Overview

* Pan American Q3 revenue of $884.4 mln beats analyst expectations

* Adjusted EPS for Q3 beats consensus at $0.48

* Company reports record free cash flow of $251.7 mln

Outlook

* Pan American raises 2025 silver production guidance to 22.0-22.5 mln ounces

* Company lowers 2025 Silver Segment AISC to $14.50-$16.00 per ounce

* Pan American maintains 2025 outlook for gold production and capital expenditures

Result Drivers

* MAG ACQUISITION - Acquisition of MAG Silver and Juanicipio mine contributed significantly to silver segment operations and free cash flow

* SILVER PRODUCTION GUIDANCE - Increased silver production guidance and lowered Silver Segment AISC due to Juanicipio's contribution

* LA COLORADA SKARN PROJECT - Exploring a two-phase development plan for La Colorada Skarn project to deliver a less capital-intensive first phase

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $884.40 $870 mln

Revenue mln (1

Analyst)

Q3 Beat $0.48 $0.44 (3

Adjusted Analysts

EPS )

Q3 EPS $0.45

Q3 Net $169.20

Income mln

Q3 $0.14

Dividend

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)