025		336,929		$34.64

Granted (fair value - $4 million)		52,960		75.92

Released		(69,129)		44.78

Forfeited		(5,384)		43.86

At March 31, 2025		315,376		$39.19

Released		(72,396)		22.89

At June 30, 2025		242,980		$44.04

Forfeited		(1,100)		55.85

At December 31, 2025		241,880		$43.99

Granted (fair value - $4 million)		30,480		139.35

Released		(46,442)		50.81

At March 31, 2026		225,918		$55.45

Released		(370)		50.26

Forfeited		(141)		60.81

At June 30, 2026		225,407		$55.46

18.3.

Long-Term Investment Revaluation Reserve

The Company’s long-term investments in common shares (Note 15) are held for long-term strategic purposes and not for trading purposes. The Company has chosen to designate these long-term investments in common shares as financial assets with fair value adjustments being recorded as a component of OCI as it believes that this provides a more meaningful presentation for long-term strategic investments, rather than reflecting changes in fair value as a component of net earnings. As some of these long-term investments are denominated in Canadian dollars, changes in their fair value is affected by both the change in share price in addition to changes in the Cdn$/US$ exchange rate.

Where the fair value of a long-term investment in common shares held exceeds its tax cost, the Company recognizes a deferred income tax liability. To the extent that the value of the long-term investment subsequently declines, the deferred income tax liability is reduced. However, where the fair value of the long-term investment decreases below the tax cost, the Company does not recognize a deferred income tax asset on the unrealized capital loss unless it is probable that the Company will generate future capital gains that will offset the loss.

WHEATON PRECIOUS METALS 2026 SECOND QUARTER REPORT - FINANCIAL STATEMENTS [22]

Notes to the Condensed Interim Consolidated Financial Statements

Three and Six Months Ended June 30, 2026 (US Dollars)

A continuity schedule of the Company’s long-term investment revaluation reserve from January 1, 2025 to June 30, 2026 is presented below:


(in thousands)	Change in Fair Value		Deferred Tax Recovery (Expense)		Total

At January 1, 2025	$	(95,675)	$	(48)	$	(95,723)

Unrealized gain (loss) on LTIs 1		26,161		(2,351)		23,810

At March 31, 2025	$	(69,514)	$	(2,399)	$	(71,913)

Unrealized gain (loss) on LTIs 1		40,520		(3,945)		36,575

At June 30, 2025	$	(28,994)	$	(6,344)	$	(35,338)

Unrealized gain (loss) on LTIs 1		196,046		(16,107)		179,939

At December 31, 2025	$	167,052	$	(22,451)	$	144,601

Unrealized gain (loss) on LTIs 1		63,463		(8,567)		54,896

Reallocate reserve to retained earnings upon disposal of LTIs 1		(151,519)		20,375		(131,144)

At March 31, 2026	$	78,996	$	(10,643)	$	68,353

Unrealized gain (loss) on LTIs 1		(17,090)		2,307		(14,783)

At June 30, 2026	$	61,906	$	(8,336)	$	53,570

1)	LTIs refers to long-term investments in common shares held.

19.	Share Based Compensation

The Company’s share based compensation consists of share purchase options (Note 18.1), restricted share units (Note 18.2) and performance share units (Note 19.1). The accrued value of share purchase options and restricted share units are reflected as reserves in the shareholder’s equity section of the Company’s balance sheet while the accrued value associated with performance share units is reflected as an accrued liability.

19.1.

Performance Share Units (“PSUs”)

The Company has established a Performance Share Unit Plan (“the PSU plan”) whereby PSUs will be issued to eligible employees as determined by the Company’s Board of Directors or the Company’s Compensation Committee. PSUs issued under the PSU plan entitle the holder to a cash payment at the end of a three year performance period equal to the number of PSUs granted, multiplied by a performance factor and multiplied by the fair market value of a Wheaton common share on the expiry of the performance period. The performance factor can range from 0% to 200% and is determined by comparing the Company’s total shareholder return (“TSR”) to those achieved by various peer companies and the price of gold and silver.

Compensation expense for the PSUs is recorded on a straight-line basis over the three year vesting period. The amount of compensation expense is adjusted at the end of each reporting period to reflect (i) the fair value of common shares; (ii) the number of PSUs anticipated to vest; and (iii) the anticipated performance factor.

WHEATON PRECIOUS METALS 2026 SECOND QUARTER REPORT - FINANCIAL STATEMENTS [23]

Notes to the Condensed Interim Consolidated Financial Statements

Three and Six Months Ended June 30, 2026 (US Dollars)

A continuity schedule of the Company’s outstanding PSUs (assuming a performance factor of 100% is achieved over the performance period) and the Company’s PSU accrual from January 1, 2025 to June 30, 2026 is presented below:


(in thousands, except for number of PSUs outstanding)	Number of PSUs Outstanding		PSU accrual liability

At January 1, 2025	378,970	$	25,084
Granted	78,390		-
Accrual related to the fair value of the PSUs outstanding	-		10,796
Foreign exchange adjustment	-		87
Paid	(118,240)		(17,209)
Forfeited	(890)		(40)
At March 31, 2025	338,230	$	18,718
Accrual related to the fair value of the PSUs outstanding	-		8,153
Foreign exchange adjustment	-		838
At June 30, 2025	338,230	$	27,709
Accrual related to the fair value of the PSUs outstanding	-		7,403
Foreign exchange adjustment	-		(10)
Forfeited	(3,560)		(283)
At December 31, 2025	334,670	$	34,819
Granted	43,340		-
Accrual related to the fair value of the PSUs outstanding	-		8,472
Foreign exchange adjustment	-		(312)
Paid	(123,700)		(29,257)
Forfeited	(230)		(6)
At March 31, 2026	254,080	$	13,716
Accrual related to the fair value of the PSUs outstanding	-		3,062
Foreign exchange adjustment	-		(205)

At June 30, 2026	254,080	$	16,573

A summary of the PSUs outstanding at June 30, 2026 is as follows:


Year of Grant		Year of Maturity		Number Outstanding		Estimated Value Per PSU at Maturity		Anticipated Performance Factor at Maturity		Percent of Service Period Completed at Jun 30, 2026		PSU Liability at Jun 30, 2026
	2024		2027		133,400		$118.40		123%		78%	$	15,186
	2025		2028		77,340		$99.97		23%		50%		908
	2026		2029		43,340		$116.10		99%		10%		479

					254,080							$	16,573

20.	Earnings per Share (“EPS”) and Diluted Earnings per Share (“Diluted EPS”)

Diluted earnings per share is calculated using the treasury method which assumes that outstanding share purchase options, with exercise prices that are lower than the average market price of the Company’s common shares for the relevant period, are exercised and the proceeds are used to purchase shares of the Company at the average market price of the common shares for the relevant period.

WHEATON PRECIOUS METALS 2026 SECOND QUARTER REPORT - FINANCIAL STATEMENTS [24]

Notes to the Condensed Interim Consolidated Financial Statements

Three and Six Months Ended June 30, 2026 (US Dollars)

Diluted EPS is calculated based on the following weighted average number of shares outstanding:


	Three Months Ended June 30				Six Months Ended June 30

(in thousands)	2026		2025		2026		2025

Basic weighted average number of shares outstanding		454,133		453,889		454,089		453,791

Effect of dilutive securities

Share purchase options		632		497		651		456

Restricted share units		226		277		233		303

Diluted weighted average number of shares outstanding		454,991		454,663		454,973		454,550



The following table lists the number of share purchase options excluded from the computation of diluted earnings per share because the exercise prices exceeded the average market value of the common shares of Cdn$179.85 (six months - Cdn$185.20), compared to Cdn$116.72 (six months - Cdn$106.13) for the comparable period in 2025.
	Three Months Ended June 30				Six Months Ended June 30

(in thousands)	2026		2025		2026		2025

Share purchase options		95		-		95		139

21.	Supplemental Cash Flow Information

Change in

Non-Cash

Working Capital



	Three Months Ended June 30				Six Months Ended June 30

(in thousands)	2026		2025		2026		2025

Change in non-cash working capital

Accounts receivable	$	(8,442)	$	(7,316)	$	19,580	$	(8,722)

Accounts payable and accrued liabilities		437		999		(8,622)		(5,600)

Other		(863)		(392)		(1,050)		(128)

Total change in non-cash working capital	$	(8,868)	$	(6,709)	$	9,908	$	(14,450)

WHEATON PRECIOUS METALS 2026 SECOND QUARTER REPORT - FINANCIAL STATEMENTS [25]

Notes to the Condensed Interim Consolidated Financial Statements

Three and Six Months Ended June 30, 2026 (US Dollars)

Cash and Cash Equivalents


(in thousands)	June 30 2026		December 31 2025
Cash and cash equivalents comprised of:

Cash	$	100,192	$	999,311

Cash equivalents		-		154,282

Total cash and cash equivalents	$	100,192	$	1,153,593

Cash equivalents include short-term deposits, treasury bills, bankers’ depository notes and bankers’ acceptances with terms to maturity at inception of less than three months.

22.	Income Taxes

A summary of the Company’s income tax expense (recovery) is as follows:

Income Tax Expense (Recovery) in Net Earnings


	Three Months Ended June 30				Six Months Ended June 30

(in thousands)	2026		2025		2026		2025
Current income tax expense (recovery)	$	(3,273)	$	28	$	(11,581)	$	72
Global minimum income tax expense		90,156		49,634		186,599		94,700

Total current income tax expense	$	86,883	$	49,662	$	175,018	$	94,772

Total deferred income tax expense (recovery)		14,913		(3,928)		35,858		(6,259)

Total income tax expense recognized in net earnings	$	101,796	$	45,734	$	210,876	$	88,513

Effective tax rate		16%		14%		16%		14%

23.	Other Long-Term Assets

The composition of other long-term assets is shown below:



(in thousands)	Note		June 30 2026		December 31 2025

Intangible assets			$	929	$	1,120

Debt issue costs - Revolving Credit Facility		16.1		6,024		4,702

Refundable deposit - 777 PMPA				10,564		10,163

Loans receivable				10,000		-
Other				536		542

Total other long-term assets			$	28,053	$	16,527

Refundable Deposit – 777 PMPA

On August 8, 2012, the Company entered into a PMPA with Hudbay in respect to the 777 mine. Under the terms of the 777 PMPA, should the market value of gold and silver delivered to Wheaton through the initial 40 year term of the contract, net of the per ounce cash payment, be lower than the initial $455 million upfront consideration, the Company is entitled to a refund of the difference (the “Refundable Deposit”) at the conclusion of the 40 year term. On June 22, 2022, Hudbay announced that mining activities at the 777 mine have concluded after the reserves were depleted and closure activities have commenced. The undiscounted balance of the Refundable Deposit is $78 million.

WHEATON PRECIOUS METALS 2026 SECOND QUARTER REPORT - FINANCIAL STATEMENTS [26]

Notes to the Condensed Interim Consolidated Financial Statements

Three and Six Months Ended June 30, 2026 (US Dollars)

24.	Contractual Obligations and Commitments

Mineral Stream Interests

The following tables summarize the Company’s commitments to make per ounce or per pound cash payments for gold, silver, palladium, platinum and cobalt to which it has the contractual right pursuant to the PMPAs:

Per Ounce Cash Payment for Gold



Mineral Stream Interests	Attributable Payable Production to be Purchased			Per Ounce Cash Payment 1			Term of Agreement			Date of Original Contract
Constancia		50%		$	429	2		Life of Mine			8-Aug-12
Salobo		75%		$	433			Life of Mine			28-Feb-13
Sudbury		70%		$	400			20 years			28-Feb-13
San Dimas		variable	³	$	650			Life of Mine			10-May-18
Stillwater		100%			18%	4		Life of Mine			16-Jul-18
Blackwater		8%	5		35%			Life of Mine			13-Dec-21
Platreef		62.5%	5	$	100	5		Life of Mine	5		7-Dec-21	7
Other
Copper World		100%		$	450			Life of Mine			10-Feb-10
Marmato		10.5%	5		18%	4		Life of Mine			5-Nov-20
Santo Domingo		100%	5		18%	4		Life of Mine			24-Mar-21
Fenix		22%	6		20%			Life of Mine			15-Nov-21
El Domo		50%	5		18%	4		Life of Mine			17-Jan-22
Marathon		100%	5		18%	4		Life of Mine			26-Jan-22
Goose		2.78%	5		18%	4		Life of Mine			8-Feb-22
Cangrejos		4.4%	5		18%	4		Life of Mine			16-May-23
Curraghinalt		3.05%	5		18%	4		Life of Mine			15-Nov-23
Kudz Ze Kayah		7.375%	5		20%			Life of Mine			22-Dec-21	7
Koné		19.5%	5		20%	8		Life of Mine			23-Oct-24
Kurmuk		6.7%	5		15%			Life of Mine			5-Dec-24
Spring Valley		8%	5		20%	4		Life of Mine			6-Nov-25
Hemlo		10.13%	5		20%			Life of Mine			26-Nov-25
Jervois		75%	5		20%			Life of Mine			1-Apr-26
Early Deposit
Toroparu		10%		$	400			Life of Mine			11-Nov-13
Cotabambas		25%	5	$	450			Life of Mine			21-Mar-16
Kutcho		100%			20%			Life of Mine			14-Dec-17

The production payment is measured as either a fixed amount per ounce of gold delivered, or as a percentage of the spot price of gold on the date of delivery. Contracts where the payment is a fixed amount per ounce of gold delivered are subject to an annual inflationary increase, with the exception of Sudbury. Additionally, should the prevailing market price for gold be lower than this fixed amount, the per ounce cash payment will be reduced to the prevailing market price, subject to an annual inflationary factor.

2)	Subject to an increase to $550 per ounce of gold after the initial 40-year term.

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. Currently, the fixed gold to silver exchange ratio is 70:1.

4)	To be increased to 22% once the market value of all metals delivered to Wheaton, net of the per ounce cash payment, exceeds the initial upfront cash deposit.

5)	Under certain PMPAs, the Company’s attributable gold percentage will be reduced once certain thresholds are achieved:

Blackwater – reduced to 4% once the Company has received 464,000 ounces of gold.

Platreef – reduced to 50% once the Company has received 218,750 ounces of gold, with a further reduction to 3.125% once the Company has received 428,300 ounces, at which point the per ounce cash payment increases to 80% of the spot price of gold. If certain thresholds are met, including if production through the Platreef project concentrator achieves 5.5 Mtpa, the 3.125% residual gold stream will terminate.

Marmato – reduced to 5.25% once Wheaton has received 310,000 ounces of gold.

Santo Domingo – reduced to 67% once the Company has received 285,000 ounces of gold.

El Domo – reduced to 33% once the Company has received 145,000 ounces of gold.

Marathon – reduced to 67% once the Company has received 150,000 ounces of gold.

Goose – reduced to 1.44% once the Company has received 87,100 ounces of gold, with a further reduction to 1% once the Company has received 134,000 ounces.

Cangrejos – reduced to 2.9% once the Company has received 469,000 ounces of gold.

Curraghinalt – reduced to 1.5% once the Company has received 125,000 ounces of gold.

Koné – reduced to 10.8% once the Company has received 400,000 ounces of gold, subject to adjustment if there are delays in deliveries relative to an agreed schedule, with a further reduction to 5.4% once the Company has received an additional 130,000 ounces of gold.

Kurmuk – reduced to 4.8% once the Company has received 220,000 ounces of gold. During any period in which debt exceeding $150 million ranks ahead of the gold stream, the stream percentage increases to 7.15% and decreases to 5.25% once the drop down threshold is reached.

Kudz Ze Kayah – reduced to 6.125% once the Company has received 330,000 ounces of gold, with a further reduction to 5.5% until the Company has received an additional 59,800 ounces of gold, with a further reduction to 5.5% until the Company has received an additional 270,200 ounces of gold, thereafter increased to 6.75%.

Cotabambas – reduced to 16.67% once the Company has received 90 million silver equivalent ounces.

Spring Valley – reduced to 6% once the Company has received 300,000 ounces of gold.

WHEATON PRECIOUS METALS 2026 SECOND QUARTER REPORT - FINANCIAL STATEMENTS [27]

Notes to the Condensed Interim Consolidated Financial Statements

Three and Six Months Ended June 30, 2026 (US Dollars)

Hemlo – reduced to 6.75% once the Company has received 135,750 ounces of gold (the “First Dropdown Threshold”), with a further reduction to 4.5% once the Company has received an additional 117,998 ounces of gold (the “Second Dropdown Threshold”), at which point this rate will apply for the life of the mine. Each of the First Dropdown Threshold and the Second Dropdown Threshold will be subject to adjustment if there are delays in deliveries relative to an agreed schedule, and commencing in 2033, if deliveries fall behind the agreed schedule by

10,000

ounces or more, the stream percentage will be increased by 5% until deliveries catch up with the agreed schedule. The payable gold will be reduced by half with respect to gold production from certain claims comprising the Interlake deposit.

Jervois – reduced to 37.5% once the Company has received 45,000 ounces of gold (the “First Dropdown Threshold”), with a further reduction to 25% once the Company has received an additional 15,000 ounces of gold (the “Second Dropdown Threshold”), at which point this rate will apply for the life of the mine. Each of the First Dropdown Threshold and the Second Dropdown Threshold will be subject to adjustment if there are delays in deliveries relative to an agreed schedule.

On October 21, 2024, the Company amended the Fenix PMPA. Under the original agreement, the Company was to acquire an amount of gold equal to 6% of the gold production until 90,000 ounces have been delivered, 4% of the gold production until the delivery of a further 140,000 ounces and 3.5% gold production thereafter for the life of mine. Under the revised agreement, the Company is entitled to purchase an additional 16% of payable gold production (22% in total) (subject to adjustment if there are delays in deliveries relative to an agreed schedule). Once Rio2 delivers the incremental 95,000 ounces (as adjusted), the stream reverts to the percentages and thresholds under the original Fenix PMPA (as described). Rio2 has a

one-time

option to terminate the requirement to deliver the incremental gold production from the end of 2027 until the end of 2029 by delivering 95,000 ounces (as adjusted) less previously delivered gold ounces, excluding those gold ounces which would have been delivered under the original Fenix PMPA.

7)	On February 27, 2024, the Company closed the Orion Purchase Agreement to acquire the Platreef and Kudz Ze Kayah PMPAs .

8)	Until October 23, 2029, there is a price adjustment mechanism under the Koné PMPA

if the spot price of gold is less than $2,100 per ounce, the Company will pay 20% of $2,100 less 25% of the difference between $2,100 and $1,800, less 30% of the difference between $1,800 and the spot price of gold; and

if the spot price is greater than $2,700 per ounce, the Company will pay 25% of the difference between $3,000 and $2,700, plus 30% of the difference between the actual spot price of gold and $3,000.

Per Ounce Cash Payment for Silver



Mineral Stream Interests	Attributable Payable Production to be Purchased			Per Ounce Cash Payment 1			Term of Agreement		Date of Original Contract
Peñasquito		25%		$	4.62			Life of Mine		24-Jul-07
Constancia		100%		$	6.32	²		Life of Mine		8-Aug-12
Antamina		67.5%	5		20%			Life of Mine		3-Nov-15
Blackwater		50%	5		18%	7		Life of Mine		13-Dec-21
Other
Los Filos		100%		$	4.81			25 years		15-Oct-04
Zinkgruvan		100%		$	4.81			Life of Mine		8-Dec-04
Stratoni		100%		$	11.54			Life of Mine		23-Apr-07
Neves-Corvo		100%		$	4.60			50 years		5-Jun-07
Aljustrel		100%	3		50%			50 years		5-Jun-07
El Alto		25%		$	3.90			Life of Mine		8-Sep-09
Copper World		100%		$	3.90			Life of Mine		10-Feb-10
Loma de La Plata		12.5%		$	4.00			Life of Mine		n/a	4
Marmato		100%	5		18%	6		Life of Mine		5-Nov-20
Cozamin		50%	5		10%			Life of Mine		11-Dec-20
El Domo		75%			18%	6		Life of Mine		17-Jan-22
Mineral Park		100%			18%	6		Life of Mine		24-Oct-23
Kudz Ze Kayah		7.375%	5		20%			Life of Mine		22-Dec-21	7
Jervois		75%	5		20%			Life of Mine		1-Apr-26
Early Deposit
Toroparu		50%		$	3.90			Life of Mine		11-Nov-13
Cotabambas		100%	5	$	5.90			Life of Mine		21-Mar-16
Kutcho		100%			20%			Life of Mine		14-Dec-17

The production payment is measured as either a fixed amount per unit of silver delivered, or as a percentage of the spot price of silver on the date of delivery. Contracts where the payment is a fixed amount per ounce of silver delivered are subject to an annual inflationary increase, with the exception of Loma de La Plata. Additionally, should the prevailing market price for silver be lower than this fixed amount, the per ounce cash payment will be reduced to the prevailing market price, subject to an annual inflationary factor.

2)	Subject to an increase to $9.90 per ounce of silver after the initial 40-year term.

3)	Wheaton only has the rights to silver contained in concentrate containing less than 15% copper at the Aljustrel mine.

4)	Terms of the agreement not yet finalized.

5)	Under certain PMPAs, the Company’s attributable silver percentage will be reduced once certain thresholds are achieved:

Antamina – reduced to 45%, comprised of 22.5% once the Company has received 140 million ounces of silver under the Glencore Antamina PMPA and 22.5% once the Company has received 100 million ounces of silver under the BHP Antamina PMPA, respectively.

Blackwater – reduced to 33% once the Company has received 17.8 million ounces of silver.

Marmato – reduced to 50% once the Company has received 2.15 million ounces of silver.

Cozamin – reduced to 33% once the Company has received 10 million ounces of silver.

Cotabambas – reduced to 66.67% once the Company has received 90 million silver equivalent ounces.

Kudz Ze Kayah – reduced to 6.125% once the Company has received 43.30 million ounces of silver, with a further reduction to 5.5% until the Company has received an additional 7.96 million ounces of silver, with a further reduction to 5.5% until the Company has received an additional 35.34 million ounces of silver, thereafter increased to 6.75%.

Jervois – reduced to 37.5% once the Company has received 4.3 million ounces (“Moz”) of silver (the “First Dropdown Threshold”), with a further reduction to 25% once the Company has received an additional 1.7 Moz of silver (the “Second Dropdown Threshold”), at which point this rate will apply for the life of the mine. Each of the First Dropdown Threshold and the Second Dropdown Threshold will be subject to adjustment if there are delays in deliveries relative to an agreed schedule.

6)	To be increased to 22% once the total market value of all metals delivered to the Company, net of the per ounce cash payment, exceeds the initial upfront cash deposit.

7)	On February 27, 2024, the Company closed the Orion Purchase Agreement to acquire the Platreef and Kudz Ze Kayah PMPAs.

WHEATON PRECIOUS METALS 2026 SECOND QUARTER REPORT - FINANCIAL STATEMENTS [28]

Notes to the Condensed Interim Consolidated Financial Statements

Three and Six Months Ended June 30, 2026 (US Dollars)

Per Ounce Cash Payment for Palladium and Platinum and Per Pound for Cobalt

Mineral Stream Interests

Attributable
Payable
Production to be
Purchased

Per Unit of
Measurement Cash
Payment

Term of
Agreement

Date of
Original
Contract

Palladium

Stillwater

4.5% ²

18% ³

Life of Mine

16-Jul-18

Platreef

5.25% ²

30% ²

Life of Mine ²

7-Dec-21

Platinum

Marathon

22% ²

18% ³

Life of Mine

26-Jan-22

Platreef

5.25% ²

30% ²

Life of Mine ²

7-Dec-21

Cobalt

Voisey’s Bay

42.4% ²

18% ³

Life of Mine

11-Jun-18

1)	The production payment is measured as either a fixed amount per unit of metal delivered, or as a percentage of the spot price of the underlying metal on the date of delivery.

2)	Under certain PMPAs, the Company’s attributable metal percentage will be reduced once certain thresholds are achieved:

Stillwater – reduced to 2.25% once the Company has received 375,000 ounces of palladium, with a further reduction to 1% once the Company has received 550,000 ounces.

Platreef – reduced to 3% once the Company has received 350,000 ounces of combined palladium and platinum, with a further reduction to 0.1% once the Company has received a combined 485,115 ounces, at which point the per ounce cash payment increases to 80% of the spot price of palladium and platinum. If certain thresholds are met, including if production through the Platreef project concentrator achieves 5.5 Mtpa, the 0.1% residual palladium and platinum stream will terminate.

Marathon – reduced to 15% once the Company has received 120,000 ounces of platinum.

Voisey’s Bay – reduced to 21.2% once the Company has received 31 million pounds of cobalt.

3)	To be increased to 22% once the market value of all metals delivered to Wheaton, net of the per unit cash payment, exceeds the initial upfront cash deposit.

4)	On February 27, 2024, the Company closed the Orion Purchase Agreement to acquire the Platreef and Kudz Ze Kayah PMPAs.

WHEATON PRECIOUS METALS 2026 SECOND QUARTER REPORT - FINANCIAL STATEMENTS [29]

Notes to the Condensed Interim Consolidated Financial Statements

Three and Six Months Ended June 30, 2026 (US Dollars)

Other Contractual Obligations and Commitments


	Projected Payment Dates 1

(in thousands)	2026		2027 - 2028		2029 - 2030		After 2030		Total

Bank debt 2	$	-	$	1,500,000	$	-	$	472,000	$	1,972,000

Interest 3		49,411		161,628		34,191		-		245,230

Payments for mineral stream interests, early deposit mineral stream interest & royalties

Salobo		-		8,000		16,000		56,000		80,000

Copper World 4		-		231,151		-		-		231,151

Marmato		41,968		-		-		-		41,968

Santo Domingo		-		290,000		-		-		290,000

El Domo		43,875		87,750		-		-		131,625

Marathon		-		98,522		42,224		-		140,746

Cangrejos		-		-		168,840		-		168,840

Curraghinalt		-		-		-		55,000		55,000

Loma de La Plata		-		-		-		32,400		32,400

Spring Valley		210,000		360,000		-		-		570,000

Kudz Ze Kayah		-		15,000		-		-		15,000

Jervois		16,000		243,000		-		-		259,000

Cotabambas		-		-		-		126,000		126,000

Toroparu		-		-		-		138,000		138,000

Kutcho		-		-		-		58,000		58,000

Spanish Mountain		-		32,500		-		-		32,500

Cipango		-		3,000		-		-		3,000
Equity Investment Commitment(s)		23,115		-		-		-		23,115
Leases liabilities		516		2,010		2,099		4,797		9,422

Total contractual obligations	$	384,885	$	3,032,561	$	263,354	$	942,197	$	4,622,997

1)	Projected payment date based on management estimate. Dates may be updated in the future as additional information is received.

2)	At June 30, 2026, the Company had $472 million and $1.5 billion drawn and outstanding on the Revolving Credit Facility and the Term Loan, respectively.

As the applicable interest rates are floating in nature, the interest charges are estimated based on market-based forward interest rate curves at the end of the reporting period combined with the assumption that the principal balance outstanding at June 30, 2026 does not change until the debt maturity date.

4)	Figure includes contingent transaction costs of $1 million.

Salobo

The Company will be required to make annual payments of $8 million over a

10-year

period, if the Salobo mine implements a high-grade mine plan. Payments will be made for each year in which the high-grade plan is achieved.

Copper World Complex

The Company is committed to pay Hudbay total upfront cash payments of $230 million in two installments, with the first $50 million being advanced upon Hudbay’s receipt of permitting for the Copper World Complex and other customary conditions and the balance of $180 million being advanced once project costs incurred on the Copper World Complex exceed $98 million and certain other customary conditions. Under the Copper World Complex PMPA, the Company is permitted to elect to pay the deposit in cash or the delivery of common shares. Additionally, the Company will be entitled to certain delay payments, including where construction ceases in any material respect, or if completion is not achieved within agreed upon timelines.

Marmato

Under the terms of the Marmato PMPA, the Company is committed to pay Aris Mining additional upfront cash payments of $42 million, payable during the construction of the Marmato Lower Mine development portion of the Marmato mine, subject to customary conditions.

Santo Domingo

The Company is committed to pay Capstone Copper Corp. (“Capstone”) total upfront cash payments of $290 million, which is payable during the construction of the Santo Domingo project, subject to customary conditions being satisfied, including Capstone attaining sufficient financing to cover total expected capital expenditures.

WHEATON PRECIOUS METALS 2026 SECOND QUARTER REPORT - FINANCIAL STATEMENTS [30]

Notes to the Condensed Interim Consolidated Financial Statements

Three and Six Months Ended June 30, 2026 (US Dollars)

El Domo

Under the terms of the El Domo PMPA, the Company is committed to pay additional upfront cash payments of $131.6 million, which includes $0.25 million which will be paid to support certain local community development initiatives around the El Domo project. The payments will be payable in three staged installments during construction, subject to various customary conditions being satisfied.

Marathon

Under the terms of the Marathon PMPA, the Company is committed to pay additional upfront cash payments of $141 million (Cdn$200 million), which is to be paid in four staged installments during construction of the Marathon project, subject to various customary conditions being satisfied.

Cangrejos

Under the terms of the Cangrejos PMPA, the Company is committed to pay additional upfront consideration of $169 million, which is to be paid in two staged equal installments during construction of the mine, subject to various customary conditions being satisfied.

Curraghinalt

Under the terms of the Curraghinalt PMPA, the Company is committed to pay additional upfront cash payments of $55 million to be paid to an affiliate of Dalradian Gold during construction of the Curraghinalt project.

Loma de La Plata

Under the terms of the Loma de La Plata PMPA, the Company is committed to pay Pan American Silver Corp. (“PAAS”) total upfront cash payments of

million following the satisfaction of certain conditions, including PAAS receiving all necessary permits to proceed with the mine construction and the Company finalizing the definitive terms of the PMPA.

Spring Valley

Under the terms of the Spring Valley PMPA, the Company is committed to pay Waterton Gold Corp. (“Waterton Gold”) additional upfront cash payments of $570 million in installments as various conditions are satisfied. The Company has also provided a cost overrun facility (the “Spring Valley Facility”) of up to $150 million, accessible during an availability period commencing once the full upfront consideration has been paid under the Spring Valley PMPA. The Spring Valley Facility has a maturity date of three years following the first drawdown under the Spring Valley Facility.

Mineral Park

The Company has entered into a loan agreement to provide a secured debt facility of up to $25 million to Origin Mining Company, LLC, the Mineral Park owner and affiliate of Waterton Copper, to help support the mine construction, if necessary, once the full upfront consideration under the stream has been paid. On April 2, 2026, $10 million was advanced under this facility, with a further $15 million being advanced on July

, 2026.

Kudz Ze Kayah

Under the terms of the amended KZK PMPA, an additional $15 million contingency payment is due to BM

if the KZK project achieves certain permitting milestones.

Jervois

Under the terms of the Jervois PMPA, the Company is committed to pay additional upfront cash payments of $259 million. Of this amount, $16 million is to be paid once certain conditions are satisfied, with the payment expected to be made in

Q3-2026,

while the remaining balance of $243 million will be paid in four equal installments over the construction period as various conditions are satisfied.

Cotabambas

Under the terms of the Cotabambas Early Deposit Agreement, the Company is committed to pay Panoro Minerals Ltd. additional upfront cash payments of

$126 million. Following the delivery of a bankable definitive feasibility study, environmental study and impact assessment, and other related documents (collectively, the “Cotabambas Feasibility Documentation”), and receipt of permits and construction commencing, the Company may then advance the remaining deposit or elect to terminate the Cotabambas Early Deposit Agreement. If the Company elects to terminate, the Company will be entitled to a return of the portion of the amounts advanced less $2 million payable upon certain triggering events occurring.

WHEATON PRECIOUS METALS 2026 SECOND QUARTER REPORT - FINANCIAL STATEMENTS [31]

Notes to the Condensed Interim Consolidated Financial Statements

Three and Six Months Ended June 30, 2026 (US Dollars)

Toroparu

Under the terms of the Toroparu Early Deposit Agreement, the Company is committed to pay a subsidiary of Aris Mining an additional $138 million, payable on an installment basis to partially fund construction of the mine. Aris Mining is to deliver certain feasibility documentation. Prior to the delivery of this feasibility documentation, Wheaton may elect to (i) not proceed with the agreement or (ii) not pay the balance of the upfront consideration and reduce the gold stream percentage from 10% to 0.909% and the silver stream percentage from 50% to nil. If option (i) is chosen, Wheaton will be entitled to a return of the amounts advanced less $2 million. If Wheaton elects option (ii), Aris Mining may elect to terminate the agreement and Wheaton will be entitled to a return of the amount of the deposit already advanced less $2 million.

Kutcho

Under the terms of the Kutcho Early Deposit Agreement, the Company is committed to pay Kutcho additional upfront cash payments of $58 million, which will be advanced on an installment basis to partially fund construction of the mine once certain conditions have been satisfied.

Spanish Mountain Royalty

Under the terms of the Spanish Mountain Royalty, the Company is committed to pay Spanish Mountain Gold Limited an additional $32.5 million, comprised of

$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.

Cipango Royalty

Under the terms of the Cipango Royalty, the Company is committed to pay Cipango Limited an additional payment of $3 million due upon completion of a geochemical survey with respect to any project.

Tax Contingencies

Due to the size, complexity and nature of the Company’s operations, various legal and tax matters are outstanding from time to time, including audits and disputes.

It is not known or determinable by the Company when any ongoing audits by CRA of international and domestic transactions will be completed, or whether reassessments will be issued, or the basis, quantum or timing of any such potential reassessments, and it is therefore not practicable for the Company to estimate the financial effect, if any, of any ongoing audits. From time to time there may also be proposed legislative changes to law or outstanding legal actions that may have an impact on the current or prior periods, the outcome, applicability and impact of which is also not known or determinable by the Company.

General

By their nature, contingencies will only be resolved when one or more future events occur or fail to occur. The assessment of contingencies inherently involves the exercise of significant judgment and estimates of the outcome of future events. If the Company is unable to resolve any of these matters favorably, there may be a material adverse impact on the Company’s financial performance, cash flows or results of operations. In the event that the Company’s estimate of the future resolution of any of the foregoing matters changes, the Company will recognize the effects of the change in its consolidated financial statements in the appropriate period relative to when such change occurs.

WHEATON PRECIOUS METALS 2026 SECOND QUARTER REPORT - FINANCIAL STATEMENTS [32]

Notes to the Condensed Interim Consolidated Financial Statements

Three and Six Months Ended June 30, 2026 (US Dollars)

25.	Segmented Information

Operating Segments

The Company’s reportable operating segments, which are the components of the Company’s business where discrete financial information is available and which are evaluated on a regular basis by the Company’s Chief Executive Officer (“CEO”), who is the Company’s chief operating decision maker, for the purpose of assessing performance, are summarized in the tables below:

WHEATON PRECIOUS METALS 2026 SECOND QUARTER REPORT - FINANCIAL STATEMENTS [33]

Notes to the Condensed Interim Consolidated Financial Statements

Three and Six Months Ended June 30, 2026 (US Dollars)


Three Months Ended June 30, 2026
(in thousands)	Sales		Cost of Sales		Depletion		Net Earnings			Cash Flow From Operations			Total Assets

Gold

Salobo	$	312,112	$	30,366	$	28,333	$	253,413		$	278,505		$	2,568,665

Sudbury 1		19,891		1,788		6,255		11,848			18,041			206,067

Constancia		13,313		1,283		1,012		11,018			12,030			47,588

San Dimas		26,642		3,878		2,562		20,202			22,764			119,371

Stillwater		5,676		1,062		727		3,887			4,614			202,680

Blackwater		27,785		9,302		3,786		14,697			20,862			324,284

Platreef		-		-		-		-			-			275,702

Other 2		22,366		4,531		5,694		12,141			17,835			1,662,005

Total gold interests	$	427,785	$	52,210	$	48,369	$	327,206		$	374,651		$	5,406,362

Silver

Peñasquito	$	198,793	$	12,582	$	13,860	$	172,351		$	186,211		$	185,656

Antamina		150,549		28,510		44,716		77,323			122,039			4,708,329

Constancia		33,055		2,862		2,910		27,283			30,193			144,161

Blackwater		9,189		1,690		1,023		6,476			7,539			165,522

Other 3		87,172		16,769		4,245		66,158			64,443			562,150

Total silver interests	$	478,758	$	62,413	$	66,754	$	349,591		$	410,425		$	5,765,818

Palladium

Stillwater	$	2,957	$	547	$	1,018	$	1,392		$	2,410		$	206,444

Platreef		-		-		-		-			-			78,814

Total palladium interests	$	2,957	$	547	$	1,018	$	1,392		$	2,410		$	285,258

Platinum

Marathon	$	-	$	-	$	-	$	-		$	-		$	9,451

Platreef		-		-		-		-			-			57,584

Total platinum interests	$	-	$	-	$	-	$	-		$	-		$	67,035

Cobalt

Voisey’s Bay	$	19,701	$	3,673	$	6,361	$	9,667		$	12,940		$	206,733

Total mineral stream interests	$	929,201	$	118,843	$	122,502	$	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

Consolidated							$	543,236		$	649,518		$	12,161,186

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

Where a gold interest represents less than 10% of the Company’s sales, gross margin or aggregate asset book value and is not evaluated on a regular basis by the Company’s CEO for the purpose of assessing performance, the gold interest has been summarized under Other gold interests. 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.

Where a silver interest represents less than 10% of the Company’s sales, gross margin or aggregate asset book value and is not evaluated on a regular basis by the Company’s CEO for the purpose of assessing performance, the silver interest has been summarized under Other silver interests. 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.

WHEATON PRECIOUS METALS 2026 SECOND QUARTER REPORT - FINANCIAL STATEMENTS [34]

Notes to the Condensed Interim Consolidated Financial Statements

Three and Six Months Ended June 30, 2026 (US Dollars)


Three Months Ended June 30, 2025
(in thousands)	Sales		Cost of Sales		Depletion		Net Earnings			Cash Flow From Operations			Total Assets

Gold

Salobo	$	252,997	$	32,734	$	30,720	$	189,543		$	220,263		$	2,677,073

Sudbury 1		9,597		1,140		3,778		4,679			8,457			230,307

Constancia		22,629		2,899		2,203		17,527			19,730			58,963

San Dimas		23,982		4,632		2,097		17,253			19,350			131,787

Stillwater		4,594		818		583		3,193			3,776			206,058

Blackwater		11,084		3,857		2,031		5,196			7,227			338,133

Platreef		-		-		-		-			-			275,702

Other 2		3,471		1,446		391		1,634			3,034			592,372

Total gold interests	$	328,354	$	47,526	$	41,803	$	239,025		$	281,837		$	4,510,395

Silver

Peñasquito	$	71,467	$	9,632	$	10,261	$	51,574		$	61,835		$	224,608

Antamina		36,303		7,355		9,077		19,871			28,948			474,215

Constancia		21,138		3,911		3,814		13,413			17,227			157,109

Blackwater		5,239		935		1,381		2,923			4,519			169,566

Other 3		31,592		4,101		4,321		23,170			22,961			551,926

Total silver interests	$	165,739	$	25,934	$	28,854	$	110,951		$	135,490		$	1,577,424

Palladium

Stillwater	$	2,564	$	450	$	1,105	$	1,009		$	2,114		$	211,019

Platreef		-		-		-		-			-			78,814

Total palladium interests	$	2,564	$	450	$	1,105	$	1,009		$	2,114		$	289,833

Platinum

Marathon	$	-	$	-	$	-	$	-		$	-		$	9,451

Platreef		-		-		-		-			-			57,584

Total platinum interests	$	-	$	-	$	-	$	-		$	-		$	67,035

Cobalt

Voisey’s Bay	$	6,561	$	1,259	$	3,240	$	2,062		$	2,907		$	225,020

Total mineral stream interests	$	503,218	$	75,169	$	75,002	$	353,047		$	422,348		$	6,669,707

Other

General and administrative							$	(11,022	)	$	(10,498	)

Share based compensation								(9,962	)		-

Donations and community investments								(2,368	)		(2,096	)

Finance costs								(1,427	)		(2,025	)

Other								9,736			8,179

Income tax								(45,734	)		(949	)

Total other							$	(60,777	)	$	(7,389	)	$	1,312,678

Consolidated							$	292,270		$	414,959		$	7,982,385

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

Where a gold interest represents less than 10% of the Company’s sales, gross margin or aggregate asset book value and is not evaluated on a regular basis by the Company’s CEO for the purpose of assessing performance, the gold interest has been summarized under Other gold interests. Other gold interests comprised of the Marmato, Copper World, Santo Domingo, Fenix, El Domo, Marathon, Goose, Cangrejos, Curraghinalt, Kudz Ze Kayah, Koné and Kurmuk gold interests.

Where a silver interest represents less than 10% of the Company’s sales, gross margin or aggregate asset book value and is not evaluated on a regular basis by the Company’s CEO for the purpose of assessing performance, the silver interest has been summarized under Other silver interests. Other silver interests comprised of the Los Filos, Zinkgruvan, Neves-Corvo, Marmato, Cozamin, Stratoni, Aljustrel, El Alto, Copper World, Navidad, El Domo, Mineral Park and Kudz Ze Kayah silver interests.

WHEATON PRECIOUS METALS 2026 SECOND QUARTER REPORT - FINANCIAL STATEMENTS [35]

Notes to the Condensed Interim Consolidated Financial Statements

Three and Six Months Ended June 30, 2026 (US Dollars)


Six Months Ended June 30, 2026
(in thousands)	Sales		Cost of Sales		Depletion		Net Earnings			Cash Flow From Operations			Total Assets

Gold

Salobo	$	596,292	$	55,780	$	52,045	$	488,467		$	540,512		$	2,568,665

Sudbury 1		41,424		3,553		12,427		25,444			37,893			206,067

Constancia		66,038		5,951		4,696		55,391			60,087			47,588

San Dimas		63,790		8,812		5,847		49,131			54,978			119,371

Stillwater		12,428		2,277		1,522		8,629			10,151			202,680

Blackwater		51,769		17,726		6,764		27,279			34,607			324,284

Platreef		-		-		-		-			-			275,702

Other 2		57,082		12,501		14,319		30,262			46,095			1,662,005

Total gold interests	$	888,823	$	106,600	$	97,620	$	684,603		$	784,323		$	5,406,362

Silver

Peñasquito	$	320,748	$	19,254	$	21,210	$	280,284		$	301,494		$	185,656

Antamina		277,563		55,340		51,322		170,901			222,223			4,708,329

Constancia		89,999		7,124		7,242		75,633			82,875			144,161

Blackwater		19,435		3,452		1,980		14,003			15,894			165,522

Other 3		197,783		45,581		8,388		143,814			172,291			562,150

Total silver interests	$	905,528	$	130,751	$	90,142	$	684,635		$	794,777		$	5,765,818

Palladium

Stillwater	$	7,866	$	1,448	$	2,448	$	3,970		$	6,418		$	206,444

Platreef		-		-		-		-			-			78,814

Total palladium interests	$	7,866	$	1,448	$	2,448	$	3,970		$	6,418		$	285,258

Platinum

Marathon	$	-	$	-	$	-	$	-		$	-		$	9,451

Platreef		-		-		-		-			-			57,584

Total platinum interests	$	-	$	-	$	-	$	-		$	-		$	67,035

Cobalt

Voisey’s Bay	$	28,453	$	5,287	$	9,144	$	14,022		$	19,437		$	206,733

Total mineral stream interests	$	1,830,670	$	244,086	$	199,354	$	1,387,230		$	1,604,955		$	11,731,206

Other

General and administrative							$	(24,299	)	$	(30,944	)

Share based compensation								(14,918	)		(29,257	)

Donations and community investments								(6,162	)		(5,306	)

Finance costs								(32,502	)		(31,852	)

Other								26,807			17,188

Income tax								(210,876	)		(109,444	)

Total other							$	(261,950	)	$	(189,615	)	$	429,980

Consolidated							$	1,125,280		$	1,415,340		$	12,161,186

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

WHEATON PRECIOUS METALS 2026 SECOND QUARTER REPORT - FINANCIAL STATEMENTS [36]

Notes to the Condensed Interim Consolidated Financial Statements

Three and Six Months Ended June 30, 2026 (US Dollars)


Six Months Ended June 30, 2025
(in thousands)	Sales		Cost of Sales		Depletion		Net Earnings			Cash Flow From Operations			Total Assets

Gold

Salobo	$	493,802	$	68,676	$	62,412	$	362,714		$	425,126		$	2,677,073

Sudbury 1		25,714		3,393		11,244		11,077			22,307			230,307

Constancia		50,752		7,054		5,363		38,335			43,698			58,963

San Dimas		49,733		10,341		4,694		34,698			39,392			131,787

Stillwater		10,188		1,786		1,402		7,000			8,402			206,058

Blackwater		11,398		3,969		2,098		5,331			7,429			338,133

Platreef		-		-		-		-			-			275,702

Other 2		6,462		2,682		779		3,001			5,653			592,372

Total gold interests	$	648,049	$	97,901	$	87,992	$	462,156		$	552,007		$	4,510,395

Silver

Peñasquito	$	134,738	$	18,641	$	19,857	$	96,240		$	116,097		$	224,608

Antamina		64,614		13,018		16,556		35,040			51,596			474,215

Constancia		44,514		8,481		8,269		27,764			36,034			157,109

Blackwater		5,239		935		1,381		2,923			4,519			169,566

Other 3		61,572		8,047		9,811		43,714			46,030			551,926

Total silver interests	$	310,677	$	49,122	$	55,874	$	205,681		$	254,276		$	1,577,424

Palladium

Stillwater	$	4,936	$	873	$	2,160	$	1,903		$	4,063		$	211,019

Platreef		-		-		-		-			-			78,814

Total palladium interests	$	4,936	$	873	$	2,160	$	1,903		$	4,063		$	289,833

Platinum

Marathon	$	-	$	-	$	-	$	-		$	-		$	9,451

Platreef		-		-		-		-			-			57,584

Total platinum interests	$	-	$	-	$	-	$	-		$	-		$	67,035

Cobalt

Voisey’s Bay	$	9,967	$	1,909	$	5,669	$	2,389		$	6,869		$	225,020

Total mineral stream interests	$	973,629	$	149,805	$	151,695	$	672,129		$	817,215		$	6,669,707

Other

General and administrative							$	(24,547	)	$	(29,875	)

Share based compensation								(22,143	)		(17,209	)

Donations and community investments								(5,060	)		(4,975	)

Finance costs								(2,868	)		(3,186	)

Other								17,256			16,964

Income tax								(88,513	)		(3,182	)

Total other							$	(125,875	)	$	(41,463	)	$	1,312,678

Consolidated							$	546,254		$	775,752		$	7,982,385

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

Where a gold interest represents less than

% of the Company’s sales, gross margin or aggregate asset book value and is not evaluated on a regular basis by the Company’s CEO for the purpose of assessing performance, the gold interest has been summarized under Other gold interests. Other gold interests comprised of the Marmato, Copper World, Santo Domingo, Fenix, El Domo, Marathon, Goose, Cangrejos, Curraghinalt, Kudz Ze Kayah, Koné and Kurmuk gold interests.

Where a silver interest represents less than

% of the Company’s sales, gross margin or aggregate asset book value and is not evaluated on a regular basis by the Company’s CEO for the purpose of assessing performance, the silver interest has been summarized under Other silver interests. Other silver interests comprised of the Los Filos, Zinkgruvan, Neves-Corvo, Marmato, Cozamin, Stratoni, Aljustrel, El Alto, Copper World, Navidad, El Domo, Mineral Park and Kudz Ze Kayah silver interests.

WHEATON PRECIOUS METALS 2026 SECOND QUARTER REPORT - FINANCIAL STATEMENTS [37]

Notes to the Condensed Interim Consolidated Financial Statements

Three and Six Months Ended June 30, 2026 (US Dollars)

Geographical Areas

The Company’s geographical information, which is based on the location of the mining operations to which the mineral stream interests relate, are summarized in the tables below:


	Sales						Carrying Amount at June 30, 2026

(in thousands)	Three Months Ended Jun 30, 2026			Six Months Ended Jun 30, 2026			Gold Interests		Silver Interests		Palladium Interests		Platinum Interests		Cobalt Interests		Total

North America

Canada	$	90,542	10%	$	183,449	10%	$	938,208	$	192,197	$	-	$	9,451	$	206,733	$	1,346,589	12	%

United States		14,835	2%		28,921	2%		302,888		116,216		206,444		-		-		625,548	6	%

Mexico		236,305	25%		408,533	22%		119,369		271,835		-		-		-		391,204	3	%

Europe

Portugal		40,985	4%		105,406	6%		-		14,728		-		-		-		14,728	0	%

Sweden		33,015	4%		64,305	4%		-		22,341		-		-		-		22,341	0	%

United Kingdom		-	0%		-	0%		20,379		-		-		-		-		20,379	0	%

South America

Argentina/Chile 1		-	0%		-	0%		-		253,514		-		-		-		253,514	2	%

Argentina		-	0%		-	0%		-		10,889		-		-		-		10,889	0	%

Chile		-	0%		1,523	0%		144,536		-		-		-		-		144,536	1	%

Brazil		312,112	34%		596,293	32%		2,568,666		-		-		-		-		2,568,666	22	%

Peru		196,917	21%		433,600	24%		47,589		4,852,483		-		-		-		4,900,072	42	%

Ecuador		-	0%		-	0%		65,420		11,762		-		-		-		77,182	1	%

Colombia		4,490	0%		8,640	0%		115,372		9,417		-		-		-		124,789	1	%

Africa

Côte d’Ivoire		-	0%		-	0%		626,470		-		-		-		-		626,470	5	%

Ethiopia		-	0%		-	0%		175,592		-		-		-		-		175,592	1	%

South Africa		-	0%		-	0%		275,702		-		78,814		57,584		-		412,100	4	%

Asia Pacific

Australia		-	0%		-	0%		6,171		10,436		-		-		-		16,607	0	%

Consolidated	$	929,201	100%	$	1,830,670	100%	$	5,406,362	$	5,765,818	$	285,258	$	67,035	$	206,733	$	11,731,206	100	%

1)	Includes the El Alto project, which straddles the border of Argentina and Chile.

WHEATON PRECIOUS METALS 2026 SECOND QUARTER REPORT - FINANCIAL STATEMENTS [38]

Notes to the Condensed Interim Consolidated Financial Statements

Three and Six Months Ended June 30, 2026 (US Dollars)


	Sales						Carrying Amount at December 31, 2025

(in thousands)	Three Months Ended Jun 30, 2025			Six Months Ended Jun 30, 2025			Gold Interests		Silver Interests		Palladium Interests		Platinum Interests		Cobalt Interests		Total

North America

Canada	$	32,481	6%	$	52,319	5%	$	669,263	$	194,177	$	-	$	9,451	$	215,877	$	1,088,768	16	%

United States		7,158	1%		15,124	2%		204,204		116,510		208,892		—		-		529,606	8	%

Mexico		100,940	20%		197,032	20%		125,215		299,441		-		-		-		424,656	6	%

Europe

Portugal		7,627	2%		15,060	2%		-		15,373		-		-		-		15,373	0	%

Sweden		18,163	4%		33,368	3%		-		23,136		-		-		-		23,136	0	%

UK		-	0%		-	0%		20,376		-		-		-		-		20,376	0	%

South America

Argentina/Chile 1		-	0%		-	0%		-		253,514		-		-		-		253,514	3	%

Argentina		-	0%		-	0%		-		10,889		-		-		-		10,889	0	%

Chile		1,011	0%		1,886	0%		176,947		-		-		-		-		176,947	2	%

Brazil		252,997	50%		493,802	51%		2,620,710		-		-		-		-		2,620,710	35	%

Peru		80,071	16%		159,880	16%		52,285		610,481		-		-		-		662,766	9	%

Ecuador		-	0%		-	0%		65,046		11,714		-		-		-		76,760	1	%

Colombia		2,770	1%		5,158	1%		78,931		6,506		-		-		-		85,437	1	%

Africa

Côte d’Ivoire		-	0%		-	0%		470,106		-		-		-		-		470,106	6	%

Ethiopia		-	0%		-	0%		526,005		-		-		-		-		526,005	7	%

South Africa		-	0%		-	0%		275,702		-		78,814		57,584		-		412,100	6	%

Consolidated	$	503,218	100%	$	973,629	100%	$	5,284,790	$	1,541,741	$	287,706	$	67,035	$	215,877	$	7,397,149	100	%

1)	Includes the El Alto project, which straddles the border of Argentina and Chile.

26.	Subsequent Events

Declaration of Dividend

Under the Company’s dividend policy, the quarterly dividend is fixed at $0.195 per common share for 2026. The declaration, timing, amount and payment of future dividends remain at the discretion of the Board of Directors.

On August 6, 2026, the Board of Directors declared a dividend in the amount of $0.195 per common share, with this dividend being payable to shareholders of record on August 20, 2026 and is expected to be distributed on or about September 3, 2026. The Company has implemented a dividend reinvestment plan (“DRIP”) whereby shareholders can elect to have dividends reinvested directly into additional Wheaton common shares based on the Average Market Price, as defined in the DRIP.

WHEATON PRECIOUS METALS 2026 SECOND QUARTER REPORT - FINANCIAL STATEMENTS [39]


			Three Months Ended June 30				Six Months Ended June 30

(US dollars and shares in thousands, except per share amounts - unaudited)	Note		2026		2025		2026		2025

Sales		6	$	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		7		11,327		11,022		24,299		24,547

Share based compensation		8		4,806		9,962		14,918		22,143

Donations and community investments		9		4,665		2,368		6,162		5,060

Earnings from operations			$	667,058	$	329,695	$	1,341,851	$	620,379

Other income (expense)		10		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		16. 4		31,097		1,427		32,502		2,868

Earnings before income taxes			$	645,032	$	338,004	$	1,336,156	$	634,767

Income tax expense		22		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		20		454,133		453,889		454,089		453,791

Diluted		20		454,991		454,663		454,973		454,550



(US dollars in thousands - unaudited)	Note		As at June 30 2026		As at December 31 2025

Assets

Current assets

Cash and cash equivalents		21	$	100,192	$	1,153,593

Accounts receivable		11		26,056		46,723

Other				3,916		3,853

Total current assets			$	130,164	$	1,204,169

Non-current assets

Mineral stream interests		12	$	11,731,206	$	7,397,149

Early deposit mineral stream interests		13		47,097		47,094

Mineral royalty interests		14		67,495		40,421

Long-term equity investments		15		147,619		410,495

Property, plant and equipment				9,552		9,926

Other		23		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		22		247,780		109,951

Current portion of performance share units		19.1		15,186		21,604

Current portion of lease liabilities		16. 3		586		575

Total current liabilities			$	279,305	$	154,687

Non-current liabilities

Bank debt		16	$	1,969,282	$	-

Performance share units		19.1		1,387		13,215

Lease liabilities		16. 3		6,882		7,330

Income taxes payable - non-current		22		186,599		252,271

Deferred income taxes		22		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		17	$	3,825,005	$	3,814,910

Reserves		18		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