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Unaudited Second Quarter Results for the Year 2025 by Pan American Silver

Improved Earnings of $189.6 Million Announced, Dividend Boosted by 20% - Pan American Silver Corporation

Unaudited Second Quarter 2025 Financial Results Announced by Pan American Silver Corporation
Unaudited Second Quarter 2025 Financial Results Announced by Pan American Silver Corporation

Unaudited Second Quarter Results for the Year 2025 by Pan American Silver

Pan American Silver to Boost Silver Production and Growth with MAG Silver Acquisition

Pan American Silver, a leading producer of silver and gold in the Americas, has announced a significant move that is set to enhance its production capabilities and growth prospects. The company is set to acquire MAG Silver Corp., a move that is expected to increase its annual silver production by approximately 35% on an annualized basis.

The acquisition, which will be finalised on August 7, 2025, at 11:00 am ET (8:00 am PT), will provide Pan American with substantial high-margin silver ounces, primarily from the high-grade Juanicipio mine in Mexico, which is operated by Fresnillo plc. MAG Silver holds a 44% interest in this mine.

Operational Efficiency and Cost Reduction

The acquisition will not only increase silver production but also help reduce all-in sustaining costs. This means Pan American Silver can enjoy higher profit margins from its operations, contributing to future financial stability and growth.

Strategic Positioning in the Silver Market

By increasing its silver output, Pan American Silver positions itself to capitalise on structural deficits in the global silver market. With industrial demand for silver, such as in solar and electric vehicles, surging and outpacing supply, the company is well-placed to benefit from rising silver prices.

Growth Opportunities

The acquisition offers additional growth opportunities through exploration potential at Juanicipio and MAG Silver's other properties like Deer Trail and Larder. This exploration potential could lead to further discoveries and expansion of operations, ensuring long-term growth prospects for Pan American Silver.

The live webcast, presentation slides, and the report for Q2 2025 will be available at https://panamericansilver.com/invest/financial-reports-and-filings/. Participants can register for the conference call at https://dpregister.com/sreg/10200364/ff52792798. The webcast link for the conference call is https://event.choruscall.com/mediaframe/webcast.html?webcastid=1qKk9Y8Q. An archive of the webcast will be available for three months.

It is important to note that the news release contains forward-looking statements and information that are subject to known and unknown risks, uncertainties, and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information. These factors include, but are not limited to, inflationary pressures, disruptions to global, regional, and local supply chains, fluctuations in metal prices, fluctuations in foreign exchange rates, operational risks and hazards, labor-related disruptions, unplanned delays or interruptions in scheduled production, regulatory approvals, title and ownership to mineral properties, financial condition, compliance with environmental, health, and safety laws, and the impact of the court-mandated ILO 169 consultation process in Guatemala.

Readers are advised to refer to the "Alternative Performance (non-GAAP) Measures" section of Pan American's Q2 2025 MD&A for a more detailed discussion of the non-GAAP financial measures used in this news release, such as AISC, adjusted earnings, basic adjusted earnings per share, total debt, working capital, total available liquidity, project capital, and free cash flow.

Pan American also owns the Escobal mine in Guatemala that is currently not operating, and it holds interests in exploration and development projects. The company has been operating in the Americas for over three decades, earning an industry-leading reputation for sustainability performance, operational excellence, and prudent financial management. Pan American is headquartered in Vancouver, B.C. and its shares trade on the New York Stock Exchange and the Toronto Stock Exchange under the symbol "PAAS".

[1] https://panamericansilver.com/invest/financial-reports-and-filings/ [2] https://dpregister.com/sreg/10200364/ff52792798 [3] https://event.choruscall.com/mediaframe/webcast.html?webcastid=1qKk9Y8Q [4] Information about the acquisition and its impact on Pan American Silver can be found in the news release issued by the company on [insert date and link to the news release].

The acquisition of MAG Silver Corp., expected to be finalized on August 7, 2025, not only boosts Pan American Silver's annual silver production but also contributes to operational efficiency and cost reduction, leading to higher profit margins in the finance sector. With the increase in silver production, Pan American Silver strategically positions itself to capitalize on the surging industrial demand for silver in the business sector, particularly in the solar and electric vehicle industries, ensuring growth opportunities through exploration potential at Juanicipio and MAG Silver's other properties.

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