Salobo Copper-Gold Mine Carajás, Pará State, Brazil Technical Report – Salobo III Expansion Neil Burns, P.Geo. Chris Gauld, P.Geo Marcos Dias Alvim, P.Geo., FAusIMM(CP) Maurice Tagami, P.Eng. Effective date: December 31, 2019 1 CERTIFICATE OF QUALIFIED PERSON I, Neil Burns, M.Sc., P.Geo., am employed as Vice President, Technical Services, Wheaton Precious Metals Corp. (Wheaton). This certificate applies to the technical report titled “Salobo Copper-Gold Mine Carajás, Pará State, Brazil – Technical Report – Salobo III Expansion” that has an effective date of December 31, 2019 (the “technical report”). I am a professional geologist with over 24 years of exploration, mining and resource geology experience in precious and base metals. I graduated from Dalhousie University with a B.Sc in 1995 and from Queen’s University with a M.Sc. in 2003. I have practiced professionally since graduation in 1995. In that time I have been directly involved in generation of, and review of, mineral tenure, surface and other property rights, geological, mineralization, exploration and drilling data, geological models, sampling, sample preparation, assaying, quality assurance- quality control databases, mineral resource estimation, risk analyses, mine geology, reconciliation, preliminary economic assessment, pre-feasibility and feasibility studies, and due diligence studies in Canada, USA, Central and South America, Europe, Eurasia, Africa and Australia. As a result of my experience and qualifications, I am a Qualified Person as defined in National Instrument 43–101 Standards of Disclosure for Mineral Projects (NI 43–101). I have visited the Salobo Operations, most recently from December 2nd to 4th, 2019. I am responsible for Sections 1, 2, 3, 7, 8, 9, 10, 11, 12, 14, 22, 23, 24, 25, 26 and 27 of the technical report. I am not independent of Wheaton as I am an employee of Wheaton. I have read NI 43–101 and the sections of the technical report for which I am responsible have been prepared in compliance with that Instrument. As of the effective date of the technical report, to the best of my knowledge, information and belief, the sections of the technical report for which I am responsible contain all scientific and technical information that is required to be disclosed to make those sections of the technical report not misleading. March 30, 2020 “Signed and Stamped” Neil Burns, M.Sc., P.Geo. Wheaton Precious Metals Corp. Suite 3500 - 1021 West Hastings Street Vancouver, BC Canada V6E 0C3 CERTIFICATE OF QUALIFIED PERSON I, Chris Gauld M.Sc., P.Geo., am employed as Principal Geologist, Resource Management, Vale Canada Limited. This certificate applies to the technical report titled “Salobo Copper-Gold Mine Carajás, Pará State, Brazil – Technical Report – Salobo III Expansion” that has an effective date of December 31, 2019 (the “technical report”). I am a professional geologist with over 22 years of exploration, underground, open pit and laterite mining and resource geology experience in base and precious metals. I graduated from the University of Glasgow, Scotland with a B.Sc (Hons) in 1996 and from Laurentian University with a M.Sc. in 1999. I have practiced professionally since graduation in 1996. In that time I have been directly involved in the generation or review of, surface and other property rights, geological, mineralization, exploration and drilling data, geological models, sampling, sample preparation, assaying, QA-QC databases, mineral resource estimation, risk analyses, mine geology, reconciliation, preliminary economic assessment, pre-feasibility and feasibility studies, and due diligence studies in Canada, Brazil, and Indonesia. As a result of my experience and qualifications, I am a Qualified Person as defined in National Instrument 43–101 Standards of Disclosure for Mineral Projects (NI 43–101). I have visited the Salobo Operations, most recently on October 24-25th, 2019. I am responsible for Sections 4, 5, 6, 7, 8, 9, 10, 11, 12, 23, 24, 25 and 26 of the technical report. I am independent of Wheaton as independence is defined in Section 1.5 of NI 43-101 however I am employed by Vale and therefore not independent of Vale, the owner of Salobo. I have read NI 43–101 and the sections of the technical report for which I am responsible have been prepared in compliance with that Instrument. As of the effective date of the technical report, to the best of my knowledge, information and belief, the sections of the technical report for which I am responsible contain all scientific and technical information that is required to be disclosed to make those sections of the technical report not misleading. March 30th, 2020 “Signed and Stamped” Chris Gauld, M.Sc., P.Geo. Vale Base Metals 18 Rink Street Copper Cliff, ON P0M 1N0 CERTIFICATE OF QUALIFIED PERSON I, Marcos Dias Alvim, MBA., P.Geo., FAusIMM(CP), am employed as Long Term Planning Manager, South Atlantic Operations, Vale Base Metals (Vale). This certificate applies to the technical report titled “Salobo Copper-Gold Mine Carajás, Pará State, Brazil – Technical Report – Salobo III Expansion” that has an effective date of December 31, 2019 (the “technical report”). I have worked as a geologist for a total of 12 years since my graduation. I graduated with a B.Sc. in Geology from the Universidade Estadual Paulista “Julio de Mesquita Filho”, Brazil, in 2007 and a MBA in Project Management from the Fundação Getúlio Vargas, Brazil, in 2013. I have done review and report work on many mining operations and projects around the world for due diligence and regulatory requirements. I have participated in scoping and feasibility study project work on many mining projects, including Brazilian projects. I have held senior positions at numerous base metal and precious metal open pit and underground operations, and consulting companies responsible for general and project management, including Manager of Technical Services, Project Development and Operations of major and junior Canadian mining companies. As a result of my experience and qualifications, I am a Qualified Person as defined in National Instrument 43–101 Standards of Disclosure for Mineral Projects (NI 43–101). I have visited the Salobo Operations, most recently on March 5th, 2020. I am responsible for Sections 4, 14, 15, 16, 18, 19, 20, 21, 22, 25 and 26 of the technical report. I am independent of Wheaton as independence is defined in Section 1.5 of NI 43-101, however I am employed by Vale and therefore not independent of Vale, the owner of Salobo. I have read NI 43–101 and the sections of the technical report for which I am responsible have been prepared in compliance with that Instrument. As of the effective date of the technical report, to the best of my knowledge, information and belief, the sections of the technical report for which I am responsible contain all scientific and technical information that is required to be disclosed to make those sections of the technical report not misleading. March 30, 2020 “Signed and Stamped” Marcos Dias Alvim, MBA, P.Geo., FAusIMM(CP) Vale Base Metals South Atlantic Operations Rua Grajau, 63, Carajás - Parauapebas - Pará – Brasil CEP: 68.516-000 CERTIFICATE OF QUALIFIED PERSON I, Maurice Tagami, P.Eng., am employed as Technical Ambassador (formerly Vice President, Mining Operations), Wheaton Precious Metals Corp. (Wheaton). This certificate applies to the technical report titled “Salobo Copper-Gold Mine Carajás, Pará State, Brazil – Technical Report – Salobo III Expansion” that has an effective date of December 31, 2019 (the “technical report”). I am a professional engineer with over 39 years of metallurgical, mineral processing, mining operations and project development experience in both base and precious metals. I am a member of the Association of Professional Engineers and Geoscientists of the Province of British Columbia and hold a Bachelor of Applied Science degree in Metallurgical Engineering from the University of British Columbia. I have practiced professionally since graduation in 1981. In that time, I have been directly involved in generation of, and review of, preliminary economic assessment, pre-feasibility, and feasibility studies, and due diligence studies in Canada, Brazil, Tanzania, Ghana and Portugal. As a result of my experience and qualifications, I am a Qualified Person as defined in National Instrument 43–101 Standards of Disclosure for Mineral Projects (NI 43–101). I have visited the Salobo Operations, most recently from December 2nd to 4th, 2019. I am responsible for Sections 13, 17, 25 and 26 of the technical report. I am not independent of Wheaton as I am an employee of Wheaton. I have read NI 43–101 and the sections of the technical report for which I am responsible have been prepared in compliance with that Instrument. As of the effective date of the technical report, to the best of my knowledge, information and belief, the sections of the technical report for which I am responsible contain all scientific and technical information that is required to be disclosed to make those sections of the technical report not misleading. March 30, 2020 “Signed and Stamped” Maurice Tagami, P.Eng. Wheaton Precious Metals Corp. Suite 3500 - 1021 West Hastings Street Vancouver, BC Canada V6E 0C3 Table of Contents 1. Summary .................................................................................................................. 9 2. Introduction ............................................................................................................ 11 2.1. Terms of Reference .....................................................................................