Cosmos Chiu

Ovais Habib

Don DeMarco

Fahad Tariq

Lawson Winder

Adrian Day

- The Mexican Federal Economic Competition Commission (COFECE) has approved Pan American Silver's acquisition of MAG Silver Corp.  **[771992_0000771992-25-000068_cofeceapprovalnr.htm:0]** 
- All required regulatory, shareholder, and court approvals have been received, and the Arrangement is anticipated to be completed on or about **September 4, 2025**.  **[771992_0000771992-25-000068_cofeceapprovalnr.htm:0]** 
- Registered MAG shareholders must make their election by **2:00 p.m. (Vancouver time) on August 27, 2025**, to receive either **$20.54 in cash** or a default of **$0.0001 in cash and 0.755 of a Pan American common share** for each MAG Share.  **[771992_0000771992-25-000068_cofeceapprovalnr.htm:0]** 
- The aggregate consideration for the acquisition will consist of **$500 million in cash** and the remaining consideration paid in Pan American shares, subject to proration.  **[771992_0000771992-25-000068_cofeceapprovalnr.htm:0]**

PAN AMERICAN SILVER (PAAS)