MAG Announces Election Deadline for Arrangement with Pan American

Executive Summary

• MAG Silver Corp. has obtained all required approvals (shareholder, court, competition, and exchange) to proceed with its arrangement whereby Pan American Silver will acquire all outstanding MAG shares.
• Shareholders must elect by August 27, 2025 whether to receive cash ($20.54 per share) or a mixed cash‑and‑share consideration ( $0.0001 cash + 0.755 Pan American share per MAG share).
• The total consideration will consist of approximately $500 million in cash and the balance in Pan American shares; the arrangement is expected to close in Q3 2025, after which MAG’s shares will be delisted.

Key Details

• Approvals Obtained: Shareholder approval, Supreme Court of British Columbia order, Canadian Competition Bureau approval, conditional TSX/NYSE‑American approvals, and pending Mexican competition (COFECE) approval.
• Election Deadline: 2:00 p.m. Vancouver time on August 27, 2025.
• Cash Consideration: $20.54 per MAG share.
• Share Consideration: $0.0001 cash + 0.755 Pan American Silver common shares per MAG share.
• Proration Mechanism: If total cash elected exceeds $500 million, cash and share considerations will be prorated; any shareholder not electing or failing to elect is deemed to have chosen the Share Consideration.
• Total Expected Consideration: ~$500 million in cash plus remaining value delivered via Pan American shares.
• Closing Timeline: Arrangement expected to close in Q3 2025, subject to COFECE approval and satisfaction/waiver of closing conditions.
• Post‑Closing Actions: MAG shares will be delisted from TSX and NYSE‑American; MAG will apply to cease reporting as a public issuer.
• Election Process: Shareholders must submit a completed Letter of Transmittal and Election Form (available on SEDAR+ and MAG website) to Computershare Investor Services Inc. before the deadline.
• Non‑Registered Holders: Must follow instructions from their broker/dealer/intermediary; elections made through intermediaries prior to release remain valid.
• Tax Considerations: Elections have tax implications; shareholders are advised to consult advisors.

Notable Quotes

(No direct quotes were provided in the release.)