On November 8, 2022, Yamana Gold confirmed the activation of the arrangement agreement with Agnico Eagle Mines Ltd. (Agnico) and Pan American Silver, and at the same time announced the termination of the pending transaction with Gold Fields.

Pursuant to the announcement, the shareholders’ vote scheduled to be held on November 21 has been cancelled and Yamana Gold will pay a termination fee of US$300 million to Gold Fields, in accordance with the terms of the arrangement agreement with that company.

The board of directors of Yamana Gold has unanimously determined in good faith, after consultation with its outside financial and legal advisors, and upon the unanimous recommendation of the special committee of independent directors of the Board, that the Agnico - Pan American Transaction is a “Yamana Superior Proposal” in accordance with the terms of Gold Fields Arrangement Agreement. As a result, the Canadian Malartic Partnership and the Wasamac Underground Mining Project would be fully owned by Agnico Eagle.

A copy of the press release issued on November 8, 2022 is available for viewing on the Company's website at http://www.yamana.com and under the Company's profile on SEDAR (www.sedar.com).

The acquisition process will continue in the coming weeks. The Wasamac underground mining project team will be communicating regularly on this matter and remains available at all times to answer your questions.

By phone: 1 833 510-0330

By SMS: 833-510-0330

By email: wasamac@yamana.com

At the Community Relations Office, 14 rue d'Évain, Rouyn-Noranda, J0Z 1Y0

Nearly a year has gone by since we established our Community Support Program, and we can report that our team is thrilled by the popularity and positive impact of the program on the communities concerned.

Although Yamana Gold supports causes in several fields, the program focuses primarily on three priority areas where its contributions can be a lever for positive community change:

• Indigenous communities and organizations
• The neighbourhood and immediate area
• Diversity and inclusion

Dozens of causes, events and organizations working on behalf of vulnerable groups and increasing the participation of individuals that have been traditionally underrepresented in social, economic and environmental development have received guidance and support throughout the past year.

For applicants young and old, social or environmental initiatives, neighbourhood or local projects, the benefits have been many!

Regardless of the type of support or the size of the contributions, Yamana recognizes its commitment to inclusion and the importance of diversity when it comes to cultural and geographic origins, age, skills, experience and gender. By celebrating cultures, traditions, wellbeing and sustainable development in a variety of possible areas, the program's primary aim is to help create resilient communities that will thrive beyond the mine.

The selection committee that receives and studies applications is eager to build on the experiences of recent months to further develop its community support program in 2023. Each application received is carefully examined against the award criteria set out in the program.

For further discussion, feel free to drop by our community relations office at 14 rue d’Évain in Évain.

The 5th neighbourhood meeting for the Wasamac underground mining project carried out by Yamana Gold will be on Wednesday, November 16, 2022 at the Évain Club de l’Âge d’Or, located at 100 rue Leblanc (same side as the library).

We suggest a meeting in the form of four workshops, giving everyone the chance to talk to several key Yamana Gold personnel. The small groups will be discussing these topics:

• Water
• Spatial planning
• Traffic flow
• Air quality, vibrations, and sound environment

We will present the work done in recent months to optimize the project. We will also answer your questions, and we look forward to feedback for further project improvement.

Two time slots are available to attend the meeting:

• 2:00 – 4:00 PM
• 7:00 – 9:00 PM

Please RSVP and reserve your time slot by email at wasamac@yamana.com

Or by phone at 1 833 510-0330 (toll free).

Be sure to mention your name, phone number and preferred time slot.

Public meeting open to all.

We look forward to seeing you there!

Since the start of the project, we have had numerous and diverse consultations with stakeholders in the water industry. Last September, during a virtual meeting, we spoke with several specialized regional organizations, namely the Conseil Régional de l'Abitibi-Témiscamingue (CREAT), Organisme de Bassin Versant de l'Abitibi-Jamésie (OBVAJ), and Organisme de Bassin Versant du Témiscamingue (OBVT), in order to update them on the project and discuss known best practices in the mining sector. We were asked to host a field visit, which we did on October 12 on the site where the future tailings facility might be constructed. A representative of the Société de l'Eau Souterraine de l'Abitibi-Témiscamingue (SESAT) and a person with the municipal environmental department of Rouyn-Noranda were also present for this tour.

These transparent and frank discussions enable us to present our findings and have them validated by experts in our community as the project moves forward.

The feedback from stakeholders is essential to building a project with an eye to sustainability and continuous improvement and meeting the community's various expectations.

The 13^th meeting of the Wasamac Task Force was a project status report through a review of the latest news and the neighbourhood meeting, followed by continuing discussion of the coexistence guide with regard to monitoring and maintaining the integrity of residential properties. The group also discussed the vibration modelling tests for the environmental impact assessment to be rescheduled in the coming months. Finally, as with each of the meetings, the reports received by Yamana over the past month, and action taken in response to them, were presented and discussed.

Monitoring and maintenance of property integrity will be an important chapter in the coexistence guide, which is currently in development. The meeting was a chance for Yamana to present its commitments and proposals for monitoring and maintaining property integrity; others will be added after the EIA. The work currently underway is intended to establish practices firmly grounded in science, transparency, cooperation and a good-neighbour approach.

The objectives presented by Yamana for monitoring and maintenance of property integrity are:

"Documenting conditions at the starting point and monitoring impacts over time, then communicating the results transparently and collaborating with all stakeholders in a spirit of continuous improvement and good neighbourliness. We intend to base our approach on the recognition that there is no such thing as zero risk and a genuine desire for peaceful co-existence."

Some of the commitments discussed at the meeting:

• To establish best practices for monitoring and informing the public so that the latter can track vibration levels in the area.
• Commission an independent expert to produce a baseline of properties in the area and monitor it over time
• Based on the results of the environmental impact assessment, find solutions to reduce, mitigate or compensate for the potential impacts on homeowners in the area, in advance and through consultation with stakeholders
• Conduct periodic testing of residential wells in the area and communicate the results of monitoring done on observation wells throughout the mining project

If you have any questions concerning maintenance of the integrity of properties or about the environmental monitoring that will be set up to track project impacts, do not hesitate to contact the Yamana community relations office or to share your questions with members of the Wasamac Task Force, who will be able to follow up on them at future meetings.

Glenn Polson, Coopérative Pikogan

Since the launch of the impact study for the Wasamac underground mining project in March 2021, numerous communications and exchanges have taken place with the Indigenous communities and organizations interested in taking part in the assessment of the project's impacts.

Throughout the discussions, it was possible to identify various issues relating to the Wasamac project and its review, as defined and expressed by Indigenous communities and organizations. These comments, questions and suggestions contributed to the process of optimization and continuous improvement of the project, in order to prevent or limit the impacts on the environment. The entire Yamana Gold team as well as the firms involved in relations with the community and the carrying out of the impact study would like to thank the teams from the Indigenous communities and organizations for their time and their contribution to improving the project and for the collaborative process.

We invite you to consult this 2021-2022 progress report to see the efforts undertaken as well as the concrete impact of the contributions received at the level of the project and its review.

Read the report

At this 12^th meeting, the task force took a break from discussions on Coexistence Guide topics to hear the Yamana team's update on its applications for advanced exploration permits. Given construction of temporary infrastructure, bulk sampling of the deposit, and preparatory work, permit applications will be submitted this summer. The information presented to the task force will also be presented at the June neighbourhood meeting, where a consultation on mitigation measures will also be proposed.

The meeting was also an opportunity to follow up on the PROPRIO-CHOIX program, including the appraisal pilot project, which will begin with two volunteer homeowners who are members of the task force. The accredited appraiser will also attend the neighbourhood meeting to field questions.

Finally, the upcoming neighbourhood meeting will include a brainstorming session to gather ideas for neighbourhood projects that could become Yamana's contributions to the community. The members involved in the community project committee will help facilitate the exercise.

Lastly, Yamana presented a proposal for a neighbourhood assistance program modelled on employee assistance programs. In a nutshell: to address the psychosocial impacts of a mining project, a combination of solutions is required. In addition to the important processes of dialogue, information and creation of a relationship of trust between the mining company and its neighbours, Yamana would propose a concrete new measure that would provide access to direct services, regardless of whether the request for services is related to the mining project's impacts or not. Initial reaction to the idea was positive and a more detailed presentation of the proposal will be made to the task force at a later date.

To read the complete minutes of the meeting (french only): https://www.wasamac-consultations.com/20630/widgets/83491/documents/97931

Yamana Gold is proud to announce that it was given the Excellence in Sustainable Development award from the Quebec Mineral Exploration Association (QMEA) at the Xplor mineral exploration convention on October 5, 2022.

The award is bestowed to a company in recognition of its elevated sustainable development standards. The Yamana Gold team is proud of its accomplishments as regards the Wasamac underground mining project. We want to thank the company’s various departments for their contribution as well as our partners, service suppliers, task force and neighbours in the community.

Together, we will continue to develop this mining project in keeping with the industry’s best practices.

Should you have any questions or comments, please do not hesitate to contact us:

By phone: 1 833 510-0330

By email: wasamac@yamana.com

In conjunction with the annual province-wide Journées de la culture, the Wasamac underground mining project team is proud to launch its art acquisition program to encourage the development of professional and emerging artists from Abitibi-Témiscamingue and the First Nations.

The works acquired through this program will be on view to the public at the Wasamac Underground Mining Project's community relations office and Yamana Gold's regional office.

A selection committee made up of company representatives, a professional artist and a First Nations member will meet once a year to evaluate the applications submitted. Artists wishing to submit a work may do so before mid-November of each year by filling out the form at https://www.wasamac-consultations.com/policies-and-community-support-program.

"With this initiative, we want to make the artworks accessible to the people who visit us at our offices and to offer a showcase for local artists. From the outset, we have strived for closeness to area residents and a smooth integration of our activities in the community. The art acquisition program aligns perfectly with this desire. There is no doubt that art is a great asset to our beautiful region. We hope to be able to make a difference for the artists through the promotion of their work.”

Our operations are being planned in such a way as to meet all prevailing environmental standards. Preventive inspections are suggested out of concern for maintaining a peaceful coexistence with our neighbours.

Experts and authorities agree that it is a good practice to conduct a baseline inspection of the foundations of homes near a mining project prior to construction or active operations. We made this commitment to the Task Force and commissioned outside experts (the firm WSP) to carry out the inspections.

Accordingly, we propose to conduct some inspections this fall on boulevard Rideau, in the area near the Yamana property. The inspections will allow us to document the pre-existing condition of properties before advanced exploration work begins in the winter of 2023. Although we do not expect any structural impacts on the properties in question, the inspections will facilitate any eventual follow-up should an issue arise. The work will also make it possible to monitor the most sensitive or fragile components of a property throughout the construction and operation period.

Our plan is to continue with the other properties in the vicinity later in 2023. The results of the environmental impact assessment will allow us to more precisely determine the area to be covered by the baseline inspections.

The inspection process

A voluntary inspection offer will be mailed to the homeowners concerned in September. A WSP expert will then contact the homeowners to answer any questions they might have and arrange an appointment at their convenience. The inspections will be done in October.

A homeowner can expect the inspection to take about one hour. One person living in the home must be present during the visit. The inspector will take photos of the visible interior and exterior parts of the property.

If an existing fissure is observed in a foundation, the inspector could offer to install a crack detection scanner to measure any change to it over time and across the seasons. Homeowners have the choice of accepting or refusing to use the device. Evaluation of the progression of a foundation crack can also be done using comparison photographs.

The inspection report is strictly confidential. It will be seen only by the relevant Yamana Gold personnel and the homeowner.

Following the inspection, homeowners can expect to receive a satisfaction survey, which will help us improve the process in future.

For the coexistence guide

Monitoring and maintaining the integrity of properties will be an important part of the coexistence guide that is currently being developed. Residential inspections are one of Yamana's commitments in this regard and others will be added after the environmental impact assessment.

Should you have any questions, comments or concerns, please do not hesitate to contact our team at 1 833 510-0330 or by email at wasamac@yamana.com. We will also be pleased to meet you in person at the Community Relations office, which is located at 14 d'Évain.