Triple Flag Files Final Prospectus and Announces Pricing of Initial Public Offering of Common Shares

NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES NEWS WIRE SERVICES

Triple Flag Precious Metals Corp. ("Triple Flag") today announced that it has obtained a receipt for its final prospectus in respect of its initial public offering of common shares filed with the securities regulatory authorities of all provinces and territories in Canada and has entered into an underwriting agreement with respect to the offering of an aggregate of 19,230,770 common shares of Triple Flag at a price of US$13.00 per share, for gross proceeds of approximately US$250 million. The offering is being co-led by BofA Securities, Credit Suisse, and Scotiabank together with CIBC Capital Markets, BMO Capital Markets, National Bank Financial, RBC Capital Markets and TD Securities Inc. as underwriters.

The underwriters have also been granted an over-allotment option to purchase up to an additional 2,884,615 common shares at a price of US$13.00 per share for additional gross proceeds of approximately US$37.5 million if the over-allotment option is exercised in full. The over-allotment option can be exercised for a period of 30 days from the closing date of the offering.

The closing of the offering is expected to occur on May 26, 2021, subject to customary closing conditions. The common shares are expected to begin trading on the Toronto Stock Exchange (the "TSX") on an if, as and when issued basis, on May 20, 2021, in Canadian dollars under the symbol "TFPM" and in U.S. dollars under the symbol "TFPM.U". The TSX has conditionally approved the listing of the common shares, subject to fulfilling customary TSX requirements.

This offering is only made by prospectus. A (final) base PREP prospectus containing important information relating to the offering has been filed with the securities commissions or similar authorities in each of the provinces and territories of Canada, and a supplemented PREP prospectus containing pricing information and other important information relating to the offered shares will be filed shortly. Copies of the supplemented PREP prospectus will be available from the lead underwriters (BofA Securities at dg.prospectus_requests@bofa.com, Credit Suisse at olivier.demet@credit-suisse.com and Scotiabank at equityprospectus@scotiabank.com). Investors should read the supplemented PREP prospectus before making an investment decision.

No securities regulatory authority has either approved or disapproved the contents of this news release. The common shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws. Accordingly, the common shares may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any securities of Triple Flag in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Triple Flag

Triple Flag is a gold-focused streaming and royalty company offering bespoke financing solutions to the metals and mining industry. Our mission is to be a sought-after, long-term funding partner to mining companies throughout the commodity cycle. Since our inception in 2016, we have constructed a diversified portfolio of streams and royalties providing exposure primarily to gold and silver in the Americas and Australia. We have 75 assets, including 9 streams and 66 royalties. These investments are tied to mining assets at various stages of the mine life cycle, including 15 producing mines and 60 development and exploration stage projects. References to Triple Flag mean Triple Flag Precious Metals Corp., together with its wholly-owned subsidiaries.

Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable securities laws, including statements with regard to the closing of Triple Flag's initial public offering and Triple Flag's business model. Forward-looking information involves known and unknown risks and uncertainties, many of which are beyond Triple Flag's control, that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, those described under "Risk Factors" in Triple Flag's (final) base PREP prospectus. Forward-looking information is based on management's beliefs and assumptions and on information currently available to management. Although the forward-looking information contained in this news release is based upon what management believes are reasonable assumptions, you are cautioned against placing undue reliance on this information since actual results may vary from the forward-looking information. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained in this news release is provided as of the date of this news release, and Triple Flag does not undertake to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.

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Inquiries:
James Dendle
Vice President, Geology & Investor Relations
+1 (416) 304-9770
ir@tripleflagpm.com