On November 4, 2022, Yamana Gold Inc. has entered into an arrangement agreement with Agnico Eagle Mines Limited (Agnico) and Pan American Silver Corp. (Pan American). Under this agreement, Pan American will acquire all of Yamana's issued and outstanding common shares, while Yamana will sell its interests in its Canadian assets, including the Canadian Malartic mine, to Agnico. This plan is referred to as the "Agnico - Pan American Arrangement Agreement". Previously, Gold Fields Limited had a matching right and response period under an arrangement with Yamana, but this was waived, allowing Yamana to proceed with the Agnico - Pan American deal. As a result, Yamana's Board of Directors has altered its stance on a pending transaction with Gold Fields and now suggests that Yamana shareholders vote against the Gold Fields Transaction. A special meeting for shareholders to consider this is set for November 21, 2022, at 10:00 am (Toronto time). Yamana's Board, after consulting with external financial and legal experts, unanimously determined that the Agnico - Pan American Transaction is superior to the Gold Fields arrangement. If the Gold Fields deal is not approved at the shareholder meeting, the Agnico - Pan American Agreement will become effective unless Gold Fields chooses to end their agreement before the meeting. Documentation regarding the Agnico - Pan American Agreement will be uploaded to Yamana's SEDAR profile.