Triple Flag Announces Record Operating Cash Flow Per Share in Q2 2025 and Increases Dividend

Executive Summary

• Triple Flag Precious Metals reported Q2 2025 revenue of $94.1 M and net earnings of $55.7 M ($0.28 per share), a material improvement from a loss in Q2 2024.
• The Board declared a quarterly cash dividend of US$0.0575 per common share (annualized $0.23), the fourth consecutive 5% increase since IPO.
• Completed acquisitions of a 1.0% NSR royalty on the Arthur gold project (Nevada) and increased its GR royalty on Johnson Camp Mine to 3.0%, expanding future cash‑flow exposure.

Key Details

• Financial Highlights – Q2 2025 vs. Q2 2024
• Revenue: $94.1 M vs. $63.6 M
• Gold Equivalent Ounces (GEOs) sold: 28,682 oz vs. 27,192 oz
• Net earnings: $55.7 M ($0.28/share) vs. a loss of $111.4 M ($0.55 loss/share)
• Adjusted net earnings: $47.9 M ($0.24/share) vs. $22.9 M ($0.11/share)

• Operating cash flow: $76.1 M (up from $49.4 M) – $0.38 per share

• Dividend

• Quarterly dividend of US$0.0575 per common share, payable September 15 2025 to shareholders of record September 2 2025.

• Annualized dividend now US$0.23 per share (5% increase over prior year).

• Royalty Acquisitions

• July 2025: Acquired Orogen Royalties’ 1.0% NSR royalty on the Arthur gold project (Nevada) – no cash outlay disclosed in this release.

• June 26 2025: Purchased an additional 1.5% GR royalty on Johnson Camp Mine (Arizona) for $4.0 M, bringing total to 3.0% GR royalty; complements existing 3.5‑16.5% copper stream on oxide material at Gunnison’s flagship project.

• Portfolio Production Updates

• Northparkes (Australia): Record Q2 sales of 9,578 GEOs; E48 sub‑level cave development commenced July 2024, commissioning expected H2 2025.
• Beta Hunt: Q2 royalties = 1,451 GEOs; new Fletcher Zone resource (3.7 Mt @ 2.5 g/t Au = 295 koz) announced June 2025.
• Fosterville: Q2 royalties = 772 GEOs; operator Agnico Eagle projects 140‑160 k oz gold annually 2025‑27, with potential ramp to ~175 k oz.
• Cerro Lindo (Argentina): Q2 sales = 7,379 GEOs; 65% silver stream continues until 19.5 M oz delivered.
• Buriticá (Colombia): Q2 sales = 1,090 GEOs; illegal mining issues noted but operations stable.

• Camino Rojo: Q2 royalties = 637 GEOs; temporary leach incident in July 2025, production guidance revised to 95‑105 k oz gold for 2025.

• Other Notable Project Updates

• Arthur (Nevada): Pre‑feasibility study on oxide project on track for early 2026; 45 km drilling completed H1 2025 ($24.1 M cost).
• Hope Bay: Infrastructure upgrades ongoing under $97 M program; deep drill intercept of 25.7 g/t Au over 8.4 m at 754 m depth reported.

• Goldfield (Canada): Centerra to commence construction 2027; Triple Flag holds royalty on Gemfield deposit covering ~80% of life‑of‑mine production.

• Legal / Enforcement

• ATO streaming agreement: Steppe Gold in default; Triple Flag entitled to 796 oz gold and 8,479 oz silver (as of March 2025) and is pursuing enforcement options.

• Conference Call

• Scheduled for August 7 2025 at 9:00 a.m. ET; webcast link provided.

Notable Quotes

“Triple Flag generated record operating cash flow per share in the second quarter of 2025, and we remain firmly on track to deliver our 2025 guidance of 105,000 to 115,000 GEOs over the balance of the year,” – Sheldon Vanderkooy, CEO.