IMPORTANT NOTICE TO U.S. SHAREHOLDERS RELATED TO THEIR INVESTMENT IN TRIPLE FLAG PRECIOUS METALS CORP.
This information is provided for shareholders who are U.S. taxpayers. It may not be relevant for other individuals.
THE U.S. TAX RULES REGARDING PFICS ARE VERY COMPLEX AND INVESTORS ARE STRONGLY URGED TO CONSULT THEIR OWN TAX ADVISORS REGARDING THE U.S. TAX CONSEQUENCES OF THE PFIC RULES WITH REGARD TO THEIR INVESTMENT IN TRIPLE FLAG PRECIOUS METALS CORP.
PFIC Status for Tax Year 2023
Triple Flag Precious Metals Corp. (“Triple Flag”) believes, on a more-likely-than-not basis, that it was not a passive foreign investment company (“PFIC”) within the meaning of Section 1297 of the Internal Revenue Code of 1986, as amended, for its tax year ended December 31, 2023. However, the determination as to whether any corporation was, or will be, a PFIC for a particular tax year depends, in part, on the application of complex U.S. federal income tax rules, which are subject to differing interpretations and uncertainty. In addition, there is limited authority on the application of the relevant PFIC rules to entities such as Triple Flag and its subsidiaries. Accordingly, there can be no assurance that the U.S. Internal Revenue Service will not challenge Triple Flag’s views concerning its PFIC status. In addition, whether any corporation will be a PFIC for any tax year depends on its assets and income over the course of such tax year, and, as a result, Triple Flag’s PFIC status for its current tax year and any future tax year cannot be predicted with certainty.
INVESTORS SHOULD CONSULT THEIR OWN TAX ADVISORS REGARDING THE PFIC STATUS OF TRIPLE FLAG AND ITS SUBSIDIARIES.
The foregoing statements are qualified in their entirety by the discussion set forth under the heading “United States Federal Income Tax Considerations” in the Annual Report of TRIPLE FLAG on Form 40-F filed with the United States Securities and Exchange Commission on March 28, 2024.