Ms. Siren Fisekci reports

PAN AMERICAN SILVER TEMPORARILY SUSPENDS OPERATIONS AT THE LA COLORADA MINE

Pan American Silver Corp. has temporarily suspended all operating activities at its La Colorada mine in Mexico due to security concerns at the mine site and the surrounding area. In the early hours of Oct. 5, 2023, the operation experienced an armed robbery of two trailers of concentrate. There were no physical injuries to its personnel in connection with the incident. In response to the current security situation in the area and Pan American's priority to protect the safety and security of its personnel, Pan American Silver has temporarily suspended operations, project work and exploration at La Colorada. The mine site is currently secure, and Pan American has activated care and maintenance activities while it works with state and federal authorities regarding this incident. The suspension will continue until Pan American determines it is appropriate to resume operations.

Pan American Silver will provide an update on the situation as more information becomes available.

About Pan American Silver Corp.

Pan American Silver is a leading producer of precious metals in the Americas, operating silver and gold mines in Canada, Mexico, Peru, Bolivia, Argentina, Chile and Brazil. It also owns the Escobal mine in Guatemala that is currently not operating, and it holds interests in exploration and development projects. It has been operating in the Americas for nearly three decades, earning an industry-leading reputation for sustainability performance, operational excellence and prudent financial management. It 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.

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