Investor Presentaiton

LA COLORADA SKARN VIEW // polymetallic skarn mineralisation is concentrated in 3 zones, covering an area of 1,500 metres by 1,100 metres laterally, and a depth of between 600 metres and 1,900 metres below surface 1555F 4,000 E Date: 13 September 2022 100 200 Mes Existing La Colorada workings (Estrella and Candelaria) 3,5535 2,500 MASL 2,400 MASL 2,300 MASL 2,200 MASL 2,100 MASL 2,000 MASL Resource Classification 5,500 N 1,900 MASL Indicated Inferred 1,800 MASL 1,700 MASL 1,600 MASL 1,500 MASL Above Sea Level (MASL 1,400 MASL 1,300 MASL 5,000 N 1,200 MASL 1,100 MASL 1,000 MASL Existing La Colorada workings (Estrella) Beaty Shaft Existing La Colorada workings (Candelaria) 900 MASL 4,500 E 5,000 E 6.000 E Long Section view from South Mine Coords Date: 13 September 2022 400 500 600 La Colorada Skarn Mineral Resource Classification PAN AMERICAN SILVER Figure 1 Metres 100 200 300 400 Resource Classification Indicated Inferred 5,000 E 5,500 E Plan view with existing workings 500 La Colorada Skarn Mineral Resource Classification 5,500 N 5,000 N 6,000 E Mine Coords PAN AMERICAN SILVER Figure 2 PAN AMERICAN SILVER 14

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