Yamana Gold Inc. provided its updated mineral reserve and mineral resource estimates as at December 31, 2022 highlighting the ongoing sustainability of the Company's production platform. The Company's continued success in replacing mineral reserves is further underscored by its strong 2022 operating results which, as previously reported, exceeded annual guidance with full year production of 1,005,770 gold equivalent ounces ("GEO") at an all-in sustaining cost ("AISC") below $1,125 per GEO. Following the overwhelming support of the respective special resolutions of the shareholders of each of Yamana and Pan American Silver Corp.

("Pan American") on January 31, 2023, in connection with approving the acquisition by Pan American of all of the issued and outstanding common shares of the Company following the sale by Yamana of its Canadian assets, including certain subsidiaries and partnerships which hold Yamana's interests in the Canadian Malartic mine, to Agnico Eagle Mines Limited, all by way of a plan of arrangement under the Canada Business Corporations Act (the "Proposed Transaction"), this news release is anticipated to be Yamana's final announcement covering mineral reserve and mineral resource update matters. Further details including tonnes, grade and assumptions are presented in the full Mineral Reserves and Mineral Resources table below while all Mineral Resources reported herein are exclusive of Mineral Reserves. The Proposed Transaction is expected to close by the end of the month.