Analyst Coverage

For information purposes only, below is a list of analysts that currently provide research coverage of Pan American Silver. Pan American does not provide analysts’ reports or their recommendations, nor does it endorse or approve any opinions, estimates or forecasts of any analyst regarding the Company’s business or its securities, or their conclusions or recommendations. This list may not be accurate or exhaustive, as analysts and institutions may change their coverage universe from time to time.

Last updated: March 3, 2016