Pan American Silver Releases 2024 Sustainability Report
Pan American Silver Releases 2024 Sustainability Report
Vancouver, B.C. - May 29, 2025 - Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS) ("Pan American" or the
"Company") today released its 2024 Sustainability Report (the "Report"), outlining Pan American's approach and
performance in environmental, social and governance (ESG) matters. Spanish and Portuguese versions of the
Report will be available shortly.
Highlights of Pan American's 2024 ESG performance include:
• Reduced water use by over 220,000 m3 compared to the 2024 base case1.
• Completed the installation of a new filter tailings storage facility at the Huaron mine in Peru.
• Surpassed the annual greenhouse gas emissions (GHG) reduction target, which keeps the Company on
track to reduce its global Scope 1 and 2 GHG emissions by at least 30% by 20302.
• Contributed US$20.3 million to local communities, including the launch of three new economic
development programs. Health and education programs are also a focus of the Company’s community
investments.
• Women accounted for 23% of hires in approved and budgeted vacant positions.
• Evaluated 264 suppliers through the new supplier due diligence platform.
The Report outlines Pan American’s 2025 ESG performance goals and has been prepared in alignment with the
Global Reporting Initiative (GRI) Standards and the Sustainability Accounting Standards Board (SASB) Metals &
Mining Sustainability Accounting Standard. The Report also contains information that considers the
recommendations of the Taskforce on Climate-related Financial Disclosures (TCFD).
This Report marks the 15th annual Sustainability Report published by Pan American. For more information on Pan
American's sustainability efforts and to access all reports, visit https://www.panamericansilver.com/sustainability/
Pan American also reported today its progress toward conformance with the World Gold Council’s Responsible
Gold Mining Principles (RGMP). These principles establish clear expectations for consumers, investors and the
downstream gold supply chain regarding responsible gold mining.
S&P Global ranks Pan American in the top 10% of the Metals & Mining Industry
Pan American’s ESG performance in 2024 was recognized by S&P Global, placing the Company in the top 7% of the
Metals & Mining industry. Additionally, Pan American was included in the S&P Global Sustainability Yearbook
2025, which distinguishes companies demonstrating strong commitments to responsible mining, environmental
stewardship, and transparent reporting. The Company’s ESG performance improvements were also acknowledged
by MSCI Inc., which upgraded Pan American’s score from BBB to A.
(1) The 2024 base case represents Pan American's projected 2024 water use as calculated using its life of mine plans adjusted for annual
production guidance.
(2) From our updated 2019 baseline GHG emissions projections.
About Pan American
Pan American is a leading producer of silver and gold in the Americas, operating mines in Canada, Mexico, Peru, Brazil, Bolivia,
Chile and Argentina. 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 over 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". Learn more at panamericansilver.com.
For more information contact:
Brent Bergeron
Senior VP, Corporate Affairs & Sustainability
Ph: 604-684-1175
NEWS RELEASE
PAN AMERICAN SILVER CORP. 1
Email: [email protected]
Christian Del Valle
Senior Director, Corporate Affairs and ESG Engagement
Ph: 604-684-1175
Email: [email protected]
Cautionary Note Regarding Forward-Looking Statements and Information
Certain of the statements and information in this news release constitute “forward-looking statements” within the meaning
of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of
applicable Canadian provincial securities laws. All statements, other than statements of historical fact, are forward-looking
statements or information. Forward-looking statements or information in this news release relate to, among other things: the
anticipated reduction of the Company’s global Scope 1 and 2 GHG emissions by at least 30% by 2030.
These forward-looking statements and information reflect the current views of Pan American with respect to future events
and are necessarily based upon a number of assumptions that, while considered reasonable by Pan American, are inherently
subject to significant operational, business, economic and regulatory uncertainties and contingencies, and such uncertainty
generally increases with longer-term forecasts and outlook. These assumptions include: Pan American’s ability to continue to
achieve its GHG emissions reduction objectives, and the timing for any such achievements; future changes in the environment
and climate that may be unanticipated and the impacts on our business, availability of funds for Pan American’s projects and
future cash requirements; prices for energy inputs, labour, materials, supplies and services (including transportation); no
labour-related disruptions at any of our operations; all necessary permits, licenses and regulatory approvals for our
operations are received in a timely manner; our ability to secure and maintain title and ownership to properties and the
surface rights necessary for our operations and activities; and our ability to comply with environmental, health and safety,
and other laws. The foregoing list of assumptions is not exhaustive.
Forward-looking statements and information involve many known and unknown risks, uncertainties and other factors that
could cause actual results or performance to be materially different from the results or performance that are or may be
expressed or implied by such forward-looking statements or information, including, but not limited to, factors, such as: metal
price fluctuations, fluctuation in the costs of energy, labour, materials and other inputs, fluctuations in currency markets and
exchange rates, operational risks and hazards inherent with the business of mining (including environmental accidents and
hazards, industrial accidents, and severe weather events); risks relating to the credit worthiness, financial condition or
business practices of suppliers, refiners and other parties with whom Pan American does business; inadequate insurance, or
inability to obtain insurance, to cover these risks and hazards; our ability to obtain all necessary permits, licenses and
regulatory approvals in a timely manner; changes in laws, regulations and government practices, as well as other legal or
economic developments, in the jurisdictions where we may carry on business; and those factors identified under the heading
“Risks Related to Our Business” in Pan American’s most recent Form 40-F and Annual Information Form filed with the U.S.
Securities and Exchange Commission and with Canadian provincial securities regulatory authorities, respectively. Pan
American has attempted to identify important factors, but there may be other factors that cause results not to be as
anticipated, estimated, intended or described. Investors are cautioned against attributing undue certainty or reliance on
forward-looking statements and information. Pan American does not intend, nor assume, any obligation to update or revise
forward-looking statements and information except to the extent required by applicable law.
PAN AMERICAN SILVER CORP. 2