Mag releases preliminary results of holder election

Executive Summary

• Mag Silver Corp. released preliminary election results showing that ~1.71 % of shareholders elected cash, ~30.55 % elected share consideration, and ~67.74 % made no valid election (deemed to have elected shares).
• The arrangement with Pan American Silver Corp., under which Pan American will acquire 100 % of Mag’s outstanding common shares, remains on track for closing around September 4, 2025.
• Final certified election results and the ultimate allocation of $500 million cash versus Pan American share consideration will be determined shortly before closing.

Key Details

• Arrangement Overview: Pan American Silver Corp. to acquire all issued and outstanding Mag Silver common shares; closing expected on or about 4 Sept 2025, subject to customary conditions.
• Consideration Options (per share):
• Cash: US$20.54 per Mag share
• Mixed: US$0.01 cash + 0.755 Pan American share per Mag share
• Proration: Both cash and share components are subject to proration; total aggregate consideration will consist of $500 million in cash plus the balance in Pan American shares.
• Preliminary Election Results (based on record holders at deadline, 2 p.m. Vancouver time, 27 Aug 2025):
• Cash election: ~1.71 % of outstanding Mag shares
• Share election: ~30.55 % of outstanding Mag shares
• No valid election / deemed share election: ~67.74 % of outstanding Mag shares
• Final Results: Certified results expected shortly before closing; final allocation will be computed per the arrangement agreement.
• Regulatory Approvals Obtained: Mexican and Canadian competition approvals, shareholder approval, Supreme Court of British Columbia order, conditional TSX and NYSE approvals.
• Post‑Closing Actions: Mag shares to be delisted from TSX and NYSE American; application filed for Mag to cease reporting in applicable jurisdictions.
• Reference Documents: Management Information Circular dated 6 June 2025 (available on SEDAR+ and company website).

Notable Quotes

(No direct quotes were provided in the release.)