Wheaton Precious Metals Reaches Settlement on Canadian Tax Dispute Regarding Foreign Income

- TSX: WPMNYSE: WPM Wheaton Precious Metals™ Corp. ("Wheaton" or the "Company") is very pleased to announce that it has reached a settlement with the Canada Revenue Agency ("CRA") which provides for a final resolution of Wheaton's tax appeal in connection with the reassessment under transfer pricing rules of the 2005 to 2010 taxation years (the "Reassessments") related to income generated by the Company's wholly owned foreign subsidiaries ("Wheaton International") outside of Canada. SETTLEMENT HIGHLIGHTS  This additional service fee will result in increased income generated by Wheaton in Canada that is subject to Canadian tax. After the application of non-capital losses, Wheaton does not anticipate any additional cash taxes will arise in respect of the 2005 to 2010 taxation years as a result of the settlement.   "The terms of the settlement are an excellent outcome for Wheaton and its shareholders," said Randy Smallwood, Wheaton's President and Chief Executive Officer. "This settlement removes uncertainty with the use of our business model going forward and puts the tax issue behind us so that we can continue to focus on what we do best: building and managing our high-quality portfolio both organically and by accretive acquisitions, as we did earlier this year with the transactions on Vale's Voisey's Bay Mine and Sibanye's Stillwater Mines. With the clarity provided by this settlement, I look forward to our company again being valued solely based on the virtues of its excellent portfolio of high-quality assets and strong growth profile over the coming years." CONFERENCE CALL  A conference call will be held on December 14, 2018, starting at 9:00 am (Eastern Time) to discuss the settlement. To participate in the live call please use one of the following methods: Dial toll free from Canada or the US: 888-231-8191 Dial from outside Canada or the US: 647-427-7450 Pass code: 8993966 Live audio webcast: http://www.wheatonpm.com Participants should dial in ten to fifteen minutes before the call. The conference call will be recorded and available until December 21, 2018 at 11:59 pm ET. The webcast will be available for one year. You can listen to an archive of the call by one of the following methods: Dial toll free from Canada or the US: 855-859-2056 Dial from outside Canada or the US: 416-849-0833 Pass code: 8993966 Archived audio webcast: http://www.wheatonpm.com ADVISORS AND COUNSEL  Osler, Hoskin & Harcourt LLP acted as legal counsel to Wheaton. End Notes[1] The application of the settlement to years after 2010 (including the 2011 to 2015 taxation years which are currently under audit) is limited to transfer pricing and will be subject to there being no material change in facts or change in law or jurisprudence. CAUTIONARY NOTE REGARDING FORWARD LOOKING-STATEMENTS  The information contained herein contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking statements, which are all statements other than statements of historical fact, include, but are not limited to, statements with respect to: Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "projects", "intends", "anticipates" or "does not anticipate", or "believes", "potential", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Wheaton to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: Forward-looking statements are based on assumptions management currently believes to be reasonable, including but not limited to: Although Wheaton has attempted to identify important factors that could cause actual results, level of activity, performance or achievements to differ materially from those contained in forward-looking statements, there may be other factors that cause results, level of activity, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate and even if events or results described in the forward-looking statements are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, Wheaton. Accordingly, readers should not place undue reliance on forward-looking statements and are cautioned that actual outcomes may vary. The forward-looking statements included herein are for the purpose of providing investors with information to assist them in understanding Wheaton's expected financial and operational performance and may not be appropriate for other purposes. Any forward looking statement speaks only as of the date on which it is made. Wheaton does not undertake to update any forward-looking statements that are included or incorporated by reference herein, except in accordance with applicable securities laws. Patrick Drouin Senior Vice President, Investor Relations Wheaton Precious Metals Corp. Tel: +1-844-288-9878 Email: info@wheatonpm.com Website: http://www.wheatonpm.com