Extractive Sector Transparency Measures Act - Annual Report





Reporting Entities May Insert Their Brand/Logo here
Reporting Entity Name
Pan American Silver Corp.
Reporting Year
From
2023-01-01
To:
2023-12-31
Date submitted
2024-05-28
Reporting Entity ESTMA Identification Number

E202619
Image_0.jpg Original Submission
Image_1.jpg Amended Report
Other Subsidiaries Included
(optional field)
For Consolidated Reports - Subsidiary
Reporting Entities Included in Report:
E547011 Lake Shore Gold Corp

Not Substituted
Attestation by Reporting Entity

In accordance with the requirements of the ESTMA, and in particular section 9 thereof, I attest I have reviewed the information contained in the ESTMA report for the entity(ies) listed above. Based on my knowledge, and having exercised reasonable diligence, the information in the ESTMA report is true, accurate and complete in all material respects for the purposes of the Act, for the reporting year listed above.
Full Name of Director or Officer of Reporting Entity
Ignacio Couturier

Date

2024-05-28
Position Title
Chief Financial Officer


Extractive Sector Transparency Measures Act - Annual Report
Reporting Year
From:
2023-01-01
To:
2023-12-31
Reporting Entity Name
Pan American Silver Corp.
Currency of the Report
CAD
Reporting Entity ESTMA
Identification Number
E202619
Subsidiary Reporting
Entities (if necessary)
E547011 Lake Shore Gold Corp
Payments by Payee
Country
Payee Name1
Departments, Agency, etc… within Payee that Received Payments2
Taxes
Royalties
Fees
Production Entitlements
Bonuses
Dividends
Infrastructure Improvement Payments

Total Amount paid to Payee
Notes34
Argentina
The National Government of Argentina
6,140,000—6,140,000
Payees include:
1)Administracion Federal de Ingresos Publicos (AFIP); and
2)Administracion General de Rentas
3)Administración Gubernamental de Ingresos Públicos (AGIP)
Argentina
Province of Santa Cruz
4,800,00010,260,000110,000 15,170,000
Payees include:
1)Administracion Nacional de Aduanas;
2)Ente Nacional de Comunicaciones;
3)Secretaría de Estado del Ambiente y Desarrollo Sustentable;
4)Tesoreria General de la provincia de Santa Cruz; and
5)Consejo Agrario Provincial
6)
Argentina
Municipality of Buenos
Aires (CABA)
390,000390,000
Payees include:
1)Agencia Santacrucena de Ingresos Publicos (ASIP)
Argentina
Municipality of
Gobernador Gregores
100,000 100,000
Bolivia, Plurinational State of
Municipality of Atocha
1,290,0001,290,000
Bolivia, Plurinational State of
Autonomous City of
Potosi
7,290,0007,290,000

Bolivia, Plurinational State of
The National Government of Bolivia
9,080,0008,450,00017,530,000
Payees includes:
1)Servicio Nacional de Impuestos Internos; and
2)Corporacion Minera de Bolivia

Brazil

Government of Brazil
20,440,0005,550,000160,000 26,150,000
Payees include:
1)Secretaria de Receita Federal; and
2)Agencia Nacional de Mineracao
Canada -Ontario
City of Timmins
1,220,0001,220,000
Canada -Ontario
FLYING POST FIRST
NATION
1,060,0001,060,000
Canada -Ontario
MATACHEWAN FIRST
NATION
230,000230,000
Canada -Ontario
WAHGOSHIG FIRST
NATION
230,000230,000
Canada -Ontario
MATTAGAMI FIRST
NATION
1,060,0001,060,000
Canada -Ontario
WABUN TRIBAL
COUNCIL
120,000120,000


Extractive Sector Transparency Measures Act - Annual Report
Reporting Year
From:
2023-01-01
To:
2023-12-31
Reporting Entity Name
Pan American Silver Corp.
Currency of the Report
CAD
Reporting Entity ESTMA
Identification Number
E202619
Subsidiary Reporting
Entities (if necessary)
E547011 Lake Shore Gold Corp
Payments by Payee

Country

Payee Name1
Departments, Agency, etc… within Payee that Received Payments2

Taxes

Royalties

Fees

Production Entitlements

Bonuses

Dividends
Infrastructure Improvement Payments

Total Amount paid to Payee

Notes34
Chile
Municipality of Santiago
——110,000— 110,000
Chile
Municipality of Alhue
——420,000— 420,000
Chile
Municipality of
Antofagasta
———420,000 420,000
Chile
Government of Chile
59,580,00010,600,000270,000— 70,450,000
 Payees include:
1)Tesoreria General de la Republica de Chile;
2)Instituto de Investigaciones y Control; And
3)Ministerio de defensa nacional

Guatemala

Municipality of San Rafael Las Flores
200,000130,000330,000
Payment of portion of outstanding royalties from 2017 sales, which were suspended on mutual agreement upon the operation's suspension.
See note below.

Guatemala

The National Government of Guatemala
330,000330,000
Payee includes:
1) Superintendencia de Administracion Tributaria (SAT); See note below.
Mexico
The National Government of Mexico
24,830,0003,390,0004,900,00033,120,000
Payees includes:
1)Superintendencia de Administracion Tributaria (SAT);
2)CONAGUA (Comision Nacional del Agua);
3)Tesoreia de la Federacion;
4)Fondo Forestal Mexicano; And
5)Secretarìa del Medio Ambiente y Recursos Naturales (SEMARNAT).
Mexico
State of Chihuahua
1,080,0001,080,000
Mexico
Municipality of
Chalchihuites
1,000,0001,000,000


Extractive Sector Transparency Measures Act - Annual Report
Reporting Year
From:
2023-01-01
To:
2023-12-31
Reporting Entity Name
Pan American Silver Corp.
Currency of the Report
CAD
Reporting Entity ESTMA
Identification Number
E202619
Subsidiary Reporting
Entities (if necessary)
E547011 Lake Shore Gold Corp
Payments by Payee
Country
Payee Name1
Departments, Agency, etc… within Payee that Received Payments2
Taxes
Royalties
Fees
Production Entitlements
Bonuses
Dividends
Infrastructure Improvement Payments

Total Amount paid to
Payee

Notes34
Peru
The National Government of Peru
71,040,0002,880,00073,920,000
Payees includes:
1)SUNAT (Superintendencia Nacional de Administracion Tributaria);
2)OSINERGMIN (Organismo Supervisor de la Inversion de Energia y Mineria);
3)OEFA (Organismo de Evaluacion y Fiscalizacion Ambiental);
4)INGEMMET (Instituto Geologico Minero y Metalurgico);
5)ANA (Autoridad Nacional del Agua); and
6)MTC (Ministerio de Transportes y Comunicaciones).
Additional Notes:
The functional currency is USD which was converted from local currency. The following are the average annual exchange rates:
BOB 6.9062; CAD 1.3497; ARS 295.6761; MXN 17.7306; PEN 3.7438; BRL 4.9935; CLP 840.67 and GTQ 7.8337.
Amounts were subsequently converted into CAD from USD using the average exchange rate for the year ended December 31, 2023 of 1USD = 1.3497 CAD.
Royalty payments related to the Escobal mine (Guatemala) were postponed upon the suspension of mining operations in 2017. The 2023 payments reflect portions of outstanding balances due for pre-suspension production that we paid during the year, under amended royalty agreement which provided for improved transperancy and controls over the allocation and expenditure of the royalties.


Extractive Sector Transparency Measures Act - Annual Report
Reporting Year
From:
2023-01-01
To:
2023-12-31
Reporting Entity Name
Pan American Silver Corp.
Currency of the Report
CAD
Reporting Entity ESTMA
Identification Number
E202619
Subsidiary Reporting Entities (if
necessary)
E547011 Lake Shore Gold Corp
Payments by Project
Country
Project Name1
Taxes
Royalties
Fees
Production Entitlements
Bonuses
Dividends
Infrastructure Improvement Payments
Total Amount paid by Project
Notes23
Argentina
Manantial Espejo Mine
2,510,0001,040,000100,0003,650,000
Argentina
Argenta
220,000220,000
Argentina
Estelar
8,220,0009,220,000110,00017,550,000
Argentina
Suyai
260,000260,000
Argentina
Agua Rica
140,000140,000
Bolivia, Plurinational State of
San Vincente Mine
9,080,00017,030,00026,110,000
Brazil
Jacobina Mine
20,440,0005,550,000250,00026,240,000
Canada -Ontario
Timmins West Mines
1,260,0002,580,000140,0003,980,000
Chile
El Péñon Mine
59,580,0008,680,000600,000420,00069,280,000
Chile
Minera Florida Mine
1,920,000—1,920,000
Guatemala
Escobal Mine
530,000190,000720,000
Mexico
Alamo Dorado Mine
430,000430,000
Mexico
La Colorada Mine
15,140,0001,110,000730,00016,980,000
Mexico
Dolores Mine
10,780,0002,280,0004,840,00017,900,000
Peru
Huaron Mine
12,580,000840,00013,420,000
Peru
Morococha Mine
350,000—350,000
Peru
La Arena Mine
13,330,0001,080,00014,410,000
Peru
Shahuindo Mine
44,780,000910,00045,690,000
Additional Notes3:
The functional currency is USD which was converted from local currency. The following are the average annual exchange rates: BOB 6.9062; CAD 1.3497; ARS 295.6761; MXN 17.7306; PEN 3.7438; BRL 4.9935; CLP 840.67 and GTQ 7.8337.
Amounts were subsequently converted into CAD from USD using the average exchange rate for the year ended December 31, 2023 of 1USD = 1.3497 CAD.