Pan American Silver Corp. · TSX:PAAS
Pan American Silver — Corporate Update (April 2023)
11 slides from Pan American Silver's corporate update, Apr 27, 2023
Slide 1: Conference Call, April 27, 2023
1 CONFERENCE CALL // APRIL 27, 2023
Slide 2: Cautionary Note and Non-GAAP Measures
2 maintain a strong financial condition and have sufficient capital, or have access (including transportation); fluctuations in currency markets (such as the PEN, to capital through our corporate credit facility or otherwise, to sustain our MXN, ARS, BOB, GTQ, CAD, CLP, and BRL versus the USD); oper
Slide 3: Not an Offer or a Solicitation (Continued)
3 CONTINUED NOT AN OFFER OR A SOLICITATION THIS PRESENTATION DOES NOT CONSTITUTE (AND MAY NOT BE CONSTRUED TO BE) A SOLICITATION OR OFFER BY PAN AMERICAN OR ANY OF OUR RESPECTIVE DIRECTORS, OFFICERS, EMPLOYEES, REPRESENTATIVES OR AGENTS TO BUY OR SELL ANY SECURITIES OF ANY PERSON IN ANY JURISDICTION
Slide 4: Pan American has the scale & experience to capture value
CANADA Timmins 4 Dolores // Pan American has the scale & experience to capture value La Colorada Skarn Deposit opportunities in the Americas and deliver on its consolidated 2023 MEXICO GUATEMALA guidance following the acquisition of Yamana Escobal (C&M) • Acquired 4 operating mines(1): Jacobina, El
Slide 5: Consolidated 2023 guidance reflects material increase in silver and gold production
5 // Pan American's accounting and reporting methods differ from those previously used by Yamana • Consolidated 2023 guidance reflects material increase in silver and gold production together with lower consolidated operating costs o The guidance provided for the original Pan American operations per
Slide 6: 2023 Production and Cost Guidance by Mine
6 Silver Production Gold Production Cash Costs AISC (million ounces) (thousand ounces) ($ per ounce)(1) ($ per ounce) (1) Silver Segment: La Colorada (Mexico) 5.5 – 5.9 3 14.00 – 15.50 17.00 – 18.50 Cerro Moro (Argentina)(2) 3.6 – 3.9 77 – 85 5.50 – 8.80 11.00 – 14.50 Huaron (Peru) 3.6 – 3.8 – 5.80
Slide 7: Capital Expenditures Guidance
7 Expenditures ($ millions) Project capital invested to advance Sustaining Capital strategic goals: La Colorada (Mexico) 15.0 – 16.0 • Continued exploration and in- Cerro Moro (Argentina) 20.0 – 21.0 fill drilling on the La Colorada Huaron (Peru) 17.0 – 18.0 Skarn project where engineering work is b
Slide 8: Prudent balance sheet management reduces risk, improves long-term shareholder returns
8 Revolving Credit //Prudent balance sheet management reduces risk, Facility improves long-term shareholder returns TOTAL AVAILABLE $425M LIQUIDITY $513M $938M Cash & Short-term Investments(1) 1. As at March 31, 2023. Cash and short-term investments of $513.1 million is inclusive of $204.7 million r
Slide 9: $1.8B in FCF generated since 2010, returning $665M to shareholders
9 8% Share Repurchases 29% Dividends // $1.8B in FCF generated since 2010, returning $665M to shareholders (2) and investing $714M in expansions 24% Debt $1.8B FCF Repayment(3) 2010 – 2022 Cash Flow Priorities 1 Maintain balance sheet flexibility, with low to zero debt 2 Invest in high-return projec
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Slide 11: Conference call and webcast archive
The audio and presentation archive of this conference call and webcast will be accessible on our website at: https://www.panamericansilver.com/investors/events-and-presentations/