Pan American Silver Announces Renewal of Normal Course Issuer Bid

Core Viewpoint - Pan American Silver Corp. has announced the renewal of its normal course issuer bid to purchase up to 21,090,323 common shares, representing 5% of its issued shares as of February 28, 2026, with the bid period running from March 6, 2026, to March 5, 2027 [1] Group 1: Bid Details - The Toronto Stock Exchange has accepted the company's notice for the renewal of the normal course issuer bid [1] - The company intends to purchase shares on the open market through TSX, NYSE, and alternative trading systems [1] - The maximum daily purchases on TSX will be 304,358 shares, which is 25% of the average daily trading volume for the six months ended February 28, 2026 [1] Group 2: Financial Context - Under the current issuer bid, which started on March 6, 2025, the company has purchased 819,558 shares at an average price of approximately C$52.43 per share [1] - As of February 28, 2026, the total number of issued and outstanding common shares is 421,806,464 [1] - The company believes that the market price of its shares may not fully reflect the underlying value of its mining operations and future growth prospects [1] Group 3: Strategic Rationale - The board of directors views the outstanding common shares as an accretive investment, allowing the company to utilize excess cash for attractive risk-adjusted returns [1] - An automatic securities purchase plan has been established to facilitate share repurchases even during internal trading blackout periods [1]