Gold Forum Americas / XPL-DEV 2022

Company Overview - Yamana Gold is a precious metals company primarily focused on gold, with exposure to silver and copper[6] - The company targets a production platform of over 1 million gold equivalent ounces at low all-in sustaining costs[6] - Yamana Gold had a 1H22 gold equivalent ounce (GEO) production of approximately 500,000 at an AISC of $1,084 per GEO[6] - The company anticipates a sequential increase in sustainable production to at least 1.5 million GEO, representing a minimum 50% production growth[6] Key Projects and Production - Canadian Malartic is projected to have an attributable production platform of 320,000-340,000 ounces per annum at all-in sustaining costs of $1,030/oz[9] - Wasamac's annual gold production is projected to average 169,000 ounces over an initial 10-year mine life with an AISC of $828/oz[16] - Jacobina has a production platform of 230,000 ounces per year at an AISC of ~$760/oz after the Phase 2 expansion to 8,500 tpd[20] - El Peñón has a production platform of 220,000 GEO with AISC at $885/GEO[28] - Cerro Moro has a base case production platform of 150,000 to 165,000 GEO per year[36] MARA Project - The MARA project pre-feasibility study highlights an NPV8% of >$3 billion at a copper price of $3.50/lb and gold price of $1,600/oz on a 100% basis[40] - MARA has a processing capacity of +115,000 tpd and production of 556 Mlbs CuEq for the first 10 years, with an AISC of $1.44/lb CuEq[40] Gold Fields Transaction - Gold Fields made an all-share offer for Yamana Gold at an exchange ratio of 0.6 Gold Fields shares for each Yamana share, implying a valuation of US$6.7 billion[46] - Yamana shareholders will own approximately 39% of the combined group[46]