CURRENCY
Unless otherwise indicated, all dollar amounts in this annual report on Form 40-F are in United States dollars. Based
on the Bank of Canada daily average exchange rate, the exchange rate of Canadian dollars into United States dollars, on March 30, 2021, was CDN$1.00 = USD$0.7917.
NOTE TO UNITED STATES READERS-
DIFFERENCES IN UNITED STATES AND CANADIAN REPORTING PRACTICES
The Companys audited annual Consolidated Financial Statements for the years ended December 31, 2020 and 2019 (the Audited Financial
Statements) have been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (IFRS).
Wheaton believes that there are no significant differences between its corporate governance practices and those required to be followed by United States
domestic issuers under the NYSE listing standards. This confirmation is located on the Wheaton website at http://www.wheatonpm.com/company/corporate-governance/default.aspx.
The AIF, MD&A (as defined below) and the Audited Financial Statements have been prepared in accordance with the requirements of the securities laws in
effect in Canada, which differ from the requirements of U.S. securities laws. The terms mineral reserve, proven mineral reserve and probable mineral reserve are Canadian mining terms defined in accordance with
Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) and the Canadian Institute of Mining,
Metallurgy and Petroleum (the CIM) CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended (the CIM Definition Standards). These
definitions differ from the definitions in the United States Securities and Exchange Commission (SEC) Industry Guide 7 (SEC Industry Guide 7) under the United States Securities Act of 1933, as
amended (the Securities Act). Under SEC Industry Guide 7 standards, mineralization may not be classified as a reserve unless the determination has been made that the mineralization could be economically and legally produced
or extracted at the time the reserve determination is made. Also, under SEC Industry Guide 7 standards, a final or bankable feasibility study is required to report reserves, the three-year historical average price is used in
any reserve or cash flow analysis to designate reserves and the primary environmental analysis or report must be filed with the appropriate governmental authority.
In addition, the terms mineral resource, measured mineral resource, indicated mineral resource and inferred mineral
resource are defined in and required to be disclosed by NI 43-101; however, these terms are not defined terms under SEC Industry Guide 7 and are normally not permitted to be used in reports and
registration statements filed with the SEC. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. Inferred mineral resources have a great amount of
uncertainty as to their existence and as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred
mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that all or any part of an inferred mineral resource exists or is
economically or legally mineable. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Disclosure of contained ounces in a resource is permitted disclosure under Canadian regulations; however, the
SEC normally only permits issuers to report mineralization that does not constitute reserves by SEC standards as in place tonnage and grade without reference to unit measures.
The SEC has adopted amendments to its disclosure rules to modernize the mineral property disclosure requirements for issuers whose securities are registered
with the SEC under the U.S. Securities Exchange Act of 1934, as amended (the Exchange Act). These amendments became effective February 25, 2019 (the SEC Modernization Rules) with compliance required for the first
fiscal year beginning on or after January 1, 2021. Under the SEC Modernization Rules, the historical property disclosure requirements for mining registrants included in SEC Industry Guide 7 will be rescinded and replaced with disclosure
requirements in subpart 1300 of SEC Regulation S-K. Following the transition period, as a foreign private issuer that is eligible to file reports with the SEC pursuant to the multi-jurisdictional disclosure
system, the Company is not required to provide disclosure on its mineral properties under the SEC Modernization Rules and will continue to provide disclosure under NI 43-101.
As a result of the adoption of the SEC Modernization Rules, the SEC will recognize estimates of measured mineral resources, indicated
mineral resources and inferred mineral resources. In addition, the SEC has amended its definitions of proven mineral reserves and probable mineral reserves to be substantially similar to the
corresponding definitions under the CIM Definition Standards that are required under NI 43-101. However, while the above terms are substantially similar to CIM Definition Standards, there are
differences in the definitions under the SEC Modernization Rules and the CIM Definition Standards. Accordingly, there is no assurance any mineral reserves or mineral resources that the Company may report as proven mineral reserves,
probable mineral reserves, measured mineral resources, indicated mineral resources and inferred mineral resources under NI 43-101 would be the same had the
Company prepared the reserve or resource estimates under the standards adopted under the SEC Modernization Rules.
Accordingly, information contained in
this annual report on Form 40-F and the documents incorporated by reference herein containing descriptions of the Companys mineral deposits may not be comparable to similar information made public by
U.S. companies subject to reporting and disclosure requirements under the United States federal securities laws and the rules and regulations thereunder.
ANNUAL INFORMATION FORM
For the
Companys AIF, see Exhibit 99.1 filed as part of this annual report on Form 40-F.
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