PAN AMERICAN SILVER CORP SEC Filings

Pan American Silver Corp. is advancing a multi-year growth plan for its Timmins gold operations in Ontario, supported by extensive exploration success at the Bell Creek, Vogel, Samson and Gold River areas.

The board approved the first phase of the Timmins Camp Project, including a 625m shaft extension at Bell Creek, an 814m drift to access the Vogel deposit, and a 1.3km exploration drift to access the Samson deposit, for a total investment of about $146 million. Initial 2026 spending of $40–$43 million was already included in guidance, so there is no change to the Company’s 2026 outlook.

Timmins currently has two underground mines feeding the Bell Creek plant, which can process about 5,600 tonnes per day versus current throughput of roughly 4,400 tonnes per day. The new work aims to use this spare capacity and extend mine life by converting and adding mineral resources. Drilling programs have delivered multiple high-grade gold intercepts at Bell Creek and Vogel, and Pan American plans roughly 118,000 metres of drilling at Timmins in 2026. Updated mineral reserve and resource estimates for Timmins, Vogel and Gold River are expected as of June 30, 2026, alongside a corporate-wide update in the third quarter of 2026.

Pan American Silver Corp. released its 2025 Sustainability Report, outlining environmental, social and governance performance and setting out 2026 sustainability goals. The report follows global standards such as GRI, SASB for Metals & Mining and aligns with the TCFD climate disclosure framework.

The company reports progress toward cutting global Scope 1 and 2 greenhouse gas emissions by at least 30% by 2030, expanded renewable energy certificate coverage to six mine sites, rehabilitated 62 hectares of land and invested US$20.4 million in community programs. It also highlights 95% retention of women employees, enhanced supplier due diligence and completion of external ESG verifications. Pan American’s 2025 sustainability performance was recognized by S&P Global through inclusion in the Dow Jones Best in Class North America Index and the S&P Global Sustainability Yearbook 2026.

Van Eck Associates Corporation reported beneficial ownership of 21,402,358 common shares of Pan American Silver Corp, equal to 5.08% of the class as of 03/31/2026. The filing (Amendment No. 18) lists sole voting and dispositive power over these shares.

Pan American Silver Corp. filed a Form 6-K announcing it will host an Investor Day on June 1, 2026 in Toronto from 1:00 to 4:00 pm ET. The executive team plans detailed presentations on corporate strategy, mine operations, growth projects and exploration activities, followed by a question-and-answer session.

The event will be accessible via webcast, with registration available through an online link and replay materials posted on the company’s website. Pan American highlights its position as a leading silver and gold producer in the Americas, with operating mines across seven countries and additional joint venture, development and exploration interests.

Pan American Silver Corp. has filed a Form 6-K furnishing an NI 43-101 technical report and Revised Preliminary Economic Assessment for its 100%-owned La Colorada property in Mexico. The report updates mineral resources and reserves for the existing vein mine and the large skarn deposit and outlines an expansion to an “Expanded La Colorada Mine.”

The vein mine hosts Proven and Probable reserves of 9.5 Mt at 297 g/t silver and 0.21 g/t gold, containing 90.7 Moz of silver and 63.7 koz of gold. The skarn deposit has Indicated resources of 265.4 Mt at 36 g/t silver, 1.37% lead, and 2.85% zinc, plus Inferred resources of 61.7 Mt at 30 g/t silver, 0.95% lead, and 2.55% zinc.

The Revised PEA contemplates a new 15,000 tpd plant, combining 13,000 tpd of skarn and 2,000 tpd of vein ore over a 37-year mine life. It assumes 162 Mt of mill feed, yielding payable 232 Moz of silver, 4.74 Mt of zinc, and 2.42 Mt of lead. At metal prices including US$45/oz silver, the project generates an after-tax NPV5 of US$2.6 billion, a 17% after-tax IRR, and cumulative after-tax cash flow of US$7.1 billion, with initial capital of US$1.9 billion and sustaining capital of US$1.2 billion.

Pan American Silver Corp. introduced an enhanced shareholder return framework targeting the return of 35%–40% of annual Attributable Free Cash Flow to shareholders via dividends and share repurchases under its normal course issuer bid. Assuming strong free cash flow continues, the Company anticipates returning up to $1 billion in 2026.

For 2026, Pan American expects aggregate dividends of $305 million, paid in equal quarterly installments currently equivalent to $0.18 per common share per quarter, with excess Attributable Free Cash Flow allocated to share buybacks. Repurchased shares will be cancelled, which is expected to enhance per‑share value and support future dividend per share growth.

The framework is built on strong liquidity and cash generation. In the first quarter of 2026, Attributable Free Cash Flow was $488 million. As of March 31, 2026, Pan American reported record cash and short‑term investments of $1.6 billion and total available liquidity of $2.4 billion, supporting its capital allocation priorities of sustaining operations, maintaining financial strength, funding organic growth projects, and returning capital to shareholders.

Pan American Silver Corp. reported a strong Q1 2026, with revenue of $1,154 million, up 49% from Q1 2025, driven mainly by higher metal prices. Net earnings rose to $456 million, or $1.08 per basic share, versus $169 million and $0.47 a year earlier.

Cash flow from operations increased to $505 million, supporting a move to a $679 million net cash position as of March 31, 2026. Attributable silver production reached 6.44 million oz, while attributable gold production was 169.2 thousand oz.

Silver Segment all-in sustaining costs fell sharply to $6.63/oz from $13.88, helped by low-cost ounces from Juanicipio and stronger by-product credits, while Gold Segment AISC increased to $1,851/oz from $1,485 due to higher costs and sustaining capital at several mines.

Management reaffirmed its 2026 operating outlook but raised 2026 project capital guidance after a revised PEA for the La Colorada Skarn Project, now expecting $92–95 million of Skarn spending and total 2026 project capital of $240–255 million. The company also continued shareholder returns through $76 million in dividends and $25 million of share repurchases in the quarter.

Pan American Silver Corp. reported the results of its annual general and special meeting held in Vancouver. Shareholders representing 290,835,897 common shares, or 68.95% of shares outstanding as of the record date, were present or represented.

Investors approved all items, including setting the Board at ten directors and electing all management nominees, each receiving strong majorities, generally above 96% of votes cast. Deloitte LLP was reappointed as auditor with 258,888,686 votes for, or 89.02% of votes cast.

Shareholders also supported the advisory “say-on-pay” resolution on executive compensation, with 203,011,508 votes in favour, representing 80.84% of votes cast, confirming broad backing for the Company’s compensation approach and governance structure.

Pan American Silver Corp. has scheduled key upcoming investor events. The company will release its unaudited first quarter 2026 results after market close on May 5, 2026, followed by a conference call and webcast on May 6, 2026 at 8:00 am ET (5:00 am PT).

Pan American will also hold its Annual General and Special Meeting of shareholders on April 30, 2026 at 10:00 am PT in Vancouver, British Columbia. The filing provides webcast links, dial-in details and notes that meeting materials are available on the company’s website.