Pro Ration Information

Triple Flag Provides Clarity on Pro Ration of Shares Elected for Cash

Triple Flag Precious Metals Corp. (with its subsidiaries, “Triple Flag” or the “Company”) is providing clarity on the consideration to be paid by Triple Flag in respect of the closing of the acquisition of Maverix Metals Inc. (“Maverix”).

As previously communicated, the shareholders of Maverix elected to receive, as consideration for the acquisition of their shares, either US$3.92 in cash (the “Cash Consideration”) or 0.360 of a common share of Triple Flag per Maverix share held (the “Share Consideration”). The Cash Consideration and the Share Consideration were subject to pro-ration such that the Cash Consideration will not exceed 15% of the total consideration and the Share Consideration will not exceed 85% of the total consideration. Shareholders holding a total of 38,309,854 Maverix shares elected to receive the Cash Consideration, representing 26% of the total issued and outstanding shares of Maverix at the time of election. As a result, the following consideration will be paid to the Maverix shareholders:

Shareholders who elected the Share Consideration or did not make an election will receive an amount of Triple Flag shares that is equal to the total number of Maverix shares previously held multiplied by 0.360, rounded down to the nearest whole Triple Flag share. For greater clarity, Maverix shareholders that did not make an election were deemed to elect the Share Consideration.

Shareholders who elected the Cash Consideration will be prorated as to 57.71% cash, and 42.29% Triple Flag shares and will receive:
Cash in an amount that is equal to the number of Maverix shares deposited multiplied by US$3.92 per Maverix share and then multiplied by 57.71%, rounded down to the nearest cent.
Triple Flag shares in an amount that is equal to the number of Maverix shares deposited multiplied by 0.360 and then multiplied by 42.29%, rounded down to the nearest whole Triple Flag share.

Former Maverix shareholders should contact their investment advisor regarding the consideration to be received for their Maverix shares. Registered Maverix shareholders are encouraged to complete, sign, date and return the Letter of Transmittal and Election Form in accordance with the instructions set out therein, and return it, together with the share certificate(s) or DRS advice statement(s) (if applicable), representing the Maverix shares, to TSX Trust Company, the depositary, at the address specified in the Letter of Transmittal and Election Form. A copy of the Letter of Transmittal and Election Form is available on request to Triple Flag, TSX Trust Company or under the profile of Maverix Metals Inc. on SEDAR (www.sedar.com).

Maverix shareholders that hold Maverix shares through a broker, custodian, nominee, or another intermediary, are not required to take any action and the Cash Consideration and/or Share Consideration, as applicable, they are entitled to receive will be delivered to the broker, custodian, nominee or other intermediary. Shareholders should contact their broker, custodian, nominee or intermediary with any questions regarding this process.

Maverix shareholders that are registered Maverix shareholders, will receive, as soon as reasonably practical, from TSX Trust Company, the depositary, a certificate(s)/DRS statement representing the Share Consideration and/or the cheque representing the Cash Consideration. Registered Maverix shareholders should ensure the delivery of the required documentation, including the applicable certificates or DRS Statement representing Maverix shares and a duly and properly completed Letter of Transmittal and Election Form.