Pan American Silver Announces Results of Annual General and Special Meeting

Rhea-AI Summary

On May 12, 2021, Pan American Silver (NASDAQ: PAAS) held its annual general and special meeting, where 64.86% of shares were represented. Shareholders approved all resolutions, including the appointment of Deloitte LLP as auditors and an advisory resolution on executive compensation, which received 96.27% support. The election of directors was also successful, with Michael Carroll receiving 99.20% of votes in favor. Gillian Winckler was named Chair, succeeding Ross Beaty.

Positive

• Shareholders approved all resolutions presented at the meeting.
• Deloitte LLP was reappointed as auditor with 96.24% approval.
• Executive compensation plan received strong support with 96.27% approval.
• Majority votes for directors indicate strong shareholder confidence.

Negative

• Walter Segsworth received only 96.14% support, indicating some shareholder dissent.

VANCOUVER, BC, May 13, 2021 /PRNewswire/ - Pan American Silver Corp. (NASDAQ: PAAS) (TSX: PAAS) ("Pan American Silver" or the "Company") today reported the voting results from its annual general and special meeting of shareholders held May 12, 2021 in Vancouver, British Columbia (the "Meeting"). Each of the matters voted upon at the Meeting is described in detail in the Company's Management Information Circular dated March 22, 2021, which is available on the Company's website at panamericansilver.com.

A total of 136,374,011 common shares were represented at the meeting, being 64.86% of the Company's issued and outstanding common shares. Shareholders voted in favour of all matters brought before the meeting, including the appointment of auditors for the ensuing year and the authorization of the directors to fix the auditor's remuneration, the acceptance of the Company's approach to executive compensation, known as "say-on-pay", and the election of management's nominees as directors.

Election of Directors

Director Nominee	Votes For	Votes Withheld
Michael Carroll	111,010,095 (99.20%)	891,168 (0.80%)
Neil de Gelder	110,884,716 (99.09%)	1,016,547 (0.91%)
Charles Jeannes	111,683,099 (99.81%)	218,164 (0.19%)
Jennifer Maki	110,623,173 (98.86%)	1,278,089 (1.14%)
Walter Segsworth	107,585,690 (96.14%)	4,314,897 (3.86%)
Kathleen Sendall	111,601,152 (99.73%)	300,111 (0.27%)
Michael Steinmann	111,676,384 (99.80%)	224,878 (0.20%)
Gillian Winckler	110,652,742 (98.88%)	1,248,520 (1.12%)

As previously announced on February 3, 2021, Ross Beaty retired from the Company's Board of Directors and has been designated Chair Emeritus. Gillian Winckler has been appointed the Company's new Chair. We are also pleased to announce the election of Jennifer Maki to the Company's Board.

Say-on-Pay
Resolution	Votes For	Votes Against
Advisory resolution approving the Company's approach to executive compensation	107,732,793 (96.27%)	4,168,466 (3.73%)
Appointment of Auditor
Resolution	Votes For	Votes Withheld
Resolution to appoint Deloitte LLP as auditors of the Company until its next annual general meeting	131,243,779 (96.24%)	5,130,231 (3.76%)

About Pan American Silver
Pan American Silver owns and operates silver and gold mines located in Mexico, Peru, Canada, Argentina and Bolivia. We also own the Escobal mine in Guatemala that is currently not operating. As the world's second largest primary silver producer with the largest silver reserve base globally, we provide enhanced exposure to silver in addition to a diversified portfolio of gold producing assets. Pan American Silver has a 27-year history of operating in Latin America, earning an industry-leading reputation for corporate social responsibility, operational excellence and prudent financial management. We are headquartered in Vancouver, B.C. and our shares trade on NASDAQ and the Toronto Stock Exchange under the symbol "PAAS".

Learn more at panamericansilver.com.

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SOURCE Pan American Silver Corp.

FAQ

What were the results of the May 2021 Pan American Silver meeting?

The May 12, 2021 meeting resulted in the approval of all resolutions, including auditor appointment and executive compensation.

Who was elected as the new Chair of Pan American Silver?

Gillian Winckler was appointed as the new Chair of Pan American Silver.

What percentage of shareholders voted in favor of the executive compensation plan?

The executive compensation plan received 96.27% approval from shareholders.

Who are the directors elected at the Pan American Silver meeting?

Directors elected include Michael Carroll, Neil de Gelder, Charles Jeannes, and others.

What is the stock symbol for Pan American Silver?

Pan American Silver trades under the symbol PAAS on NASDAQ and TSX.