Wheaton Precious Metals acquires silver stream with respect to BHP’s share of the silver produced from the Antamina mine pursuant to a US$4.3 billion streaming agreement

On February 16, 2026, Wheaton Precious Metals Corp. (“Wheaton”), through its wholly owned subsidiary Wheaton Precious Metals International Ltd., entered into a definitive precious metals purchase agreement with a wholly owned subsidiary of BHP Group Limited (“BHP”) covering BHP’s 33.75% share of the silver produced from the Antamina mine in Peru (the “Silver Stream”).

The Silver Stream deepens Wheaton’s exposure to a long life, low cost producing asset at a time of increasing demand for quality silver supply. As a result of the Silver Stream, Wheaton’s attributable silver production from Antamina will increase to a combined 67.5%, up from the 33.75% delivered under its existing silver stream with a wholly owned subsidiary of Glencore plc.

Under the Silver Stream, WPMI will pay BHP upfront cash consideration of US$4.3 billion, subject to satisfaction of certain customary closing conditions. Closing is expected to occur on or about April 1, 2026.

McCarthy Tétrault LLP advised Wheaton with a team led by Roger Taplin, Adam Wanke, and Jenna Clark that included Christopher Langdon, Peter Quon (Business Law), Drew Morier, and James Chang (Tax).