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Pan American Silver

Company Description:

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. We also own the Escobal mine in Guatemala that is currently not operating, and we hold interests in exploration and development projects. We have been operating in the Americas for nearly three decades, earning an industry-leading reputation for sustainability performance, operational excellence and prudent financial management. We are headquartered in Vancouver, B.C. and our shares trade on the New York Stock Exchange and the Toronto Stock Exchange under the symbol “PAAS”.

Pan American Silver strives to continuously improve its sustainability performance by implementing industry best practices and setting new goals to improve performance and manage risk. Our Environmental, Social and Governance (ESG) values include caring for the environment in which we operate; contributing to the long-term development of our host communities; ensuring safe and secure workplaces for our employees; contributing to the welfare of our employees, local communities, and governments; and, operating transparently.

Each of our operations is responsible for the development and implementation of procedures and programs that comply with our policies and
standards, and with corporate initiatives such as Towards Sustainable Mining (TSM).

TSM Performance Assessment:

Our operating sites self-assess their performance against the TSM protocols on an annual basis. In 2023, self-assessments were performed at Cerro Moro (Argentina), Dolores (Mexico), El Peñon (Chile), Huaron (Peru), Jacobina (Brazil), La Arena (Peru), La Colorada (Mexico), Minera Florida (Chile), San Vicente (Bolivia), Shahuindo (Peru), Timmins (Canada) and our Vancouver head office. Pan American Silver’s overall results for 2023 were strong and the Company achieved high levels of performance across most of the TSM protocols. 

TSM External Verification:

In 2022, external verification of TSM performance was completed at our Timmins operations in Canada. The external verification ratings confirmed and, in some cases, exceeded our own self-assessment.

In 2023, the Company expanded the TSM external verification process to include operating sites outside of Canada. In 2023, external verification was conducted at three facilities: La Arena and Shahuindo in Peru, and Dolores in Mexico. The external verification process confirmed level A and above for all indicators of all TSM protocols, except the Community Impact and Benefit Management indicator of the Indigenous and Community Relationships protocol at our Dolores mine, where we achieved level B.

Self-Assessed Results

2023 TSM Results

Pan American Silver

Crisis Management and Communications Planning Assessment
Facility Crisis management and communications preparednessReviewTraining
PAS Corporate
Cerro Moro
Dolores
El Peñon
Huaron
Jacobina
La Arena
La Colorada
Minera Florida
San Vicente
Shahuindo
Timmins West and Bell Creek
Results as of: Feb 13, 2024
Preventing Child and Forced Labour Assessment (Pre-2024)
Facility PREVENTING FORCED LABOURPREVENTING CHILD LABOUR
Dolores
La Arena
Shahuindo
Timmins West and Bell Creek
Results as of: Feb 14, 2024
Note: These requirements are assessed every three years during the external verification.
Safety and Health Assessment
Commitments and accountabilityPlanning and implementationTraining, behaviour and cultureMonitoring and reportingPerformance
Cerro Moro
El Peñon
Huaron
Jacobina
La Arena
La Colorada
Minera Florida
San Vicente
Shahuindo
Timmins West and Bell Creek

AAA

AA

A

B

C

Results as of: Feb 14, 2024
Tailings Management Assessment
Tailings management policy and commitmentTailings management systemAssigned accountability and responsibilityAnnual tailings management reviewOperation, maintenance and surveillance (OMS) manual
Cerro Moro
El Peñon
Huaron
Jacobina
La Colorada
Minera Florida
San Vicente
Timmins West and Bell Creek

AAA

AA

A

B

C

Results as of: Feb 14, 2024
Biodiversity Conservation Management Assessment
Commitment, accountability and communicationsConservation planning and implementationReporting
Cerro Moro
Dolores
El Peñon
Huaron
Jacobina
La Arena
La Colorada
Minera Florida
San Vicente
Shahuindo
Timmins West and Bell Creek

AAA

AA

A

B

C

Results as of: Feb 14, 2024
Water Stewardship Assessment
Water governanceOperational water managementWatershed-scale planningWater reporting and performance
Cerro Moro
Dolores
El Peñon
Huaron
Jacobina
La Arena
La Colorada
Minera Florida
San Vicente
Shahuindo
Timmins West and Bell Creek

AAA

AA

A

B

C

Results as of: Feb 14, 2024
Indigenous and Community Relationships
Community of Interest IdentificationEffective Community of Interest Engagement and DialogueEffective Indigenous Engagement and DialogueCommunity Impact and Benefit ManagementCommunity of Interest Response Mechanism
Cerro Moro
Dolores
El Peñon
Huaron
Jacobina
La Arena
La Colorada
Minera Florida
San Vicente
Shahuindo
Timmins West and Bell Creek

AAA

AA

A

B

C

Results as of: Feb 14, 2024
Climate Change Protocol Assessment
Corporate Climate Change ManagementFacility Climate Change ManagementFacility Performance Targets and Reporting
PAS Corporate
Cerro Moro
Dolores
El Peñon
Huaron
Jacobina
La Arena
La Colorada
Minera Florida
San Vicente
Shahuindo
Timmins West and Bell Creek

AAA

AA

A

B

C

Results as of: Feb 14, 2024
Safe, Healthy, and Respectful Workplaces Protocol
Commitments and AccountabilitySafety and Health Management SystemsPsychological Safety and Respectful BehaviourTraining, Behaviour, and CultureMonitoring and ReportingPhysical Safety and Health Performance
Dolores

AAA

AA

A

B

C

Results as of: Feb 14, 2024
International Initiatives
Industry Sustainability Initiatives
ICMM Sustainable Development Framework
WGC Conflict Free Gold Standard
ISO 14001 - EMS Standard
Management System Standards
OHSAS 18001
UN Global Compact
International Voluntary Initiatives
Extractive Industries Transparency Initiative
Voluntary Principles on Security and Human Rights
OECD Guidelines for Multinational Enterprises
AA 1000
Reporting, Disclosure and Transparency Standards
Global Reporting Initiative
CDP
Water Disclosure Project
Carbon Pricing Leadership Coalition
IFC Social and Environmental Performance Standards
Financing Standards
Dow Jones Sustainability Index
Listed on Socially Responsible Investing Indices
Jantzi Social Index
Responsible Jewellery
Industry Sustainability Initiatives
International Cyanide Code
Kimberley Process
Results as of: Dec 29, 2023

Letters of Assurance

Pan American Silver | 2023 | TSM Letter of Assurance

Pan American Silver | 2022 | TSM Letter of Assurance



Verification Summary Reports

Pan American Silver | Shahuindo | 2023 | Verification Summary Report

Pan American Silver | La Arena | 2023 | Verification Summary Report

Pan American Silver | Dolores | 2023 | Verification Summary Report

Pan American Silver | Timmins West and Bell Creek | 2022 | Verification Summary Report



Historical TSM Results

TSM Results 2023

TSM Results 2022 (Externally Verified)

TSM Results 2021

TSM Results 2019

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