Silver Mining Giant Demonstrates ESG Leadership with Detailed Payment Disclosures

Rhea-AI Filing Summary

Pan American Silver Corp has filed Form SD (Specialized Disclosure Report) for fiscal year 2023 in compliance with Rule 13q-1 of the Securities Exchange Act. The company, based in Vancouver, British Columbia, is utilizing the alternative reporting provision under Item 2.01 by submitting its Extractive Sector Transparency Measures Act (ESTMA) report.

The filing indicates that the company is not subject to conflict minerals disclosure (Rule 13p-1) but is required to provide resource extraction issuer disclosure. The ESTMA report for the year ended December 31, 2024, is accessible through:

• The company's website at panamericansilver.com
• The Government of Canada's natural resources website

The report includes Exhibit 99.1 containing the detailed ESTMA Annual Report. The document was signed by CFO Ignacio Couturier on June 23, 2025.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM SD

SPECIALIZED DISCLOSURE REPORT

Pan American Silver Corp.

(Exact name of registrant as specified in its charter)

British Columbia, Canada

001-41683

Not applicable

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification No.)

2100-733 Seymour Street, Vancouver, British Columbia, Canada						V6B 0S6
(Address of principal executive offices)						(Zip code)

Ignacio Couturier, 604-684-1175

(Name and telephone number, including area code, of person to contact in connection with this report)

Check the appropriate box to indicate the rule pursuant to which this form is being filed.

☐Rule 13p-1 under the Securities Exchange Act (17 CFR 240.13p-1) for the reporting period from January 1 to December 31, ____.

☒    Rule 13q-1 under the Securities Exchange Act (17 CFR 240.13q-1) for the fiscal year ended December 31, 2023.

SECTION 1 – CONFLICT MINERALS DISCLOSURE

Item 1.01 - Conflict Minerals Disclosure and Report

Not applicable

Item 1.02 - Exhibit

Not applicable

SECTION 2 – RESOURCE EXTRACTION ISSUER DISCLOSURE

Item 2.01 Resource Extraction Issuer Disclosure and Report

Pan American Silver Corp. (the “Company”) is subject to Canada’s Extractive Sector Transparency Measures Act (“ESTMA”). The Company is relying on the alternative reporting provision of Item 2.01 and providing its ESTMA report for the year ended December 31, 2024 to satisfy the requirements of Item 2.01. The Company’s ESTMA report is available on the Company’s website at panamericansilver.com or on the Government of Canada’s website at https://natural-resources.canada.ca/our-natural-resources/minerals-mining/services-for-the-mining-industry/extractive- sector-transparency-measures-act/links-estma-reports/18198. The payment disclosure required by Form SD is included as Exhibit 2.01 to this Form SD.

SECTION 3 – EXHIBITS

Item 3.01. Exhibits

The following exhibit is filed as part of this report.

Exhibit Number			Description
99.1			Extractive Sector Transparency Measures Act – Annual Report for the year ended December 31, 2024

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned.

PAN AMERICAN SILVER CORP.			June 23, 2025
			(Date)

By:			/s/ “Ignacio Couturier”
Name:			Ignacio Couturier
Title:			Chief Financial Officer

FAQ

What type of specialized disclosure report did Pan American Silver (PAAS) file in June 2025?

Pan American Silver filed a Form SD pursuant to Rule 13q-1 under the Securities Exchange Act for the fiscal year ended December 31, 2023, focusing on resource extraction issuer disclosure requirements.

Where can investors find PAAS's Extractive Sector Transparency Measures Act (ESTMA) report for 2024?

PAAS's ESTMA report is available on two websites: the company's website at panamericansilver.com and the Government of Canada's website under the extractive sector transparency measures act section.

Is PAAS required to file conflict minerals disclosure for 2024?

No, the conflict minerals disclosure under Rule 13p-1 was marked as 'Not applicable' in the filing. PAAS only filed disclosures related to resource extraction under Rule 13q-1.

Who signed PAAS's Form SD filing in June 2025?

The Form SD was signed by Ignacio Couturier, who serves as the Chief Financial Officer of Pan American Silver Corp., on June 23, 2025.

What exhibits were included with PAAS's Form SD filing?

The filing included Exhibit 99.1, which is the Extractive Sector Transparency Measures Act – Annual Report for the year ended December 31, 2024.