Business description: Pan American Silver Corp.

Pan American Silver Corp. is a Canada-based producer of silver and gold in the Americas, operating mines in Canada, Mexico, Peru, Brazil, Bolivia, Chile and Argentina. The Company is engaged in silver and gold mining and related activities, including exploration, mine development, extraction, processing, refining and reclamation. The Company also owns the Escobal mine in Guatemala that is currently not operating. In addition, the Company is exploring new silver and gold deposits and opportunities throughout the Americas. Its segments include Silver, Gold and Other. Its Silver Segment includes La Colorada, Cerro Moro, Escobal, Huaron and San Vicente. Its Gold segment includes Dolores, Shahuindo, Timmins, Jacobina, El Penon and Minera Florida. Its Other segment includes Pas Corp, Yamana Corp and other.

Number of employees: 9,348

Sales by Activity: Pan American Silver Corp.

Fiscal Period: December 2021 (USD) 2022 (USD) 2023 (USD) 2024 (USD) 2025 (USD)

Brazil - Jacobina

- - 29Cr 48Cr 66Cr

Chile - El Peñon

- - 26Cr 40Cr 60Cr

Peru - Shahuindo

26Cr 27Cr 28Cr 34Cr 48Cr

Canada - Timmins

24Cr 24Cr 26Cr 29Cr 36Cr

Chile - Minera Florida

- - - - 27Cr

Mexico - Dolores

34Cr 30Cr 27Cr 23Cr 18Cr

Mineraflorida

- - 15Cr 22Cr -

Peru - La Arena

19Cr 18Cr 19Cr 19Cr -

Argentina - Cerro Moro

- - 21Cr 24Cr 40Cr

Mexico - La Colorada

13Cr 16Cr 12Cr 16Cr 31Cr

Peru - Huaron

15Cr 15Cr 15Cr 17Cr 22Cr

Mexico - Juanicipio

- - - - 16Cr

Bolivia - SAN Vicente

8.04Cr 7.69Cr 9.15Cr 9.63Cr 13Cr

Argentina - Manantial Espejo

13Cr 11Cr 3.77Cr - -

Peru - Morococha

11Cr 2.21Cr - - -

Unallocated - Proportionate Share of Non-controlling Interests

- - - - 70L

Unallocated - Company's Attributable 44% Share of Juanicipio Operating Results

- - - - -16Cr

Canada- Yamana Corp

- - 2L - -

Executive Committee: Pan American Silver Corp.

Manager TitleAgeSince
Chief Executive Officer 60 01/01/2016
Director of Finance/CFO - 01/03/2022
Chief Tech/Sci/R&D Officer 66 18/11/2010
Chief Operating Officer - 20/10/2025
Chief Tech/Sci/R&D Officer - 01/01/2022

Composition of the Board of Directors: Pan American Silver Corp.

Director TitleAgeSince
Director/Board Member 60 01/01/2016
Director/Board Member 73 03/07/2012
Chairman 64 12/05/2021
Director/Board Member 66 22/02/2019
Director/Board Member 72 16/12/2020
Director/Board Member 54 12/05/2021
Director/Board Member 53 10/05/2023
Director/Board Member 55 10/05/2023
Director/Board Member 72 10/05/2023
Director/Board Member 63 06/08/2025

Shareholders: Pan American Silver Corp.

NameEquities%Valuation
Van Eck Associates Corp.
9.382 %
3,95,82,900 9.382 % 2 719 M $
Vanguard Fiduciary Trust Co.
4.14 %
1,74,65,779 4.14 % 1 200 M $
Mirae Asset Global ETFs Holdings Ltd.
3.759 %
1,58,60,311 3.759 % 1 090 M $
Blackrock Group Ltd. (Subfiler)
2.13 %
89,87,379 2.13 % 617 M $
Fidelity Investments Canada ULC
1.732 %
73,07,777 1.732 % 502 M $
NameEquities%Valuation
Konwave AG
-
25,40,000 - 2 M $
Baker Steel Capital Managers LLP
-
6,10,000 - 425 170 $
Mack + Weise Vermögensverwaltung GmbH
-
4,00,000 - 278 800 $
EMCORE Asset Management AG
-
2,45,000 - 170 765 $
Manulife Investment Management Ltd.
-
1,78,646 - 124 516 $

Holdings: Pan American Silver Corp.

NameEquities%Valuation
2,10,71,264 11.45% 120 M $
1,87,50,000 14.06% 17 M $

Company details: Pan American Silver Corp.

Pan American Silver Corp.

733 Seymour Street

V6B 0S6, Vancouver

+604 684 1175

http://www.panamericansilver.com
address Pan American Silver Corp.(PAAS)

Group companies: Pan American Silver Corp.

NameCategory and Sector
Precious Metals
Precious Metals
Precious Metals
Precious Metals
Precious Metals

Integrated Mining

Change 5d. change 1-year change 3-years change Capi.($)
-1.98%-7.68%+30.72%+11.10% 19TCr
-0.67%-5.55%+42.67%+20.54% 16TCr
+1.09%-5.22%+104.88%+149.04% 8.88TCr
+0.15%-0.95%+66.87%+10.66% 8.22TCr
+0.43%-3.55%+54.52%+61.66% 7.13TCr
-0.87%-6.11%+29.58%+3.45% 4.8TCr
-3.64%-5.14%+327.87%+405.95% 3.76TCr
-0.06%+2.93%+63.41%+157.83% 3.07TCr
-0.43%-0.60%+37.51%+92.83% 2.71TCr
Average -0.67%-3.78%+84.23%+101.45% 8.09TCr
Weighted average by Cap. -0.73%-5.03%+65.66%+63.99%
Trader
Investor
Global
-
Quality
-
ESG MSCI
A
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
9
Last Close Price
60.78USD
Average target price
73.79USD
Spread / Average Target
+21.40%

Quarterly revenue - Rate of surprise

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