S&P Dow Jones Indices Announces Changes to the S&P/TSX Composite Index

TORONTO, March 28, 2023 - Subject to the completion of the plan of arrangement between Pan American Silver Corp. (TSX: PAAS), Agnico Eagle Mines Ltd. (TSX: AEM) and Yamana Gold (TSX: YRI) resulting in the combination of the companies. Each share of Yamana Gold will be exchanged for 0.1598 Pan American Silver shares and 0.0376 shares of Agnico Eagle Mines and US$1.0406 in cash.

As a result of closing conditions being met, Yamana Gold's shares will be removed from the S&P/TSX Composite Index prior to the open of trading on April 4, 2023. The shares outstanding of Pan American Silver and Agnico Eagle Mines will be increased at the same time to reflect the issuance of shares.

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